According MarketsandMarkets Research – The Global Surface Disinfectant Market is projected to reach USD 3.6 billion by 2025 from USD 3.1 billion in 2020, at a CAGR of 3.0% from 2020 to 2025.
COVID-19 Impact on Global Surface Disinfectants Market;
COVID-19 is an infectious disease caused by the most recently discovered novel coronavirus. The World Health Organization (WHO) declared COVID-19 as a pandemic on March 11, 2020. The pandemic has caused disruption in healthcare systems all over the world, with hospitals being overwhelmed due to the increasing influx of patients. Temporary hospitals are also being set up to deal with an increasing disease incidence. Hence, the spread of COVID-19 has spurred a surge in the demand for cleaning and disinfection products due to the growing awareness about hygiene, health, and safety. Increasing healthcare expenditure and an increase in the number of temporary hospitals are some of the major factors driving the demand and uptake of antiseptics and disinfectants.
Opportunity: Growing healthcare industry in emerging economies;
Emerging economies such as India, Brazil, China, and South Africa provide significant opportunities for players in the surface disinfectants market. According to the IMF, in 2016, these emerging economies accounted for more than 60% of the global GDP. The need for improved healthcare services in these economies is mainly driven by the rapidly increasing aging population and high patient volumes, growing per capita income, and rising awareness.
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Alcohols segment accounted for the largest share of the surface disinfectants market, by composition segment, 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 accounted 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 segment accounted for the largest share of the of the surface disinfectants market, by type segment, in 2019.
On the basis of type, the surface disinfectants market is segmented into liquids, wipes, and sprays. The liquids segment accounted 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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Based on region, the surface disinfectant market is segmented into North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa. In 2019, North America commanded the largest share of the surface disinfectants market. The large share of this market segment can be attributed majorly to the high prevalence of HAIs and the presence of stringent infection control regulations in the region.
The major players operating in this market are 3M Group (US), Cantel Medical Corporation (US), The Clorox Company (US), Ecolab Inc. (US), Procter & Gamble (US), Reckitt Benckiser Group plc. (UK), Diversey, Inc. (US), STERIS plc (US), CarrollCLEAN (US), Metrex Research, LLC. (US), Whiteley Corporation (Australia), GOJO Industries, Inc. (US), PAUL HARTMANN AG (Germany), Medline Industries, Inc. (US), Pharmax Limited (Canada), PDI Inc. (US), Betco (US), GESCO Healthcare Pvt. Ltd. (India), MEDALKAN (Greece), Ruhof (US), Contec Inc. (US), Cetylite, Inc. (US), Micro-Scientific, LLC (US), Pal International (UK), and BHC, Inc. (US).