April 16, 2024
Antiseptic Market

Antiseptic Market is Estimated to Witness High Growth Owing to Increasing Awareness of Healthcare-Associated Infections

The antiseptic market includes products such as quaternary ammonium compounds, chlorhexidine gluconate, hydrogen peroxide, and iodine solutions, which are used for disinfecting wounds and preventing infection. These products help destroy or inhibit the growth of microorganisms on skin or other tissues. With the increasing risk of healthcare-associated infections, antiseptics are being widely used both in hospitals and at homes.

The Global Antiseptic Market Size is estimated to be valued at US$ 37.11 Bn in 2024 and is expected to exhibit a CAGR of 14% over the forecast period 2024 to 2030.

Key Takeaways

Key players operating in the antiseptic market are Kothari Fermentation and Biochem Ltd, ABF ingredients, Biomin, Angel Yeast, Bob’s Red Mill, Cargill Inc., Nutreco, Alltech and Pacific Ethanol. The key players are focused on new product development and innovation to gain a competitive edge in the market. For instance, in 2021, Reckitt launched its Lysol range of antiseptic solutions with new fragrances.
The rising awareness about healthcare-associated infections and growth of the healthcare industry present key opportunities in the antiseptic market. Technological advancements are leading to the development of antiseptics with advanced formulas that are more effective and cause less skin irritation.

Market Drivers

One of the key drivers of the antiseptic market is the increasing prevalence of hospital-acquired infections. Hospital-acquired infections are difficult to treat and significantly add to patient morbidity and mortality. As per the U.S Centers for Disease Control and Prevention, 1 in 31 hospital patients contract at least one hospital-acquired infection every year. This has increased the utilization of antiseptics and disinfectants in healthcare facilities.

Current Challenges in Antiseptic Market

The antiseptic market is currently facing few challenges. Stringent regulatory policies for approval of new antimicrobial products is one of the major challenges as it increases the time and costs involved in product development and commercialization. Lack of innovative products is another challenge as most of the dominant existing players rely on generic antiseptics. Growing antibiotic resistance is also prompting many public health organizations to promote rational antibiotic use and limit antibacterial product consumption, which poses a threat for antiseptic market growth.

SWOT Analysis

Strength: Wide application in healthcare, animal health, food industry boosts demand. Effective against bacteria, fungi and viruses.
Weakness: Overuse can lead to development of antimicrobial resistance. Prolonged exposure to some antiseptics can cause skin irritation in some individuals.
Opportunity: Rising hygiene awareness post-Covid pandemic increases product usage. Potential in developing antimicrobial coatings for surfaces.
Threats: Strict regulations delay product approvals. Alternatives like probiotics gaining traction in animal feed industry.

Geographical Regions

North America accounts for around 35% of the global antiseptic market value owing to rising healthcare spending and infrastructure in the US and Canada. Stringent hygiene rules in healthcare settings further drive consumption.
Asia Pacific exhibits fastest growth led by expanding medical tourism industry and growing public awareness about hygiene in emerging nations like India and China. Favorable government initiatives to prevent hospital-acquired infections also support regional market expansion.

Current Fastest Growing Region for Antiseptic Market

Asia Pacific is currently the fastest growing region for the antiseptic market fueled by rapid socio-economic development, rising health expenditure, growing population and improving access to healthcare across major countries. India and China as the most populated nations experience strong demand growth aided by increasing medical tourism, hygiene consciousness and prevalence of infectious diseases. Expanding pharmaceutical and FMCG industries also contributes to ample business opportunities in Asia Pacific antiseptic market.

*Note:
1.Source: Coherent Market Insights, Public sources, Desk research
2.We have leveraged AI tools to mine information and compile it