San Francisco, Oct 04 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.
Browse full research report on U.S. Sterilization Services Market:
www.grandviewresearch.com/industry-analysis/us-sterilization-services-market
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: 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
Browse press release of this report
by Grand View Research: 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
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