Revenue will grow through 2017 as the population ages, exports increase
Los Angeles, CA (PRWEB) October 10, 2012
Over the past five years, the Ultrasonic Cleaning Equipment Manufacturing industry has experienced sustained growth. In the five years to 2012, industry revenue is expected to increase at an average annual rate of 5.9% to an estimated $223.9 million, according to IBISWorld industry analyst Caitlin Moldvay. The industry includes domestic manufacturers that produce devices that use high-frequency sound waves to remove surface contaminants from medical and dental equipment, prior to sterilization. These devices are used in an array of downstream industries, including hospitals, primary care offices, veterinary services, dentists, ophthalmologists and opticians offices. Ultrasonic cleaning equipment is the dominant method used for cleaning medical and dental equipment; therefore, demand for industry devices trends in line with overall healthcare spending, which was relatively resilient to the economic recession. In 2012, as a result of an uptick in the number of physician visits and spending on medical devices, industry revenue is expected to rise 5.8%.
Given the niche product offering of the Ultrasonic Cleaning Equipment Manufacturing industry, only an estimated 13 manufacturers operate domestically that primarily manufacture industry devices. This represents average annual growth of 1.6%, or the addition of one company, compared to five years ago, Moldvay says. The industry's leaders include Blue Wave Ultrasonics, Mettler Electronics Corp., L&R Manufacturing and SharperTek USA.
Over the five years to 2017, the Ultrasonic Cleaning Equipment Manufacturing industry is expected to continue its upward trajectory. During this period, industry revenue is projected to. Rising healthcare spending, driven in part by the healthcare reform and the gradual aging of the US population, will boost spending on industry devices required for cleaning medical and dental instruments. Furthermore, growth opportunities in emerging economies are expected to boost the share of revenue derived from export markets, positively supporting revenue gains for the industry. The industry exhibits a high level of market share concentration. While the number of firms is low compared to other medical device manufacturing companies, ultrasonic cleaning equipment is relatively new technology and is expected to grow due to innovations in industry products. For more information, visit IBISWorld’s Ultrasonic Cleaning Equipment Manufacturing in the US industry report page.
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IBISWorld industry Report Key Topics
This industry includes companies that domestically manufacture ultrasonic cleaning equipment for medical and dental use. An ultrasonic cleaner is a cleaning device that uses ultrasound and an appropriate cleaning solvent to clean delicate items, such as medical and dental instruments.
Key External Drivers
Industry Life Cycle
Products & Markets
Products & Services
Globalization & Trade
Market Share Concentration
Key Success Factors
Cost Structure Benchmarks
Barriers to Entry
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