Worldwide surface disinfectant market is likely to cross over USD 600 million by 2022.This industry is growing at an approximate CAGR over 11% over the forecast period. Factors such as rising number of hospital-acquired infections, growing healthcare expenses and escalating surgical operations are likely to boost market growth over the coming years. Legislative guidelines such as Affordable care act coupled with strict guidelines have compelled hospital authorities to ensure sanitation in their facilities. Also, growing concern about healthcare-acquired infections is likely to drive surface disinfectant demand over the coming years.
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Consequent rise in chronic diseases and rapidly escalating geriatric population have augmented health issues. Growing incidents of human transmitted and infectious disease, mainly among healthcare workers have increased the requirement for surface disinfection in hospitals. Also, initiatives undertaken by government to increase awareness regarding need for disinfection cleanliness are anticipated to drive market growth. Growing focus on child health coupled with rising disposable income has positively impacted the home disinfectants demand.
Based on product, the overall surface disinfectant market is segmented into phenolics compounds, hydrogen peroxide, quaternary ammonium compounds aldehydes, and hypochlorite, gluconate, chlorhexidine and iodine compounds. In 2014, hypochlorite contributed for the highest share and is anticipated to lead the market over the coming years. Hypochlorite is mainly used for water treatment, bleaching and disinfection. Quaternary ammonium compounds are estimated to undergo rapid growth due to their biodegradable nature.
Asia Pacific is projected to be fastest growing region over the coming years. This is mainly due to rising government expenditure on cleanliness and public health and population. Increasing disposable income in addition to rising consumer awareness regarding need for cleanliness and hygiene is expected to promote the product demand over the next seven years. North America holds the highest share and is likely to maintain its position over the coming years .High standards of living in the region have driven hygienic habits and home cleanliness among consumers. Also, government initiatives’ in the region regarding hygiene is likely to drive the market growth in the region. Rising healthcare expenditure in Middle East countries such as UAE. Kuwait and Saudi Arabia is likely to create new opportunities for major market participants in the region.
Information Source: Radiants Insights