Biodecontamination market to register a CAGR of 6.1% from 2019 to 2024
Biodecontamination market to register a CAGR of 6.1% from 2019 to 2024.
The biodecontamination market is projected to reach USD 175 million by 2024 from USD 130 million in 2019, at a CAGR of 6.1% from 2019 to 2024. The growth of the market is largely driven by the rising incidence of hospital-acquired infections (HAIs), growth in the pharmaceutical & biotechnology industries, and increasing outsourcing of biodecontamination services. Emerging economies are expected to provide a wide range of growth opportunities for players in the market.
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Equipment accounted for the major share of the market in 2019.
By product & service, the biodecontamination market is segmented into equipment, consumables, and services.In 2018, the equipment segment accounted for the largest share of the market.
Services form the fastest-growing segment due to the low cost of services and low capital expenditure required, as compared to purchasing equipment & consumables.
Hydrogen peroxide accounted for the largest share of the biodecontamination market in 2019.
On the basis of agent type, the biodecontamination market is segmented into hydrogen peroxide, nitrogen dioxide, chlorine dioxide, and peracetic acid.In 2018, the hydrogen peroxide segment accounted for the largest share of the biodecontamination market.
This segment is also expected to grow at the highest CAGR. Its material compatibility and safety are the major factors contributing to its dominance in the biodecontamination market.
Chamber biodecontamination accounted for the largest share of the biodecontamination market in 2019
On the basis of type, the biodecontamination market is segmented into room and chamber biodecontamination.Chamber biodecontamination accounted for the largest share of the market in 2018 and is expected to show the highest growth during the forecast period.
This can be attributed to the lower power consumption, smaller footprint, high adaptation capabilities, and cost-effectiveness of chamber decontamination.
North America dominated the biodecontamination market in 2019.
North America, which includes the US, & Canada, accounted for the largest share of the biodecontamination market in 2018. The growth in this market is primarily driven by the growing demand for biodecontamination from the healthcare industry to minimize the occurrence of HAIs, increasing healthcare expenditure, improved healthcare infrastructure, and the presence of major players in the region.
Breakdown of supply-side primary interviews, by company type, designation, and region:
• By Company Type: Tier 1 (35%), Tier 2 (45%), and Tier 3 (20%)
• By Designation (Supply Side): C-level (35%), Director-level (45%), and Others (20%)
• By Region: North America (46%), Europe (28%), Asia (19%), and RoW (7%)
The major players operating in this market are STERIS (US), Ecolab, Inc. (US), TOMI Environmental Solutions, Inc. (US), JCE Biotechnology (France), Fedegari Autoclavi SpA (Italy), Zhejiang Tailin Bioengineering Co., Ltd. (China), Noxilizer, Inc. (US), Howorth Air Technology Limited (UK), Wenzhou Weike Biological Laboratory Equipment Co., Ltd. (China), ClorDiSys Solutions Inc. (US), and Amira S.r.l. (Italy). Product launches, expansions, agreements, and acquisitions are the key growth strategies followed by most players in this market.
Research Coverage
This report studies the biodecontamination market based on product & service, agent type, end user, and region.The report also analyzes factors (such as drivers, restraints, and opportunities) affecting market growth.
It evaluates the opportunities and challenges in the market for stakeholders and provides details of the competitive landscape for market leaders.The report also studies micromarkets with respect to their growth trends, prospects, and contributions to the total biodecontamination market.
The report forecasts the revenue of the market segments with respect to four major regions.
Reasons to Buy the Report:
The report provides insights on the following pointers:
• Market Penetration: Comprehensive information on biodecontamination offered by the top 12 players in the biodecontamination market. The report analyzes the biodecontamination market by product & services, type, agent type, end user, and region.
• Market Development: Comprehensive information about lucrative emerging markets. The report analyzes the markets for biodecontamination across key geographic regions.
• Market Diversification: Exhaustive information about new products, untapped geographies, and recent developments
• Competitive Assessment: In-depth assessment of market shares and strategies of the leading players in the biodecontamination market
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