With the presence of a large pool of participants, the Global steam autoclaves market is displaying a highly competitive business landscape, finds a new research report by Zion Market Research (ZMR). Belimed, BMM Weston Ltd., Getinge Group, Astell Scientific, and Biotechnologies Incorporation are some of the key vendors of steam autoclaves across the world. These players are focusing aggressively on innovation, as well as on including advanced technologies in their existing products. Over the coming years, they are also expected to take up partnerships and mergers and acquisitions as their key strategy for business development, states the steam autoclaves market study.
Citing an instance, in April 2018, 3M Company declared that it’s 3M™ Attest™ Super Rapid Biological Indicator (BI) System for Steam, offering steam sterilizing results within 24 minutes, received a green signal from FDA.
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As estimated in this report, the global steam autoclaves market stood at US$ 1816.6 million in 2017. Witnessing a tremendous rise during the period from 2018 to 2023, the revenue in this steam autoclaves market is expected to reach US$ 2857.3 million by the end of the forecast period. The main products available in this steam autoclaves market are table top, vertical, horizontal, floor standing, and high pressure. Among them, the demand for table top & vertical steam autoclaves is relatively higher and the trend is anticipated to remain so over the next few years, notes the steam autoclaves market research report.
Immense Need To Prevent Healthcare Associated Infections To Trigger Growth
“Escalating demand for sterilization in hospitals & laboratories is a key factor dominating the growth of steam autoclaves market over the years to come,” says the author of this study. Growing number of cases of infection and need to handle biomedical wastes are likely to propel the expansion of steam autoclaves market in the years to come. Furthermore, high popularity of central sterile supply department in hospitals is anticipated to influence the steam autoclaves market revenue over the ensuing years.
High costs associated with steam autoclaves are likely to reduce its demand in small as well as medium-sized hospitals, thereby hindering the steam autoclaves market growth in the near future. Nevertheless, enforcement of strict legislations pertaining to biosafety along with rising popularity of portable autoclaves along with introduction of cost-effective equipment will favorably influence the growth potential of steam autoclaves market in the years ahead. This will normalize the impact of hindrances on the steam autoclaves market, reports the study.
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Favorable Government Policies To Succor North America Maintain Dominance
Regionally, North America has been leading the worldwide steam autoclaves market and is anticipated to continue on the dominant position in the years to come, states the steam autoclaves market study. Massive government investments in medical waste management systems are the main factor behind the dominance of the North America steam autoclaves market. The high number of market players being headquartered in North America is another significant factor that is supporting this regional steam autoclaves market.
- North America
- The U.S.
- Asia Pacific
- Latin America
- The Middle East and Africa
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