The world is currently plunged into a massive uncertainty due to the outbreak of coronavirus pandemic. At the time of writing, there are more than 750,000 confirmed cases as per the World Health Organization and has claimed more than 36,000 lives across the globe. Almost all the major nations in the world including the US, the UK, Spain, Italy, France, and India among others are currently under lockdown for the precaution against the virus.
Covid-19 Pandemic to Present Massive Growth Opportunities for Market Development
The current situation has created a huge growth opportunity for the development of the global surface disinfectant market. Nations hit with Covid-19 are creating huge demands for these surface disinfectants in order to curtail the spread of the virus via community spread. Large tanks and sprayers filled with surfaced disinfectants are being used across hospitals and other major public places in order to stop the spread of the virus.
Naturally, such unprecedented situations have created massive growth opportunities for the development of the global surface disinfectants market. The demand is expected to remain high in the near future. According to the research study published by Transparency Market Research, the global surface disinfectants market is expected to clock a massive CAGR of 10.40% over the course of the forecast period ranging from 2016 to 2024. The market valuation is expected to reach US$1.7 Bn by the end of 2024, given the rate of development.
Apart from the above mentioned impact of the Covid-19 on the global market for surface disinfectants, there are several other key factors that are also contributing to its overall development. A key driving factor for the market development has been the increasing awareness among customers about the importance of public as well as personal hygiene. In addition to this, strict rules and regulations have been issued for maintaining higher standards of cleanliness. Given the global health conditions, these regulations are only expected to be observed and followed more strictly in the coming years. Naturally, such developments are expected to provide a massive impetus to the demand for surface disinfectants and thus drive the market growth.
Another notable driving factor for the development of the global surface disinfectants market is the recent rise in the number of surgical procedures across the globe. With the growing prevalence of chronic disorders coupled with rising geriatric population, the number of patient undergoing surgical procedures are expected to rise. This will have direct impact on the development of the surface disinfectants market as they are primarily used to disinfect operation theatres, clinics, and hospitals in order to stop the spread of hazardous microorganisms such as bacteria and viruses.
Furthermore, in recent years, there have been massive developments in terms of product innovation. The companies operating in the global market for surface disinfectants have put in huge resources in the activities of research and development to create new and innovative products that cater to the evolving needs of their end users.
Asia Pacific to Remain Largest Regional Segment in Near Future
In terms of regional outlook, the global market for surface disinfectants is expected to be dominated by the Asia Pacific segment and will continue to lead over the course of the forecast period. Investments for the development of healthcare infrastructure from emerging economies such as India and China, coupled with rapidly evolving geopolitical situations due to Covid-19 are expected to play a major role in keeping Asia Pacific market on the rise in the near future. The segment of Middle East and Africa is expected to offer significant growth opportunities in the coming years of the forecast period. Europe and North America are also expected to witness surging demands in near future due to the impact of the Covid-19 in these regions.
Some of the key companies operating in the global surface disinfectants market are 3M Company, DuPont, Procter & Gamble, Henry Schein, Kimberly-Clark, and Johnson & Johnson Services Inc.
7 of 10 large enterprizes view our ToC to take the right decision.Get In Touch