San Francisco, 03 October
2018, The U.S.Sterilization Services Market size is expected to reach USD
2.72 billion by 2025, according to a new report by Grand View Research, Inc.,
registering a 5.1% CAGR during the forecast period. Supportive government
investments in the healthcare industry, increasing R&D activities, and rising
volume of drug launches are key factors impacting market growth.
The U.S. government has been keen on
curbing healthcare costs and this is anticipated to encourage the FDA to speed
up approval procedures for generic pharmaceuticals. Faster approvals drive the
need for newer sterility testing methods, compelling innovative market
participants to spend more on such solutions, thereby propelling the market.
With increasing demand for drugs, companies are launching newer drugs with
different routes of administration, dosage, or for a new indication. These
launches require thorough sterility testing and this is anticipated to drive
market growth.
By end use, the market is divided into
hospitals, pharmaceuticals, medical device companies, clinical laboratories/research
centers, and others, which includes food and beverage companies. Hospitals
dominated the overall sterilization services market in 2016 and the segment is
expected to retain its top position throughout the forecast period. Increasing
incidence of hospital-acquired infections, growing number of surgical
procedures, and constantly rising patient pool are prime factors driving this
segment.
Currently, the U.S. sterilization services
industry is consolidated in nature with only a few top companies capturing the
major share. Some of the leading players are STERIS Corporation; Getinge Group;
and Advanced Sterilization Products Services, Inc. Other prominent companies
include 3M, Belimed, Cantel Medical, MATACHANA GROUP, and Sterigenics
International LLC. In September 2016, Cantel announced the acquisition of
Vantage Endoscopy’s endoscopy assets. This expansion of direct sales and
acquisition of assets of its Canadian distributor is expected to strengthen the
company’s position in the infection prevention market.
Full Research Report On U.S. Sterilization Services Market Analysis:
Further
key findings from the report suggest:
·
The U.S. sterilization services market was
valued at USD 1.83 billion in 2017 and is expected to grow lucratively over the
forecast period
·
In terms of revenue, the offsite delivery
mode segment is anticipated to exhibit a strong growth rate through 2025
·
The contract services market was valued at
USD 1.27 billion in 2017 and is anticipated to register the fastest CAGR over
the forecast period.
Browse More Reports Of This Category By Grand View Research At: www.grandviewresearch.com/industry/healthcare
Grand View Research has segmented the U.S. sterilization
services market on the basis of technique, type, delivery mode, and end use:
U.S. Sterilization Services Technique
Outlook (Revenue, USD Million, 2012 - 2025)
·
Steam
·
EtO
·
E-beam radiation
·
Gamma radiation
·
Others
U.S. Sterilization Services Type Outlook
(Revenue, USD Million, 2012 - 2025)
·
Contract services
·
Validation services
U.S. Sterilization Services Delivery Mode
Outlook (Revenue, USD Million, 2012 - 2025)
·
Onsite
·
Offsite
U.S. Sterilization Services End-use Outlook
(Revenue, USD Million, 2012 - 2025)
·
Hospitals
·
Pharmaceutical companies
·
Medical device companies
·
Clinical laboratories
·
Others
Access
Full Press Release of this Report:
www.grandviewresearch.com/press-release/us-sterilization-services-market-analysis
www.grandviewresearch.com/press-release/us-sterilization-services-market-analysis
About Grand View Research
Grand View Research, Inc. is a U.S. based market research
and consulting company, registered in the State of California and headquartered
in San Francisco. The company provides syndicated research reports, customized
research reports, and consulting services. To help clients make informed
business decisions, we offer market intelligence studies ensuring relevant and
fact-based research across a range of industries, from technology to chemicals,
materials and healthcare.
For
more information: www.grandviewresearch.com
