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In 2020, due to the COVID-19 outbreak, the rising hospital admissions around the world resulted in a surged demand for sterilisation services. Furthermore, the major factors driving the growth of the sterilisation services industry include the rising incidences of hospital-acquired infections, expanding geriatric population globally, growing number of government awareness programmes, and the heightened spread of chronic diseases, such as cancer, diabetes, obesity, and respiratory disorders, among others. In addition, the sterilisation services industry is expected to grow in the coming years, fuelled by the rapid technological advancements in sterilisation equipment, increased demand for sterilisation services in hospitals and clinics, and a surge in sterilisation service outsourcing. Also, the rapidly growing demand for e-beam sterilisation is expected to further accelerate the expansion of the sterilisation services industry.
The demand for various surgical equipment and medical devices has increased with the rising number of surgical procedures that require high-intensity infection prevention and control. This is anticipated to drive the demand for sterilisation services globally due to the proven benefits of sterilised products and growing awareness about their effectiveness in healthcare settings. The major market players are therefore entering into more mergers and acquisitions in order to expand their businesses. For instance, in June 2021, STERIS (NYSE: STE) announced to acquire Cantel, which is a global provider of infection prevention products and services, through a United States subsidiary to diversify its portfolio of sterilisation services. Meanwhile, in November 2019, Stryker Corporation (NYSE: SYK) announced that one of its subsidiaries acquired all shares of the Canada-based sterilisation company, TSO3, for USD 52 million. TSO3 is a leading manufacturer of low-temperature sterilisation technology for medical devices. Such developments are expected to support the growth of the sterilisation services industry in the forecast years.
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The major players in the global sterilisation services market are B. Braun Melsungen AG, E-BEAM Services, Inc, Steris Corporation, BGS Beta-Gamma-Service GmbH & Co. KG, and Stryker Corporation, among others. The comprehensive report by EMR looks into the market share, capacity, and latest developments like mergers and acquisitions, plant turnarounds, and capacity expansions of the major players.
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