Opportunities for manufacturers in the antiseptic and disinfectant market are projected to primarily arrive from healthcare service providers, estimated to drive sales tantamount to ~US$ 4 Bn by 2020.
Opportunities for manufacturers in the antiseptic and disinfectant market are projected to primarily arrive from healthcare service providers, estimated to drive sales tantamount to ~US$ 4 Bn by 2020. A rapid increase in budget allocation for sanitation products is being witnessed in the healthcare industry, given the sharp increase in the outbreak of viral infections.
“The application of these products as decontaminants in detergents, coupled with the growing consciousness among individuals regarding personal hygiene, is serving as a thrust to the growth of the antiseptic and disinfectant market from the domestic sector,” finds Fact.MR Significant opportunities in the hospitality industry also await manufacturers, as rise in the discretionary spending of consumers is creating commercial avenues for hotels, resorts, and restaurants. Progressive growth of the hospitality industry is creating horizontal market opportunities for the antiseptic and disinfectant market.
Among healthcare service providers, commercial users, and domestic users, it is recommended for market players to look at healthcare service providers as crucial end users. Manufacturers can establish supply partnerships with doctors, surgeons, physicians, and other medical professionals to gain long-term product supply opportunities.
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Wide Range of Product Availability to Improve Market Uptake
Amidst concerns about the growing disinfectant-tolerance of organisms, the antiseptic and disinfectant market is tracing an above-average growth trail. The availability of antiseptics and disinfectants in various formats - sprays, ointments, wipes, gels, and liquids - is increasing the convenience of use for end users. “Besides this, there is a provision for fast-track FDA approval in North America for medical products that address an unmet medical need, intended to treat life-threating diseases, which is leading to the development of advanced products in the antiseptic and disinfectant market,” states Fact.MR However, the threat of disposable medical devices, albeit of a moderate level, could hamper the steady growth pace of the antiseptic and disinfectant market during the forecast period (2020 - 2026).
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Superior Healthcare Infrastructure of North America to Help Region’s Growth
High health consciousness among individuals of North America and surge in lawsuits against hospital-acquired infections (HAIs) are prime drivers of the antiseptic and disinfectant market in the region. Central authorities operating in the region are also amplifying efforts towards ensuring the safety of citizens. For instance, The Centers for Disease Control (CDC) has recommended the use of alcohol-based hand wash and soap products as primary and secondary means of sterilisation, respectively. Given the technological prowess of professionals in North America, the convergence of technology and the healthcare industry is paving the way for advanced medical equipment, which will require frequent reprocessing to prevent the spread of infection.
However, the antiseptic and disinfectant market is saturated in developed regions, which is instigating market players to benefit from lucrative opportunities present in developing regions. Advancements in healthcare services and changing perceptions regarding personal hygiene in developing countries of Asia Pacific are projected to increase the infiltration rate of antiseptics and disinfectants in the region. On the backdrop of this, the market in Asia Pacific will witness exponential growth in the global antiseptic and disinfectant market during the forecast period.
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