The Rising Bio Decontamination Market is Anticipated to Witness High Growth Owing to Growing Concerns About Hospital Acquired Infections
The bio decontamination market involve products and services used to decontaminate facilities and equipment that may have been exposed to biological agents such as bacteria, viruses and spores. The bio decontamination process helps eliminate hazardous microorganisms, thus enabling facilities to be reused safely. With the rising prevalence of hospital acquired infections and increasing regulatory compliance for improved sterilization, the need for effective decontamination services has grown over the years.
The Bio Decontamination Market size is expected to reach US$ 463.8 Mn by 2030, from US$ 245 Mn in 2023, growing at a CAGR of 9.5% during the forecast period.
Key Takeaways
Key players operating in the bio decontamination market are Steris PLC, Ecolab, Inc., TOMI Environmental Solutions, Inc, JCE Biotechnology, Howorth Air Technology Ltd and Noxilizer, Inc. These players are focusing on new product launches and strategic collaborations to strengthen their market position.
Some of the key opportunities in the Bio Decontamination Market Trend include increasing partnerships between decontamination service providers and healthcare facilities. Growing demand from pharmaceutical and life sciences industries for compliant decontamination of manufacturing facilities is another major opportunity.
The bio decontamination market is expanding globally with emerging players entering regions like Asia Pacific and Latin America. Leading service providers are also establishing new facilities abroad to cater to the increasing need for decontamination in international healthcare and pharmaceutical industries.
Market Drivers
Growing prevalence of hospital acquired infections is a major driver for the bio decontamination market. With over 4.5 million patients getting infected annually in the US alone, the need for improved sterilization measures is surging. Stringent regulations regarding decontamination of healthcare facilities are also propelling the demand.
Market Restraints
Lack of standardized processes and guidelines for bio decontamination can hamper the market growth. Absence of regulatory compliance in some regions also poses a challenge. High cost of decontamination services and equipment also restricts wider adoption.
Segment Analysis
Bio decontamination market consists of three major segments - Equipment, Service and consumables. Equipment segment dominated the market as these are the main investments required for setting up decontamination facilities. Within equipment, chamber systems are the dominating sub-segment due to their ability to efficiently decontaminate large full rooms and spaces with minimum downtime requirements.
Global Analysis
North America region dominated the bio decontamination market owing to stringent regulatory mandates and higher healthcare expenditure. The region holds major share in global spending on medical research and development. Asia Pacific is the fastest growing region due to increasing healthcare investments, rising incidences of hospital acquired infections and growing medical tourism. China and India are emerging as major markets owing to development of pharmaceutical production clusters and increasing complex surgeries in these countries. Development of specialized economic zones for pharmaceutical manufacturing will further drive the demand.
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Ravina Pandya Content Writer, has a strong foothold in the market research industry. She specializes in writing well-researched articles from different industries, including food and beverages, information and technology, healthcare, chemical and materials, etc.