Sellbyville, Delaware, Oct. 23, 2018 (GLOBE NEWSWIRE) --
Global Steam Autoclaves Market is poised to cross USD 3.1 billion by 2024; according to a new research study published by Global Market Insights, Inc. Increase in prevalence of nosocomial infections have resulted in hospitals investing highly in superior disinfection and sterilization technologies to control and prevent such infections. Additionally, about 1 in 25 hospital patients has at least one healthcare-related infection. As per the European Centre for Disease Prevention and Control, approximately 3.5 million patients are affected by nosocomial infections every year. Hence, high nosocomial infection in the region will result in boosting the steam autoclaves demand.
The present decade is marked by novel technology innovations and notable improvements in the global healthcare delivery systems. Over the decades, hospitals have been focusing on competencies, leading to key functional areas to be outsourced to third-party providers such as the Central Sterile Services Department. Introduction of such crucial function in the hospitals that is related to complete sterilization will further augment the market growth.
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The burden of excise duty taxes on the manufacturers of medical devices is anticipated to hinder the overall profitability of steam autoclaves for vendors in emerging economies, thus resulting in elevated product prices. Hence, high cost of steam autoclave devices will result in decline in the product demand and adoption rate, hampering the industry growth.
The floor standing steam autoclaves market will witness a significant growth at a CAGR of 9.1% over the forecast period. It comprises large chambers that are used for sterilization of bulk material including biohazardous and medical waste. The increase in medical waste emission along with stringent regulations regarding optimal disposal of biohazardous waste will stimulate demand for floor standing steam autoclave over the forecast period.
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Pre-vacuum technology market was valued over USD 582.7 million in 2017 and is estimated to grow substantially over the projection timeframe. Pre-vacuum technology cycle is used in case of wrapped loads. Sterilization through this technology takes place over a series of pressurizations with steam and evacuations of the chamber using a mechanical vacuum system. The vacuum system provides more efficient sterilization as compared to other methods, especially in case of lumened medical equipment.
The sales of steam autoclaves for dental purposes is estimated to grow at a CAGR of 8.1% in the forthcoming years. Steam autoclaves are the most frequently used heat sterilizer in dental settings. Advances in dental processing equipment have empowered practices for the development of safer practices while realizing cost-effectiveness as well as efficiencies of steam autoclaves.
The sales of steam autoclaves in the hospitals in 2017 valued around USD 405.4 million and is projected to grow at a robust rate in the future. The use of large autoclaves is quite essential for proper functioning of every hospital. In order to prevent spread of infections in hospitals, steam autoclave is used to sterilize and disinfect medical instruments and equipment that are mostly used in everyday patient services, procedures and surgeries. Hence, increasing use of steam autoclaves in major healthcare facilities including hospitals will augment the market growth.
Italy market is projected to witness considerable amount of growth at 9.3% during the forecast timeframe. Increasing healthcare spending in Italy has stimulated the rise in demand for technology upgradation for advanced treatment and personalized medicines. The growing demand for personalized medicines and biopharmaceutical drugs will encourage demand for steam autoclave in order to maintain reliable sterilization of glass and other equipment.
Japan market dominated the Asia Pacific region and accounted for USD 103.4 million in 2017. The rise in number of wastes emitted from life science industries in the country will promote the demand and adoption rate of steam autoclaves in the country. Also, rising geriatric population base of Japan, improving healthcare infrastructure and growth of pharmaceutical sector will fuel business growth in the future.
Some of the major players in the steam autoclaves market include Getinge Infection Control, Tuttnauer, Priorclave, Matachana and Medisafe International. These companies focus on new product launches, product development, and research and development investment in order to maximize their product portfolio in the global market. Other strategies such as merger, acquisitions and collaborations have resulted in increasing the operational capabilities of the companies, hence expanding their market presence across the globe.
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About Global Market Insights
Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.