Lately, clinical grade disinfectant market is witnessing huge demand. Growth in demand rate is attributed to rising awareness regarding sanitization and hygiene among people. Further, growing incidence of hospital acquired infections (HAI) has been driving demand for clinical grade infections. As per a report published by the CDC, approximately 1 in 31 hospital, patients acquire health infection during stay period in the hospital. This came as a serious concern. Hence, healthcare regulatory bodies and hospital management have implemented strict regulations regarding use of clinical grade disinfectant to maintain cleanliness and hygiene.
Moreover, increasing number of healthcare facilities has been contributing extensively to the global clinical grade disinfectant market in coming years.
There are more than 112 thousand healthcare facilities including private and government facilities around the globe. These institutions are anticipated to boost their demand for clinical grade disinfectant.
Besides hospital acquired infections and rising awareness regarding hygiene and sanitization, outbreak of COVID-19 has positively impacted the global
clinical grade disinfectant market. In fact, when all other sectors has become stagnant, the global clinical grade disinfectant market has been witnessing lucrative growth rate. And until the vaccine is not launched in the market, the market is likely to proliferate in coming period of time.
Since, the novel coronavirus is highly transmissible and the diseases is communicable in nature, people are keen towards application of disinfectant. For now, use of disinfectant is the one of the few ways to mitigate the risk of infection.
Hence, demand for clinical grade disinfectant has surged exponentially since the outbreak.
Moreover, government bodies have implemented strict regulations for overall sanitization of medical facilities for safety and wellbeing of both doctors and patients. Also, sudden surge in healthcare expenditure has been witnessed. This, in turn, has resulted in sourcing of hygiene products by medical facilities.
Besides medical facilities, demand for clinical disinfectant from isolation home, private clinic, and hospitals is anticipated to accelerate sales of the disinfectant.
As per market analysts, the global clinical grade disinfectant market is anticipated to observe a year-on-year growth of approximately 23% in 2020 as compared to 2019.
Europe Accounts for Major Share of Clinical Grade Disinfectant Market Due to High Coronavirus Infection Rate in Region
Europe clinical grade disinfectant market is account for approximately one-third of the global clinical disinfectant market share. Moving forward, the market is anticipated to witness significant growth in coming period of time. Growth of the regional market is attributed to more than average expenditure of disinfection and cleaning of healthcare facilities due to outbreak of COVID-19 pandemic.
Until now, maximum number of COVID-19 cases has been recorded in Europe, and the number is still rising. Demand for clinical grade disinfectant in Europe is projected to proliferate by 1.3 times as compared to 2019.
Upsurge in Demand for Clinical Grade Disinfectant Provides Opportunity for New Entrants in Global Market
Clinical grade disinfectant market is consolidate in nature wherein top players hold for approximately 60% of overall sales revenue. However, pandemic may result in new entrants in the clinical grade disinfectants landscape due to outburst of demand for the disinfectants.
Existing players such as Lonza Group, BASF SE, Dow Chemical, and BASF SE have been pushing their limit to address exponential demand rate for clinical grade disinfectant.