Povidone Iodine Market - Global Industry Analysis, Size, Share 2023
Iodine is a recognized as a widely used bactericide that has proven to be effective against viruses, protozoans, fungi, and molds. However, iodine causes irritation at the application site. Povidone Iodine overcomes the drawbacks of iodine primarily because the iodine in it is carried in a complex form and as a result the concentration of free iodine in it is very low. Povidone Iodine has applications such as a scrub for pre- and post-surgery skin cleansing; for treating and/or preventing wound or ulcer infections, as well as in cuts and burns. It is also used in deceits ulcers and stasis ulcers for treating infections.
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Povidone Iodine Market: Drivers
High awareness regarding general well-being is driving the healthcare market. Additionally, growth in aging population is likely to boost the healthcare market. Presence of strict government mandates in Europe and North America and a well-developed healthcare industry is expected to help boost the use of povidone iodine during the report’s forecast period. Thus, the growing healthcare industry coupled with the increasing awareness regarding hygiene will likely drive the demand for povidone iodine market over the next few years. However, there are various substitute products available for povidone iodine in the market. Chlorhexidine-alcohol is one of the major substitutes for povidone iodine. Thus, the presence of substitute products may be a factor that may restrain the growth of the povidone iodine market within the forecast period.
Povidone Iodine Market: Region-wise Outlook
From the demand standpoint, North America was the top region in povidone iodine market. U.S. generated the highest demand for Povidone Iodine owing to sizeable demand from the healthcare industry coupled with appreciable demand from the nanomaterials sector. Stringent regulation in Europe regarding healthcare and hygiene are expected to drive the demand for povidone iodine in the near future. European countries such as Germany and the UK were the major consumers of tri-isopropanolamine in this region.
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Rising global population and the expanding base of geriatric persons has been either directly or indirectly helping the growth of the market. This trend is expected to continue until the end of the report’s forecast period. Several countries in Asia Pacific have demonstrated rapid economic growth over the past decade. This trend is projected to only grow stronger through the next few years. The Asia Pacific povidone iodine market was followed by markets in the Rest of the World.
Key players in the povidone iodine Market are H&P Industries, Inc.,Glide Chem Private, Medline Indusries Inc and RN Laboratories among others. There are many large and small scale industries present across various geographies.
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