The global Bio Decontamination Market is estimated to be valued at US$ 178.3 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:
The bio decontamination market deals with removal and inactivation of biological agents present within defined areas and on surfaces. This process helps to reduce the microbial load present in the environment. Products used in bio decontamination include hydrogen peroxide vapor, chlorine dioxide gas, peracetic acid, and nitrogen dioxide. These products effectively destroy microorganisms such as bacteria, viruses, spores, and fungi. Growing adoption of bio decontamination in the pharmaceutical and healthcare industries to reduce hospital-acquired infections is driving the market growth.
Market key trends:
One of the key trends in the bio decontamination market is the growing demand for rapid detection systems. Rapid pathogen detection helps to identify contaminants within a short span of time and take necessary actions. This further aids in contamination control and facilitates timely treatments. Development of accurate and rapid detection technologies using DNA and RNA analysis is fueling the bio decontamination market growth. Another notable trend is increasing adoption of non-thermal technologies for bio decontamination. Products like vaporized hydrogen peroxide, chlorine dioxide gas, and peracetic acid are increasingly being used as they are effective against microorganisms and do not require high temperatures for decontamination.
Porter's Analysis
Threat of new entrants: Low capital requirements and established brand names in the industry create barriers for new entrants.
Bargaining power of buyers: Large healthcare providers and public health organizations have significant bargaining power over manufacturers due to the availability of alternative suppliers.
Bargaining power of suppliers: The presence of many component suppliers balanced by the innovative capabilities of manafacturers restricts the suppliers' bargaining powers.
Threat of new substitutes: No close substitutes exist for bio decontamination technologies supporting market growth.
Competitive rivalry: Major players compete on the basis of brand recognition, reliable service, and flexible product portfolios limiting intense competition.
Key Takeaways
The Global Bio Decontamination Market Demand is expected to witness high growth, exhibiting CAGR of 18. % over the forecast period, due to increasing adoption of quality assurance and stringent regulations regarding sterilization of pharmaceutical and healthcare facilities.
Regional analysis:
North America dominates the global bio decontamination market. Increasing incidence of hospital-acquired infections and implementation of stringent regulatory guidelines regarding the use of sterilized equipment will drive the North American market. Asia Pacific is projected to exhibit the highest growth rate owing to the growing pharmaceutical and healthcare industries in China and India.
Key players:
Key players operating in the bio decontamination market are STERIS Corporation, Ecolab, Inc. Â , TOMI Environmental Solutions, Inc. Â , JCE Biotechnology, Fedegari Autoclavi SpA, Howorth Air Technology Ltd. , Noxilizer, Inc., ClorDiSys Solutions, Inc. Major players compete on the basis of brand recognition, reliable service, and flexible product portfolios.
