Burlingame, July 25, 2023 (GLOBE NEWSWIRE) -- Coherent Market Insights published a report, titled, “Medical Drying Cabinets Market, By Product Type (Single door, Double door, Glass door, and Vacuumed), By Application (Surgical Instruments, Glassware, Lab Clothes, Endoscopes, and Others), By Material Type (Stainless Steel and Seawater Resistant Steel), By End User (Hospitals, Pharmaceutical Industries, and National Laboratories) - Size, Share, Outlook, and Opportunity Analysis, 2023 – 2030” According to the report, global medical drying cabinets market is estimated to be valued at US$ 324.5 million in 2023 and is expected to exhibit a CAGR of 8.9% during the forecast period (2023-2030).
Analysts’ Views on Global Medical Drying Cabinets Market:
Rising demand for medical drying cabinets for sterilization of endoscopes due to increased endoscopy operations is expected to drive the market growth over the forecast period. For instance, in August 2022, according to a report published by BMJ Publishing Group Ltd, a scientific journal, a total of 1,533,737 endoscopic procedures were performed in 2020, in U.S.
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Key Trends and Analysis of the Global Medical Drying Cabinets Market:
Increasing inorganic growth strategies such as acquisition by key market players in order to expand their product portfolio is expected to drive the market growth over the forecast period. For instance, in August 2022, SDI Group, a company that designs and manufactures scientific and technology products, announced the acquisition of LTE Scientific Ltd, a leading manufacturer and supplier of laboratory and medical equipment, to further expand the product portfolio of SDI Group.
Global Medical Drying Cabinets Market- Drivers
Increased risk of healthcare acquired infections
Healthcare acquired infections, also known as nosocomial infections are infections that patients get while receiving treatment for medical or surgical conditions. These are increasing day-by-day, and this is expected to drive market growth over the forecast period. For instance, in December 2022, according to an article published by Centers for Disease Control and Prevention (CDC), each day approximately one in 31 U.S. patients and 1 in 43 nursing home residents, contracts at least one infection associated with their healthcare, indicating the need for improvements in patient care practices in U.S. healthcare facilities.
Increasing adoption of organic strategies such as product launches
Increasing adoption of organic strategies such as product launches by key market players in order to expand their product portfolio is expected to drive market growth over the forecast period. For instance, in February 2021, Mobile Aspects, a global healthcare software company, announced the launch of RFID Drying Cabinets with Ultraviolet-C (UVC) light to aid in decontamination with the help of Ultraviolet-C light.
Medical Drying Cabinets Market Report Coverage
| Report Coverage | Details | |||
| Base Year: | 2022 | Market Size in 2023: | US$ 324.5 Mn | |
| Historical Data for: | 2017 to 2021 | Forecast Period: | 2023 to 2030 | |
| Forecast Period 2023 to 2030 CAGR: | 8.9 | % | 2030 Value Projection: | US$ 589.4 Mn |
| Geographies covered: |
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| Segments covered: |
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| Companies covered: | SHINVA MEDICAL INSTRUMENT CO., LTD., Steelco S.p.A., STERIS, Rhima, Steridium, A. E. ATHERTON & SONS. ABN, LEEC Limited, KWC Nordics Oy, Suzhou NaMeiRui, Staber Industries, Inc., PINK GmbH, SDI Group, BINDER GmbH, Hettich Benelux, Labtron Equipment Ltd, Smartline Medical, Scientific Laboratory Supplies Ltd, Totech Canada Inc., Memmert GmbH + Co.KG, Getinge AB, Harloff, Olympus Corporation, ECOLAB | |||
| Growth Drivers: |
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| Restraints & Challenges: |
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Global Medical Drying Cabinets Market- Restraint
Disadvantages of medical drying cabinets
The major factor that can hamper the growth of the global medical drying cabinets market over the forecast period include disadvantages associated with the usage of medical drying cabinets. For instance, in October 2022, according to an article published by Microbe online, an online guidebook on medical microbiology, the major disadvantage of using medical drying cabinets is that it is a time-consuming method due to slow rate of heat penetration and microbial killing.
Global Medical Drying Cabinets Market- Opportunity
Increasing product launches by key market players
Increasing product launches by key market players is expected to drive the global medical drying cabinets market growth in the forecast period. For instance, in June 2021, Olympus Corporation, a leading supplier of optical and digital microscope systems for life science solutions, announced the launch of its new product ScopeLocker with HEPA hinged door for endoscope storage.
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Global Medical Drying Cabinets Market- Cross Sectional Analysis:
In application, endoscope segment is dominant during forecast period in North America region due to increasing product launches by key market players in order to expand their product portfolio is expected to drive segment growth over the forecast period. For instance, in October 2021, Solaire Medical InnerSpace, a company specialized in the manufacturing and sales of healthcare storage solutions, announced the launch of its new product Ventaire Scope Drying and Tracking Cabinet that provides real-time tracking capabilities, online endoscope monitoring, and an automated system that provides high-efficiency particulate air (HEPA)-filtered pressurized air into endoscope channels to keep scopes dry and to avoid reprocessing.
