The market for alcohol based disinfectants is anticipated to record a notable CAGR of around 8% over the forecast period 2020-2028. The major key factors driving the growth of the market are rise in the number of epidemics such as COVID-19 along with the demand for alcohol based disinfectants.
In addition, the outbreak of COVID-19 has directed the society to protect themselves against potential virus infections in order to battle the pandemic. Moreover, several industries are adopting the usage of disinfectants to prevent contamination.
Research Nester published a report titled “Alcohol based disinfectants market– Global Demand Analysis and Opportunity Outlook 2020-2028” which delivers detailed overview of the alcohol based disinfectants market in terms of market segmentation by product type, by application type, by end user and by region.
Further, for the in-depth analysis, the report encompasses the industry growth drivers, restraints, supply and demand risk, market attractiveness, BPS analysis and Porter’s five force model.
Based on application type, the market is segmented into hand sanitizers, clinical devices, clinical surfaces and others. The market for hand sanitizers is anticipated to dominate the market owing to the rising demand for hygiene products and growing concerns related to infections caused by unclean hands. Additionally, increasing cleaning practices among consumers regarding hand sanitizers owing to its property of rapid evaporation and germ-killing efficiency is anticipate expanding the market growth over the forecast period.
Based on the regional analysis, the market for alcohol based disinfectants is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region. The market in North America is anticipated to witness leading share on the back of presence of emerging nations emphasizing on public health along with the regulations regarding disinfectants by US Food and Drug Administration (FDA). The Asia Pacific region is anticipated to be fastest growing on the back of supportive government initiatives for clean environment along with the prevention from infections and rising disposable income of people with the rising urbanization.
The use of alcohol based disinfectants is rising on daily basis owing to the rising awareness regarding hygiene and health care by the regulatory bodies. Additionally, programs related to infection control in various hospitals and rising concerns about personal care and healthy lifestyle to contract illness is accelerating the market growth. Moreover, the use of alcohol based disinfectants in soap, paint and cosmetic industries for killing harmful microorganisms along with the elimination of bacteria efficiently is fostering the growth in the market over the forecast period.
However, low prices of non alcohol-based disinfectants and users’ perception regarding harmful chemicals used in the disinfectants is expected to operate as key restraint into the growth of alcohol based disinfectants market over the forecast period.