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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Reusable surgical equipment such as scissors and pliers require sterilization before being used for surgical operation to avoid the risk of infection and other complications. This is the key factor driving the demand of disinfectants in medical sector.
Increasing government initiatives undertaken to limit the cases of hospital acquired infections along with surge in health conscious population especially in developed countries will create opportunities for market growth.
“Government initiatives undertaken to spread awareness regarding personal hygiene, especially in emerging economies are expected to accelerate the sales of disinfectants and antiseptics during the forecast period,” said a Fact MR analyst.
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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.
Get More Insights – https://www.biospace.com/article/demand-for-antiseptic-and-disinfectants-to-surpass-us-4-bn-in-2021-fact-mr-concludes-in-a-latest-study/
Competitive Landscape
Antiseptic and disinfectant market is highly consolidated due to presence of a large number of regional and international market players. However, the top ten market players account for more than 80% of the global antiseptic and disinfectants market share.
Leading market players are focusing on expanding their overseas ventures and develop modern products for modern medical devices to boost their sales in North America and European market. They are also emphasizing on new product development to exploit the high revenue opportunities offer by emerging economies in Asia.
For instance, Indian Tobacco Company (ITC) launched its new disinfectant spray and liquid cleaner under its Savlon brand, in August 2020. This multipurpose disinfectant cleaner claims to offer dual benefit of cleaning and disinfecting in a single product.
Regional market players are experimenting with different chemical compositions to develop new and effective solutions will boost the market growth.
Key players operating in the antiseptic and disinfectant market are
- Novartis AG
- 3M Company
- Johnson & Johnson
- STERIS PLC
- Getinge Group
- Cardinal Health
- Becton
- Dickinson and Company
- GlaxoSmithKline PLC
- Kimberly-Clark
Explore Fact. MR’s Coverage on the Healthcare Domain
Antiseptic Bathing Market – Antiseptic bathing products are gaining popularity as a way to cleanse the skin before surgery. Due to the existence of a significant number of local competitors in the APAC geography, the antiseptic bathing market remains divided. The antiseptic bathing market’s major firms are focusing their efforts on expanding their antiseptic bathing businesses in emerging areas.
Skin Antiseptic Market – Demand for skin antiseptics in the United States and Canada will be driven by an increase in the number of surgeries conducted, which will have a negative impact on market growth. The surgeon’s initial step before the procedures is a pre-operative skin examination. Injection by application segment is expected to increase steadily over the next few years. The global market for skin antiseptics has been dominated by chlorhexidine gluconate.
Surgical Equipment Market – The advancements in minimally invasive procedures seen in the previous few years are symptomatic of significant advancements in surgical technology. Surgeons have been able to harness their expertise to give increased precision in complex procedures thanks to research and development activities done in recent years. The global surgical equipment market is divided into three categories – portable instruments, surgical sutures and staples, and electrosurgical devices.
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