PUBLISHER: Allied Market Research | PRODUCT CODE: 1472353
PUBLISHER: Allied Market Research | PRODUCT CODE: 1472353
The global surface disinfection market was valued at $2.7 billion in 2022, and is projected to reach $5.6 billion by 2032, growing at a CAGR of 7.4% from 2023 to 2032.
A surface disinfectant is a chemical solution designed to eliminate or reduce the presence of pathogens on surfaces. It contains active antimicrobial agents, such as alcohol or quaternary ammonium compounds, to effectively kill or inhibit the growth of bacteria, viruses, and fungi. This helps prevent the spread of infections and ensures a hygienic environment.
The growth of the surface disinfectant market is driven by the increased expenditure on healthcare, reflecting a commitment to ensuring safe and sterile environments within medical facilities. According to the Global Health Expenditure Database by the World Health Organization (WHO), the global health expenditure has been on a rise since 2014, with an increasing share of the world's GDP being distributed in public health care. In 2020, global spending on health reached $9 trillion, or 10.8% of global gross domestic product (GDP). Across countries, health spending in 2020 increased in per capita terms and as a share of GDP across all income groups. Hospitals and healthcare institutions allocate a sizable portion of their budgets to maintain stringent hygiene standards, aiming to prevent the transmission of infections among patients and healthcare professionals.
The elevated spending on healthcare translates into a higher demand for surface disinfectants in various forms, including wipes, sprays, and liquid solutions. These disinfectants play a crucial role in minimizing the risk of hospital-acquired infections (HAIs), a critical concern that adds to healthcare costs and negatively impacts patient outcomes. The significance of infection prevention and control is attributed to a number of factors, including financial considerations, regulatory requirements, and a commitment to offering patients high-quality care.
The surge in prevalence of chronic diseases and the rise in aging population contribute to the increase in healthcare expenditure. According to a report by the WHO, chronic diseases such as cardiovascular diseases, cancer, diabetes, and respiratory disease were causes or contributing factors in 75% of global deaths in 2010 and 79% in 2020. By 2030, experts predict that this percentage could grow to as much as 84%. Stringent disinfection procedures are required when the number of patients in healthcare facilities increases. Surface disinfectants are essential to broaden infection control methods owing to their ability to stop the spread of microbes. Thus, an increase in healthcare expenditures is expected to drive the growth of the surface disinfectant market during the forecast period.
The market growth is hindered by the handling of hazardous chemicals during the production of surface disinfectants. The use of potentially harmful chemicals raises concerns regarding worker safety, environmental impact, and regulatory compliance. Manufacturers need to adhere to stringent safety protocols to protect workers involved in the production process from potential exposure to hazardous substances. This requires additional investments in safety measures, training programs, and specialized equipment, contributing to increased production costs.
Moreover, the environmental impact of handling hazardous chemicals during the production of surface disinfectants is a significant concern. Inappropriate disposal practices or accidental releases lead to soil and water contamination, posing risks to ecosystems and human health. This environmental aspect has become increasingly important as consumers and regulatory bodies demand sustainable and eco-friendly practices across industries.
Regulatory compliance plays a pivotal role in restraining market growth. Strict regulations govern the production, transportation, and disposal of hazardous chemicals. Manufacturers must navigate through various regulatory environments to make sure their procedures comply with environmental and safety requirements. Non-compliance results in legal consequences, fines, and damage to a company's reputation. Thus, handling of hazardous chemicals during production of surface disinfectants hinders market growth.
The development of eco-friendly surface disinfectant products offers significant growth opportunity for the surface disinfectant market. Consumers, businesses, and regulatory bodies are prioritizing products that have minimal impact on the environment, fostering a demand for surface disinfectants that are both effective and sustainable. Eco-friendly disinfectants are formulated with biodegradable ingredients, which reduce their ecological footprint and address concerns associated with the use of traditional disinfectants containing harsh chemicals.
The increased awareness of environmental issues has led to a change in consumer behavior, with many individuals opting for products that contribute to a greener and healthier planet. This shift in consumer preferences has created a market niche for manufacturers to innovate and produce surface disinfectants that meet stringent environmental standards without compromising on efficacy. Companies invest in R&D to create formulations that utilize plant-based, non-toxic ingredients, ensuring that their products are not only safe for the environment but also for human health. Thus, development of sustainable surface disinfectant products presents a lucrative growth opportunity for the expansion of the market during the forecast period.
The surface disinfectant market is segmented on the basis of composition, type, application, and region. On the basis of composition, the market is segregated into alcohols, chlorine compounds, quaternary ammonium compounds, hydrogen peroxide, peracetic acid, and others. On the basis of type, the market is classified into liquids, wipes, and sprays. On the basis of the application, the market is divided into surface, instrument, and others. Region-wise, the market is studied across North America, Europe, Asia-Pacific, and LAMEA.
The major players operating in the global surface disinfectant market are 3M, BASF SE, Ecolab, LANXESS, Lonza, P&G, PAUL HARTMANN AG, PaxChem Ltd., Reckitt Benckiser Group plc., and Spartan Chemical Company, Inc. Other players include Amity International, Carenowmedical, CleanWell, LLC., Codi Group, Medline Industries, LP, Nuvik UK Ltd, Parker Laboratories, Inc., STERIS plc, The Clorox Company, and Whiteley.
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