(PharmaNewsWire.Com, May 18, 2020 ) The rising incidence of hospital-acquired infections (HAIs), growth in the pharmaceutical and biotechnology industries, and increasing outsourcing of bio decontamination services are factors driving the growth of the bio decontamination market. Emerging economies are expected to provide a wide range of growth opportunities for players in the market.
The bio decontamination market is projected to reach USD 175 million by 2024 from USD 130 million in 2019, at a CAGR of 6.1% from 2019 to 2024.
Global Bio Decontamination Market is Segmented on:
1. Product 2. Type 3. End User
Bio Decontamination Product:
The bio decontamination market, based on product & service, is segmented into equipment, consumables, and services. The equipment segment dominated this market in 2019. The launch of new and advanced instruments, portability, and the reduced need for manual intervention are driving the growth of this segment.
Type:
By type, the bio decontamination market is segmented into room and chamber bio decontamination. In 2018, chambers accounted for the largest share of the market. The large share of this segment can be attributed to factors such as lower power consumption, smaller footprint, and cost-effectiveness.
Bio Decontamination Market by End User:
The pharmaceutical & medical device manufacturing companies segment accounted for the largest market share and highest growth rate, owing to the growing adoption of bio decontamination products & services by pharmaceutical and medical device manufacturing industries to adhere to stringent regulations.
Geographical Growth Analysis of Bio Decontamination Industry:
The bio decontamination market in the Asia Pacific is expected to grow at a steady pace in the coming years. This is mainly due to the increasing number of hospitals and clinics, growing population, and government initiatives for improving healthcare infrastructure. The APAC is also the biggest exporter of pharmaceutical products in the world, which highlights the need to ensure the high quality of drugs for export and present opportunities for market players to enter into these markets.
Key Players:
The major players operating in this market are STERIS (US), Ecolab, Inc. (US), TOMI Environmental Solutions, Inc. (US), JCE Biotechnology (France), Fedegari Autoclavi SpA (Italy), Zhejiang Tailin Bioengineering Co., Ltd. (China).
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