by Bio decontamination is the process of eliminating hazardous biological agents or microorganisms from an area using chemical, physical, or biological methods. Bio decontamination products such as hydrogen peroxide vapors, chlorine dioxide gas and dry fogging or misting systems are used in hospitals, healthcare facilities and life science research institutes to decontaminate isolation rooms, operation theaters and laboratories. These products aid in eliminating dangerous microbes that cause surgical site, bloodstream and other healthcare associated infections in patients and staff. The global bio decontamination market comprises of sterilizers, washer disinfectors, UV equipment and other consumables such as detergents and disinfectants that are used during surgical procedures and cleaning of medical devices. Bio decontamination ensures safety of patients and medical practitioners from drug resistant infections while enabling reuse of facilities in busy hospitals.
The global Bio Decontamination Market is estimated to be valued at US$ 178.3 Mn in 2023 and is expected to exhibit a CAGR of 6.2% 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 Global Bio Decontamination Market Size is the increasing adoption of environment-friendly disinfection techniques. Continuous exposure to toxic disinfecting chemicals has raised health and environmental concerns. Hence, hospitals are shifting towards eco-friendly alternatives such as hydrogen peroxide vapour systems and dry mist disinfection systems that leave no toxic residue and are safer for patients and staff. Additionally, manufacturers are developing advanced bio decontamination equipment with features such as shorter decontamination cycle times and real-time monitoring of disinfection progress to improve sterilization efficiency. They are also integrating bio decontamination units with other medical devices using internet of things (IoT) for remote operations and monitoring. This is expected to drive the demand for technologically advanced bio decontamination solutions in the coming years.
Porter’s Analysis
Threat of new entrants: Low. Bio decontamination requires high initial investments and established distribution networks. Regulations also limit new entrants.
Bargaining power of buyers: Moderate. Buyers have some influence due to the availability of substitutes and fragmented market. However, switching costs are high.
Bargaining power of suppliers: Moderate. Suppliers of equipment and consumables have some control over prices. However, the market is dominated by few major suppliers.
Threat of new substitutes: Low. There are limited viable alternatives to bio decontamination currently. Technologies such as hydrogen peroxide gas plasma, vaporized hydrogen peroxide offer some substitution.
Competitive rivalry: High. The market is moderately concentrated with global players competing. Companies compete based on innovation, service quality, and brand reputation.
Key Takeaways
The global bio decontamination market is expected to witness high growth. The global Bio Decontamination Market is estimated to be valued at US$ 178.3 Mn in 2023 and is expected to exhibit a CAGR of 6.2% over the forecast period 2023 to 2030.
North America dominated the market in 2022 due to stringent regulations and growing healthcare industry. Factors such as increasing incidence of hospital-acquired infections, rising usage of biodecontamination for pharmaceutical and biotechnology industries will boost the regional market over the forecast period. However, the Asia Pacific region is likely to grow at the fastest pace driven by increasing medical tourism, outsourcing of clinical trials and widening scope of biosafety across industries.
Key players operating in the bio decontamination market are Epiroc Ab, AB Volvo (Volvo Construction Equipment), Doosan Corporation, Caterpillar Inc., and Deere & Company. The major players focus on new product launches and acquisitions to expand their global presence and enhance their product portfolio. For instance, in February 2021, Caterpillar acquired Marble Robot to strengthen autonomous heavy equipment capabilities using safety and perception technology.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
