Growing Adoption of Bio decontamination Products and Services by Pharmaceutical and Biotechnology Industries
According to the new market research report "Bio Decontamination Market by Product (Equipment, Service, Consumables), Agent (Hydrogen Peroxide, Chlorine, Nitrogen, Peracetic Acid), Type (Room, Chamber), End User (Pharma, Biotech, Medical Devices, Hospital, Life Science) - Global Forecast to 2024", published by MarketsandMarkets™, the Bio Decontamination Equipment Market is projected to reach USD 175 million by 2024 from USD 130 million in 2019, at a CAGR of 6.1%.
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The rising incidence of hospital-acquired infections (HAIs), growth in the pharmaceutical and biotechnology industries, and increasing outsourcing of bio decontamination services are factors driving the growth of the Bio Decontamination Industry.
The equipment segment commanded the largest share of the Bio Decontamination Market in 2019.
On the basis of product & service, the Bio Decontamination Equipment Industry is segmented into equipment, consumables, and services. In 2018, the equipment segment accounted for the largest market share of Decontamination Equipment Market. The launch of new and advanced instruments, portability, and the reduced need for manual intervention are key factors driving the growth of this segment.
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Chamber decontamination held the largest share of the Bio Decontamination Market in 2019.
By type, the Bio Decontamination Equipment Market is segmented into room and chamber bio decontamination. In 2018, chambers accounted for the largest share of the market. The large share of this segment can be attributed to factors such as lower power consumption, smaller footprint, and cost-effectiveness.
Hydrogen Peroxide to dominate the Bio Decontamination Market in 2019.
On the basis of agent type, the Bio Decontamination Equipment Market is segmented into hydrogen peroxide, nitrogen dioxide, chlorine dioxide, and peracetic acid. In 2018, the hydrogen peroxide segment accounted for the largest share of the Bio Decontamination Industry. The advantages offered by hydrogen peroxide, such as material compatibility and safety with minimum residue, are the major factors contributing to its dominance in the Bio Decontamination Sector.
North America commanded the largest share of the Bio Decontamination Market in 2019.
On the basis of region, the Bio Decontamination Equipment Market is segmented into North America, Europe, Asia Pacific, and the Rest of the World. In 2018, North America commanded the largest share of the Bio Decontamination Industry. The large share of this regional segment can be attributed to the growing demand for bio decontamination technologies from the healthcare industry to minimize the occurrence of hospital-acquired infections and the presence of major players in the region.
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The major players operating in this market are STERIS (US), Ecolab, Inc. (US), TOMI Environmental Solutions, Inc (US), JCE Biotechnology (France), Fedegari Autoclavi SpA (Italy), Zhejiang Tailin Bioengineering Co., Ltd. (China), Noxilizer, Inc. (US), Howorth Air Technology Limited (UK), Wenzhou Weike Biological Laboratory Equipment Co., Ltd. (China), ClorDiSys Solutions Inc. (US), and Amira S.r.l. (Italy).
STERIS is the leading player in the bio decontamination equipment market. The company offers a broad portfolio of bio decontamination equipment. The leading position of the company can be attributed to its strong brand recognition and wide geographical presence. Furthermore, STERIS is one of the few providers of bio decontamination services, further expanding its offerings in this market.