Global Surface Disinfectant Market: Snapshot
The global surface disinfectant market is estimated to grow at a healthy pace in the coming few years. The increasing number of products and the expansion of the application base are projected to ensure the growth of the market in the coming few years. The rise in the awareness among consumers regarding the importance of hygiene and the strict regulations for cleanliness are projected to support the development of the overall market in the next few years. Moreover, the rise in the demand for preventing the breeding of gums and the improving level of education, particularly in emerging economies are likely to accelerate the growth in the near future. Thanks to these factors, the market is likely to witness a promising growth in the next few years.
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Rise in Number of Chronic Diseases to Enhance Market Growth
In 2016, the global market for surface disinfectant stood at US$0.8 bn and is projected to reach US$1.7 bn by the end of 2024. Furthermore, the market is estimated to exhibit a promising 10.40% CAGR between 2016 and 2024.
The rise in the number of surgical procedures is one of the major aspects that is projected to encourage the growth of the global surface disinfectant market over the forecast period. The increasing prevalence of chronic diseases and the rising geriatric population are estimated to support the development of the market in the coming few years. In addition to this, the development of new products and innovations in this field are predicted to ensure the rapid development of the market in the next few years. On the flip side, the rising concerns related to the disinfection and sterilization of several advanced medical instruments are expected to restrict the market growth in the near future. Nonetheless, the advent of new compositions to overcome the bacterial resistance for the disinfectants is estimated to provide growth opportunities in the near future.
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Asia Pacific to Witness High Growth in Coming Few Years
On the basis of geography, the surface disinfectant market has been classified into five segments, including Latin America, Europe, Asia Pacific, North America, and the Middle East and Africa. The Asia Pacific market is anticipated to hold a key share of the global surface disinfectant market and maintain its leading position in the coming years. The rapid development of the construction sector and the rising disposable income of consumers are likely to encourage the growth of this region in the near future. Also, the Middle East and Africa is projected to remain in the second position over the forecast period; whereas, North America and Europe are likely to rise at a steady rate in the next few years.
The global market for surface disinfectant is considered as a fragmented market with a huge number of players engaged across the globe. The lucrative opportunities in the market are expected to attract a large number of players, which is estimated to support the development of the market and enhance the competitive scenario of the market in the near future. The increasing focus of the players on innovations and developments, which is anticipated to support the market growth over the forecast period. The key players in the surface disinfectant market across the globe are 3M Company, DuPont, Procter & Gamble, Henry Schein, Kimberly-Clark, and Johnson & Johnson Services Inc.
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