Steam Autoclaves Market will achieve 8.7% CAGR to exceed $3 billion by 2024

Global Steam Autoclaves Market to cross USD 3 billion by 2024; as per a new research report by Global Market Insights, Inc.Increase in demand of steam autoclaves for managing hazardous biomedical waste will drive the business growth during the forecast timeframe. The U.S. central government had passed The Medical Waste Tracking Act in 1988, setting the standards for government regulation of medical wastes and to handle the disposal of medical wastes in the coastal areas of New Jersey, New York, Rhode Island, Connecticut and Puerto Rico, owing to numerous medical and household waste throughout various coastal areas. The rise in need to treat and manage biomedical waste will boost the steam autoclaves market growth in near future.

Nosocomial infection or hospital-acquired infection (HAI) has witnessed a gradual increase in the past couple of years. The infection is majorly caused by virus, bacteria or fungal pathogen and slowly becoming the paramount cause of mortality and morbidity across the globe, causing massive economic burden. Increase in prevalence of nosocomial infections in the Europe region will result in growing demand and adoption rate of steam autoclaves, fuelling the business growth in forthcoming years.

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The availability and development of growing array of disposable items for use in the health professions have accelerated in recent years. One of the recent infection control areas of discussion includes dental burs. Dental burs are a significant tool used for procedures such as tooth contouring, restorative filling procedures and endodontic procedures. From an infection control point of view, the risk of patient–to patient cross–infection can be eliminated, resulting in decline in the use of steam autoclaves, impeding the growth of steam autoclaves market.

Vertical steam autoclaves market held the largest market share in the year 2017 and valued at around USD 442.6 million. Vertical steam autoclaves provide efficient and safe sterilisation. Increase in use of vertical steam autoclaves in hospitals, clinics, bacteriological and research laboratories, beverage and food units will result in growing demand, thereby augmenting the business growth.
Table top steam autoclaves market will witness considerable amount of advancement at a CAGR of 9.4% over the forecast period. The growing demand for portable devices will drive table top steam autoclaves market over the forecast period. In addition, automated devices have led to development of automatic table top steam autoclaves with varied volume sizes, resulting in growing demand and adoption rate of steam autoclaves.

U.S. steam autoclaves market dominated the North America region and was valued at around USD 467.7 million in the year 2017. Increase in incidents of rare diseases, growing number of research organizations and increasing R&D investment for new drug development will positively impact market growth. Also, increasing geriatric population prone to suffer from various chronic diseases and growing demand for biopharmaceuticals will fuel U.S. steam autoclaves market growth in the near future.

China steam autoclaves market is estimated to grow at a CAGR of 9.8% in the near future. The rising amount of industrial hazardous as well as medical waste creates pressure for optimal waste management in order to safeguard public health and environment. The growing demand for personalized medicines, increasing healthcare spending by government as well as growth of pharmaceutical industry will drive China steam autoclaves market over the coming years.

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Some of the leading players in the steam autoclaves market include Getinge Infection Control, Tuttnauer, Priorclave, Matachana and Medisafe International. These companies focus on decisions to increase the research and development investment. Merger and acquisitions have resulted in increasing the operational capabilities of the companies and increased their efficiency to expand in the market by providing better solutions. Also, new product launches in several different geographical regions will enhance the growth of the companies. For instance, in May 2018, Getinge announced the launch of next generation steam autoclaves, GSS Steam Sterilizer series, developed specifically for biomedical research and pharmaceutical production by the companies in the life science industry.

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