Surface Disinfectant Market Worth $4.2 Billion | MarketsandMarkets

CHICAGO, Nov. 6, 2023 /PRNewswire/ -- Surface Disinfectant Market in terms of revenue was estimated to be worth $2.6 billion in 2023 and is poised to reach $4.2 billion by 2028, growing at a CAGR of 9.4% from 2023 to 2028 according to a new report by MarketsandMarkets. The players operating the surface disinfectant market are enjoying favorable opportunities due to increased demand for infection control measures aimed at reducing hospital acquired infections, an increase in use of more advanced surface disinfectants and greater awareness regarding sanitation and hygiene after COVID 19 has spread.

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Browse in-depth TOC on "Surface Disinfectant Market"
173 - Tables
39 - Figures
219 - Pages

Surface Disinfectant Market Scope:

The alcohol segment accounted for the largest share of the surface disinfectant market, by composition segment, in 2022

Based on composition, the surface disinfectants market is segmented into alcohol, chlorine compounds, quaternary ammonium compounds, hydrogen peroxide, peracetic acid, and other compositions. The ability of alcohol-based disinfectants to efficiently kill germs and evaporate immediately and the increased demand patterns for domestic and hospital-grade disinfectants due to the spread of viral diseases are expected to boost the growth of this market segment.

Liquid segment to register the highest growth rate during the forecast period

Based on type, the surface disinfectants market is distributed into liquids, wipes, and sprays. In 2022, the liquid segment accounted for the highest market share of the surface disinfectant market. The large share of this segment is mainly driven by the wide use of liquid disinfectants for infection control of hospital-acquired infections and corresponding low cost compared to sprays and wipes.

The surface disinfection segment accounted for the largest share of the surface disinfectant market, by application segment, in 2022

Based on application, the surface disinfectants market is segmented into surface disinfection, instrument disinfection, and other applications. In 2022, the large share of this application segment is mainly due to hospital acquired infections and other chronic infections which require surface disinfection on daily basis as they contain contagious elements.

The hospital settings segment accounted for the largest share of the surface disinfectant market, by end-user segment, in 2022

Based on end users, hospital settings, diagnostic laboratories, pharmaceutical & biotechnology companies, and research laboratories. In 2022, hospital settings held for a largest share of the surface disinfectant market owing to the high prevalence of HAI's due to increased hospitalization, thereby  continuous demand of disinfectants in hospitals settings.

North America is the largest regional market for surface disinfectant market

The global surface disinfectant market is segmented into five major regions—North America, Europe, the Asia Pacific, Latin America, and the Middle East & Africa. North America accounted for the largest regional market for surface disinfectant market in 2022. The large share of North America in this market is due to high demand of surface disinfectants, rising healthcare spending, hygiene and health-related awareness, and increased R&D activities across surface disinfectant formulators.

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Surface Disinfectant Market Dynamics:

Drivers:

1.  Rising demand for infection control measures to curb hospital-acquired infections

Restraints:

1.  Rising number of adverse effects of chemical disinfectants

Opportunities:

1.  Increasing healthcare expenditure and focus in emerging economies

Challenge:

1.  Stringent regulations

Key Market Players of Surface Disinfectant Industry:

The major players operating in this market are 3M (US), Procter & Gamble (US), Reckitt Benckiser Group Plc (UK), Ecolab (US), STERIS (US), The Clorox Company (US), SC Johnson Professional (US), CarrollCLEAN (US), PAUL HARTMANN AG (Germany), Sanosil AG (Switzerland), Metrex Research, LLC (US), Whiteley Corporation (Australia), GOJO Industries, Inc. (US), Acuro Organics Limited (India), Pharmax Pharmaceuticals FZ-LLC (Canada), PDI, Inc. (US), Becto, Inc. (US), GESCO Healthcare Pvt. Ltd. (India), MEDALKAN (Greece), Ruhof (US), Cetylite, Inc. (US), Micro-Scientific, LLC (US), Pal International (UK), Brulin Holding Company, Inc. (US), and CareNow Medical Private Limited (India).

Breakdown of supply-side primary interviews, by company type, designation, and region:

• By Company Type: Tier 1 (40%), Tier 2 (30%), and Tier 3 (30%)
• By Designation: C-level (27%), Director-level (18%), and Others (55%)
• By Region: North America (51%), Europe (21%), Asia- Pacific (18%), Latin America (6%), and Middle East & Africa(4%)

Recent Developments:

• In June 2023, Reckitt Benckiser Group PLC (UK) launched the new Lysol Air Sanitizer in the US. This is the first and only air sanitizing spray approved by the EPA, which kills 99.9% of airborne viruses and bacteria.
• In June 2021, STERIS (US) acquired Cantel Medical to strengthen its infection prevention products and services to endoscopy, dental, dialysis and life science customers.
• In November 2020, 3M (US) launched TB Quat Disinfectant Ready-to-Use Cleaner.

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Surface Disinfectant Market - Report Highlights:

• Recession Impact Analysis: The new report includes an analysis of the impact of recession on the surface disinfectant the market overview section.
• Newer and improved representation of financial information: The report provides financial information till 2022 (depending on the availability) for each listed company in a graphical representation in a single diagram (instead of multiple tables). This will allow for the easy analysis of the present status of profiled companies in terms of their financial strength, profitability, key revenue-generating country/region, and business segment focus in terms of the highest revenue-generating segment.
• Recent Market Developments: Recent developments are helpful to know the market trend and growth strategies adopted by players in the market. The report provides the updated developments in terms of acquisitions, agreements, expansions, and agreements/collaboration etc.
• Latest Product portfolio: The report provides an updated product portfolio of the companies profiled in the report.
• Competitive leadership mapping: The competitive landscape chapter has been updated with the market evaluation matrix. The competitive landscape includes the market share analysis for 2022, updated competitive leadership mapping, and competitive situation & trends. The report has added the vendor dive matrix, covering a comprehensive study of the key vendors. Competitive leadership mapping has also been done for start-ups/SMEs.

Surface Disinfectant Market - Key Benefits of Buying the Report:

The report will help the market leaders/new entrants in this market with information on the closest approximations of the revenue numbers for the overall surface disinfectant market and the subsegments. This report will help stakeholders understand the competitive landscape and gain more insights to position their businesses better and to plan suitable go-to-market strategies. The report also helps stakeholders understand the pulse of the market and provides them with information on key market drivers, restraints, challenges, and opportunities.

The report provides insights on the following pointers:

• Analysis of key drivers (High prevalence of HAIs, advancements in surface disinfectants for sanitization), restraints (Adverse effects of chemical disinfectants, Alternative Technologies), opportunities (Rising healthcare expenditure, Increasing Demand from Emerging Economies), and challenges (stringent regulations) influencing the growth of the surface disinfectant market.
• Product Development/Innovation: Detailed insights on upcoming technologies, research & development activities, and new product & service launches in the surface disinfectant market
• Market Development: Comprehensive information about lucrative markets – the report analyses the surface disinfectant market across varied regions.
• Market Diversification: Exhaustive information about new products, untapped geographies, recent developments, and investments in the surface disinfectant market
• Competitive Assessment: In-depth assessment of market shares, growth strategies and service offerings of leading players like 3M (US), Procter & Gamble (US), Reckitt Benckiser Group Plc (UK), Ecolab (US), STERIS (US), The Clorox Company (US), among others in surface disinfectant market

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