Surface Disinfectant Market by Type, Formulation, Application, End User - Global Forecast to 2022
NEW YORK, Sept. 6, 2017 /PRNewswire/ -- The surface disinfectants market was valued at USD 529.6 million in 2017 and expected to grow at a CAGR of 8.3% to a USD 789.1 million market by 2022. Factors driving this market are increasing number of surgical procedures, rising geriatric population, and subsequent growth in the prevalence of chronic diseases. On the other hand, market saturation in developed economies is restraining the growth of this market.
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The In-house application segment is expected to register the highest CAGR during the forecast period
The surface disinfectants market is classified on the basis of application into in-house application, instrument disinfection, and other applications. The in-house application segment is expected to register highest growth rate during the forecast period. The growth of this market segment is mainly driven by the need to reduce the rising incidence of HAIs.
Liquids segment accounted for largest share in the market
The surface disinfectants market is classified by formulation into liquids, wipes, and sprays. The liquids segment accounted for the largest share of this market segment in 2016. Factors such as the increasing demand for the disinfection of hospital areas and the wide adaptability of these formulations are expected to drive the growth of this market segment.
The quaternary ammonium compounds segment to grow at the fastest rate during the forecast period
By type, the surface disinfectants market is segmented into quaternary ammonium compounds, chlorhexidine gluconate, phenolic compounds, alcohols, aldehydes, and other surface disinfectants. The quaternary ammonium compounds segment is expected to register highest CAGR during the forecast period.
The widespread availability and large consumption of surface disinfectants in hospitals are expected to drive the growth of this market segment in the coming years.
North America accounts for the largest share of the market in 2016
Geographically, the surface disinfectants market is dominated by North America, followed by Europe. The North American region is estimated to account for the largest share in 2017 and the trend is expected to continue during the forecast period. The large share of this regional segment can primarily be attributed to the increasing R&D expenditure in the life science industry, growth in pharmaceutical industries, and the strong presence of industry players in this region.
The primary interviews conducted for this report can be categorized as follows:
• By Company Type - Tier 1 – 35%, Tier 2 – 22% and Tier 3 – 43%
• By Designation – C level – 15%, Director level – 32%, Others – 53%
• By Region – North America - 31%, Europe – 23%, Asia – 21%, Latin America – 12%, Middle East and Africa – 13%
Key players operating in the surface disinfectants market include 3M Company (U.S.), Cantel Medical Corporation (U.S.), Johnson & Johnson (U.S.), Procter & Gamble (U.S.), Reckitt Benckiser Group plc. (U.K.), The Clorox Company (U.S.), Sealed Air Corporation (U.S.). Steris Corporation (U.S.), and Ecolab (U.S.).
Study Coverage:
The report analyses the surface disinfectants market by type, formulation, applications, end user, and regions. Apart from comprehensive geographic and product analysis and market sizing, the report also provides the competitive landscape that covers the growth strategies adopted by industry players over the last three years. In addition, the report analyses developments and strategies adopted by key players to maintain and increase their shares in the market. The above-mentioned market research data, market size, and forecast of the future trends will help key market players and new entrants to make the necessary decisions to be successful in the market.
Benefits of Buying this Report:
This report will enable both established firms as well as new entrants/smaller firms gauge the pulse of the market, which in turn will help these firms garner greater market shares. Firms purchasing the report can use any one or a combination of the five strategies mentioned below to strengthen their market shares.
The report provides insights on the following strategies:
• Market Penetration: The report analyzes the surface disinfectants market by type, formulation, application, and end user.
• Competitive Assessment: In-depth assessment of the market strategies, and geographic and business segments of the leading players in the surface disinfectants market.
• Product Development/Innovation: Detailed insights on the upcoming technologies, R&D activities, and product launches in the market
• Market Development: Comprehensive information about emerging markets. This report analyzes the market for various surface disinfectants product across geographies.
• Market Diversification: Exhaustive information about new products, untapped geographies, and recent developments in the surface disinfectants market.
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