by Antiseptics are antimicrobial substances that are applied to skin, living tissues orcavity openings to reduce the possibility of infection, sepsis or putrefaction. They help prevent infection in minor cuts, sores or burns. With rising incidences of hospital acquired infections and increasing awareness regarding disinfection in domestic as well as healthcare settings, the demand for antiseptics is growing substantially. Antiseptics find wide applications in hospitals, clinics, laboratories and homes to maintain hygiene.
The global Antiseptic Market is estimated to be valued at US$ 32.21 Bn in 2023 and is expected to exhibit a CAGR of 3.4% 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 drivers propelling the antiseptic market growth is rising demand from healthcare industry. Growing concerns about healthcare associated infections and implementation of various integrity control policies by healthcare organizations are boosting the sales of antiseptic products for disinfection and sterilization purposes. According to World Health Organization, over 1.4 million people worldwide contract healthcare associated infections annually leading to nearly 100,000 deaths. This has increased the focus on effective infection control measures including use of antiseptic solutions, gels and wipes in hospitals and clinics. Growing geriatric population which is more prone to infections is another factor augmenting the market growth over the forecast period.
SWOT Analysis
Strength: Antiseptic products are used to prevent infection in wounds and provide sterilization. This provides a steady demand for antiseptic manufacturers.
Weakness: Antiseptic products may cause skin irritation in some users. Their overuse can also lead to antimicrobial resistance which poses a threat.
Opportunity: Growing awareness about hygiene and health during the COVID-19 pandemic has increased the demand for antiseptic and disinfectant products. They can leverage this opportunity through innovation in delivery methods.
Threats: Stringent regulations around the usage of certain antiseptics act as a barrier. Environmental concerns regarding the disposal of antiseptic wipes can impact product demand.
Key Takeaways
The Global Antiseptic Market Size is expected to witness high growth over the forecast period owing to increased hygiene awareness post COVID-19. The global Antiseptic Market is estimated to be valued at US$ 32.21 Bn in 2023 and is expected to exhibit a CAGR of 3.4% over the forecast period 2023 to 2030.
Regional analysis
The Asia Pacific region currently has the largest share in the global antiseptic market due to growing healthcare infrastructure and increasing standards of living. Countries like India, China, and Japan are major markets driving demand. Europe follows in terms of market share due to stringent hygiene regulations in healthcare facilities in the region.
Key players
Key players operating in the antiseptic market are Henkel AG & Co. KGaA, Chemtronics, Electrolube, Dow Corning Corporation, 3M Company, Dymax Corporation, KYZEN Corporation, Master Bond Inc., Techspray, Chase Corporation, ACC Silicones Ltd., LORD Corporation, Shin-Etsu Chemical Co., Ltd., Avery Dennison Corporation, MG Chemicals. These players are focusing on product innovation and expansion into emerging markets 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
Ravina Pandya, Content Writer, has a strong foothold in the market research industry. She specializes in writing well-researched articles from different industries, including food and beverages, information and technology, healthcare, chemical and materials, etc. With an MBA in E-commerce, she has an expertise in SEO-optimized content that resonates with industry professionals.
