Antiseptics And Disinfectants Market Size Worth $105.4 Billion By 2028
The global Antiseptics And Disinfectants Market size is expected to reach USD 105.4 billion by 2028, according to a new report by Grand View Research, Inc. The market is expected to expand at a CAGR of 20.8% from 2021 to 2028. Increasing use of endoscope reprocessors and surgical units, and rising prevalence of hospital-acquired infections are the key driving factors for the market.
Increasing cases of HAIs due to lack of sanitation and precaution is a key factor anticipated to propel the market growth over the forecast period. According to the CDC report in 2018, around 1.7 million cases of HAIs and around 99,000 associated deaths are reported each year in American hospitals. As per the report published by European Centre for Disease Prevention and Control (ECDC) in 2018, prevalence of HAIs in European countries was around 7.1%. It also reported that around 4,131,000 patients suffer from HAIs in Europe each year.
Such cases are expected to increase the demand for antiseptics and disinfectants. Application of disinfectant solutions in hospitals and clinics generally protects against contamination and lowers risk of acquiring HAIs. They can also be used to eliminate bacteria and microbes before they can enter a patient’s body. Such solutions are required in hospitals to maintain proper hygiene and sanitation, thereby lowering the risk of HAIs, which is anticipated to propel market growth over the forecast period.
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Antiseptics And Disinfectants Market Report Highlights
- In terms of revenue, the quaternary ammonium compounds segment held the largest revenue share in 2020 owing to rising incidence of healthcare-associated infections and increasing number of hospitals across the globe
- The enzymatic cleaners segment is expected to witness the fastest growth over the forecast period. The growth of this segment can be attributed to the increasing number of hospitals in developing countries
- The hospital segment is expected to witness the fastest growth rate over the forecast period. Increasing number of hospitals in developing countries is expected to propel segment growth
- The B2B held the largest revenue share in 2020 owing to the rising end users opting for this sales channel across the globe
- In Asia Pacific, the market is expected to witness the fastest growth over the forecast period owing to the rising prevalence of cardiovascular, neurology, and urology disorders