Market Size of Surface Disinfectant Industry
|Study Period||2018 - 2028|
|Base Year For Estimation||2022|
|Fastest Growing Market||Asia Pacific|
|Largest Market||North America|
*Disclaimer: Major Players sorted in no particular order
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Surface Disinfectant Market Analysis
The Global Surface Disinfectant Market size is expected to grow from USD 4.83 billion in 2023 to USD 6.29 billion by 2028, registering a CAGR of 5.46% during the forecast period (2023-2028).
The outbreak of COVID-19 significantly impacted the growth of the surface disinfectant market as surface disinfection was a major care during the pandemic period. The usage of surface disinfectants that protect healthcare facilities was raised during the pandemic. As a result, several companies have ramped up their production and were focused on developing new products which helped the market grow. In addition, the demand for surface disinfectants is still growing, with new developments that are likely to prevent the pandemic from recurring. For instance, in January 2023, the University of Queensland stated that it developed a long-lasting surface spray that could kill viruses such as COVID-19 and potentially deadly bacteria. These new developments increase the safety of pandemics and are expected to significantly impact the market over the coming years.
The factors driving the market growth include the rising incidence of hospital-acquired infections, the subsequent growth in the prevalence of chronic diseases, and the increasing number of surgical procedures. As per the study report published by the Journal of Infection in Developing Countries in February 2023, as of 2022, the overall prevalence of hospital-acquired infections in Southeast Asia was 21.6 %, with the highest prevalence rate of 30.4% reported in Indonesia. Hence, with the growing burden of hospital-acquired infections, the demand for surface disinfection increases, which is expected to grow the market over the forecast period.
Furthermore, the strategic initiatives and approvals by the market players are also expected to drive the market's growth. For instance, in March 2023, Neogen Corporation stated that the United States Environmental Protection Agency (EPA) has approved additional virucide claims to its Neogen Viroxide Super disinfectant. These label claims specify that Neogen Viroxide Super kills viruses on hard, non-porous surfaces that cause Avian Influenza A, Bovine Viral Diarrhea, Porcine Respiratory and Reproductive Syndrome (PRRS), and African Swine Fever. Hence, given the abovementioned factors and increasing product approvals, the market studied is expected to be boosted over the forecast period.
However, issues related to the sterilization and disinfection of advanced medical instruments and side effects associated with certain toxic chemicals may impede market growth over the forecast period.