The global Antimicrobial Additives Market size is expected to reach USD 4.7 billion by 2028, according to a new report by Grand View Research, Inc. The market is projected to expand at a CAGR of 8.5% from 2021 to 2028. The demand is ascending at a prominent rate owing to increasing product consumption in medical devices & equipment and other end-use industries, such as packaging, food & beverage, healthcare, personal care, and electronic goods. They are majorly utilized to enhance the physical as well as chemical properties, increase shelf life & aesthetic value of materials, and minimize the risk of microbes, such as MRSA and legionella.
The product demand is expected to increase majorly in the healthcare and packaging application industries owing to the Covid-19 pandemic. The continuously rising demand for healthcare and packaging products due to increasing cases of Covid-19 will positively impact the market growth. Asia Pacific is expected to dominate the global market due to the presence of major healthcare product manufacturers in the region.
According to the U.S. Centers for Disease Control and Prevention (CDC), each year about 1 in 25 patients is diagnosed with at least one health-related infection. Medical devices, such as urinary catheters, vascular access devices, or enteral feeding tubes, are particularly susceptible to the colonization of bacteria, which can enter the bloodstream. Thus, medical device manufacturing companies are focusing on using antimicrobial additives for blending with medical device polymers as these additives are highly successful in preventing bacterial colonization on the surface of device components.
On the basis of type, the global market is segmented into organic and inorganic. Inorganic was the prominent segment and accounted for 52.0% of the global revenue share in 2020. The inorganic type segment is expected to witness significant growth due to the high demand for silver-, copper-, and zinc-based additives. Silver-based products are used as antimicrobial agents owing to their properties, such as non-toxicity, continual performance for a long duration, eco-friendly nature, and providing protection against microbial growth.
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Antimicrobial Additives Market Report Highlights
- In terms of revenue, the inorganic type segment accounted for the highest share in 2020 and is expected to expand at the fastest CAGR over the forecast period
- The healthcare end-use segment dominated the global market and accounted for more than 25% of the overall revenue in 2020
- Asia Pacific accounted for the largest revenue share in 2020 and is estimated to register the fastest CAGR from 2021 to 2028
- The growth of the APAC regional market can be credited to the robust manufacturing base of the healthcare and textile industries across China, India, and Japan
- The industry is highly competitive and various strategic initiatives were recorded over the past few years to boost the market growth
- For instance, In November 2019, Sanitized AG partnered with Bodo Moller Chemie for the distribution of its “Sanitized” antimicrobial additives in the Eastern Europe market