New York, April 21, 2020 (GLOBE NEWSWIRE) -- The global Disinfectant Products market is forecasted to reach USD 30.11 Billion by 2027, according to a new report by Reports and Data. The market for disinfectant products is growing due to the increase in the number of hospital-acquired infections, and also growth in contagious virus-related diseases. The advancement in technology and awareness among the public has led to an increase in the number of surgical operations, which in turn is driving the demand for the market.
Strict legislative guidelines, such as the Affordable Care Act, have forced hospitals administrative to maintain clean facilities. The recent outbreak of COVID-19 has led organizations to understand the necessity for healthcare facility cleanliness and disinfection. The global spending on healthcare is rising steadily. It was USD 7.8 trillion in 2017 or about 10% of GDP and USD 1,080 per capita. Development of alternatives of disinfectant are also challenging the market growth. Innovative technologies are being developed as a substitute to manual cleaning.
North America held the largest market share throughout the forecast period. The region is expected to show several growth opportunities owing to the rising awareness among consumers. The presence of a large number of hospitals, educational institutes, corporate buildings, and the increasing awareness regarding self-hygiene among people in the region will significantly influence disinfectant products market growth.
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The COVID-19 impact: Coronavirus is having a major impact in the disinfectant industry. The increasing demand for sanitizers and disinfectants as a preventive measure against COVID-19 has resulted in changing the dynamic of the market. The products are flying off the racks as they are being stockpiled, and manufacturers have started production in large quantities to meet the requirements of the consumers. The demand has surged exponentially, and the market will face a steady demand even when the impact of COVID-19 has reduced.
Further key findings from the report suggest
- Ready-to-use disinfecting wipes, also known as pre-impregnated disinfecting wipe, are commonly used in domestic situations and the food industry. Their usage in healthcare centers and hospitals for decontamination of medical devices and surfaces is increasing because of their suitable implementation in practice and reliable performance.
- Alcohols & Aldehyde Products held a market share of 20.7% in the year 2019. Aldehyde is increasingly used as they are toxic but of not damage rubber or plastic, making them useful for sterilizing devices such as catheters.
- Surface disinfectants are used to prevent microbial transmission of microbial infections in hospitals, pathology labs, and other patient-related areas. These disinfectants are also used in pharmaceutical and research laboratories and biotechnology companies where human cells are handled for the purpose of research and development.
- Hospitals held the largest market share during the forecast period. The chance of acquiring a hospital-related disease is high and faculties have to maintain a clean hygienic environment for patient to recover. Moreover, the annual budgets on healthcare has increased globally and hospitals can devote proper budget for maintain a germs-free environment.
- Asia Pacific is forecasted to grow with a higher CAGR of 8.3% during the forecast period. The region is heavily populated and home to some contagious diseases. The high poverty level and existence of slums in poor and developing nations increases the chance of infection and the need to have a hygienic surrounding is crucial in the region.
- In India, there is one government allopathic doctor for every 10,189 people, one government hospital bed for every 2,046 people and one state-run hospital for every 90,343 people. Patients often share beds and run the risk of being infected or spread the infection. The need for properly disinfecting the hospitals and related areas are crucial. The government have made sanitation its priority and strict steps are being taken to implement them.
- Key participants include Reckitt Benckiser Group plc, 3M, Kimberly-Clark Corporation, Cardinal Health, Bio-Cide International, Inc., Novartis AG, Johnson and Johnson, BD, STERIS Plc, and Procter and Gamble, among others.
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For the purpose of this report, Reports and Data have segmented into the global Disinfectant Products market on the basis of type, product type, end-users, and region:
Type Outlook (Revenue, USD Billion; 2017-2027)
- Chlorine Compounds
- Enzymes
- Quaternary Ammonium Compounds
- Alcohols & Aldehyde Products
- Others
Product Type Outlook (Revenue, USD Billion; 2017-2027)
- Medical Device Disinfectants
- Enzymatic Cleaners
- Surface Disinfectants
End Users Outlook (Revenue, USD Billion; 2017-2027)
- Hospitals
- Clinics
- Others
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Regional Outlook (Revenue, USD Billion; 2017-2027)
- North America
- U.S
- Europe
- U.K
- France
- Asia Pacific
- China
- India
- Japan
- MEA
- Latin America
- Brazil
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