Alcohol-based Antiseptics & Disinfectants to Expand Fastest, Registering 20% CAGR: Fact.MR Report
Published : 05 Aug 2021 Industry: Healthcare
Fact.MR’s recent report anticipates the global antiseptic and disinfectant market to reach US$ 160 Bn by 2031, expanding at a whopping 21% CAGR across the forthcoming decade. Increased uptake across commercial, healthcare and domestic sectors amid widespread infections outbreaks is expected to spur demand.
As per the report, the market is expected to close in at US$ 24 Bn by 2021. A CAGR of around 6% was registered in the 2016 to 2020 historical period. Growth prospects have been spurred with the outbreak of COVID-19. Growing healthcare needs during COVID-19, as well as higher standards of sterility across hospitals, all contributed a lot to the growth of the antiseptics and disinfectants industry.
The increasing demand for various sterilization products in the market is mainly spurred by antiseptics and disinfectants usage across hospitals and various other healthcare segments. The need to stop the spread of infections and growth of pathogens is increasing demand for sterilization products in the market.
Key Takeaways from the Market Study
- Alcohol-based antiseptics & disinfections demand to surge at a stellar 20% CAGR
- Quaternary ammonium compounds to hold high revenue share, exceeding 30%
- Antiseptic & disinfectant sales for domestic use likely to generate 3 out of 10 sales
- Healthcare uses to account for over 2/5th of the global revenue share of the market
- U.S making significant inroads, likely to flourish at a staggering 10% CAGR until 2031
- India & China to pivot bulk of the demand in Asia, yielding 70% of overall demand
- Japan and Canada to emerge as highly lucrative markets in the forthcoming decade
“Rising demand for antiseptics and disinfectants will incline in sustainable and chemical-free disinfectants. Emphasis on skin-friendly products is anticipated to spur market demand in the near future,” says a Fact.MR analyst.
Strategic collaborations enable manufacturers to increase production and meet consumer demand which will increase revenue and market share. New products and technologies will enable end-users to benefit from products that are more skin-friendly and to obtain 99.9% germ-free disinfectants.
- In November 2020, 3M released a new product against COVID-19. This product received US EPA approval for its TB Quat Disinfectant Ready-to-Use Cleaner for SARS-CoV-2 in hospitals, offices homes, hotels, schools, and commercial places. A third-party testing lab verified that the product was effective against viruses for a continuous 60 second period on hard, nonporous surfaces.
- MEDALKAN produced a range of disinfectants for medical devices specially designed for professional use in clinics, dental clinics, hospitals, and examination centers. The products have been developed for the cleaning and disinfection of surgical instruments, surfaces, suction systems, endoscopes, as well as other applications.
More Insights Available
Fact.MR's, in its new offering, presents an unbiased analysis of the antiseptic and disinfectant market, presenting historical demand data (2016-2020) and forecast statistics from 2021 to 2031.
The study divulges essential insights on the market based on product type (quaternary ammonium compound, chlorine compounds, alcohols, aldehydes, phenolic compounds, hydrogen peroxide, iodine, silver, others), end user (healthcare providers, commercial users, domestic users), across seven major regions of the world (North America, Latin America, Europe, East Asia, South Asia, Oceania, and the Middle East & Africa).
Fact.MR’s Domain Knowledge in Healthcare
Our healthcare consulting team guides organizations at each step of their business strategy by helping you understand how the latest influencers account for operational and strategic transformation in the healthcare sector. Our expertise in recognizing the challenges and trends impacting the global healthcare industry provides indispensable insights and support - encasing a strategic perspective that helps you identify critical issues and devise appropriate solutions.
For more information, refer to our market research report or contact the PR author.
Shambhu Nath Jha
Sr. Consultant - Healthcare