Rapid increase in number of isolation facilities to treat COVID-19 patients will stimulate the demand for clinical grade disinfectants.
ROCKVILLE, MD / ACCESSWIRE / May 20, 2020 / Thousands of private and government medical facilities worldwide are generating an upheaval in demand for clinical grade disinfectants amid COVID-19 outbreak. Safety of healthcare providers and enormous demand for disinfecting hospitals and clinics are critical growth levers of the market. According to Fact.MR's analysts, the global clinical grade disinfectant market will grow exponentially through the end of 2020.
Medical facilities' escalating expenditure on hygiene products will complement the market growth through the duration of forecast period (2020-2030). The year-on-year growth projection for clinical grade disinfectant market for 2020 is nearly 23% compared to the previous year of 2019. Countries such as the United States, Italy, France, Germany, and India will be the growth epicenters through the second quarter.
"Inorganic growth strategies such as partnerships among regional and top players will bode well for market through 2020," concludes Fact.MR.
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Key Takeaways of Clinical Grade Disinfectant Market Study
- Greater availability of alcohols & aldehydes will propel their consumption with the segment capturing over 30% share in the overall market stack.
- Direct sales channel will remain preferred method of distribution over the forecast period.
- South Asia will witness double-digit CAGR through 2030 owing to proliferation of medical facilities in the region.
- The clinical grade disinfectant market in Europe will generate over 1/3rd of total demand during the projection period.
- Past decade witnessed an increase in number of R&D centers across the globe which is a major contributor to market growth.
- Rise in number of highly contagious viral diseases such as H1N1, and COVID-19 will bolster the growth of clinical grade disinfectant market.
- Relatively low manufacturing cost of alcohol & aldehydes will boost the production of this segment in terms of formulation.
- Stringent government policies on disinfecting and sterilizing medical facilities will fuel the demand for clinical grade disinfectants through 2030.
- The uncertainty surrounding the future of pandemic and post-pandemic scenario will lead to fluctuation in market growth.
- Emerging players in the clinical grade disinfectant market will face challenges in their efforts aimed at expanding revenue share due to consolidated competitive landscape.
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Anticipated Impact of COVID-19 on Clinical Grade Disinfectant Market
In the wake of COVID-19 outbreak, healthcare facilities are driving the consumption of clinical grade disinfectants. As hospitals continue to be overwhelmed by COVID-19 patients, the demand for clinical grade disinfectants is projected to soar through the second quarter. Supply chain disruption and limited production capacity remain major challenges spurred by the pandemic. Therefore, major stakeholders continue to address these challenges through strategies such as partnerships, mergers and acquisitions, and capacity expansion. Further, increased government support for the production of clinical grade disinfectants amid COVID-19 pandemic will complement the market growth in foreseeable future.
Competition Landscape of Clinical Grade Disinfectant Market
The global clinical grade disinfectant market is highly consolidated in nature with top players occupying over 60% market share. Some of the key companies in the global clinical grade disinfectant market that are profiled in this Fact.MR study include but are not limited to, Lonza Group, BASF SE, Dow Chemical, Ecolab, Inc., Clariant AG, Microban International Limited, Milliken & Company, Solvay SA, Lanxess AG, DuPont, and Stepan Company.
While leading market players continue to look for ways for meeting the rapid surge in demand, emerging players are joining hands in the fight against COVID-19 as well. Hence, the clinical grade disinfectant market will witness the entry of new players aimed at leveraging the unprecedented demand. Moreover, established players such as Dow Chemical are expanding their production capacity. The company is now capable of producing 200 tons of isopropyl alcohol per week.
About the Report
This 170-page study offers in-depth commentary on the clinical grade disinfectant market. The study provides compelling insights on the clinical grade disinfectant market on the basis of formulation (quaternary ammonium compounds, chlorine compounds, alcoholds & aldehydes, and phenolic compounds), end user (hospitals, clinics, pathology labs, and research institutes), and sales channel (direct sales, online sales channel, and specialty stores) across seven regions (North America, Latin America, Europe, East Asia, South Asia, Oceania, and Middle East & Africa).
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