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(Medical-NewsWire.com, October 08, 2019 ) What is the future growth analysis of global Bio Decontamination Market?
The Bio Decontamination Market is projected to reach USD 175 million by 2024 from USD 130 million in 2019, at a CAGR of 6.1%
What are key factors driving growth of global Bio Decontamination Market?
The rising incidence of hospital-acquired infections (HAIs), growth in the pharmaceutical and biotechnology industries, and increasing outsourcing of bio decontamination services are factors driving the growth of the bio decontamination market.
What the growth opportunities are in Bio Decontamination Market?
1. Untapped Emerging Markets
2. Growth in the Pharmaceutical and Biotechnology Industries
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Global Market Segmentation:
In the current market scenario, there is a growing demand for bio decontamination. The market has been categorized based on the product, type, end user and region.
On the basis of product & service, the bio decontamination market is segmented into equipment, consumables, and services. In 2018, the equipment segment accounted for the largest market share of bio decontamination industry. The launch of new and advanced instruments, portability, and the reduced need for manual intervention are key factors driving the growth of this segment.
By type, the bio decontamination industry is segmented into room and chamber bio decontamination. In 2018, chambers accounted for the largest share of the market. The large share of this segment can be attributed to factors such as lower power consumption, smaller footprint, and cost-effectiveness.
On the basis of agent type, the bio decontamination market is segmented into hydrogen peroxide, nitrogen dioxide, chlorine dioxide, and peracetic acid. In 2018, the hydrogen peroxide segment accounted for the largest share of the bio decontamination industry. The advantages offered by hydrogen peroxide, such as material compatibility and safety with minimum residue, are the major factors contributing to its dominance in the bio decontamination industry.
On the basis of end user, the biodecontamination market is segmented into pharmaceutical & medical device manufacturing companies, hospitals & healthcare facilities, and life sciences & biotechnology research organizations. In 2018, the pharmaceutical & medical device manufacturing companies segment accounted for the largest market share and highest growth rate, owing to the growing adoption of biodecontamination products & services by pharmaceutical and medical device manufacturing industries to adhere to stringent regulations.
Geographic Growth Analysis:
On the basis of region, the bio decontamination market is segmented into North America, Europe, Asia Pacific, and the Rest of the World. In 2018, North America commanded the largest share of the bio decontamination industry. The large share of this regional segment can be attributed to the growing demand for bio decontamination technologies from the healthcare industry to minimize the occurrence of hospital-acquired infections and the presence of major players in the region.
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Key Players In Global Bio Decontamination Market:
The major players operating in this market are STERIS (US), Ecolab, Inc. (US), TOMI Environmental Solutions, Inc (US), JCE Biotechnology (France), Fedegari Autoclavi SpA (Italy), Zhejiang Tailin Bioengineering Co., Ltd. (China), Noxilizer, Inc. (US), Howorth Air Technology Limited (UK), Wenzhou Weike Biological Laboratory Equipment Co., Ltd. (China), ClorDiSys Solutions Inc. (US), and Amira S.r.l. (Italy).
Mr. Shelly Singh