Increasing use of Hydrogen Peroxide (H2O2) for Decontamination Applications to Boost the Demand for Hydrogen Peroxide Measurement Devices, Reaching US$ 133.3 Mn by 2024: Transparency Market Research

Mar 31, 2016, 11:30 ET from Transparency Market Research

ALBANY, New York, March 31, 2016 /PRNewswire/ --

According to the latest market report published by Transparency Market Research entitled "H2O2 (Hydrogen Peroxide) Measurement Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2016 - 2024," the H2O2 (hereafter, hydrogen peroxide) market  was worth US$ 81.4 Mn in 2015 and is expected to reach US$ 133.3 Mn by 2024, at a CAGR of 5.7% from 2016 to 2024. Similarly, in terms of volume, hydrogen peroxide measurement devices accounted for 88.01 thousand units and are expected to reach 137.64 thousand units, at a CAGR of 5.1% from 2016 to 2024. Europe was the largest market for hydrogen peroxide measurement devices in 2015. Growth in the region is expected to be driven by the presence of an established healthcare network, which is seeing increasing adoption of hydrogen peroxide vapor (HPV) for decontamination, pushing up the demand for hydrogen peroxide measurement devices.

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Hydrogen peroxide conventionally has been predominantly used for bleaching and water treatment purposes, especially in the wood, pulp, and paper industry; however, with a rise in the use of hydrogen peroxide in vaporized form for decontamination, especially in the healthcare industry, the demand for hydrogen peroxide measurement devices has witnessed a notable surge in the recent years. Furthermore, the eco-friendly residues of hydrogen peroxide, water (H2O) and Oxygen (O2) have propelled its adoption in various applications in the healthcare sector, such as laboratories, intensive care units, and pharmacies. However, the excess presence of hydrogen peroxide vapors (HPV) at levels greater than 1 ppm, is hazardous to life and can result in headache, nausea, irritation, etc. Thus, to prevent the exposure of living things to excess presence of HPV, hydrogen peroxide measurement devices are used. These devices monitor the complete decontamination process and provide measurements of HPV content in the fumigated rooms. Alongside this, hydrogen peroxide measurement devices play a vital role in process and safety measurement. For instance, hydrogen peroxide measurement devices find applications in potable and waste water treatment plants. The stringency of government regulations, which emphasize the content of the concentration of industry effluents before disposal, is the key factor driving the adoption of hydrogen peroxide measurement devices in water treatment plants. Furthermore, the rise concerns about water pollution globally due to the high concentration of chemicals in industry effluents has fuelled the adoption of hydrogen peroxide measurement devices, which are used to measure the content of dissolved hydrogen peroxide.

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The report provides a cross-segment analysis of the hydrogen peroxide measurement devices market, on the basis of product type and applications. Segmentation on the basis of product type includes H2O2 sensors, H2O2 detectors, and transmitters. Hydrogen peroxide detectors are expected to emerge as the fastest-growing segment over the forecast period. The integration of detectors and transmitters as well as increasing multi-point monitoring for hydrogen peroxide are expected to result in the swifter growth of the market for detectors in the near term.

The demand for hydrogen peroxide measurement devices is expected to emerge largely from pharmaceutical and healthcare applications. The frequent requirement for effective decontamination along with increasing awareness of the need to improve indoor air quality is expected to boost the growth of the market for hydrogen peroxide measurement devices. In addition, the rising use of HPV for decontamination in the food & beverage industry, HVAC systems, and freeze dryers is expected to result in increased demand for hydrogen peroxide measurement devices in the near term. In 2015, the pharmaceutical and healthcare segment shared the largest revenues, contributing to nearly 40% of the overall hydrogen peroxide measurement market's revenue. 

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Geographically, Europe is the largest market for hydrogen peroxide measurement devices, and is expected to continue dominating the market over the forecast period. The swift adoption of HPV decontamination systems along with the significant presence of key market players is anticipated to pave the market's growth. In 2015, Europe accounted for approximately 34% of global revenue. Major manufacturers of hydrogen peroxide measurement devices are aiming toward the development of hydrogen peroxide sensors, which are more sensitive and accurate in detecting HPV and require less maintenance over the life cycle. This is anticipated to result in increases in the price for hydrogen peroxide measurement devices, especially hydrogen peroxide sensors. Furthermore, with the integration of technology into detectors and transmitters, the prices of hydrogen peroxide detectors are expected to increase in the short term and stabilize in the long term. The key players are focusing on increasing their global footprint and improving after-sales customer experience by providing the latest post-sales service platforms. Key players in the hydrogen peroxide measurement market include Dragerwerk AG & Co., Analytical Technology, Inc. (ATI), Interscan Corporation, Picarro Inc., and The Gwent Group. 

The hydrogen peroxide measurement market is segmented as follows. 

Hydrogen Peroxide Measurement Market, by Product Type 

  • H2O2 Sensors
  • H2O2 Detectors
  • Transmitters

Hydrogen Peroxide Measurement Market, by Application 

  • Pharmaceutical
  • Chemical
  • Healthcare
  • Food and Beverage
  • Laboratories
  • Animal Farming
  • HVAC Systems
  • Freeze Dryers

Hydrogen Peroxide Measurement Market, by Geography 

  • North America
  • Europe
  • Asia Pacific
  • Middle East and Africa
  • Latin America

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