Global Surface Disinfectant Market is Expected to Witness Prolific Demand: Projected to Grow at a CAGR of 6.5% During the Forecast Period
Published | May 2021
A recent study conducted by the strategic consulting and market research firm, BlueWeave Consulting, revealed that the global surface disinfectant market was worth USD 3.34 billion in the year 2020. It is estimated to grow at a CAGR of 6.5%, earning revenue of around USD 5.13 billion by the end of 2027. The rising prevalence of wound infections during surgical procedures, combined with increased health and hygiene awareness during the COVID-19 situation, is driving the global surface disinfectant market forward.
Wide Applicability of Surface Disinfectants Driving the Market
Prior to the coronavirus-induced pandemic, surface disinfectants were primarily used in healthcare facilities such as hospitals and surgical centers. It was not widely used in commercial settings, and it was even less common in residential settings. However, in light of new coronaviruses, people are becoming more conscious of the hygiene of their homes, office and surroundings, which is driving the demand for surface disinfectants. Since chemical disinfectants are very crucial in the prevention of viruses, this factor is driving surge in demand for disinfectants.
Stringent Government Regulations Governing Public Place Hygiene Propelling Market Growth
The demand for surface disinfectants has skyrocketed in recent years as a result of government regulations enacted to ensure the hygiene and sanitation of public spaces (such as shopping complexes and malls, food joints, parks, and schools, among others). The government of different countries is especially focusing on disinfecting public places for the prevention of transmission of viruses. Therefore, the government is also funding the cause to promote hygiene and cleanliness, which is expected to drive demand for surface disinfectants during the forecast period.
Hospital Segment will lead the Market During the Forecast Period
Hospital facilities had the highest demand for surface disinfectants among all end-users in 2020. This is due to the fact that they are the most vulnerable to viruses, bacterial, and fungal pathogens, and the risk of patients, visitors, and healthcare facilities contracting these pathogens is quite high. Therefore, for the protection and safety of all those present in the hospital facility, disinfecting the entire premises is very crucial. Furthermore, disinfectants are also used in cleaning equipment and PPE kits, which is driving the market growth.
Global Surface Disinfectant Market - Regional Insights
Geographically, the global surface disinfectant market is segmented into North America, Europe, Asia-Pacific (APAC), Latin America (LATAM), Middle-East & Africa (MEA). With developed healthcare infrastructure and prevalence of hygiene awareness, North America leads the market with the highest market demand for disinfectants. During the surge of COVID-19 in Europe, the region witnessed a significant increase in demand for disinfectants. With growing medical tourism and developing healthcare infrastructure, regions such as Asia-Pacific and Africa are also emerging as potential markets.
Impact of COVID-19 on the Global Surface Disinfectant Market
The COVID-19 scenario has opened the doors for new opportunities for the growth of the global surface disinfectant market. The number of patients visiting healthcare facilities for treatment of COVID-19-related issues or other health problems has increased substantially, disrupting the smooth operation of hospitals and clinics. For tackling such a high number of patients, temporary hospitals and treatment centers have been set up. Therefore, for hygiene and safety purposes and prevention of the spread of viruses, the use of disinfectant rose enormously, which has given a sharp push to the overall surface disinfectant market.
The leading market players in the global surface disinfectant market are Proctor and Gamble, Reckitt Benckiser Group plc, 3M Company, Cantel Medical Company, SC Johnson Professional, The Clorox Company, Steris Company, Ecolab, Inc., Paul Hartmann AG, Diversey, Inc., Carrollclean, Whiteley Corporation, Pal International, Pharmax Limited, Gojo Industries, Medline Industries, Contec, Inc., PDI Inc., Cetylite, Inc., and other prominent players. The companies are constantly adopting market strategies like partnerships, mergers, acquisitions for expanding their consumer base. They are also focusing on research and development in order to launch new products and remain competitive in the market.
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The in-depth analysis of the report provides information about growth potential, upcoming trends, and statistics of the global surface disinfectant market. It also highlights the factors driving forecasts of total market size. The report promises to provide recent technology trends of the global surface disinfectant market and industry insights to help decision-makers make sound strategic decisions. Furthermore, the report also analyses the growth drivers, challenges, and competitive dynamics of the market.
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