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)
[110 Pages Report] The bio decontamination market is projected to reach USD 175 million by 2024 from USD 130 million in 2019, at a CAGR of 6.1% from 2019 to 2024.
Market Dynamics: Growth Drivers
1. Rising Incidence of Hospital-Acquired Infections
2. Increasing Number of Surgical Procedures
3. Increasing Outsourcing of Bio decontamination Services
4. Growth in the Pharmaceutical and Biotechnology Industries
5. Emerging Markets
Objective of Study:
1. To define, describe, and segment the global market by product & service, technology, application, end user and region.
2. To provide detailed information about factors influencing market growth (drivers, restraints, and opportunities).
3. To analyze micromarkets with respect to individual growth trends, prospects, and contributions to the global industry
4. To analyze market opportunities for stakeholders and provide details of the competitive landscape for key players.
5. To forecast the size of the market segments with respect to four major regional segments, namely, North America, Europe, Asia Pacific (APAC), and the Rest of the World (RoW).
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In-Depth Market Segmentation and Analysis:
The bio decontamination market, based on product & service, is segmented into equipment, consumables, and services. The equipment segment dominated this market in 2019. The launch of new and advanced instruments, portability, and the reduced need for manual intervention are driving the growth of this segment.
On the basis of end user, the bio decontamination market is segmented into pharmaceutical & medical device manufacturing companies, hospitals & healthcare facilities, and life sciences & biotechnology research organizations. In 2018, the pharmaceutical & medical device manufacturing companies segment accounted for the largest market share and highest growth rate, owing to the growing adoption of bio decontamination products & services by pharmaceutical and medical device manufacturing industries to adhere to stringent regulations.
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Geographical Growth Analysis:
Detailed analysis of market in European countries such as the UK, Germany, France, Italy, Spain, and others.
Detailed analysis of industry in Asia Pacific countries such as China, Japan, India, and others.
The bio decontamination market in the Asia Pacific is expected to grow at a steady pace in the coming years. This is mainly due to the increasing number of hospitals and clinics, growing population, and government initiatives for improving healthcare infrastructure. The APAC is also the biggest exporter of pharmaceutical products in the world, which highlights the need to ensure the high quality of drugs for export and present opportunities for market players to enter into these markets.
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 (US) is the leading player in the bio decontamination 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. The company also focuses on research and development activities to maintain its leading position in the bio decontamination market.