Steam Autoclave Market - Latest Innovations, Drivers, Restraints, Challenges and Forecast 2016 - 2024

The global steam autoclaves market is marked by intense competitive rivalry and high entry barriers for new vendors, typical of markets featuring high consolidation, reports a recent study by Transparency Market Research (TMR). The oligopolistic market witnesses the dominance of companies such as STERIS, Getinge Group, and Johnson & Johnson, which collectively held close to two-third of the overall market in 2015.

The presence of a very small number of product manufacturers, preference of buyers for long-term contracts with steam autoclave devices manufacturers, and broad product portfolios have further reinforced the standing of leading vendors in the market. Product innovations, production of economic products, and strategies aimed at expansion in emerging regional markets could aid small vendors in the market carve out new growth channels in the near future. Other notable vendors operating amid intense competition in the global steam autoclave market are 3M Health Care, Belimed Group, CISA Group, Matachana Group, CISA Group, and SAKURA SI CO., LTD.

Read Full Press Release: http://www.transparencymarketresearch.com/pressrelease/steam-autoclave-market.htm

Rising Number of Surgeries and Hospital-acquired Infections Stimulate Adoption of Steam Autoclaves in Healthcare Settings

The vast increase in the number of surgical procedures undertaken across the globe every year has played a major role in the increased consumption of steam autoclaves globally in the past few years. The Centers for Disease Control and Prevention states that in U.S. alone, nearly 46.5 mn surgeries and around 5 mn endoscopies are performed every year. In other regions as well, such as the developing parts of Asia Pacific, which are marked by large population bases and flourishing medical tourism industries, a massive rise in the number of surgical procedures has been seen in the past few years.

Compounding the need for effective sterilization mechanisms in healthcare settings in addition to abovementioned factor is the concern regarding rising prevalence of nosocomial infections across the globe. These factors, in addition to the rising focus on patient safety, will allow the global steam autoclave market gain traction in the next few years.

Technological Advancements to Fuel Market’s Growth

The market has witnessed the introduction of several technologically advanced and increasingly effective products such as E-beam and gamma irradiation, which are further boosting the market’s growth prospects. High product compatibility and low cost of these new products are expected to help the global steam autoclave market gain significant momentum over the forecasting horizon.

Download exclusive Sample of this Report: http://www.transparencymarketresearch.com/sample/sample.php?flag=S&rep_id=3997

However, the increased usage of disposable devices across healthcare settings, which are not meant to be reused and require little or no sanitization over their usable life, could emerge as a major restraint for the overall growth of the market. Moreover, the imposition of excise duty taxes on the manufacturers of medical devices is also expected to hamper the overall profitability of steam autoclaves for vendors, thus resulting in increased product prices. This factor could also have a negative impact on the market’s growth prospects, especially in cost-sensitive developing regions.

In terms of popularity of product varieties available in the market, including traditional steam autoclaves and tabletop steam autoclaves, the market is again highly consolidated. The segment of traditional autoclaves accounted for a share of over 91% in the market in 2015. The segment is also expected to expand at the highest CAGR of 5.8% over the period between 2016 and 2024. North America was the leading regional market in 2015, with nearly 40% share in the market in terms of revenue in 2015.

On a whole, the global autoclave market was worth US$1.57 bn in 2015. Expected to rise at a healthy 5.7% CAGR from 2016 to 2024, the market is projected to touch US$2.57 bn by 2024.

This review is based on a latest market intelligence report published by Transparency Market Research, titled “Steam Autoclave Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2016 - 2024.”

Steam Autoclave Market: Business Challenges, Emerging Technologies & Competitive Landscape

The vast rise in the number of surgical procedures undertaken globally, the huge surge in a variety of infections affecting humans, and the alarming rise in the occurrence of hospital-acquired infections has increased the focus on the critical need of effective sanitization practices and devices in healthcare environments. Steam autoclaves, which play a key role in the sterilization of surgical devices and healthcare waste in healthcare environments, are thus witnessing a significant rise in global demand.

In the intensely competitive and consolidated global market for steam autoclaves, emerging economies such as Latin America and Asia Pacific are emerging as the future growth destinations for companies struggling to gain sustainable returns. The market has demonstrated high growth opportunities for advanced product varieties based on novel technologies such as gamma irradiation and E-beam (electron beam) irradiation.

Read Full Press Release: http://www.transparencymarketresearch.com/pressrelease/steam-autoclave-market.htm

According to a recent market research report by Transparency Market Research, the opportunity in the global steam autoclave market was pegged at US$1.57 bn in 2015. Rising at a promising CAGR of 5.7% over the period between 2016 and 2024, the market is expected to reach US$2.57 bn by 2024.

Q. What role are developed economies playing in the development of the global steam autoclave market?

A. Developed economies across North America and Europe presently hold commanding positions in the market for steam autoclaves and play a key role in its overall development in terms of new product launches and technological advancements. North America alone accounted for a massive 40% of the global steam autoclave market in 2015, chief reason being the vast number of surgeries taking place in the region every year. Reports suggest that in the U.S. alone, nearly 45 mn surgeries take place annually on an average.

