Market Research Report
Bio Decontamination Market by Product (Equipment, Service, Consumables), Agent (Hydrogen Peroxide, Chlorine, Nitrogen, Peracetic Acid), Type (Room, Chamber), End User (Pharma, Biotech, Medical Devices, Hospital, Life Science) - Global Forecast to 2024
|Published by||MarketsandMarkets||Product code||869605|
|Published||Content info||111 Pages
Delivery time: 1-2 business days
|Bio Decontamination Market by Product (Equipment, Service, Consumables), Agent (Hydrogen Peroxide, Chlorine, Nitrogen, Peracetic Acid), Type (Room, Chamber), End User (Pharma, Biotech, Medical Devices, Hospital, Life Science) - Global Forecast to 2024|
|Published: June 13, 2019||Content info: 111 Pages||
"Biodecontamination market to register a CAGR of 6.1% from 2019 to 2024."
The biodecontamination market is projected to reach USD 175 million by 2024 from USD 130 million in 2019, at a CAGR of 6.1% from 2019 to 2024. The growth of the market is largely driven by the rising incidence of hospital-acquired infections (HAIs), growth in the pharmaceutical & biotechnology industries, and increasing outsourcing of biodecontamination services. Emerging economies are expected to provide a wide range of growth opportunities for players in the market.
By product & service, the biodecontamination market is segmented into equipment, consumables, and services. In 2018, the equipment segment accounted for the largest share of the market. Services form the fastest-growing segment due to the low cost of services and low capital expenditure required, as compared to purchasing equipment & consumables.
On the basis of agent type, the biodecontamination market is segmented into hydrogen peroxide, nitrogen dioxide, chlorine dioxide, and peracetic acid. In 2018, the hydrogen peroxide segment accounted for the largest share of the biodecontamination market. This segment is also expected to grow at the highest CAGR. Its material compatibility and safety are the major factors contributing to its dominance in the biodecontamination market.
On the basis of type, the biodecontamination market is segmented into room and chamber biodecontamination. Chamber biodecontamination accounted for the largest share of the market in 2018 and is expected to show the highest growth during the forecast period. This can be attributed to the lower power consumption, smaller footprint, high adaptation capabilities, and cost-effectiveness of chamber decontamination.
North America, which includes the US, & Canada, accounted for the largest share of the biodecontamination market in 2018. The growth in this market is primarily driven by the growing demand for biodecontamination from the healthcare industry to minimize the occurrence of HAIs, increasing healthcare expenditure, improved healthcare infrastructure, and the presence of major players in the region.
Breakdown of supply-side primary interviews, by company type, designation, and region:
The major players operating in this market are: STERIS (US), Ecolab, Inc. (US), TOMI Environmental Solutions, Inc. (US), JCE Biotechnology (France), Fedegari Autoclavi SpA (Italy), Zhejiang Tailin Bioengineering Co., Ltd. (China), Noxilizer, Inc. (US), Howorth Air Technology Limited (UK), Wenzhou Weike Biological Laboratory Equipment Co., Ltd. (China), ClorDiSys Solutions Inc. (US), and Amira S.r.l. (Italy). Product launches, expansions, agreements, and acquisitions are the key growth strategies followed by most players in this market.
This report studies the biodecontamination market based on product & service, agent type, end user, and region. The report also analyzes factors (such as drivers, restraints, and opportunities) affecting market growth. It evaluates the opportunities and challenges in the market for stakeholders and provides details of the competitive landscape for market leaders. The report also studies micromarkets with respect to their growth trends, prospects, and contributions to the total biodecontamination market. The report forecasts the revenue of the market segments with respect to four major regions.
The report provides insights on the following pointers:
*Details on MarketsandMarkets view, Introduction, Product & Services, Strategy, & Analyst Insights, New Developments might not be captured in case of unlisted companies.