STERIS plc (US) and Sotera Health Company (US) are Leading Players in the Sterilization Services Market
The sterilization services market is projected to reach USD 5.9 billion by 2027 from USD 4.5 billion in 2022, at a CAGR of 5.5% during the forecast period. Growth in this market is majorly driven by the need for sterilization services to minimize the prevalence of HAIs, the implementation of favorable government initiatives and stringent regulations for sterilization services, and growing number of surgeries performed annually.
The global sterilization services market is consolidated at the top, with many leading market players based in developed countries. The prominent players in this market are STERIS plc (US), Sotera Health Company (US), Stryker Corporation (US), Advanced Sterilization Products (ASP, US), E-BEAM Services, Inc. (US), MMM Group (Germany), Belimed AG (Switzerland), BGS Beta-Gamma-Service GmbH & Co. KG (Germany), Medistri SA (Switzerland), Noxilizer, Inc. (US), H.W.Andersen Products Ltd. (US), Cosmed Group (US), Cretex Companies, Inc. (US), Life Science Outsourcing, Inc. (US), MICROTROL Sterilisation Services Pvt. Ltd. (India), Medline Industries, Inc. (US), Avantti Medi Clear (Mexico), Steripure SAS (France), Europlaz Technologies Limited (UK), Centerpiece (US), Midwest Sterilization Corporation (US), Blue Line Sterilization Services LLC (US), SteriPack Group (Ireland), Steri-Tek (US), and Sterilization Services (US).
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STERIS plc is a global provider of products and services focused on infection prevention. The company provides an array of sterilization services using gamma irradiation, electron beam processing, and EtO technologies. The company operates in over 100 countries across Asia, Europe, and Latin, South, and North America through its field sales & service facilities and a network of dealers and distributors. It dominates the sterilization products and services market and also has a significant position in the disinfectants market. In the last three years, the company has continuously increased its revenues. In 2021, STERIS’ revenue increased to USD 4,585.1 million for the year ended March 31, 2022, compared to USD 3,107.5 million for the year ended March 31, 2021. This increase reflects organic growth in the Applied Sterilization Technologies and Life Sciences segments. The company focuses both on organic and inorganic strategies, such as acquisitions, and geographic expansions to further expand and maintain its leading market position. They acquired all outstanding equity interests in Cantel Medical LLC through a US subsidiary in June, 2021.
Sotera Health Company is a leading global provider of end-to-end critical sterilization solutions, lab testing, and advisory services for the healthcare industry. The company’s sterilization business is comprised of Sterigenics and Nordion. The combination of Sterigenics, terminal sterilization business, and Nordion, Co-60 supply business, makes it the only vertically integrated global gamma sterilization provider in the sterilization industry. The company’s expansions, and acquisitions help increase its market share, and strengthen its existing portfolio. The company’s net revenue was USD 931.5 million in 2021, an increase of USD 113.3 million compared to the previous year. This was attributed to the favorable impact of the Sterigenics segment and the increased demand for services related primarily to testing personal protective equipment used to provide protection against COVID-19. The company’s subsidiary, Sterigenics S.A.S., expanded its ethylene oxide (EO) facility located in Rantigny, France in March 2021 for helping the company grow in the global sterilization services market.
Related Reports:
Sterilization Services Market by Method (Electron beam, EtO, Steam, X-ray), Type (Contract Sterilization, Validation Services), Mode of Delivery (Off-site, On-site), End User (Medical Device, Pharmaceuticals, Hospitals, Clinics) - Global Forecast to 2027
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