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Mar-2021

Global Surface Disinfectant Market Size To Reach USD 988 Mn By 2026

Global Surface Disinfectant Market Size, Share, Trends, Growth, COVID-19 Analysis Report - Segmented By Formulation, Type, Application & Region – Industry Forecast (2021 to 2026)

As per the recent research report published by Market Data Forecast, the global surface disinfectant market is estimated to be worth USD 913.26 million by 2025.

Y-O-Y growth in the incidence of infectious diseases and favorable government regulations concerning medical hygiene usage are majorly accelerating the growth rate of the global surface disinfectant market. The recent COVID-19 has created a boom in the global surface disinfectant market and significantly increased demand levels for these products. The growing usage of alcohol on hard surfaces, particularly in labs and hospitals, drives market growth. The increase in the prevalence of killing the microorganisms, sterilization of devices to lower the spread of humanly transmitted diseases, and growing awareness created by the government over maintaining hygiene to prevent contagious and infectious diseases are further expected to boost the market growth.

Additionally, factors such as increasing automotive production, industrial production, construction and infrastructure activities, and rising demand for maintaining cleanliness at these locations, are augmenting the market growth. The advancements in surface disinfection and stringent government regulations for surface disinfection are positively influencing the market growth for the surface disinfectant market. The increasing number of surgical procedures in healthcare facilities are boosting the Surface disinfectant market. To prevent wounds from becoming infected, surface disinfectants have been utilized. As per the American College of Cardiology, wound infection rates range from 2 to 17.5 percent following trauma and 1 to 1.5 percent after minor dermatological surgical operations (ACC).

However, spraying and using disinfectants may affect human health and causes various health-related problems as they contain toxic substances that restrict the surface disinfectant market. Insufficient knowledge over the usage of chemical agents and improper chemical agents' usage causes environmental hazards and causes illness in patients. This is also to limit the growth rate of the market.

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COVID 19 Impact on the global surface disinfectant market:

The World Health Organization (WHO)has announced COVID-19 as an emergency public health issue. The COVID 19 crisis has had a positive impact on the surface disinfectants market. The widespread of COVID 19 is increasing quickly worldwide. Governments across the world have declared a lockdown period. During the lockdown, all the government organizations came forward to disinfectant all the public places, surroundings as instructed by the healthcare professionals and authorities.

Maintaining personal hygiene and public hygiene is also very essential in this fight against COVID 19. In the U.S., the Environmental Protection Agency has approved 500 disinfectants for battling against Coronavirus. Maintaining cleanliness and hygiene helps us prevent infectious diseases and protects us from germs and viruses causing illness. To decrease the spread of the disease, hospitals, quarantine clinics, public places, and homes must be sanitized regularly. These factors are impelling the growth rate of the market since the start of COVID-19.

KEY MARKET INSIGHTS:

Based on the formulation: The liquid category is projected to dominate the global surface disinfectant market during the forecast period. The market is estimated to register a CAGR of 6.62% in the coming years. owing to the increasing demand to maintain Hygiene by spraying disinfectants in public places, the market is growing.
Based on the type: The Quaternary Ammonium Compounds segment recorded a significant share in the global surface disinfectant market. One of the key elements driving demand for this sector is the rising size of healthcare centers. Phenol and the quaternary ammonium compounds category have the largest market share, thanks to government programs that have raised awareness even in remote regions. In the subsequent years, chlorhexidine gluconate, alcohol, and aldehyde are expected to rise in popularity.
Based on the application: The In-house application is likely to witness significant market share owing to the increasing human transmitted diseases. Increasing investments in R&D activities are creating lucrative growth opportunities for the market players.
Geographically, North America dominated the global surface disinfectant market with a share of 34.0% in 2020. Increasing focus on health and Hygiene and increasing healthcare spending are driving the market in the region. As the pandemic spreads across the United States, demand for surface disinfectants is expected to rise due to concerns about diseases and infections, especially during COVID-19. Europe is expected to have the second-largest share of the global surface disinfectant market. To meet demand and service European healthcare institutions locally, international players are developing their production facilities in the region. The Asia-Pacific market is one of the fastest-growing regions, and it is expected to strengthen its position in the global market during the forecast period. The presence of developing countries like China and India is further expanding the market.
3M Company (U.S.), Procter & Gamble (U.S.), Johnson & Johnson (U.S.), and Ecolab (U.S.) are some of the companies playing a significant role in the global surface disinfectant market.