SAN FRANCISCO, July 20, 2021 /PRNewswire/ -- The global high level disinfection services market size is expected to reach USD 45.9 billion by 2028, according to a new report by Grand View Research, Inc. The market is expected to expand at a CAGR of 9.2% from 2021 to 2028. The increasing prevalence of hospital-acquired infection and surgical site infections, the increasing number of surgeries coupled with the rise in the incidence of chronic disorders, and the impact of COVID-19 are the key driving factors for the market.
Key Insights & Findings:
- The outsource segment held the largest revenue share in 2020. Several benefits associated with outsourcing such as cost-saving, customized disinfection services and usage of advanced technology is the major factor propelling segment growth
- The glutaraldehyde segment held the largest revenue share in 2020 and is expected to witness the fastest growth over the forecast period due to the increasing number of surgeries
- The hospitals and clinics segment held the largest revenue share in 2020. The segment growth is majorly driven by the increasing number of hospital-acquired infections and the rising number of people suffering from coronavirus
- In Asia Pacific, the market is expected to witness the fastest growth rate over the forecast period owing to the rising prevalence of chronic disorders
Read 90 page market research report, " High Level Disinfection Services Market Size, Share & Trends Analysis Report By Services (In-house, Outsourced), By Compound (Formaldehyde, Glutaraldehyde, Peracetic Acid), By End Use, By Region, And Segment Forecasts, 2021 - 2028 ", by Grand View Research
An increase in the prevalence of HAIs due to a lack of sanitation and preventive measures is a major factor expected to propel market growth over the forecast period. Unclean medical devices are a key source of hospital-acquired infections. According to the report published by CDC in 2017, hospital-acquired infections result in more than 99,000 deaths every year. Also, according to antimicrobe.org, HAP accounts for around 27.00% of all nosocomial infections acquired in medical intensive care units (ICU). Since these products are needed for disinfection and cleaning of various hospital equipment, therefore, these instances are expected to surge the demand for high level disinfectant services.
Furthermore, the sudden outbreak of COVID-19 across the globe is one of the major factors propelling the market growth.According to the Worldometer estimates, as of 26th April 2021, there are total 147,884,279 cases globally. If more people become infected with the coronavirus, there will be a significant need for critical care supplies that will boost the demand for high-level disinfectant services. Furthermore, major players operating in the market are developing HLDs that are effective against COVID-19. For instance, LANXESS developed Rely+On Virkon and Solvay's PROXITANE, which is effective against the coronavirus. Hence, such instances indicate considerable market growth over the forecast period.
Grand View Research has segmented the global high level disinfection services market on the basis of services, compounds, end use and region:
- High Level Disinfection Services Outlook (Revenue, USD Million, 2016 - 2028)
- In house
- High Level Disinfection Services Compound Outlook (Revenue, USD Million, 2016 - 2028)
- Hydrogen Peroxide
- Peracetic Acid
- High Level Disinfection Services End-use Outlook (Revenue, USD Million, 2016 - 2028)
- Hospitals & Clinics
- Diagnostic Laboratories
- Pharmaceutical & Biotechnology Companies
- Academic and Research Institutes
- High Level Disinfection Services Regional Outlook (Revenue, USD Million, 2016 - 2028)
- North America
- Asia Pacific
- Latin America
- Middle East & Africa
- South Africa
- Saudi Arabia
List of Key Players of High Level Disinfection Services Market
- Microchem Laboratory
- Metrex Research, LLC.
- Rentokil Initial plc.
- Advance Sterilization Products (ASP)
Check out more studies on disinfection equipment and services, by Grand View Research:
- Ultraviolet Disinfection Equipment Market - The global ultraviolet disinfection equipment market size was valued at USD 2.3 billion in 2019 and is expected to grow at a compound annual growth rate (CAGR) of 19.0% from 2020 to 2027.
- Disinfection Cap Market - The global disinfection cap market size was valued at USD 298.3 million in 2019 and is expected to witness a CAGR of 3.7% over the forecast period.
- Ultrasound Probe Disinfection Market - The global ultrasound probe disinfection market size was valued at USD 342.5 million in 2019 and is expected to grow at a compound annual growth rate (CAGR) of 9.4% from 2020 to 2027.
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About Grand View Research
Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.
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SOURCE Grand View Research, Inc.