PUBLISHER: MarketsandMarkets | PRODUCT CODE: 1384219
PUBLISHER: MarketsandMarkets | PRODUCT CODE: 1384219
Scope of the Report | |
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Years Considered for the Study | 2021-2028 |
Base Year | 2022 |
Forecast Period | 2023-2028 |
Units Considered | Value (USD) Billion |
Segments | Composition, type, application, end user, and region |
Regions covered | North America, Europe, Asia Pacific, Latin America, and Middle East & Africa |
The surface disinfectants market is projected to reach USD 4.2 billion by 2028 from USD 2.6 biillion in 2023, at a CAGR of 9.4%. Growing awareness of sanitization and cleanliness due to the prevalence of COVID-19 and the increasing demand for infection control strategies to reduce the incidence of hospital-acquired diseases are two factors driving the growth of the market. The development of alternative technologies and the growing number of negative effects of chemical disinfectants, on the other hand, are the main obstacles impeding the expansion of this industry.
"The alcohol segment held the biggest share in the surface disinfectant market, by composition, along the forecast period"
The surface disinfectant market is segregated into alcohols, chlorine compounds, quaternary ammonium compounds, hydrogen peroxide, peracetic acid, and other compositions based on composition. In 2022, the alcohol segment was holding the top share in the surface disinfectant market. The rapid evaporation and effective killing of germs by alcohol-based disinfectants, coupled with the surge in demand for hospital-grade and household disinfectants as a result of viral illnesses, are anticipated to propel the expansion of this market segment.
"The liquid segment accounted for the highest growth rate in the surface disinfectant market, by type, during the forecast period"
There are three categories in the surface disinfection market: liquid, wipes, and sprays.In the surface disinfectant market in 2022, the liquid category had the fastest growth rate. The broad usage of liquid disinfectants for hospital-acquired infection prevention and their accompanying low cost when compared to sprays and wipes are the primary factors driving their substantial market dominance.
"Instrument Disinfection segment accounted for the highest CAGR."
Based on application, surface disinfectant market has been segmented into surface disinfection, instrument disinfection and other applications. The instrument disinfection market has the greatest compound annual growth rate (CAGR) in 2022. This can be linked to the proliferation of COVID-19 and the increasing number of strict laws governing the use of surface disinfectants, which have raised awareness of cleanliness and sanitization.
"Hospital settings segment accounted for the highest share"
Based on end-user, the surface disinfectant market has been segmented into hospital settings, diagnostic laboratories, pharmaceutical & biotechnology companies, and research laboratories. In 2022, the largest share belonged to the hospital settings segment. This is explained by the growing need for infection control measures to reduce the incidence of hospital-acquired infections as well as the growing use of more recent surface disinfectants for sanitization.
"Asia Pacific: The fastest-growing region surface disinfectant market."
The global surface disinfectant market is divided into North America, Europe, the Asia Pacific, Latin America, and the Middle East & Africa. Over the course of the forecast period, the Asia Pacific region is expected to record the highest CAGR. The increasing geriatric population in several APAC countries (combined with the rising prevalence of chronic disorders), the expansion of private hospitals into rural areas, the presence of high-growth markets in the region, and rising per capita income are all factors driving up healthcare spending. It is also expected that this region's favourable labour laws and affordable labour will spur market expansion.
Prominent companies include 3M (US), Procter & Gamble (US), Reckitt Benckiser Group Plc (UK), Ecolab (US), STERIS (US), The Clorox Company (US), SC Johnson Professional (US), CarrollCLEAN (US), PAUL HARTMANN AG (Germany), Sanosil AG (Switzerland), Metrex Research, LLC (US), Whiteley Corporration (Australia), GOJO Industries, Inc. (US), Acuro Organics Limited (India), Pharmax Pharmaceuticals FZ-LLC (Canada), PDI, Inc. (US), Becto, Inc. (US), GESCO Healthcare Pvt. Ltd. (India), MEDALKAN (Greece), Ruhof (US), Cetylite, Inc. (US), Micro-Scientific, LLC (US), Pal International (UK), Brulin Holding Company, Inc. (US), and CareNow Medical Private Limited (India).
Research Coverage
This research report categorizes the Surface disinfectant market by products & service, technology, end user, and region. The scope of the report covers detailed information regarding the major factors, such as drivers, restraints, challenges, and opportunities, influencing the growth of the Surface disinfectant market. A detailed analysis of the key industry players has been done to provide insights into their business overview, solutions, and services; key strategies; Contracts, partnerships, agreements, new product & service launches, mergers and acquisitions, and recent developments associated with the Surface disinfectant market. Competitive analysis of upcoming startups in the Surface disinfectant market ecosystem is covered in this report.
Reasons to buy this report
The report will help the market leaders/new entrants in this market with information on the closest approximations of the revenue numbers for the overall surface disinfectant market and the subsegments. This report will help stakeholders understand the competitive landscape and gain more insights to position their businesses better and to plan suitable go-to-market strategies. The report also helps stakeholders understand the pulse of the market and provides them with information on key market drivers, restraints, challenges, and opportunities.