Global Bio-decontamination Market Speeding At 7.3% CAGR To 2027

Global Bio-decontamination Market Speeding at 7.3% CAGR to 2027

2023-01-24 08:32:40

By : JSB Market Research

In : BLOG

The global bio-decontamination market by 2027 is supposed to reach USD 227 million rising in 2022 from USD 159 million with a 7.3% CAGR. The demand for ICUs and hospitals increased during the coronavirus infection. The need for more isolation centers and bio-decontamination of spaces took importance in the healthcare industry. This pushed up the preference and requirement for bio-decontamination services and products in the last 3 years.

The impact of COVID-19 added to revenue for companies in 2020. For instance, by 2020, sales of Bioquell Global Healthcare & Life Sciences took a flight by 22%. But segmental revenue in bio-decontamination for 2021 fell by 4% as the severity of the infection decreased. Decontamination services also increased in hospitals during the pandemic time, especially for the COVID-19 wards than normal wards. The rapid bio-decontamination by firms helped to turn emergency wards into general use.

Bio-decontamination Market Forces: Biotechnology and Pharmaceutical Industries

The driving force for growth in biotechnology and pharmaceutical industries for the use of bio-decontamination is from services, equipment, accessories, and consumables. These are utilized mostly by pharmaceutical firms for manufacturing injectable products. The market for global pharmaceuticals in 2020 stood at USD 1,077,856. Also in 2021, the top 15 companies from pharmaceutical backgrounds invested USD 133 billion.

· Expenditure has also increased in the development of new diagnostic and therapeutic products.

· Combined with modern machines and facilities, these companies are also interested to invest in instruments that efficiently decontaminate the environment.

· The field is going to see a boost in the coming years, and an indicator of growth for up to the year 2027.

· The opportunity for bio-decontamination originates in emerging markets of China and India.

· Developed countries are outsourcing services by establishing cost-savings hubs here for placing businesses.

Investments by Developed Countries in Manufacturing Hubs

Some of the investments come from the Europe and US, especially for packaging and manufacturing operations in South Korea, China, and India. This is done to lower the cost of labor and less-stringent rules and regulations by the government in these nations. These countries are also the major manufacturing hubs so that the developed countries can direct resources towards developing and adopting technologically advanced products to meet the requirements of consumers.

· In manual bio-decontamination, you will process such as spraying and cleaning with formaldehyde or bleach.

· A suitable agent is then used for wiping purposes, posing difficulties in residual removal and coverage over the complete area.

· But several developing countries still use these methods because of cost benefits.

· In underdevelopment and developing nations there is low priority still for healthcare and hospital facilities for bio-decontamination.

· But other nations are focusing on healthcare infrastructure. There is better capital investment in the expansion of medical devices and facilities.

Bio-decontamination Market Segmentation and Market Share

The global bio decontamination sees segmentation into service, consumables, and equipment (domination of the market in 2021). The reason for the preference for equipment came from the automated bio-decontamination instead of manual one as well as an increase in end users. Some of the features to look forward to are minimal footprint, portability, and less manual intervention.

The market segmentation is into medical device and pharmaceutical manufacturing companies (largest share in 2021), chamber decontamination (drivers lost power and minimal cost of power consumption) healthcare facilities and hospitals, and biotechnology and life sciences research organizations.

· The success is attributed to the high use of products and services for bio-decontamination because of strict manufacturing guidelines by GMP in pharmaceuticals.

· In bio-decontamination market share, North America ranks first in 2021.

· The contributing factors to its success are the presence of key players, increasing events of HAIs, more surgical processes, and others.

· It is followed by other places such as Asia Pacific and Europe along with the rest of the world.

· Some of the key players include Ecolab (US), Fedegari Autoclavi SpA (Italy), Steris PLC (US), JCE Biotechnology (France), TOMI Environmental Solutions, Inc. (US), and more.

Final Words

Increased activity for bio-decontamination will majorly ensue from the pharmaceutical, healthcare, manufacturing, and services industries. It is to see how applications of modern technologies are used to automate processes over manual decontamination across the regions involved in the sector.

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