Global Medical Drying Cabinets Market- Segmentation:
The global medical drying cabinets market report is segmented into Product Type, Application, Material, End User and Region
Based on Product Type, the market is segmented into single door, double door, glass door, and vacuumed. Out of which, double door segment is expected to dominate in the medical drying cabinets market during the forecast period, due to increasing product launches by key market players.
Based on Application, the medical drying cabinets market is segmented into surgical instruments, glassware, lab clothes, endoscopes, and others. Endoscopes segment is expected to dominate in the market over the forecast period, due to increasing usage of endoscopes to diagnosis diseases.
Based on Material Type, the medical drying cabinets market is segmented into stainless steel and seawater resistant steel. Out of which, stainless steel segment is expected to dominate in the market over the forecast period, due to increasing product launches by key market players.
Based on End User, the medical drying cabinets market is segmented into hospitals, pharmaceutical industries, and national laboratories. Out of which, Hospitals segment is expected to dominant in the market over the forecast period, due to increasing usage of medical drying cabinets for sanitizing of medical instruments.
Among all segmentation, Product Type segment has the highest potential due to increasing adoption of organic growth strategies such as product launches by key players in the market in order to expand their product portfolio. For instance, in May 2020, CS Medical LLC, a leader in developing, manufacturing, and marketing medical devices, announced the launch of CleanShield TEE probe Storage Cabinet to effectively and securely store disinfected TEE probes.
Global Medical Drying Cabinets Market: Key Developments
In October 2020, Medline Scientific Limited, a distributor of laboratory products, announced the launch of its new product Genlab E3 Insulated, Natural Convection Drying & Warming Cabinet that is a glassware drying cabinet.
In September 2021, Terra Universal. Inc, a manufacturer of comprehensive lines of critical environment solutions including modular cleanrooms, glove boxes, laminar flow benches, and furniture, announced the launch of its new product ultraviolet-c (UVC) cabinets with HEPA filtration with increased storage capacity and improved contamination control for large items and bulk garments.
The increasing product launch by key market players is expected to create new opportunities in the global medical drying cabinets market.
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Key Market Takeaways:
Global medical drying cabinets market is expected to exhibit a CAGR of 8.9% during the forecast period due to increasing adoption of organic growth strategies such as product launches by key players in the market in order to increase their product portfolio and presence in the market. For instance, in December 2022, PENTAX Medical, a company that provides endo-imaging solutions, announced the launch of its new product PlasmaTYPHOONdry that is a new fast endoscope drying solution.
Among application, endoscopy segment is dominant due to increasing usage of endoscopes for the diagnosis of peptic ulcer disease. For instance, in August 2022, according to a report published by National Center for Biotechnology Information (NCBI), Peptic ulcer disease (PUD) affects four million people worldwide annually and has an estimated lifetime prevalence of 5−10% in the population.
On the basis of end user, Hospitals segment is expected to hold a dominant position over the forecast period, owing to increasing incidence of surgical operations that requires usage of drying cabinets in order to sterilize the surgical instruments. For instance, in August 2022, a report published by Eurostat, a statistical data providing company, stated that in 2020, 1,461.0 surgeries were performed per 1, 00,000 individuals in Latvia, Europe.
Competitive Landscape:
Key players operating in the global medical drying cabinets market include SHINVA MEDICAL INSTRUMENT CO., LTD., Steelco S.p.A., STERIS, Rhima, Steridium, A. E. ATHERTON & SONS. ABN, LEEC Limited, KWC Nordics Oy, Suzhou NaMeiRui, Staber Industries, Inc., PINK GmbH, SDI Group, BINDER GmbH, Hettich Benelux, Labtron Equipment Ltd, Smartline Medical, Scientific Laboratory Supplies Ltd, Totech Canada Inc., Memmert GmbH + Co.KG, Getinge AB, Harloff, Olympus Corporation, and ECOLAB
Market Segmentation:
- Global Medical Drying Cabinets Market, By Product Type:
- Single Door
- Double Door
- Glass Door
- Vacuumed
- Global Medical Drying Cabinets Market, By Application:
- Surgical Instruments
- Glassware
- Lab Clothes
- Endoscopes
- Others
- Global Medical Drying Cabinets Market, By Material Type:
- Stainless Steel
- Seawater Resistant Steel
- Global Medical Drying Cabinets Market, By End User:
- Hospitals
- Pharmaceutical Industries
- National Laboratories
- Global Medical Drying Cabinets Market, By Region:
- North America
- U.S.
- Canada
- Latin America
- Brazil
- Mexico
- Argentina
- Rest of Latin America
- Europe
- Germany
- U.K.
- France
- Italy
- Spain
- Russia
- Rest of Europe
- Asia Pacific
- China
- India
- Japan
- Australia
- South Korea
- ASEAN
- Rest of Asia Pacific
- Middle East
- GCC
- Israel
- Rest of Middle East
- Africa
- South Africa
- Central Africa
- North Africa
- North America
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