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(CityRegions.Com, May 29, 2020 ) The Global Surface Disinfectant Market is expected to reach USD 1,251.6 Million by 2024 from USD 836.7 Million in 2019, at a CAGR of 8.4% during forecast period.
The study involved four major activities in estimating the current size of the surface disinfectants market. Exhaustive secondary research was done to collect information on the market and its different subsegments. The next step was to validate these findings, assumptions, and sizing with industry experts across the value chain through primary research.
In the secondary research process, various secondary sources such as annual reports, press releases & investor presentations of companies, white papers, certified publications, articles by recognized authors, gold-standard & silver-standard websites, regulatory bodies, and databases (such as D&B Hoovers, Bloomberg Business, and Factiva) were referred to in order to identify and collect information for this study.
Several stakeholders such as surface disinfectant manufacturers, vendors, distributors and scientists, researchers, laboratory technicians, and doctors from hospitals and clinics were consulted for this report. The demand side of this market is characterized by significant use of surface disinfectants in hospitals, laboratories, and pharmaceutical companies, among others. Increasing hospital expenditure and hospitalizations due to increasing lifestyle diseases, such as CVDs, diabetes.
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Market Segmentation in Depth:
Alcohols are expected to dominate the surface disinfectants devices market in 2019.
On the basis of composition, the surface disinfectants market is segmented into alcohols, chlorine compounds, quaternary ammonium compounds, hydrogen peroxide, peracetic acid, and other compositions. In 2019, the alcohols segment is expected to account for the largest market share. The high use of alcohols on hard surfaces in hospitals and laboratories is driving the growth of this segment. Other segments, such as hydrogen peroxide and peracetic acid are expected to have higher growth rates due to their growing acceptance in surface disinfectant formulations.
Liquids are expected to dominate the surface disinfectants devices market in 2019.
On the basis of type, the surface disinfectants market is segmented into liquids, wipes, and sprays. The liquids segment is expected to account for the largest market share in 2019. This can primarily be attributed to the wide usage of these disinfectants, especially in emerging and underdeveloped countries, due to their low cost.
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North America is expected to account for the largest share of this market. The demand for surface disinfectants in North America is primarily driven by the high prevalence of HAIs, rising patient population (as a result of the growth in the geriatric population and rising prevalence of chronic diseases), implementation of favorable government initiatives and stringent regulations on sterilization and disinfection, presence of an advanced healthcare infrastructure in the US and Canada, and the acceptance of newer compositions of surface disinfectants (based on hydrogen peroxide and peracetic acid).
Key Market Players:
3M Company, Procter and Gamble, Reckitt Benckiser Group plc, Clorox Company, Ecolab, Cantel Medical, Johnson & Johnson, Diversey, Inc., Steris Corporation, CarroLLClean, Metrex Research, LLC (Subsidiary of Danaher Corporation), Whiteley Corporation, Gojo Industries, Inc.
Mr. Aashish Mehra