Antiseptic and Disinfectant Market- Hydrogen Peroxide will Remain the Product of Choice During the Forecast period, Fact.MR Study
Despite the growing popularity of disposable medical products, antiseptic and disinfectant products hold high sales possibilities. Some reusable medical equipment, such as scissors and pliers, require frequent sterilization, which is driving the demand for disinfectants in the healthcare industry. Sales are also projected to gather strength in the hospitality industry to boost customer experience, and, in turn, increase their retention rate. On the development side, ease of receiving FDA approval widens the innovation bandwidth of manufacturers, which is leading to high product efficiency.
Based on a robust research approach, an exclusive study published by Fact.MR projects that, the antiseptic and disinfectant market will expand at a healthy CAGR of ~6% during the forecast period (2020-2026).
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Key Highlights of Antiseptic and Disinfectant Market Study
- Long-term product supply opportunities are on the horizon for players in the antiseptic and disinfectant market, as hospitals and surgical centers are allocating separate budgets to create an infection-free surgical environment.
- The reckless use of these products is found to have a negative impact on the skin, which could limit the usage of antiseptics and disinfectants, especially in facilities with average health consciousness.
- Hydrogen peroxide will remain the product of choice during the forecast period, on account of its availability in a variety of concentrations, ranging from 3% to 90%. This is adding new dimensions to extant application areas of these products in hospitals, pharmacies, and life science laboratories.
- The legislation of safety framework to ensure hygienic conditions in healthcare facilities will increase manufacturers’ focus on product quality. For instance, in January 2018, the FDA established safety guidelines for hand hygiene products used by healthcare professionals.
“Besides the healthcare industry and residential areas, the food industry is growing as a crucial end-use industry for the antiseptic and disinfectant market. In the future, as food-quality norms turn stringent, the use of these products will be of paramount importance for food producers”, foresees a senior market consultant at Fact.MR.
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Market Players Generate Significant Revenue from Healthcare Facilities
The strong market hold of established players such as 3M Company, Kimberly-Clark, Becton, Dickinson and Company, Cardinal Health, and STERIS PLC turn the antiseptic and disinfectant market oligopolistic in nature. Cardinal Health holds ~48% of the 80% share accounted by leading players. The company primarily relies on established as well as emerging healthcare facilities for revenue generation.
Another leading player, 3M Company, accounts for ~20% of the share held by these players in the antiseptic and disinfectant market, as it is scrambling towards developing countries such as China and India, which hold high sales potential. Besides expansion in overseas territories, the development of sophisticated products for advanced medical devices remains a winning strategy for this player to close sales in developed regions such as North America and Europe.
Expansion of application segments of antiseptic and disinfectant products in the food industry is projected to offer new revenue channels for players in the antiseptic and disinfectant market. On the backdrop of this influence, regional and local players are experimenting with different chemical compositions to develop effective solutions.
Find More Valuable Insights on Antiseptic and Disinfectant Market
Fact.MR, in its new offering, brings to the fore an unbiased analysis of the global antiseptic and disinfectant market, presenting historical demand data (2016-2019) and forecast statistics for the period of 2020-2026. The study divulges compelling insights on the antiseptic and disinfectant market on the basis of product (quaternary ammonium compounds, chlorine compounds, alcohols, aldehydes, phenolic compounds, hydrogen peroxide, iodine, silver, and others) and end user (healthcare providers, commercial users, and domestic users) across five major regions.
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