Steam Autoclave Market to Rise to US$ 2.57 Billion by 2024

According to the TMR report, the global steam autoclave market is likely to clock 5.7% CAGR over the forecast period between 2016 and 2024, for the market to be worth US$2.57 bn by 2024. The demand in the market translated into an opportunity of US$1.57 bn in 2015. Among the key product types, traditional steam autoclaves surpass tabletop ones in terms of demand; the former held more than 91% market share in 2015. Geography-wise, North America stood as the clear leader in 2015 holding close to 40% share in the overall market.

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The surging number of surgical procedures carried out every year across the world has been greatly influencing the demand for steam autoclaves. As per the Centers for Disease Control and Prevention, almost 46.5 million surgeries and around 5 million endoscopic procedures are performed every year in the U.S. alone. In other regions, such as developing economies of Asia Pacific, a large population base, and growth of the medical tourism industry stoke demand for steam autoclaves as they are an essential component of healthcare facilities.

Apart from this, the alarming pace of rising and seriousness of hospital-acquired infections is another key factor behind the growth of steam autoclave market. In the U.S., in 2012, nearly 8.3 patients of every 1,000 admissions in New York state hospitals led to hospital-onset clostridium difficile infections. In addition, increasing prevalence of nosocomial infections is another concern necessitating effective sterilization processes in healthcare settings. These factors coupled with rising focus on patient safety will boost the global steam autoclave market in the coming years.

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Introduction of technologically advanced and par excellence products such as gamma irradiation and E-beam are likely to further act in favor of the market. Product versatility and low cost of new products are likely to aid the global steam autoclave market display significant growth in the upcoming years.

On the downside, increasing usage of disposable products in healthcare settings, which are either meant for one-time use or require little to zero sanitization until suitable to be used, could pose a major challenge for the growth of this market. In addition, excise duty imposed on manufacturers of medical devices is likely to negatively impact the overall profitability of steam autoclave vendors leading to increased product prices. This could have a negative impact on the growth of the overall steam autoclave market, particularly in cost-sensitive developing regions.

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The global steam autoclave market is oligopolistic in nature rendering extreme consolidation and intense competition, reveals Transparency Market Research (TMR) in a new report. STERIS, Johnson & Johnson, and Getinge Group are the big shots that accounted for nearly two-third market share in 2015. Presence of a handful of steam autoclave device manufacturers with a vast product portfolio and preference of customers for long-term contracts further reinforces the position of big shots in the market. Despite high entry barriers, product innovation, manufacture of cost-effective products, and strategies for expansion into regional markets could help new entrants in the market sustain amidst intense competition.

Some other players operating in the steam autoclave market are 3M Healthcare, CISA Group, CISA Group, Belimed Group, Matachana Group, and SAKURA SI CO. LTD.

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