Apr 10, 2020
Clinical Grade Disinfectant Demand Surges, as Production Ramps up amid Covid-19, Concludes Fact.MR
by Team Fact.MR
With disinfection processes proliferating in hospitals and clinics due to Covid-19, there has been a bullish trend in the global demand for clinical grade disinfectant. Manufacturers of clinical grade disinfectant have increased production due to the upsurge in purchase statistics of clinical grade disinfectant. This is also being done to regulate supply chains associated with medical facilities. At-hospitals, utilization of clinical grade disinfectants has witnessed a significant spurt. Moreover, an uptick in research & developments related activities at R & D centers has led to an uptick in demand of clinical grade disinfectants. Under likely scenario, global clinical grade disinfectant market is projected to grow 1.2X between 2019 and 2020.
Spending on Medical Facilities Disinfection to Soar, Demand Accelerates for Clinical Grade Disinfectant
Global clinical grade disinfectant market is projected to be valued at around US$ 2 Bn by 2030, with a CAGR of around 10% during the forecast period. Global campaigns to increase the number of hospitals and clinical facilities to treat infectious and contagious disease such as COVID-19 is creating notable demand for clinical grade disinfectant. Moreover, growth in number of research and development centers in the past half-decade has led to high demand for clinical grade disinfectants especially in developed regions.
Key Takeaways from Clinical Grade Disinfectant Market Study
- South Asia is anticipated to give impetus to the clinical grade disinfectant market with the highest growth rate of around 13% during the forecast period.
- Alcohols & Aldehydes account for maximum shares (~30%) within the formulation segment due to the easy availability of alcohols & aldehydes and their low cost of manufacturing
- With the recent Covid-19 pandemic, global export of clinical grade disinfectant has witnessed an upsurge which is projected to increase the sales of the quaternary ammonium compounds
- Direct sales takes the lead among sales channel of clinical grade disinfectants, accounting for more than half of the market share.
Expansion of Production Facilities with Product Development will Remain Key Forte
With the significant uptick in sales of disinfectant, a rift between supply and demand of clinical grade disinfectants has been created. Companies such as Dow have been dipping into their inventories to fulfill the increasing demand. This increased demand is also expected to increase production of clinical grade disinfectant during the forecast period. For instance, In March, 2020 Dow chemicals has shifted its five plants to produce isopropyl alcohol with capacity of more than 200 Tons per week.
Find More Valuable Insights on the Market
Fact.MR, in its new offering, provides an unbiased analysis of the global market for clinical grade disinfectant, with historical data on demand (2015-2019) and expected projections for the period (2020-2030). The report discloses compelling insights into the demand for clinical grade disinfectant based of formulation (quaternary ammonium compounds, chlorine compounds, alcohols & aldehydes, phenolic compounds and other product types), end users (hospitals, clinics, pathology labs, research institutes, other end users), sales channel (direct sales, online sales channel, specialty stores and other channels) across several major regions.
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About the Chemical and Material Division at Fact.MR
Expert analysis, actionable insights, and strategic recommendations – the Chemicals & Materials team at Fact.MR assists clients with unique business intelligence needs on a global level. With a repertoire of over 1,000 reports and 1 million+ data points, the team has analyzed the Chemicals & Materials industry lucidly in 50+ countries for over a decade. The chemicals & materials team at Fact.MR assists clients in their business expansion as well as new ventures, through hawk-eyed analysis and strategic recommendation