China Terminal Sterilization Services Market Size & Outlook
China terminal sterilization services market, 2018-2030 (US$M)
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China terminal sterilization services market highlights
- The China terminal sterilization services market generated a revenue of USD 519.0 million in 2022 and is expected to reach USD 1,220.3 million by 2030.
- The China market is expected to grow at a CAGR of 11.3% from 2023 to 2030.
- In terms of segment, ethylene oxide was the largest revenue generating product in 2022.
- Irradiation is the most lucrative product segment registering the fastest growth during the forecast period.
Terminal sterilization services market data book summary
| Market revenue in 2022 | USD 519.0 million |
| Market revenue in 2030 | USD 1,220.3 million |
| Growth rate | 11.3% (CAGR from 2022 to 2030) |
| Largest segment | Ethylene oxide |
| Fastest growing segment | Irradiation |
| Historical data | 2018 - 2021 |
| Base year | 2022 |
| Forecast period | 2023 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Ethylene Oxide, Irradiation, Moist Heat Terminal Sterilization, Other Products |
| Key market players worldwide | Steris PLC, 3M Co, Getinge AB Class B, Fortive Corp, Belimed Inc., Sotera Health Co Ordinary Shares, Olympus Corp, Andersen Sterilizers, Steelco Group |
Other key industry trends
- In terms of revenue, China accounted for 4.8% of the global terminal sterilization services market in 2022.
- Country-wise, U.S. is expected to lead the global market in terms of revenue in 2030.
- In Asia Pacific, China terminal sterilization services market is projected to lead the regional market in terms of revenue in 2030.
- India is the fastest growing regional market in Asia Pacific and is projected to reach USD 943.2 million by 2030.
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Terminal Sterilization Services Market Scope
Terminal Sterilization Services Market Companies
| Name | Profile | # Employees | HQ | Website |
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China terminal sterilization services market outlook
The databook is designed to serve as a comprehensive guide to navigating this sector. The databook focuses on market statistics denoted in the form of revenue and y-o-y growth and CAGR across the globe and regions. A detailed competitive and opportunity analyses related to terminal sterilization services market will help companies and investors design strategic landscapes.
Ethylene oxide was the largest segment with a revenue share of 41.04% in 2022. Horizon Databook has segmented the China terminal sterilization services market based on ethylene oxide, irradiation, moist heat terminal sterilization, other products covering the revenue growth of each sub-segment from 2018 to 2030.
Increasing usage of terminal sterilization services in China for sterilizing medical devices, equipment, and other products is expected to drive the market growth in the country over the forecast period. In addition, increased spending on healthcare is expected to boost the demand for terminal sterilization services in China during the forecast period.
For instance, as per The State Council, the People’s Republic of China, the total expenditure on health increased by 15.2% in 2020 from 2019. Moreover, in March 2019, the Chinese government announced reduction in VAT for medical manufacturing companies from 13.3% to 13.0%.
This announcement is expected to help domestic manufacturers, including manufacturers of sterilizers, offset the slowdown caused due to the U.S.–China trade war. It is also estimated that by 2040, China will have a population of 402 million people aged above 60, i.e., 28% of its total population.
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Our clientele includes a mix of terminal sterilization services market companies, investment firms, advisory firms & academic institutions.
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30% of our revenue is generated working with investment firms and helping them identify viable opportunity areas.
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Approximately 65% of our revenue is generated working with competitive intelligence & market intelligence teams of market participants (manufacturers, service providers, etc.).
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Horizon Databook provides a detailed overview of country-level data and insights on the China terminal sterilization services market, including forecasts for subscribers. This country databook contains high-level insights into China terminal sterilization services market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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China terminal sterilization service market size, by product, 2018-2030 (US$M)
China Terminal Sterilization Services Market Share, 2022 & 2030 (US$M)
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