The size of the Latin America Steam Autoclave Market was valued at USD 0.24 billion in 2022. It is further estimated to be growing at a CAGR of 8.2% and worth USD 0.35 billion by 2027.
An autoclave is a pressure chamber where different processes are carried, requiring elevated temperature and pressure different from the normal air pressure. It plays an important role in the sterilization of healthcare waste in hospitals and dental clinics. Medical devices have to autoclave after usage because they may contaminate.
The need for steam autoclaves is increasing growing to the raising patient awareness about the benefits of autoclaves and sterilization, which will help drive the market growth. The high rate of infectious diseases and the improving health infrastructure are contributing to the growth for steam autoclaves market in Latin America. Increased prevalence of nosocomial infections, poor sterilization techniques, and high risk of transmissible diseases such as HIV, AIDS, Hepatitis, anaerobic infections and cross contamination, are likely to enhance Latin American steam autoclave market growth during the forecast period of 2020 -2027. Steam autoclaves can be seen used in medical, dental, biotechnology and pharmaceutical industry where strict hygiene protocols should be followed for successful diagnosis and treatment. Currently, steam autoclaves are in demand to limit the spread of communicable diseases such as COVID-19, which provides immense opportunities for the market growth during the period of forecast mentioned above.
Medical grade steam autoclaves are optimized for continuous hospital use for sterilizing surgical instruments, accessories and medical equipments that come in close contact with doctors and patients during operative and post- operative phase. Autoclaving is cost effective cheap method in large scale hospitals, resulting in an increasing demand for equipment. The growing influx of patients and high hospitalization rate has further increased the adoption rate of the product. The adaptation of medical grade autoclaves is high in developing countries, where chronic disease are more common. The growing healthcare expenditure and product development has increased its demand. In addition, several government initiatives to irradiate medical wastes and promote healthcare is anticipate to drive the LATAM steam autoclave market during the studied period.
However, Rising cost of large steam autoclaves, availability of other sterilization equipments such UV chamber, ion sterilization etc. will limit the growth of the Latin America steam autoclaves market during the forecast period mentioned above. Moreover, the upward trends in disposable and waste management may hamper the growth of Latin America steam autoclave market.
This research report on the Latin America Steam Autoclave Market has been segmented and sub-segmented into the following categories:
Health Care Organizations
Rest of Latin America
Mexico in the Latin America steam autoclave market is estimated to reach a CAGR of 4.6% during the period 2020-2027, owing to the increase in waste management guidelines. According to an article, an average mid-sized hospitals generate around 30 pounds of medical waste. Growing concern about nosocomial infections is expected to influence the demand for steam autoclaves.
The market for steam autoclaves in the Brazil is estimated at over US $ 316.5 million in 2020. Argentina is the second largest market share holder, is expected to reach a projected market size of US $ 228, 2 million for the year 2027 with a compound annual rate of 3.1% during the analysis period from 2020 to 2027. The regional market growth is heavily influenced by the government guidelines for sterilization and disinfection.
The market for steam autoclaves in Bolivia exceeded $ 102 million in 2020, driven by the need for sterilized items to prevent the spread of COVID- 19 infections. Peru and Chile are other notable geographic markets in Latin America, each forecasting growth of 2.1% and 3.1% respectively over the period 2020-2027. Ecuador is expected to grow by around 2.5% CAGR during the mentioned period.
The steam autoclaves market in Latin America is also expanding with the increase in the number medical and dental clinics, this is expected to generate new opportunities during the forecast period. Columbia is expected to have a healthy growth rate in the Latin America steam autoclave market, anticipated to exceed over USD 100 million by 2027. This market growth is expected due to the growing number of government rules and regulations in the country.
Companies playing a significant role in the Latin American Steam Autoclave Market profiled in this report are Steris, Belimed Deutschland, Priorclave, Getinge Infection Control, 3M Health Care, Panasonic Healthcare, LTE Scientific, Medisafe International, Belimed Group, and Melag.
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