Hospital Disinfection Products and Services Market to Reach US$58,388.4 Million in 2029 | Report by Future Market Insights
The hospital disinfection products and services market registered a robust CAGR of over 7.4% between 2022 and 2029. Out of 100 patients hospitalized at any given time, seven in developed countries and 10 in developing countries tend to contract at least one nosocomial infection. Nosocomial infections have long been the concern of health care delivery centers. Increased awareness of infection prevention, coupled with supportive initiatives by hospitals and governments, will drive demand for hospital disinfectant products and services.
Health organizations and governments, in collaboration with hospitals, have disseminated some of the primary methods of infection prevention and control such as proper hand hygiene and the correct application of necessary precautions during invasive procedures. These measures prominently include the appropriate use of hospital disinfectants, which is responsible for the growing awareness for the adoption of effective and efficient hospital disinfection products and services.
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|Estimated size of the hospital disinfection products and services market 2022||US$33,293.8 million|
|Projected Hospital Disinfection Products and Services Market Size (2029)||US$58,388.4 million|
|CAGR Value (2022-2029)||~7.4%|
|Share of the major players in the hospital disinfection products and services market in 2021.||~22%-30%|
Key Takeaways – Hospital Disinfection Products and Services Market Research
- Hundreds of millions of patients are affected each year by nosocomial infections around the world, resulting in significant mortality and financial losses for healthcare systems.
- The poor quality of healthcare services in low to middle income countries are the most emerging regions for the hospital disinfectant products and services market.
- Manufacturers focus on formulating hospital disinfectants based on natural ingredients to reduce overall toxicity and prevent the emergence of other diseases.
- Non-compliance by hospitals with national guidelines and policies can pose a threat both to humanity and to the market for hospital disinfectant products and services.
- The implementation of the Patient Protection and Affordable Care Act (PPACA), which stipulates that a manufacturer will pay a 2.3% tax on the sale of medical devices, will increase the expenditure of medical equipment manufacturers. sterilization. As a result, it may hamper the growth of the hospital disinfectant products and services market for the anticipated years.
Bacteremia (BSI), ventilator-associated pneumonia [VAP], urinary tract infections (UTI) and surgical site infections (SSI) are some of the common complex hospital infections, creating continuous opportunities for the global hospital disinfection products and services market. Companies must therefore manufacture products that comply with medical regulations.
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The geriatric population mainly fuels demand
The affordability of various treatment services and improved health policies in different countries have led to an increase in the life expectancy of the people. According to the WHO, the global geriatric population is expected to increase 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. Hence, increasing geriatric population globally is expected to drive the demand for various medical services and disinfection medical devices, thereby enhancing the market for hospital disinfection products and services.
- The global geriatric population is expected to grow at the fastest rate in developed countries such as Italy, Germany, UK, USA and Japan.
- Rising healthcare expenditure is another factor driving the market for hospital disinfection products and services.
However, the leading hospital disinfectant manufacturers have to comply with strict rules and regulations that their products adhere to in order to spearhead the competition in the global hospital disinfection products and services market.
What does the report cover?
Future Market Insights, in its new study, presents a detailed analysis of the global hospital disinfection products and services market, presenting historical demand data (2014-2018) and forecast statistics for the period 2019-2029. The study elaborates the market insights of Hospital Disinfection Products and Services on the basis of Type (Liquid, Gels & Lotions, Spray & Foam, Wipes, Devices, Monitoring Providers and Other Types), Application (Care purifiers, surface cleaners, monitoring providers, disinfectant instrument accessories, water purifiers and air purifiers), in seven major regions. The study focuses on product innovations, key developments, and various opportunities and trends in the Hospital Disinfection Products and Services market.
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Frequently Asked Questions
- What is the current market value of hospital disinfection products and services?
- At what rate did the global market for hospital disinfectant products and services grow between 2014 and 2021?
- What are the top trends driving the sales of hospital disinfection products and services?
- Who are the key players in the Global Hospital Disinfectant Products and Services Market?
- What will be the demand outlook for the Latin America hospital disinfectant products and services market?
- What is the demand outlook for hospital disinfection products and services in Japan?
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Future Market Insights (ESOMAR certified market research organization and member of the Greater New York Chamber of Commerce) provides in-depth insights into the driving factors that increase demand in the market. It reveals opportunities that will drive market growth in various segments on the basis of source, application, sales channel, and end-use over the next 10 years.
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