This significantly raises the concern and potential of prevalence of hospital-acquired infections, calling the intense need for effective sanitation practices across healthcare infrastructures in North America and Europe. Apart from this, the strict observance of many stringent rules with the aim of enhancing patient safety in healthcare premises is expected to influence the adoption of steam autoclaves in these regions at an encouraging pace in the next few years.

Download exclusive Sample of this Report: http://www.transparencymarketresearch.com/sample/sample.php?flag=S&rep_id=3997

Q. Are developed economies also expected to remain at the forefront of market’s future development?

A. Despite the dominance of North America and Europe, the steam autoclave market is expected to gain the most lucrative returns from emerging economies in regions such as Asia Pacific and Latin America in the next few years. The market for steam autoclave in Asia Pacific, especially, is expected to lead to vast growth opportunities for the global steam autoclave market owing to the increased focus on development of healthcare infrastructure across countries such as India, China, and South Korea. The market in Asia Pacific is also expected to outpace the markets across North America and Europe in terms of growth rate over the period between 2016 and 2024, exhibiting a nearly 8% CAGR.

Owing to this factor, many leading companies in the global steam autoclave market are venturing into the Asia Pacific market through mergers, acquisitions, and consolidation strategies with vendors native to the region or through establishment of operations and manufacturing facilities. Introduction of economic products could help vendors tap the vast untapped opportunities in the region with ease.

Steam Autoclave Market: Business Challenges, Emerging Technologies & Competitive Landscape

The global steam autoclaves market is marked by intense competitive rivalry and high entry barriers for new vendors, typical of markets featuring high consolidation, reports a recent study by Transparency Market Research (TMR). The oligopolistic market witnesses the dominance of companies such as STERIS, Getinge Group, and Johnson & Johnson, which collectively held close to two-third of the overall market in 2015.

The presence of a very small number of product manufacturers, preference of buyers for long-term contracts with steam autoclave devices manufacturers, and broad product portfolios have further reinforced the standing of leading vendors in the market. Product innovations, production of economic products, and strategies aimed at expansion in emerging regional markets could aid small vendors in the market carve out new growth channels in the near future. Other notable vendors operating amid intense competition in the global steam autoclave market are 3M Health Care, Belimed Group, CISA Group, Matachana Group, CISA Group, and SAKURA SI CO., LTD.

Rising Number of Surgeries and Hospital-acquired Infections Stimulate Adoption of Steam Autoclaves in Healthcare Settings

The vast increase in the number of surgical procedures undertaken across the globe every year has played a major role in the increased consumption of steam autoclaves globally in the past few years. The Centers for Disease Control and Prevention states that in U.S. alone, nearly 46.5 mn surgeries and around 5 mn endoscopies are performed every year. In other regions as well, such as the developing parts of Asia Pacific, which are marked by large population bases and flourishing medical tourism industries, a massive rise in the number of surgical procedures has been seen in the past few years.

Compounding the need for effective sterilization mechanisms in healthcare settings in addition to abovementioned factor is the concern regarding rising prevalence of nosocomial infections across the globe. These factors, in addition to the rising focus on patient safety, will allow the global steam autoclave market gain traction in the next few years.

Technological Advancements to Fuel Market’s Growth

The market has witnessed the introduction of several technologically advanced and increasingly effective products such as E-beam and gamma irradiation, which are further boosting the market’s growth prospects. High product compatibility and low cost of these new products are expected to help the global steam autoclave market gain significant momentum over the forecasting horizon.

Download exclusive Sample of this Report: http://www.transparencymarketresearch.com/sample/sample.php?flag=S&rep_id=3997

However, the increased usage of disposable devices across healthcare settings, which are not meant to be reused and require little or no sanitization over their usable life, could emerge as a major restraint for the overall growth of the market. Moreover, the imposition of excise duty taxes on the manufacturers of medical devices is also expected to hamper the overall profitability of steam autoclaves for vendors, thus resulting in increased product prices. This factor could also have a negative impact on the market’s growth prospects, especially in cost-sensitive developing regions.

In terms of popularity of product varieties available in the market, including traditional steam autoclaves and tabletop steam autoclaves, the market is again highly consolidated. The segment of traditional autoclaves accounted for a share of over 91% in the market in 2015. The segment is also expected to expand at the highest CAGR of 5.8% over the period between 2016 and 2024. North America was the leading regional market in 2015, with nearly 40% share in the market in terms of revenue in 2015.

On a whole, the global autoclave market was worth US$1.57 bn in 2015. Expected to rise at a healthy 5.7% CAGR from 2016 to 2024, the market is projected to touch US$2.57 bn by 2024.

This review is based on a latest market intelligence report published by Transparency Market Research, titled “Steam Autoclave Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2016 - 2024.”