Market Research Report
High Level Disinfection Services Market Size, Share & Trends Analysis Report By Services (In-house, Outsourced), By Compound (Formaldehyde, Glutaraldehyde, Peracetic Acid), By End Use, By Region, And Segment Forecasts, 2021 - 2028
|High Level Disinfection Services Market Size, Share & Trends Analysis Report By Services (In-house, Outsourced), By Compound (Formaldehyde, Glutaraldehyde, Peracetic Acid), By End Use, By Region, And Segment Forecasts, 2021 - 2028|
Published: June 8, 2021
Grand View Research, Inc.
Content info: 90 Pages
Delivery time: 2-10 business days
High Level Disinfection Services Market Growth & Trends
The global high level disinfection services market size is expected to reach USD 45.9 billion by 2028, according to a new report by Grand View Research, Inc. The market is expected to expand at a CAGR of 9.2% from 2021 to 2028. The increasing prevalence of hospital-acquired infection and surgical site infections, the increasing number of surgeries coupled with the rise in the incidence of chronic disorders, and the impact of COVID-19 are the key driving factors for the market.
An increase in the prevalence of HAIs due to a lack of sanitation and preventive measures is a major factor expected to propel market growth over the forecast period. Unclean medical devices are a key source of hospital-acquired infections. According to the report published by CDC in 2017, hospital-acquired infections result in more than 99,000 deaths every year. Also, according to antimicrobe.org, HAP accounts for around 27.00% of all nosocomial infections acquired in medical intensive care units (ICU). Since these products are needed for disinfection and cleaning of various hospital equipment, therefore, these instances are expected to surge the demand for high level disinfectant services.
Furthermore, the sudden outbreak of COVID-19 across the globe is one of the major factors propelling the market growth. According to the Worldometer estimates, as of 26th April 2021, there are total 147,884,279 cases globally. If more people become infected with the coronavirus, there will be a significant need for critical care supplies that will boost the demand for high-level disinfectant services. Furthermore, major players operating in the market are developing HLDs that are effective against COVID-19. For instance, LANXESS developed Rely+On Virkon and Solvay's PROXITANE, which is effective against the coronavirus. Hence, such instances indicate considerable market growth over the forecast period.
High Level Disinfection Services Market Report Highlights
The outsource segment held the largest revenue share in 2020. Several benefits associated with outsourcing such as cost-saving, customized disinfection services and usage of advanced technology is the major factor propelling segment growth
The glutaraldehyde segment held the largest revenue share in 2020 and is expected to witness the fastest growth over the forecast period due to the increasing number of surgeries
The hospitals and clinics segment held the largest revenue share in 2020. The segment growth is majorly driven by the increasing number of hospital-acquired infections and the rising number of people suffering from coronavirus
In Asia Pacific, the market is expected to witness the fastest growth rate over the forecast period owing to the rising prevalence of chronic disorders