$175 Bn Bio-Decontamination (Equipment, Service, Consumables) Market - Global Forecast to 2024 - ResearchAndMarkets.com

DUBLIN--()--The "Bio Decontamination Market by Product (Equipment, Service, Consumables), Agent (Hydrogen Peroxide, Chlorine, Nitrogen, Peracetic Acid), Type, End User (Pharma, Biotech, Medical Devices, Hospital, Life Science) - Global Forecast to 2024" report has been added to ResearchAndMarkets.com's offering.

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 bio-decontamination services. Emerging economies are expected to provide a wide range of growth opportunities for players in the market.

Equipment accounted for the major share of the market in 2019

By product & service, the bio-decontamination 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.

Hydrogen peroxide accounted for the largest share of the bio-decontamination market in 2019.

On the basis of agent type, the bio-decontamination 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 bio-decontamination 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 bio-decontamination market.

Chamber bio-decontamination accounted for the largest share of the bio-decontamination market in 2019

On the basis of type, the bio-decontamination market is segmented into room and chamber bio-decontamination. Chamber bio-decontamination 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 dominated the bio-decontamination market in 2019.

North America, which includes the US, & Canada, accounted for the largest share of the bio-decontamination market in 2018. The growth in this market is primarily driven by the growing demand for bio-decontamination 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.

Market Dynamics

Drivers

  • Rising Incidence of Hospital-Acquired Infections
  • Increasing Number of Surgical Procedures
  • Increasing Outsourcing of bio-decontamination Services
  • Growth in the Pharmaceutical and Biotechnology Industries
  • Presence of Stringent Regulations

Restraints

  • Presence of Manual bio-decontamination Methods and Budgetary Constraints in Healthcare Facilities

Opportunities

  • Emerging Markets

Companies Mentioned

  • Amira S.r.l
  • ClorDiSys Solutions, Inc.
  • Ecolab
  • Fedegari Autoclavi SpA
  • Howorth Air Technology Ltd.
  • JCE Biotechnology
  • Noxilizer, Inc.
  • STERIS PLC
  • TOMI Environmental Solutions Inc.
  • Wenzhou Weike Biological Laboratory Equipment Co. Ltd.
  • Zhejiang Tailin Bioengineering Co., Ltd.

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Related Topics: Biotechnology

Contacts

ResearchAndMarkets.com
Laura Wood, Senior Press Manager
press@researchandmarkets.com
For E.S.T Office Hours Call 1-917-300-0470
For U.S./CAN Toll Free Call 1-800-526-8630
For GMT Office Hours Call +353-1-416-8900
Related Topics: Biotechnology