(PharmaNewsWire.Com, November 11, 2020 ) The study involved four major activities in estimating the current size of the surface disinfectants market. Exhaustive secondary research was done to collect information on the market and its different subsegments. The next step was to validate these findings, assumptions, and sizing with industry experts across the value chain through primary research.
According MarketsandMarkets Research - The Global Surface Disinfectant Market 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.
The Key Factors Who will Drives the Market Growth?
- Stringent regulations for the use of surface disinfectants - High prevalence of HAIs - Advancements in surface disinfectants - Growing awareness of environmental & personal hygiene due to COVID-19 - Growing healthcare industry in emerging economies
Growth 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.
On the basis of composition, is segmented into alcohols, chlorine compounds, quaternary ammonium compounds, hydrogen peroxide, peracetic acid, and other compositions. In 2019, the alcohols segment accounted for the largest market share. The high use of alcohols on hard surfaces in hospitals and laboratories is driving the growth of this segment. Other segments, such as hydrogen peroxide and peracetic acid are expected to have higher growth rates due to their growing acceptance in surface disinfectant formulations.
On the basis of type, the surface disinfectant market is 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.
By end user, is 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.
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.
Leading Key Players in the Worldwide Industry:
The major players operating in this 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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