South Korea Terminal Sterilization Services Market Size & Outlook
South Korea terminal sterilization services market, 2018-2030 (US$M)
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South Korea terminal sterilization services market highlights
- The South Korea terminal sterilization services market generated a revenue of USD 140.8 million in 2022 and is expected to reach USD 306.5 million by 2030.
- The South Korea market is expected to grow at a CAGR of 10.2% 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 140.8 million |
| Market revenue in 2030 | USD 306.5 million |
| Growth rate | 10.2% (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, South Korea accounted for 1.3% 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 |
|---|
South Korea 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 41.05% in 2022. Horizon Databook has segmented the South Korea 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.
According to WHO, there has been increase in new cases of COVID-19 in South Korea, which has taken the total number of cases to 6,53,792 as of 7th January 2022. According to OECD, 23% of deaths in South Korea are due to ischemic heart disease.
Thus, increasing prevalence of COVID-19 and growing incidence of chronic diseases, such as cardiovascular diseases, are among factors expected to increase hospital admission rates, leading to increased demand for terminal sterilization services in South Korea.
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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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Horizon Databook provides a detailed overview of country-level data and insights on the South Korea terminal sterilization services market, including forecasts for subscribers. This country databook contains high-level insights into South Korea terminal sterilization services market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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South Korea terminal sterilization service market size, by product, 2018-2030 (US$M)
South Korea Terminal Sterilization Services Market Share, 2022 & 2030 (US$M)
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