Surface Disinfectant Market | Ongoing Trends and Recent Developments | Major Key Players like 3M Company (US), Procter & Gamble (US), Reckitt Benckiser Group plc. (UK)

The growth of Surface Disinfectant 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

What the Market Looks Like?

Predicted to grow at a CAGR of 8.4% during the forecast period, the Global Surface Disinfectant Market is estimated to reach USD 1,252 million by the end of 2024. The Asia Pacific to grow at the highest growth rate during the forecast period.

On the basis of composition, the Surface Disinfectant 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.

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On the basis of type, the Surface Disinfectant 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.

By end user, the Surface Disinfectant 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.

What Drives the Market?

The growth of the global market for Surface Disinfectant is primarily influenced by the following factors:

• Stringent Regulations for the Use of Surface Disinfectants
• High Prevalence of Hais
• Technological Improvements in Disinfectants
• Growing Healthcare Industry in Emerging Economies

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Geographical growth scenario of Surface Disinfectant Market:

Based on the region, the overall 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.

Leading market players and strategies adopted:

The prominent players in the Surface Disinfectant Market include 3M Company (US), Procter and Gamble (US), Reckitt Benckiser Group plc. (UK), Clorox Company (US), Ecolab (US), Cantel Medical Corporation (US), Johnson & Johnson (US), Diversey, Inc. (US), STERIS Corporation (US), Whiteley Corporation (Australia), CarrollCLEAN (US), Metrex Research (US), and GOJO Industries (US).

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