Global Autoclave Market Outlook, Trend and Opportunity Analysis, Competitive Insights, Actionable Segmentation & Forecast 2024
The Global Autoclave Market was estimated at USD 3,500 million in 2017 and is expected to reach USD 5,610 million in 2024 at a lucrative CAGR of 6.7% during the forecast period.
Factor driving the market growth are increase incidence of nosocomial infection and increasing demand in end-use industry coupled with strong demand in research and development projects. Moreover, stringent government regulation towards the sanitation and hygiene policy in pharmaceutical and healthcare sector further is propelling the market growth. The years used for the assessment are as follows:
Historical year: 2014, 2015 and 2016
Base year: 2017
Forecast period: 2018 – 2024
The research and analysis is based on the data and information obtained from various primary and secondary sources. The data obtained is validated by interacting with the companies of the concerned domain. The steps involved in the research methodology are;
Obtaining historical data of the market based on news, articles, publications, annual reports, white papers, surveys, and other secondary sources
Interacting with key opinion leaders of the market and developing data points based on interaction with them
Study of past trends in the market and their year on year Impact on the market size and share
Analyzing the collected data points
Bridging the data points to calculate the total global autoclave market and its various segments
Anticipating potential risks
Analyzing market forces such as drivers, restraints, and opportunities to assess new growth areas for the global autoclave market
Finalizing the overall size and share of the global autoclave market
To analyze market trends, opportunities, drivers, and restraints associated with the global autoclave market
To study market response with respect to the mergers and acquisitions in the industry
To profile key companies operating in the global autoclave market and provide their competitive landscape
The research scope for global autoclave market is as follows:
By Product Type
Dry Heat Autoclave
Chemical Solution Autoclave
Glass Bead Autoclave
Middle East and Africa
Autoclave is a device that is used to sterilize surgical equipment, pharmaceutical items and other materials. It can sterilize liquids, solids, and instruments of various shapes & sizes. Autoclaves come in various sizes, shapes and functionality. This equipment uses steam to kill bacteria, spores and germs present in the surgical instruments. The principle behind this is that instruments are heated above their boiling point. Most clinics and hospitals use large autoclave, similar to a size of a microwave. They are so big in size that they can sterilize the instruments in a single sterilization cycle thus meeting the ongoing demand for sterile equipment in operating room and wards.
The demand of autoclaves equipments in dental industry is rising owing to increasing incidence of dental disorders as well as increasing number of dental surgeries. The autoclaves provide sterilization for dental equipment to remove harmful microorganisms. Government initiatives towards the hygiene policy and sanitization have forced the pharmaceutical and medical sector to adopt proper sterilization procedure thus boosting the demand for autoclave equipments in the global market.
North America held the largest market share of the global market in 2017. The growth in the region is attributed to increasing expenditure on pharmaceutical and healthcare coupled with growing number of hospitals and surgical centers. Additionally, technological advancement in autoclave equipment has led to its increasing application across various sectors, providing boost to the market growth. Asia-Pacific is expected to grow highest rate, owing to rising demand by healthcare sector, and increasing number of research and development projects across the region.