The hospital disinfectant products & services market size is estimated to be valued at US$ 36,075.74 million in 2023 and is expected to reach US$ 75,575.0 million by 2033. The adoption of hospital disinfectant products & services is likely to advance at a CAGR of 7.7% during the forecast period.
Increasing awareness about infection prevention, coupled with favorable initiatives taken by hospitals and governments, will drive demand for hospital disinfectant products & services.
Healthcare organizations and governments, in collaboration with hospitals, have been spreading some of the primary prevention and infection control methods such as appropriate hand hygiene and the correct application of necessary precautions during invasive procedures. These measures prominently include proper usage of hospital disinfectants, which is responsible for growing awareness about adoption of effective and efficient hospital disinfectant products & services.
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Key Takeaways – Hospital Disinfectant Products & Services Market Study
- Hundreds of millions of patients are affected by health care-associated infections worldwide each year, leading to significant mortality and financial losses for health systems.
- Poor quality of healthcare services in low to medium income countries are the most emerging regions for hospital disinfectant products & services market.
- Manufacturers are focusing on formulating hospital disinfectants that have natural ingredient base to reduce the overall toxicity and prevent other disease emergence.
- Lack of compliance of national guidelines and policies by hospitals may pose a threat to both mankind and the hospital disinfectant products & services market.
- Implementation of Patient Protection and Affordable Care Act (PPACA), which expects a manufacturer to pay 2.3% tax on the sale of medical devices will increase expenses for sterilization equipment manufacturers. As a consequence, it may hamper the growth of the hospital disinfectant products & services market for the forecasted years.
Bloodstream infection (BSI), ventilator-associated pneumonia [VAP], urinary tract infection (UTI), and surgical site infection (SSI) are some of the common intricate hospital associated infections creating continuous opportunities for the global hospital disinfectant products & services market. Companies, thus, must manufacture products in compliance with medical regulations.
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Geriatric Population Primarily Driving Demand
Affordability of various treatment services and improved healthcare policies in different countries have led to an increased life expectancy of the population. According to WHO, the global geriatric population is expected to grow from 524 million in 2010 to 2 billion by 2050. The geriatric population suffers from various diseases and requires diagnosis and treatments that involve the use of non-disposable medical equipment. Therefore, the increase in the geriatric population globally is projected to drive demand for various medicals services and disinfecting medical devices, thereby enhancing the hospital disinfectant products & services market.
- The global geriatric population is expected to grow at the fastest rate in developed countries such as Italy, Germany, the U.K., the U.S., and Japan.
- Increase in healthcare spending is another factor that boosts the Hospital Disinfectant Products & Services Market.
However, the leading manufacturers of hospital disinfectant have to comply with stringent rules and regulations that their products meet to gain a spearhead competition in the global hospital disinfectant products & services market.
What Does the Report Cover?
Future Market Insights, in its new research study, brings forward a detailed analysis of the global hospital disinfectant products & services market, presenting historical demand data (2014-2018) and forecast statistics for the period of 2019-2029.
The study elaborates the insights on the hospital disinfectant products & services market on the basis of type (liquid, gels & lotions, spray & foam, wipes, devices, surveillance providers, and other types), application (skincare, surface cleaners, surveillance providers, disinfectant instrument accessories, water cleaners, and air cleaners), across seven significant regions. The study focuses on product innovations, key developments, and various opportunities and trends in the hospital disinfectant products & services market.
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Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 5000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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