April 24, 2024
Antiseptic Market

Antiseptic Market Is In Trends By Increasing Awareness About Hygienic Health Practices

The antiseptic market comprises antiseptic products such as disinfectants & general germicides, antiseptic wipes & liquids, chlorhexidine solutions, iodine products, antibiotics, and hydrogels that help in preventing infections and killing germs. Antiseptics are widely used in healthcare facilities for sterilizing hands, instruments, wounds, and other areas that are susceptible to infections. They are also used extensively in households in the form of hand sanitizers, cleaning wipes, and disinfecting sprays. Antiseptic products provide a safeguard against infections by destroying or inhibiting microorganisms such as bacteria, viruses, and fungi on living tissues.

The Global Antiseptic Market Size is estimated to be valued at US$ 37.11 Bn in 2024 and is expected to exhibit a CAGR of 14% over the forecast period 2024 to 2030.

Key Takeaways

Key players operating in the Antiseptic market are Kothari Fermentation and Biochem Ltd, ABF ingredients, Biomin, Angel Yeast, Bob’s Red Mill, Cargill Inc., Nutreco, Alltech and Pacific Ethanol. The increasing incidence of healthcare-associated infections and rising awareness about personal hygiene amid the COVID-19 pandemic have boosted the demand for antiseptic products in recent years. Many antiseptic product manufacturers are focusing on expanding their geographic presence by establishing production and distribution networks across major markets to leverage growth opportunities.

Market key trends

The increasing prevalence of chronic and contagious diseases is a key trend driving the demand for antiseptics. According to the World Health Organization (WHO), chronic diseases were responsible for 60% of the global burden of disease in 2001 and are expected to account for approximately 73% of all deaths worldwide by 2020. The risk of chronic and infectious diseases has increased the need for proper disinfection and sterilization, thereby fueling sales of antiseptic products.

Porter’s Analysis

Threat of new entrants: New companies find it difficult to enter the market due to high initial costs required to manufacture antiseptic products.

Bargaining power of buyers: Buyers have moderate bargaining power as there exist many established manufacturers providing a variety of antiseptic products.

Bargaining power of suppliers: Suppliers have moderate bargaining power due to availability of substitute raw materials that can be used by manufacturers.

Threat of new substitutes: Threat is moderate as not many alternative products provide the same disinfection and sterilization properties as antiseptics.

Competitive rivalry: The market is highly competitive with major global players continually investing in R&D to differentiate their product offerings.

Geographical concentration

North America accounts for the largest share of the antiseptic market currently due to rising healthcare expenditure and growing prevalence of hospital-acquired infections in the region.

Fastest growing region

Asia Pacific region is poised to be the fastest growing market for antiseptics during the forecast period due to rapidly developing healthcare infrastructure, increasing awareness about hygiene, and a rising middle-class population in countries like India and China.

*Note:
1.Source: Coherent Market Insights, Public sources, Desk research
2.We have leveraged AI tools to mine information and compile it