LONDON--(BUSINESS WIRE)--Technavio market research analysts forecast the global antiseptic and disinfectant products market to grow at a CAGR of more than 7% and 6%, respectively during the forecast period, according to their latest report.
The market study covers the present scenario and growth prospects of the global antiseptic and disinfectant products market for 2017-2021. The report also lists domestic users, commercial users, and healthcare providers, as the three major end-user segments for the market. The healthcare providers segment accounted for around 46% of the market share in 2016, followed by the commercial and domestic users.
“Increased awareness about the need to maintain personal hygiene and hygienic surroundings to prevent and control the spread of disease has been instrumental in promoting the growth of the market. There have been various campaigns by vendors, social media, and government agencies to educate individuals about hygiene, which has positively impacted the consumption of antiseptic and disinfectant products,” says Amber Chourasia, a lead analyst at Technavio for health and wellness research.
Looking for additional research on this report? Request a free sample report
Technavio’s sample reports are free of charge and contain multiple sections of the report including the market size and forecast, drivers, challenges, trends, and more.
Technavio analysts highlight the following three market drivers that are contributing to the growth of the global antiseptic and disinfectant products market:
- Growing disposable income and healthcare expenditure
- Outbreak of life threatening diseases
- Increased number of HAIs
Growing disposable income and healthcare expenditure
The growth in per capita income has increased the disposable income and the health spending. Health spending includes the expenditure towards the prevention of diseases and the spending on treatment. In the prevention of diseases, sanitation and cleanliness are the major parts, which include the use of antiseptic and disinfectant products.
The increased health spending of people is resulting in an increase in consumption of the antiseptic and disinfectant products. The rising consumption of these products is increasing the demand for antiseptic and disinfectant products, thus drawing the attention of manufacturers and suppliers to bridge the expanding supply-demand gap across the global market.
Outbreak of life threatening diseases
An outbreak disease can be a sudden expansion of the disease in a specific season of the year or a geographical region. During recent years, the outbreak of various diseases has drawn attention to increased hygiene, majorly by the food service providers such as hotels and restaurants to prevent these diseases.
“People are adapting to a higher level of hygiene in their daily lives, which is impacting the growth of the domestic end-users. This is increasing the consumption of the antiseptic and disinfectant products and creating a direct demand for these products in the global market,” says Amber.
Increased number of HAIs
In modern healthcare facilities, various instruments and devices are used for the treatment of diseases, which can lead to the incidence of hospital acquired infections or HAIs. Due to the higher risk of HAIs, many preventive measures are taken to avoid them.
These preventive measures include an increased amount of sanitation and cleanliness, which translates into increased consumption of antiseptic and disinfectant products in all end-user segments. Thus, the higher consumption of disinfectant products is creating further demand and is a driving factor influencing growth of the global market.
Browse Related Reports:
- Global Peracetic Acid Market 2017-2021
- Global Sanitizer Market 2017-2021
- Global Embryo Culture Media Market 2017-2021
Become a Technavio Insights member and access all three of these reports for a fraction of their original cost. As a Technavio Insights member, you will have immediate access to new reports as they’re published in addition to all 6,000+ existing reports covering segments like home, kitchen and large appliances, lab equipment, and outdoor gear. This subscription nets you thousands in savings, while staying connected to Technavio’s constant transforming research library, helping you make informed business decisions more efficiently.
Technavio is a leading global technology research and advisory company. The company develops over 2000 pieces of research every year, covering more than 500 technologies across 80 countries. Technavio has about 300 analysts globally who specialize in customized consulting and business research assignments across the latest leading edge technologies.
Technavio analysts employ primary as well as secondary research techniques to ascertain the size and vendor landscape in a range of markets. Analysts obtain information using a combination of bottom-up and top-down approaches, besides using in-house market modeling tools and proprietary databases. They corroborate this data with the data obtained from various market participants and stakeholders across the value chain, including vendors, service providers, distributors, re-sellers, and end-users.
If you are interested in more information, please contact our media team at email@example.com.