The growth of Surface Disinfectant Market is majorly driven by the increasing prevalence of hospital-acquired infections (HAIs) globally, presence of stringent regulations for the use of surface disinfectants (in hospitals, diagnostic laboratories, pharmaceutical & biotechnology companies, and research laboratories), and advancements in surface disinfectants.
According to the new market research report “Surface Disinfectants Market by Composition (Quaternary Ammonium, Alcohols, Chlorine, Hydrogen Peroxide), Type (Liquids, Sprays, Wipes), Application (Surface, Instrument), End User (Hospitals, Diagnostic and Research Labs) – Global Forecast to 2025” published by MarketsandMarkets™, is projected to reach USD 3.6 billion by 2025 from USD 3.1 billion in 2020, at a CAGR of 3.0% from 2020 to 2025.
Opportunity: Growing healthcare industry in emerging economies;
Emerging economies such as India, Brazil, China, and South Africa provide significant opportunities for players in the surface disinfectants market. According to the IMF, in 2016, these emerging economies accounted for more than 60% of the global GDP. The need for improved healthcare services in these economies is mainly driven by the rapidly increasing aging population and high patient volumes, growing per capita income, and rising awareness.
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Geographically; the global surface disinfectants market is segmented into five major regions, namely, North America, Europe, the Asia Pacific (APAC), Latin America, and the Middle East and Africa. The North American market is expected to account for the highest market share in 2020. The large share of this market segment can be attributed to rising incidence of nosocomial infections, rising geriatric population, and improvements in healthcare infrastructure.
The major players operating in surface disinfectants market are 3M Group (US), Cantel Medical Corporation (US), The Clorox Company (US), Ecolab Inc. (US), Procter & Gamble (US), Reckitt Benckiser Group plc. (UK), Diversey, Inc. (US), STERIS plc (US), CarrollCLEAN (US), Metrex Research, LLC. (US), Whiteley Corporation (Australia), GOJO Industries, Inc. (US), PAUL HARTMANN AG (Germany), Medline Industries, Inc. (US), Pharmax Limited (Canada), PDI Inc. (US), Betco (US), GESCO Healthcare Pvt. Ltd. (India), MEDALKAN (Greece), Ruhof (US), Contec Inc. (US), Cetylite, Inc. (US), Micro-Scientific, LLC (US), Pal International (UK), and BHC, Inc. (US).
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Market Segmentation in Detailed:
Liquids segment accounted for the largest share of the of the surface disinfectants market.
Based on type, Segmented into liquids, wipes, and sprays. The liquids segment accounted for the largest market share in 2019. This can primarily be attributed to the wide usage of these disinfectants, especially in emerging and underdeveloped countries, due to their low cost.
The hospital settings segment is expected to dominate the surface disinfectants market in 2020.
By end user, Segmented into hospital settings, diagnostic laboratories, pharmaceutical & biotechnology companies, and research laboratories. In 2019, hospital settings accounted for the largest share of the market. The large share of this segment can be attributed to factors, such as the high prevalence of infections in hospitals, the increase in hospital reimbursements for surgeries performed in hospitals, and growing patient volume in these healthcare settings.
They are also used in research laboratories and pharmaceutical and biotechnology companies where human cells are handled and maintained for the purpose of research and development.
What the Market Looks Like?
Predicted to grow at a CAGR of 8.4% during the forecast period, the Global Surface Disinfectant Market is estimated to reach $1,251.6 Million by 2024.
North America accounts for the largest market size during the forecast period.Based on composition, the market is segmented into alcohols, chlorine compounds, quaternary ammonium compounds, hydrogen peroxide, peracetic acid, and other compositions.
Other segments, such as hydrogen peroxide and peracetic acid are expected to have higher growth rates due to their growing acceptance in surface disinfectant formulationsBased on type, the market is segmented into liquids, wipes, and sprays.
This can primarily be attributed to the wide usage of these disinfectants, especially in emerging and underdeveloped countries, due to their low cost.By end user, the surface disinfectants market is segmented into hospital settings, diagnostic laboratories, pharmaceutical & biotechnology companies, and research laboratories.
You can’t ignore the requirements of disinfectants at the present time.
You have to be healthy and for it, this is the primary need.
Your home, office, or any commercial place needs sanitizing services regularly.
But you can’t choose any disinfectant.
You have to consider different things before choosing the same.
Want to know what those are, then continue reading this write-up.
