by The Surface Disinfectant Market is estimated to be valued at US$ 7347.2 Mn in 2023 and is expected to exhibit a CAGR of 7.9% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
Surface disinfectants are chemical substances used to reduce or eliminate harmful microorganisms from surfaces and objects. They are formulated for household and commercial uses and are available in various forms including sprays, wipes and liquids. They help to destroy bacteria, viruses, fungi and other germs from countertops, doorknobs, faucets and other hard surfaces. Commonly used actives are chlorine, alcohols, hydrogen peroxide, quaternary ammonium compounds and iodophors. Rising health concerns and spread of infectious diseases have boosted the demand for surface disinfectants in healthcare, hospitality and other industries.
Market Dynamics:
Increasing prevalence of hospital acquired infections (HAIs) is a key factor driving the surface disinfectant market growth. HAIs affect hundreds of thousands of people each year extending hospital stays and raising healthcare costs. For instance, according to CDC, around 1 in 31 hospital patients contract at least one HAI each year in the US. Moreover, growing awareness about hygiene and sanitization during Covid-19 pandemic has significantly boosted the sales of surface disinfectants globally. Concerns regarding spread of viruses and bacteria through surfaces has increased adoption of disinfectants in households as well as commercial establishments including schools, malls and offices. however, availability of alternative methods for surface sanitization may hinder market growth.
Segment Analysis
The Surface Disinfectant market is dominated by the disinfectant sprays & wipes segment. Around 48% of the total surface disinfectant market share is held by disinfectant sprays & wipes as they are easy-to-use, convenient and highly effective in disinfecting surfaces. Users simply need to spray or wipe the disinfectant on the targeted surface for it to effectively kill germs and bacteria.
PEST Analysis
Political: Stringent regulations regarding hospital-acquired infections in healthcare facilities across regions are boosting the adoption of surface disinfectants.
Economic: The growing healthcare expenditure coupled with ongoing Covid-19 pandemic is fueling the demand for surface disinfectants globally.
Social: Increasing awareness about hygiene and cleanliness among consumers is propelling the surface disinfectant market growth.
Technological: Advancements in formulation technologies have led to the development of disinfectants that are safe, non-toxic, and have a wide range of effectiveness against pathogens.
Key Takeaways
The global Surface Disinfectant Market is expected to witness high growth, exhibiting CAGR of 7.9% over the forecast period, due to increasing healthcare expenditure globally and ongoing Covid-19 pandemic. Regionally, North America dominates the surface disinfectant market with over 40% market share owing to stringent regulations and protocols to curb hospital acquired infections. Key players operating in the surface disinfectant market include 3M, Reckitt Benckiser Group PLC, Procter & Gamble, Cantel Medical Corporation, The Clorox Company, Ecolab, SC Johnson Professional, Whiteley Corporation, and Steris PLC.
The surface disinfectant market in Asia Pacific is projected to grow at the fastest rate during the forecast period. Countries like China, India and other developing nations are increasingly investing in healthcare infrastructure which is supporting the market growth.
Key players operating in the (incorporate given market name) are 3M, Reckitt Benckiser Group PLC, Procter & Gamble, Cantel Medical Corporation, The Clorox Company, Ecolab, SC Johnson Professional, Whiteley Corporation, and Steris PLC. These players are focused on new product launches and expansion of existing manufacturing facilities to cater to the growing demand.
*Note:
- Source: Coherent Market Insights, Public sources, Desk research
- We have leveraged AI tools to mine information and compile it
