Pharmaceutical and Healthcare Segment is the largest segment driving the growth of Bio Decontamination Market
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| Bio Decontamination Market |
The global Bio Decontamination Market is estimated to be valued at US$ 178.3 Mn or Mn in 2023 and is expected to exhibit a CAGR of 18 % over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
Bio decontamination utilizes various chemical and non-chemical based processes to decontaminate pharmaceutical and healthcare facilities including isolators, chambers, and whole buildings. It helps prevent spoilage and contamination of products and maintains sterility.
Market key trends:
One of the key trend in the bio decontamination market is growing adoption of non-chemical decontamination methods. Non-chemical decontamination methods such as steam, vaporized hydrogen peroxide, and gas plasma are gaining popularity due to their effectiveness and environment friendliness. They can kill microbes without leaving any residues. For instance, vaporized hydrogen peroxide is a sporicidal and rapidly bactericidal agent which breaks down to oxygen and water after decontamination process without leaving any residues.
Market Key Trends:
The bio decontamination market has been witnessing high growth owing to the increasing prevalence of hospital-acquired infections. Stringent regulatory guidelines regarding sterilization and disinfection of pharmaceutical and biotechnology facilities have boosted the demand for bio decontamination services. Furthermore, advancement in bio decontamination equipment and reagents that provide more effective decontamination is another key trend in this market.
SWOT Analysis
Strengths:
- Growing need to prevent spread of infectious diseases in healthcare settings.
- Stringent regulatory environment regarding sterilization and cleaning of facilities.
Weaknesses:
- High costs associated with bio decontamination equipment and services.
- Requirement of trained professionals for handling bio decontamination equipment.
Opportunities:
- Rising pharmaceutical and biotechnology industry creating more demand.
- Emerging economies providing growth opportunities.
Threats:
- Alternative sterilization technologies competing in the market.
- Threat from new infectious diseases and drug-resistant microorganisms.
Key Takeaways
The Global Bio Decontamination Market Size was valued at US$ 178.3 Million in 2023. It is expected to grow at a compound annual growth rate (CAGR) of 18% from 2023 to 2030.
The growth of the market can be attributed to the increasing prevalence of hospital-acquired infections. Various regulatory mandates regarding sterilization and disinfection procedures in the healthcare facilities and pharmaceutical industry have also propelled the demand for bio decontamination services over the years.
North America dominated the global bio decontamination market in 2023. This regional growth can be attributed to the growing prevalence of infectious diseases, increasing number of biomedical research activities, and well-established pharmaceutical industry. However, the Asia Pacific region is expected to witness the highest CAGR during the forecast period due to improving healthcare infrastructure and aggressive strategies adopted by market players.
Key players operating in the bio decontamination market are STERIS Corporation, Ecolab, Inc., TOMI Environmental Solutions, Inc., JCE Biotechnology, Fedegari Autoclavi SpA, Howorth Air Technology Ltd., Noxilizer, Inc., ClorDiSys Solutions, Inc., Wales Group, and Wenzhou Weike Biological Laboratory Equipment Co., Ltd. among others. Strategies such as mergers, partnerships, and expansion have been adopted by major companies to gain higher revenue shares in this lucrative market.
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