Global Demand for Disinfectants and Antiseptics Predicted to IncreaseAugust 10, 2021
A report from market research firm Fact.MR predicts that the global antiseptic and disinfectant market will reach US$160 billion by 2031, expanding at a 21% compound annual growth rate (CAGR) in the next decade.
The market is expected to close at $24 billion by the end of 2021, with a CAGR of about 6% registered from 2016 to 2020. The growth in the market was spurred by the outbreak of COVID-19, which necessitated the increased use of antiseptics and disinfectants. Usage of these products in hospitals and other health care segments will be responsible for over two-fifths of the global revenue share of the market.
The report also found:
- Alcohol-based antiseptics and disinfectant demand is expected to surge at a 20% CAGR
- Quaternary ammonium compounds (quats) are expected to hold a high revenue share, exceeding 30%
- Antiseptic and disinfectant sales for domestic use are likely to generate three out of 10 sales.
The report identified 3M, Reckitt, Kimberly-Clark Corp., Cardinal Health Inc., Bio-Cide International, BD, STERIS plc, and Johnson & Johnson, as key players in the antiseptic and disinfectant market.