Global Disinfectant Market Poised for GrowthJanuary 26, 2022
The global surface disinfectant market will reach US$4.3 billion by 2026 from $2.9 billion in 2021, a compound annual grown rate (CAGR) of 8.4%, according to projections in a report from MarketsandMarketsTM.
The report found market growth is driven by several factors including the rising demand for infection control measures to curb the occurrence of health care-acquired infections (HAIs) and growing awareness of sanitization and hygiene due to the spread of COVID-19. On the other hand, the rising number of adverse effects of chemical disinfectants and increasing development of alternative technologies are major factors hampering the growth of this market.
The report found:
- The alcohol segment accounted for the highest share in the surface disinfectant market, during the forecast period. This market is segmented into alcohols, chlorine compounds, quaternary ammonium compounds (quats), hydrogen peroxide, peracetic acid, and other compositions.
- The liquid segment accounted for the highest growth rate in the surface disinfectant market, by type, during the forecast period. The surface disinfectant market is segmented into liquid, wipes, and sprays.
- The hospital settings segment accounted for the highest share in the market, among the other segments which include diagnostic laboratories, pharmaceutical and biotechnology companies, and research laboratories. This can be attributed to the increasing use of newer surface disinfectants for sanitization and rising demand for infection control measures to curb the occurrence of HAIs
- Europe is the fastest-growing region in the surface disinfectant market compared to the other regions—North America, the Asia Pacific, Latin America, and the Middle East and Africa.