Harrisburg, NC -- (SBWIRE) -- 10/16/2020 -- Disinfectants Global Market Report 2020-30: Covid 19 Growth And Change Including: 1) By Type: Quaternary Ammonium Compounds; Peracetic Acid; Chlorine Compounds; Hydrogen Peroxide; Alcohols & Aldehyde Products; Others 2) By End User: Hospitals; Clinics; Domestic Users; Others Covering: 3M Company; Johnson & Johnson; Reckitt Benckiser Group PLC; Bio-Cide International Inc.; Cardinal Health
Major players in the disinfectants market are 3M Company, Johnson & Johnson, Reckitt Benckiser Group PLC, Bio-Cide International Inc., Cardinal Health, Steris Corporation, Procter & Gamble, Kimberly-Clark Corporation, and Novartis AG.
The global disinfectants market is expected to grow from $0.66 billion in 2019 to 0.78 billion in 2020 at a compound annual growth rate (CAGR) of 17.2%. The markable growth is mainly due to the COVID-19 outbreak and the measures to contain it. Coronavirus infection is transmitted in most instances through contact with contaminated surfaces/objects. The virus gets easily inactivated by chemical disinfectants, increasing the demand has significantly. The market is then expected to stabilize and reach $1.04 billion in 2023 at CAGR of 10.02%.
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North America was the largest region in the disinfectants market in 2019. Asia-Pacific is expected to be the fastest growing regions in the forecast period.
Disinfectant service providers are using the drone to spray the disinfectant solutions without using humans to reduce the spread of infection from the contaminated area. In China, several drone manufacturer has modified their agricultural drone models, which were originally intended to spray crops with pesticides, to spray disinfectant. Over large areas can be disinfected with ease and effective way.
A saturated market of developed economies is expected to limit the growth of the disinfectant market. In recent years, the developed countries are using the same quantity of disinfectant solutions as previous years. Due to the stabilized consumption, the growth rate in developed markets is expected to decline when compared to the growth of disinfectants in the emerging market. Inadequate change in the market hampers the disinfectant market.
In March 2019, Innovative chemical products acquired benefect for an undisclosed amount. The acquisition is expected to strength the ICP BSG's family. Benefect is founded in year 2006 and leading supplier of hospital disinfectant using essential oils from plants.
Rising occurrence of hospital-acquired infections increased spending on disinfectant solutions globally and this factor contributed to the global disinfectant market's growth. Patients some times get cured in hospitals but however get infected by other diseases in hospitals itself, this is called Hospital-acquired infections (HAI). According to the world health organization (WHO), in Europe, nearly 41.31 lakhs patients are infected by approximately 45.441 lakhs episodes of healthcare-associated infections every year. The increase in safety towards patients in hospitals has boosted the spending on disinfecting solutions which resulted in the growth of the disinfectant market.
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Influence of the Disinfectants market report:
-Comprehensive assessment of all opportunities and risk in the Disinfectants market.
-Disinfectants market recent innovations and major events.
-Detailed study of business strategies for growth of the Disinfectants market-leading players.
-Conclusive study about the growth plot of Disinfectants market for forthcoming years.
-In-depth understanding of Disinfectants market-particular drivers, constraints and major micro markets.
-Favourable impression inside vital technological and market latest trends striking the Disinfectants market.
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What are the market factors that are explained in the report?
-Key Strategic Developments: The study also includes the key strategic developments of the market, comprising R&D, new product launch, M&A, agreements, collaborations, partnerships, joint ventures, and regional growth of the leading competitors operating in the market on a global and regional scale.
-Key Market Features: The report evaluates key market features, including revenue, price, capacity, capacity utilization rate, gross, production, production rate, consumption, import/export, supply/demand, cost, market share, CAGR, and gross margin. In addition, the study offers a comprehensive study of the key market dynamics and their latest trends, along with pertinent market segments and sub-segments.
-Analytical Tools: The Global Disinfectants Market report includes the accurately studied and assessed data of the key industry players and their scope in the market by means of a number of analytical tools. The analytical tools such as Porter's five forces analysis, SWOT analysis, feasibility study, and investment return analysis have been used to analyze the growth of the key players operating in the market.
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