by Antiseptics are primarily used for prevention of minor cuts, burns and infections. Products such as antiseptic creams, liquids, and wipes are commonly used by hospitals and clinics to disinfect the skin before injections or surgeries. Growing awareness regarding hygiene and COVID-19 pandemic driving increased demand for frequent hand washing and use of sanitizers is boosting the antiseptic market.
The global antiseptic market is estimated to be valued at US$5 Billion in 2023 and is expected to exhibit a CAGR of 14% over the forecast period 2023-2031, as highlighted in a new report published by Coherent Market Insights.
Market Dynamics
Growing consumer awareness on personal hygiene is expected to be a key driver for antiseptic market growth. Increased awareness regarding regular hand washing and use of antiseptic products to prevent spread of infections has boosted demand. Growing hygiene consciousness coupled with increased healthcare spending in developing nations is favoring market growth. The COVID-19 pandemic has further accelerated this trend, fueling sales of hand sanitizers and antiseptic liquids as people strive to boost personal protection. Additionally, increasing prevalence of hospital acquired infections and surgical site infections is also propelling demand from hospitals and medical facilities for antiseptics to disinfect wounds and sterilize equipment and surfaces. Rising healthcare expenditure coupled with growing incidence of chronic diseases increasing surgical procedures will continue to drive market growth over the forecast period.
Segment Analysis
The global antiseptic market is dominated by the healthcare segment. Healthcare accounted for more than 60% share of the overall antiseptic market in 2022. Within healthcare, surgical antiseptics form the largest sub-segment due to their high usage in hospitals for pre-and post-surgery cleaning and disinfecting of surgical sites. Growing number of surgeries owing to rising prevalence of chronic and infectious diseases is driving the demand for surgical antiseptics.
PEST Analysis
Political: Regulations regarding the use of antiseptics in food and personal care products are becoming more stringent to ensure safety. This is positively impacting mainstream players and boosting the demand for certified products.
Economic: Growing per capita income and healthcare spending in emerging nations is fueling the demand. However, high cost of advanced antiseptics may limit their adoption in price sensitive markets.
Social: Rising health consciousness and awareness about hygiene is a key factor driving increased consumption of antiseptics in personal care and other applications.
Technological: Continuous R&D to develop effective and user-friendly formulations without toxic contents will help existing players to gain market share. Natural and herbal antiseptics are finding greater acceptance.
Key Takeaways
The Global Antiseptic Market Size is expected to witness high growth.
North America dominated the maarket and accounted for over 30% share owing to stringent regulations and advanced healthcare infrastructure in the region. Factors such as high number of surgeries and growing demand for long-lasting and multifunctional antiseptics will support growth.
Key players operating in the antiseptic market are 3M, STERIS Plc., Reckitt Benckiser Group Plc., Cardinal Health, Johnson & Johnson, Kimberly-Clark, BD, and Novartis AG.
Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
