by The Bio Decontamination Market is estimated to be valued at US$ 178.3 Mn in 2023 and is expected to exhibit a CAGR of 18.% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
The Bio Decontamination Market is a process that removes microorganisms harmful to human health. The use of bio decontamination equipment and consumables is increasing across various industries such as pharmaceutical, healthcare, food, and others to eliminate risks of contamination.
Market Overview:
Bio decontamination refers to the process of eliminating pathogens and microorganisms from facilities, equipment and areas using biological methods. It utilizes various sterilization technologies such as vaporized hydrogen peroxide, chlorine dioxide gas and dry mist hydrogen peroxide to decontaminate areas without using harsh chemicals that can damage equipment and facilities. Equipment used for bio decontamination includes chamber systems, equipment such as handheld portable devices and consumables in the form of non-toxic decontaminating solutions.
Market key trends:
One of the key trends driving the bio decontamination market growth is the increasing incidence of hospital-acquired infections. Hospital-acquired infections also known as nosocomial infections are those infections which patients acquire during the process of care in a hospital or a healthcare facility. Infections like MRSA, VRE and C. difficile are on the rise demanding better sterilization measures. Bio decontamination equipment and consumables are helpful in eliminating such healthcare associated pathogens. Furthermore, stringent regulations regarding terminal sterilization and growing number of drug discovery and biotechnology activities are also fueling the demand for bio decontamination globally.
Porter’s Analysis
Threat of new entrants: The bio decontamination market requires high initial investments hampering new players to enter the market.
Bargaining power of buyers: The presence of several alternative decontamination methods provides high bargaining power to buyers.
Bargaining power of suppliers: Suppliers have moderate bargaining power due to availability of alternative raw material sources and suppliers.
Threat of new substitutes: Rapid technological advancements may lead to new decontamination methods posing threat of substitution.
Competitive rivalry: Intense competition exists among existing players due to their wide product portfolio and global presence.
SWOT Analysis
Strength: The bio decontamination market is driven by rising concerns regarding hospital acquired infections (HAIs). It offers complete decontamination of surfaces.
Weakness: High costs associated with bio decontamination equipment and processes hinders its adoption in resource constrained settings. Lack of skilled professionals also affects market growth.
Opportunity: Increasing R&D investments and venturing into emerging economies provides new opportunities. Growing pharmaceutical and biotechnology industries further expands scope.
Threats: Stringent regulations delayed product approvals impacting overall spending. Health, safety and environmental concerns pertaining to decontamination agents restrict market growth.
Key Takeaways
The Global Bio Decontamination Market Demand is expected to witness high growth, exhibiting CAGR of 18% over the forecast period, due to increasing prevalence of HAIs globally. North America dominates the bio decontamination market currently due to stringent regulations and presence of leading market players. Asia Pacific is anticipated to exhibit fastest growth throughout the forecast period owing to rising healthcare infrastructure, growing medical tourism and increasing incidence of infections.
Key players operating in the bio decontamination market are STERIS Corporation, Ecolab, Inc., TOMI Environmental Solutions, Inc., JCE Biotechnology, Fedegari Autoclavi SpA, Howorth Air Technology Ltd., Noxilizer, Inc., and ClorDiSys Solutions, Inc. STERIS Corporation maintains its leading position in the market driven by its diverse product portfolio and global presence across major markets. Other major players focus on partnerships, new product launches and regional expansion to strengthen their positions.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
