Autoclaves Market is Expected to Reach 5.3% CAGR by The End of 2030
The global autoclaves market will exhibit 5.3% CAGR between 2022 and 2030, especially as demand for sterilization and disinfections continue rising across hospitals, academic and research institutes, biopharmaceutical companies, and other facilities, finds Future Market Insights (FMI) in a new study.
As per the report, increasing cases of hospital acquired infections will encourage investment in autoclaves across healthcare facilities.
According to the Centers for Disease Control and Prevention (CDC), on any given day, about 1 in 31 hospital patients has at least one health-care associated infection.
Autoclaving destroys microorganisms with higher efficiency than dry heat. Hence autoclaves are registering increasing applications in the healthcare industry.
While the outbreak of novel coronavirus has taken a toll on the market affecting its growth, it is recovering steadily to bounce back.
Patient admissions in hospitals and other healthcare facilities has increased, which is in turn fuelling the demand for autoclaves in the recent year.
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FMI offers an in-depth analysis and overview of the global autoclaves market, covering factors enabling its growth, creating prospects, and key threats.
Some of the key takeaways from the report are highlighted below-
- Rise in demand for gravity autoclaves is projected to fuel the growth of the market during the forecast period between 2020 and 2030
- Floor standing autoclaves will gain traction due to the high for laboratory applications
- The demand for front loading type autoclave is expected to be higher than top loading and pass through
- Cylindrical autoclaves will be highly sought-after among chamber types
- Academic and research institutes will continue exhibiting high demand for autoclaves
- North America will dominate in the global market followed by Europe
COVID-19 Impact Analysis
The outbreak of COVID-19 pandemic caused decline in the growth of market earlier this year.
The sudden lockdown, coupled with restrictions imposed, had severely affected manufacturing units of the autoclaves.
However, autoclaves being an integral part of the sterilization process started experiencing surge in demand soon after getting over the temporary period of lull.
The ongoing pandemic has resulted in higher requirement for sterilized and clean environment across healthcare facilities, which is substantially pushing the demand curve for autoclaves upward.
As per Medical Product Outsourcing (MPO), autoclaves are staples in the healthcare industry and they are used extensively for high-pressure steam sterilization on various tools and industrial components, especially during COVID-19 pandemic.
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According to the World Health Organization (WHO), biosafety levels BSL-2 and BSL-3 are required in order to handle COVID-19 by maintaining clean and safe environment.
As laboratory autoclaves are ideal for sterilization of contaminated instruments, waste, laboratory equipment, and others while maintaining these standards, they are highly required in diverse end-user industries starting from pathology laboratories to academic and research institutes.
Who is Winning?
Competition in the global autoclaves market has been rising steadily. In order to strengthen their foothold, market players are focusing their efforts towards exploring and capitalizing on new opportunities.
This has resulted in a slew of product launches in the last few years.
For instance, Benchmark Scientific has launched their new range of BIOCLAVE
Panasonic Biomedical has launched their new extensive range of laboratory autoclaves such as MLS-3020U, MLS-3751L, MLS-3781L, and others in the recent year.
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