Healthcare Segment Is The Largest Segment Driving The Growth Of The Global Disinfectants Market
Disinfectants are chemical substances or mixtures that are applied to non-living objects to destroy or inhibit the growth of microorganisms like bacteria, viruses, or fungi. Disinfectants help prevent the spread of infectious diseases by killing germs on surfaces or objects, like countertops, door handles, and surgical instruments.
The global Disinfectants Market is estimated to be valued at US$ 49.0 Billion in 2023 and is expected to exhibit a CAGR of 6.0% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
One of the key trends in the disinfectants market is the growing demand for disinfectants from the healthcare sector. With the rise in hospital-acquired infections and stringent regulations regarding sterilization and disinfection of medical equipment and healthcare facilities, the demand for various disinfectants like hand sanitizers, surface disinfectants, instrument disinfectants is increasing substantially. Advanced disinfectants with broader antimicrobial spectra and longer-lasting residual effects are gaining popularity in the healthcare industry.
SWOT Analysis
Strength: Disinfectants provide effective protection against various pathogens such as bacteria and viruses. They help eliminate infection-causing microorganisms and ensure hygiene.
Weakness: Overuse of certain chemical-based disinfectants can harm the environment and pose health risks. Strict regulations and compliance requirements associated with disinfectants increase production costs.
Opportunity: Increasing awareness about health and hygiene among consumers is fueling the demand for innovative and sustainable disinfectant products. Rise in hospital-acquired infections also creates growth opportunities.
Threats: Volatility in raw material prices can impact profit margins for manufacturers. Intense competition among existing players poses pricing pressure in the market.
Key Takeaways
The global disinfectants market is expected to witness high growth, exhibiting CAGR of 6.0% over the forecast period, due to increasing health consciousness among consumers. Frequent outbreaks of infectious diseases and rising hygiene standards boost the market growth.
Regional analysis
The disinfectants market in Asia Pacific is projected to grow at the fastest rate due to improving healthcare infrastructure, rising living standards, and expanding customer base. North America dominates the global market, owing to strict regulations to curb hospital-acquired infections and presence of key players in the region.
Key players
Key players operating in the disinfectants market are Solvay S.A., Unilever Group, Evonik Industries AG, 3M Company, Procter & Gamble Corporation, dowdupont Inc., Lanxess AG, BASF S.E., The Clorox Company, and Reckitt Benckiser Plc. These companies have sophisticated manufacturing facilities and undertake new product launches, mergers, and collaborations to gain market share.
*Note:
1.Source: Coherent Market Insights, Public sources, Desk research
2.We have leveraged AI tools to mine information and compile it
