SEATTLE, July 18, 2018 (GLOBE NEWSWIRE) -- According to Coherent Market Insights, the global portable steam autoclave market is estimated to be valued at US$ 975 million in 2017, and is projected to exhibit a CAGR of 7.2% over the forecast period (2018 – 2026).
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Key Trends and Analysis of the portable steam autoclave market: Global efforts to decrease the incidence of hospital acquired infections from medical equipment and other instruments are expected to increase the adoption of portable steam autoclaves. Rising number of medical procedures such as endoscopy and colonoscopy, is in turn, increases the demand for sterilization. For instance, according to World Health Organization (WHO) factsheet, in developed economies, 7 out of 100 hospitalized patients acquire one or the other hospital-acquired infections, whereas, in emerging economies, the ratio is 10 out of 100. According to study published by John Hopkins Medicine in May 2018, the rate of infection-related hospitalization from GI endoscopies was over 59 patients per 1,000. This high number of infection is expected to boost the adoption of portable steam autoclaves in the near future.
Furthermore, guidelines that specify sterilization procedures for different medical and lab equipment contributes to standardization of the procedure for each category of device, which increases the adoption of portable steam autoclave devices. American Academy of Ophthalmology in 2018, published guidelines for intraocular surgical instruments, which specifies about sterilization process and equipment in preventing infection and other risks. American Dental Association has published sterilization guidelines for dental equipment and updates the same periodically.
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Key Market Takeaways:
- The portable steam autoclave market is expected to exhibit a CAGR of 7.2% during the forecast period (2018– 2026), attributed to increased incidence of hospital-acquired infections, guidelines by regulatory bodies for sterilization of medical and other devices, and increasing research and development activities.
- Market is fragmented with presence of local players in emerging regions, however, key players differentiate themselves based on innovative products
- Some of the major players operating in the global portable steam autoclave market 3M Company, Steris Corporation, Cantel Medical Corporation, Asceptico, Labtron Equipment Ltd., GPC Medical Ltd., CIS GROUP, LTE Scientific, Anderson products, Advanced Sterilization Products, and MMM Group
To know the latest trends and insights prevalent in this market, click the link below:
https://www.coherentmarketinsights.com/market-insight/portable-steam-autoclave-market-1964