San Francisco, 05 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.
To request a sample copy or view summary of this report, click the link below:
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.
Access More Reports Of The Same Category: 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)
- E-beam radiation
- Gamma radiation
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)
U.S. Sterilization Services End-use Outlook (Revenue, USD Million, 2012 – 2025)
- Pharmaceutical companies
- Medical device companies
- Clinical laboratories
Browse Press Release of this Report: www.grandviewresearch.com/industry-analysis/us-sterilization-services-market
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