Steam Autoclave Market Key Growth Drivers, Competitive Landscape and Global Forecast 2032
Steam autoclaves are equipment required for sterilization of medical supplies due to their non-toxic and inexpensive nature. The supplies are subjected to high-pressure steam levels for penetrating fabrics. The global steam autoclave market report by Market Research Future (MRFR) provides readers with substantial information on the current scenario as well as future prospects for the period during 2024 to2032.
Market Overview
The global steam autoclave market is anticipated to touch a size of significance by exhibiting a CAGR of 2.65% from 2024 to 2032 (forecast period). High prevalence of infections in hospitals and clinics are one of the biggest drivers of the market. The large number of hospital-acquired infections (HAI) has prompted governments to take measures to prevent the proliferation of infections. According to a survey by the Centers for Disease Control & Prevention (CDC), 1 in 3 people were diagnosed with HAI in 2018.
Emergence of life science laboratories to combat the menace of growing prevalence of chronic diseases can drive the steam autoclave market demand till 2023. The rising volume of biomedical waste generated from hospitals and other institutes in the medical sector is likely to trigger the need for sterilizing equipment. Development of novel technologies which can lower the production cost of steam autoclaves can bolster the market revenues. This is exemplified by the launch of new autoclave products capable of handling large volumes of equipment.
But strict regulations pertaining to disinfection and rise of disposable products can impede the market growth.
Segmentation
The global steam autoclave market report is segmented by product, technology, application, and end-user.
By product, it is segmented into high pressure, floor standing, tabletop, vertical, and horizontal.
Technologies discussed in the market report include steam flush pressure pulse, gravity displacement, and pre-vacuum.
Major applications include laboratory, medical, dental, and others.
End-users in the global steam autoclave market include academic and research institutes, hospitals and clinics, healthcare organizations, and others.
Regional Analysis
The Americas, Asia Pacific (APAC), Europe, and the Middle East & Africa (MEA) are regions taken into consideration during the compilation of the global steam autoclave market report.
The Americas can dominate the global market due to the increase in healthcare budget of prominent nations. Efforts taken by governments to prevent the proliferation of disinfection and further propagation of new diseases can drive the market demand. This is exemplified by the 2018 report by the Centers Medicare and Medicaid Services which stated the ballooning of the U.S. health expenditure to USD 3.3 trillion in 2016.
Europe is the second-largest region of potential to the market due to a well-defined healthcare regulatory framework and rollout of policies supporting cleanliness in hospital environments.
The APAC region is touted to exhibit the fastest growth rate during the forecast period due to the copious amount of medical waste generated annually in the developing economies of China and India. The large patient pool as well as the establishment of new hospital units by large medical hospitality service companies can trigger the need for steam autoclaves. The large healthcare budget of nations in the region is a positive indicator of the large potential for the global steam autoclave market till 2023.
The MEA region has the lowest market share due to large number of government initiatives developed to assist patients and improve the existing indoor environment of hospitals.
Competition Outlook
Steam Autoclave Market Players BMM Weston Ltd., Priorclave Ltd., Sterigenics International LLC, MATACHANA GROUP, Astell Scientific, PHC Corporation, Accumax India, Tuttnauer, Getinge AB, LTE Scientific Ltd, ZIRBUS technology GmbH, STERIS plc, Mar Cor Purification Inc., Belimed, Consolidated Sterilizer Systems, and others are reputed players of the global steam autoclave market. Mergers, acquisitions, and alliances are strategies followed by these players to sustain their position in the market.
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