Market Research Report
Antibacterial Glass Market Size, Share & Trends Analysis Report By Active Ingredient (Silver), By Application (Hospitals, Military, Residential, Food & Beverage), By Region, And Segment Forecasts, 2020 - 2027
|Published by||Grand View Research, Inc.||Product code||948035|
|Published||Content info||112 Pages
Delivery time: 2-3 business days
|Antibacterial Glass Market Size, Share & Trends Analysis Report By Active Ingredient (Silver), By Application (Hospitals, Military, Residential, Food & Beverage), By Region, And Segment Forecasts, 2020 - 2027|
|Published: June 18, 2020||Content info: 112 Pages||
Antibacterial Glass Market Growth & Trends
The global antibacterial glass market size is expected to reach USD 370.5 million by 2027, according to a new report by Grand View Research, Inc., expanding at a CAGR of 7.6% from 2020 to 2027. The market is expected to be mainly driven by rising product demand from healthcare facilities, including hospitals, clinics, laboratories, and pharmacies.
The outbreak of the COVID-19 pandemic in the first quarter of 2020 has significantly impacted the demand for various healthcare infrastructure related products, such as glass and metal sheets. COVID-19 is a contagious disease affecting the respiratory system in humans. Owing to the disease outbreak, numerous countries have observed a negative impact on their economies. Therefore, various healthcare facilities are expected to use antibacterial glass to prevent the spread of bacterial infections over the long term.
Increasing number of hospital acquired infections (HAIs) is one of the key factors for the growth of the market. As per the survey carried by the Centers for Disease Control and Prevention (CDC), nearly 1.7 million patients suffer from HAIs every year in U.S. Out of the total infections, around 22% of infections are surgical site infections.
Poor hand hygiene and bacterial growth on surfaces, such as glass and metal, are responsible for HAIs. Infection control can be cost effective and nearly one-third of HAIs are preventable using various methods. One of them involves the use of antibacterial glass products during the construction of hospitals. In addition, these products can be used in isolation rooms, hematology departments, laboratories, maternity wards, burn units, and intensive care units (ICUs).
Rising spending on healthcare support and systems is expected to drive product application in the construction of hospitals. As per the recent report published by the World Health Organization, global healthcare spending has increased from USD 7.6 trillion in 2016 to USD 7.8 trillion in 2017. Healthcare spending has witnessed faster growth compared to economic growth in the recent past. Between 2000 and 2017, global healthcare spending increased by 3.9% per year compared to the global economic growth of 3%.
Antibacterial Glass Market Report Highlights
Silver was the largest active ingredient segment and accounted for a market share of 90.4% in 2019. This is attributed to its ability to kill nearly 99.9% bacterial on glass surface
The hospitals application segment emerged as the largest segment in 2019 and is expected to witness the fastest growth from 2020 to 2027. The growth of the segment is attributed to rising number of hospitals acquired infections (HAIs) globally
Europe was the largest regional market with 41.1% share and is likely to witness significant growth over the forecast period. Stringent regulations regarding hygiene in healthcare systems and food and beverage companies and growing geriatric population are some of the key factors driving the regional market.