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HEALTHCARE & PHARMACEUTICAL

Bio Decontamination Market Segmentation by Product (Equipment, Service, and Consumables); by Agent (Chlorine, Hydrogen Peroxide, Nitrogen, and Peracetic Acid); and by End User (Biotech, Medical Devices, Pharma, Life Sciences, and Hospital) – Global Demand Analysis & Opportunity Outlook 2031

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Extensive insights into the Growth of Bio Decontamination Market amidst COVID-19

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IN THE NEWS

  • August 2020- Chargepoint announced a partnership with Steris to provide integrated sterile transfer solutions, by combining its AseptiSafe Bio Transfer Valve with the VHP Biodecontamination Systems from Steris.

  • February 2020- Bioquell, an Ecolab Inc. solution, showcased their end-to-end bio decontamination systems at the Tampa Convention Center in Florida.

Global Bio Decontamination Market Highlights Over 2022 - 2031

The global bio decontamination market is estimated to garner a large amount of revenue by growing at a CAGR of ~6% over the forecast period, i.e., 2022 – 2031. The growth of the market can be attributed to the increasing prevalence of hospital-acquired infections (HAIs), coupled with rising number of surgical procedures performed across the world. As per the Eurostat statistics of the European Union, in 2018, at least 1.4 million C-sections surgeries were performed in the EU-27 alone. Whereas, about 4.3 million cataract surgeries were conducted in the region that same year.

Along with these, governments of several developed and developing nations have imposed stringent regulations for preventing viral contamination. This in turn is also expected to drive market growth in the forthcoming years. Furthermore, growing demand for chamber decontamination, and escalating deployment of equipment with less manual intervention in healthcare facilities are projected to offer lucrative opportunities to the market in the near future.

Bio Decontamination Market Graph

The market is segmented by end user into biotech, medical devices, pharma, life sciences, and hospital, out of which, the medical devices segment is anticipated to hold the largest share in the global bio decontamination market. This can be accounted to the growing adoption of bio decontamination products by medical device manufacturers in order to adhere to the strict healthcare protocols. Apart from this, rising emphasis of companies to maintain hygienic environment in bio-pharma units is also predicted to drive growth to the market segment in the future. Additionally, on the basis of product, the equipment segment is assessed to grab the largest share during the forecast period owing to the increasing launch of advanced instruments with lesser manual intervention by market players.CLICK TO DOWNLOAD SAMPLE REPORT

Major Macro-Economic Indicators Impacting the Market Growth

Global Healthcare Expenditure per Capita Graph

According to the statistics by the World Health Organization, the global per capita healthcare expenditure amounted to USD 1,064.741 in the year 2017. The worldwide healthcare expenditure per person grew from USD 864.313 in 2008 to USD 1,110.841 in 2018, where the U.S. is the top country that amounted to healthcare expenditure of USD 10, 623.85 per capita in 2018. As of 2018, the domestic general government healthcare spending in the U.S. was USD 5355.79, which grew from USD 3515.82 in 2008. These are some of the factors responsible for market growth over the past few years. Moreover, as per the projections by the Centers for Medicare & Medicaid Services (CMS), the estimated average annual percent change related to National Health Expenditures (NHE) in the U.S. was 5.2% in 2020 as compared to 2019 (4.5%). Furthermore, the National Health Expenditures are projected to reach USD 6,192.5 Billion in 2028, where the per capita expenditure is estimated to touch USD 17,611 in the same year. These are notable indicators that are anticipated to create lucrative business opportunities in upcoming years.

Global Bio Decontamination Market Regional Synopsis

Regionally, the global bio decontamination market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and the Middle East & Africa region. The market in Asia Pacific is estimated to witness noteworthy growth over the forecast period on the back of the growing production and export of pharmaceutical products in the region. In addition, rise in the number of government initiatives to enhance healthcare infrastructure is also expected to drive market growth in the region in the coming years. Moreover, the market in North America is projected to grab the largest share during the forecast period ascribing to the surging demand for bio decontamination to reduce the risk of HAIs, and high healthcare expenditure in the region. According to the Centers for Medicare & Medicaid Services, the healthcare spending in the United States grew 9.7% in 2020, reaching USD 4.1 trillion or USD 12,530 per person. As a share of the nation's Gross Domestic Product, health spending accounted for 19.7%.

Bio Decontamination Market Share Image

The global bio decontamination market is further classified on the basis of region as follows:

  • North America (U.S. & Canada) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook
  • Latin America (Brazil, Mexico, Argentina, Rest of Latin America) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook
  • Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC (Finland, Sweden, Norway, Denmark), Ireland, Switzerland, Austria, Poland, Turkey, Russia, Rest of Europe), Poland, Turkey, Russia, Rest of Europe) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook
  • Asia-Pacific (China, India, Japan, South Korea, Singapore, Indonesia, Malaysia, Australia, New Zealand, Rest of Asia-Pacific) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook
  • Middle East and Africa (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of Middle East and Africa) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook

Market Segmentation

Our in-depth analysis of the global bio decontamination market includes the following segments:

By Product

  • Equipment
  • Service
  • Consumables

By Agent

  • Chlorine
  • Hydrogen Peroxide
  • Nitrogen
  • Peracetic Acid

By End User

  • Biotech
  • Medical Devices
  • Pharma
  • Life Sciences
  • Hospital

Growth Drivers

  • Increasing Prevalence of Hospital-Acquired Infections (HAIs)
  • Rising Number of Surgical Procedures Performed Globally

Challenges

  • Less Awareness About the Benefits of Bio Decontamination in Lower Economic Regions

Top Featured Companies Dominating the Market

  • Ecolab Inc.
    • Company Overview
    • Business Strategy
    • Key Product Offerings
    • Financial Performance
    • Key Performance Indicators
    • Risk Analysis
    • Recent Development
    • Regional Presence
    • SWOT Analysis 
  • STERIS PLC
  • TOMI Environmental Solutions Inc.
  • Howorth Air Technology Ltd.
  • Wenzhou Weike Biological Laboratory Equipment Co. Ltd.
  • JCE Biotechnology
  • Zhejiang Tailin Bioengineering Co., Ltd.
  • ClorDiSys Solutions Inc.
  • Amira S.r.l.
  • Noxilizer Inc.

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