COVID-19 Impact and Recovery Analysis- Global Surface Disinfectants Market 2020-2024| Increasing Number of Health Issues Because of HAI to Boost Market Growth | Technavio
We expect the impact to be significant in the first quarter but gradually lessen in subsequent quarters with a limited impact on the full-year economic growth.
The global surface disinfectants market size is expected to grow by USD 387.99 million during 2020-2024. The report also provides the market impact and new opportunities created due to the COVID-19 pandemic. We expect the impact to be significant in the first quarter but gradually lessen in subsequent quarters – with a limited impact on the full-year economic growth.
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Technavio has announced its latest market research report titled Global Surface Disinfectants Market 2020-2024 (Graphic: Business Wire)
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HAI, also known as nosocomial infection, is one of the key factors driving the global surface disinfectant market. These infections are transmitted in hospitals from infected patients, blood spills while collecting blood samples, or while cleaning feces (of patients) by professional cleaners. Fungal pathogens, viruses, and bacteria are the main causes of HAI transmission. Some of the common types of HAI include urinary tract infections, lung infections, wound infections, and surgical-site infections. Thus, hospitals and healthcare institutions emphasize cleanliness and disinfection to help prevent infections. The increasing focus on protecting patients from HAI has led to a rise in the demand for surface disinfectants.
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The recent breakout of the coronavirus (COVID-19) in countries across the world, has increased the demand for surface disinfectants to clean and disinfect hard surfaces such as tables, doorknobs, light switches, and countertops, as well as to sanitize soft surfaces such as carpeted floor, rugs, and drapes. With the increase in health spending and the rising number of COVID-19 cases, the demand for surface disinfectants is expected to grow significantly during the forecast period.
As per Technavio, increasing investments in the healthcare industry will have a positive impact on the market and contribute to its growth significantly over the forecast period. This research report also analyzes other significant trends and market drivers that will influence market growth over 2020-2024.
Surface Disinfectants Market: Increasing Investments in the Healthcare Industry
Factors such as the increasing aging population across the world, economic growth in the developing economies, and advances in medical treatment are expected to drive investments in healthcare systems across the globe. This rise in healthcare investments will promote the setting up of hospitals, which in turn, will accelerate the consumption of surface disinfectants. The increasing expenditure on healthcare systems is hence, expected to fuel the demand for surface disinfectants.
“Factors such as the stringent regulations for ensuring disinfection in hospitals, and the prevalence of diseases such as cancer, diabetes, and heart ailments will have a significant impact on the growth of the surface disinfectants market value during the forecast period,” says a senior analyst at Technavio.
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Surface Disinfectants Market: Segmentation Analysis
This market research report segments the surface disinfectants market by type (liquids, sprays, and wipes), product (hypochlorite, quaternary ammonium compounds, hydrogen peroxide, chlorhexidine gluconate, and others), and geography (North America, APAC, Europe, South America, and MEA).
The North American region led the surface disinfectants market in 2019, followed by APAC, Europe, South America, and MEA respectively. During the forecast period, the North American region is expected to register the highest incremental growth due to factors such as the presence of a large number of hospitals and the increased awareness about self-hygiene among people.
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Some of the key topics covered in the report include:
Market Drivers
Market Challenges
Market Trends
Vendor Landscape
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
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