MEDICAL DRYING CABINETS MARKET ANALYSIS

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:

Increasing surgical operations requires usage of medical drying cabinets for sterilization of surgical instruments, and this is expected to drive the market growth over the forecast period. For instance, in January 2023, according to an article published by Wolters Kluwer Health, Inc., a provider of information solutions for professionals and students in medicine, nursing, allied health and pharmacy, incidences of major surgery per 100 person- was 8.8% in U.S.

Figure 1. Global Medical Drying Cabinets Market Share (%), By Product Type, 2023

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Global Medical Drying Cabinets Market- Drivers

Increased risk of healthcare acquired infections 

Health care-associated infections (HCAIs) are infections that occur while receiving health care in a hospital or other health care facility. This infection appear after 48 hours or more of hospital admission, or within 30 days of received health care. Increasing health care associated infections will lead to increased use of medical drying cabinets, and thus, this is expected to drive the growth of the global medical drying cabinets market in the forecast period. For instance, in April 2022, a report published by Michigan Publishing Services, a scientific journal, stated that International Nosocomial Infection Control Consortium reported that Health care-associated infections (HCAI) in India was approximately 9.06 infections per 1,000 intensive care unit (ICU) patients.

Increasing prevalence of gastro esophageal reflux disease

Medical drying cabinets are used for sterilization and storage of endoscopes, and thus, increasing prevalence of gastro esophageal reflux disease that requires usage of endoscopes is expected to drive the market growth over the forecast period. For instance, in July 2022, according to a report published by National Center for Biotechnology Information (NCBI), gastro esophageal reflux disease (GERD) is one of the most common gastrointestinal disorders with prevalence in 20% of adults in western culture like French, Spanish and British culture.

Figure 2. Global Medical Drying Cabinets Market Share (%), By Region, 2023

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Global Medical Drying Cabinets Market- Regional Analysis

Among region, North America is expected to dominate the market over the forecast period, due to increasing usage of endoscopes to diagnose diseases like Barrett's esophagus, and this is expected to drive the market growth over the forecast period. For instance, in October 2022, according to an article published by American Academy of Family Physicians, one of the largest national medical organizations, Barrett esophagus can affect up to 5.6% of the U.S. population.

Asia Pacific region is expected to be the second largest region in the market over the forecast period, owing to increasing prevalence of healthcare acquired infections (HAIs), and this is expected to drive the market growth over the forecast period. For instance, in September 2020, according to an article published by Science The Wire, an Indian news and opinion website, stated that for every 100 hospitalized patients, seven in high-income countries like U.S., Japan, and others, and 10 in middle-income countries like Thailand, India, and others, develops healthcare acquired infections (HAIs).

Global Medical Drying Cabinets Market– Impact of Coronavirus (COVID-19) Pandemic

Coronavirus disease 2019 (COVID-19) is a highly contagious infectious disease caused by severe acute respiratory syndrome coronavirus 2 (SARS-CoV-2). According to the World Health Organization (WHO) 40 million people were affected globally till October 10, 2022.

However, the COVID-19 pandemic had a negative impact on the global medical drying cabinets market due to decreasing number of surgical operations. For instance, in December 2021, according to a report published by National Center for Biotechnology Information (NCBI), from January 1, 2019, to January 30, 2021, there was 48% decrease in total surgical procedures after the March 2020 restriction to cancel elective surgical procedures due to COVID-19.

Global Medical Drying Cabinets Market- Segmentation:

The global medical drying cabinets market report is segmented into product type, application, material type, 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 the medical drying cabinets market during the forecast period, due to increasing product launches by key market players.

Based on Application, global medical drying cabinets market is segmented into surgical instruments, glassware, lab clothes, endoscopes, and others. Endoscopes segment is expected to dominate the market over the forecast period, due to increasing usage of medical drying cabinets for sterilization of endoscopy instruments.

Based on Material Type, global 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, global 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.

Based on Region, global medical drying cabinets market is segmented into North America, Latin America, Europe, Middle East, Asia Pacific, and Africa. Out of which, North America segment is expected to dominate the market over the forecast period, due to increasing inorganic growth strategies such as collaboration by key players in the region

Among all segmentation, product type segment has the highest potential due to increasing adoption of inorganic growth strategies such as agreements by key market players in order to expand their product portfolio. For instance, on 9 January 2023, Avantor, Inc., a leading global provider of mission-critical products and services to customers in the life sciences, advanced technologies and applied materials industries, announced that it has entered into a multi-year supply and services agreement with Catalent, Inc., leader in enabling the development and supply of better treatments for patients worldwide. Under this agreement, Avantor, Inc., will be the primary supplier of a broad range of laboratory supplies, clinical and production materials, and services to Catalent, Inc. expanding the companies' existing relationship.

Global Medical Drying Cabinets Market- Cross Sectional Analysis:

In product type segment, double door segment held a dominant position in North America 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 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.

In application segment, endoscopes segment is dominant in Europe region due to increasing prevalence of gastro esophageal reflux disease (GERD). For instance, in March 2022, a report published by AME Publishing Company, a globally active open access publisher specialized in the publication of medical journals, stated that gastro esophageal reflux disease (GERD) symptoms were found in the U.K., Finland, and Italy, and over 10% prevalence of gastro esophageal reflux disease (GERD) was reported in Europe.

Global Medical Drying Cabinets Market: Key Developments

On 16 June 2021, Steelco S.p.A., a manufacturer of medical devices, announced the launch of its new product Automated Endoscope Disinfectors with models EW 1 and EW 1 S that enhance assurance in endoscopes reprocessing.

On 4 April 2022, Ecolab, a global provider of water, hygiene, and infection prevention solutions for customers, announced that it has entered into an (New Zealand) ANZ exclusive distribution agreement with Smartline Medical, a manufacturer of innovative medical equipment and healthcare solutions, in order to manufacture increased offering of products to customers and to provide multiple solutions to suit facility needs

Increasing number of product launches by key market players and the increased company agreements by various key market players is expected to create new opportunities for the global medical drying cabinets market.

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 usage of medical drying cabinets. For instance, in July 2020, according to an article published by ScienceDirect, a scientific journal,  there are several drawbacks associated with medical drying cabinets including inconsistencies in the drying rates, prolonged drying time, and reduced drying efficiency.

Global Medical Drying Cabinets Market: Key Players

Major 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

Global Medical Drying Cabinets Market– Insights

Medical drying cabinet is a medical device of large capacity that is used to dry medical devices, surgical instruments, anesthetic hoses & equipment, and respiratory therapeutic equipment. This is a user-friendly equipment, and consists of a chip control system, an LCD screen for convenient programming of the instrument, and adjustment of various parameter needed for sterilization. It is also used in pharmaceutical facilities, scientific research institutions, and laboratories to dry glassware or stainless-steel items. These medical drying cabinets are highly economical with a short drying time and easy loading of instruments. Usage of cabinets helps in better infection control, in sterilization, and prevents contamination. Improper or inadequate drying of medical devices can cause damage and degradation of external and internal device surfaces.