Major players in the disinfectants market are 3M Company, Johnson & Johnson, Reckitt Benckiser Group PLC, Bio-Cide International Inc., Cardinal Health, Steris Corporation, Procter & Gamble, Kimberly-Clark Corporation, and Novartis AG.
The global disinfectants market is expected to grow from USD 0.66 billion in 2019 to 0.78 billion in 2020 at a compound annual growth rate (CAGR) of 17.2%. The mark able growth is mainly due to the COVID-19 outbreak and the measures to contain it. Coronavirus infection is transmitted in most instances through contact with contaminated surfaces/objects. The virus gets easily inactivated by chemical disinfectants, increasing the demand has significantly. The market is then expected to stabilize and reach USD 1.04 billion in 2023 at CAGR of 10.02%.
The disinfectants market consists of sales of the chemical solutions that kill microorganisms and prevent infectious diseases. Disinfectant in general refers to a chemical agent that is used to kill all recognized pathogenic microorganisms on inanimate objects on the surface of floors, tiles, washrooms, furniture and instrument.
North America was the largest region in the disinfectants market in 2019. Asia-Pacific is expected to be the fastest growing regions in the forecast period.
Disinfectant service providers are using the drone to spray the disinfectant solutions without using humans to reduce the spread of infection from the contaminated area. In China, several drone manufacturer has modified their agricultural drone models, which were originally intended to spray crops with pesticides, to spray disinfectant. Over large areas can be disinfected with ease and effective way.
A saturated market of developed economies is expected to limit the growth of the disinfectant market. In recent years, the developed countries are using the same quantity of disinfectant solutions as previous years. Due to the stabilized consumption, the growth rate in developed markets is expected to decline when compared to the growth of disinfectants in the emerging market. Inadequate change in the market hampers the disinfectant market.
In March 2019, Innovative chemical products acquired benefect for an undisclosed amount. The acquisition is expected to strength the ICP BSG’s family. Benefect is founded in year 2006 and leading supplier of hospital disinfectant using essential oils from plants.
Rising occurrence of hospital-acquired infections increased spending on disinfectant solutions globally and this factor contributed to the global disinfectant market’s growth. Patients sometimes get cured in hospitals but however get infected by other diseases in hospitals itself, this is called Hospital-acquired infections (HAI). According to the world health organization (WHO), in Europe, nearly 41.31 lakhs patients are infected by approximately 45.441 lakhs episodes of healthcare-associated infections every year. The increase in safety towards patients in hospitals has boosted the spending on disinfecting solutions which resulted in the growth of the disinfectant market.
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Ankur Gupta, Head Marketing & Communications