CHICAGO, July 22, 2019 /PRNewswire/ -- According to the new market research report "Surface Disinfectant Market by Composition (Quaternary Ammonium, Alcohols, Chlorine, Hydrogen Peroxide), Type (Liquids, Sprays, Wipes), Application (In-house, Instrument), End User (Hospital, Diagnostic, Research Labs) - Global Forecast to 2024", published by MarketsandMarkets™, the global Surface Disinfectants Market is projected to reach USD 1,252 million by 2024 from USD 837 million in 2019, at a CAGR of 8.4% from 2019 to 2024.
The growth of this market is majorly driven by the increasing prevalence of hospital-acquired infections (HAIs) globally, presence of stringent regulations for the use of surface disinfectants (in hospitals, diagnostic laboratories, pharmaceutical & biotechnology companies, and research laboratories), and advancements in surface disinfectants.
Alcohols are expected to dominate the surface disinfectants devices market in 2019.
On the basis of composition, the Surface Disinfectants Market is segmented into alcohols, chlorine compounds, quaternary ammonium compounds, hydrogen peroxide, peracetic acid, and other compositions. In 2019, the alcohols segment is expected to account for the largest market share. The high use of alcohols on hard surfaces in hospitals and laboratories is driving the growth of this segment. Other segments, such as hydrogen peroxide and peracetic acid are expected to have higher growth rates due to their growing acceptance in surface disinfectant formulations.
Liquids are expected to dominate the surface disinfectants devices market in 2019.
On the basis of type, the Surface Disinfectants Market is segmented into liquids, wipes, and sprays. The liquids segment is expected to account for the largest market share in 2019. This can primarily be attributed to the wide usage of these disinfectants, especially in emerging and underdeveloped countries, due to their low cost.
The hospital settings segment is expected to dominate the Surface Disinfectants Market in 2019.
By end user, the Surface Disinfectants Market is segmented into hospital settings, diagnostic laboratories, pharmaceutical & biotechnology companies, and research laboratories. In 2019, hospital settings are expected to account for the largest share of the market. The large share of this segment can be attributed to factors, such as the high prevalence of infections in hospitals, the increase in hospital reimbursements for surgeries performed in hospitals, and growing patient volume in these healthcare settings.
The in-house surfaces segment to dominate the Surface Disinfectants Market in 2019.
The Surface Disinfectants Market, by application, is segmented into in-house surfaces, instrument disinfection, and other applications. In 2019, the in-house surfaces segment is expected to account for the largest share of the Surface Disinfectants Market. The large share of this segment can primarily be attributed to the large volume of disinfectants required to clean in-house surfaces in healthcare settings.
North America to command the largest share of the Surface Disinfectants Market in 2019.
Based on region, the Surface Disinfectant Market is segmented into North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa. In 2019, North America is projected to command the largest share of the Surface Disinfectants Market. The large share of this market segment can be attributed majorly to the high prevalence of HAIs and the presence of stringent infection control regulations in the region.
The major players operating in this market are 3M Company (US), Procter & Gamble (US), Reckitt Benckiser Group plc. (UK), Clorox Company (US), and Ecolab (US).
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