by Antiseptics are commonly used for disinfecting minor cuts, burns, scrapes, and for reducing bacterial growth on skin before injections, surgery, tattoos, etc. The demand for antiseptics has increased significantly due to the rising awareness about the need for skin disinfection especially in hospitals, laboratories, food processing industry and households.
The global Antiseptic Market is estimated to be valued at US$ 15 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 key trends:
Growing Demand for skin Disinfection: The increasing prevalence of hospital acquired infections due to insufficient sterilization practices has propelled the demand for antiseptics from hospitals and medical facilities for skin disinfection. As per WHO, it is estimated that 10% of hospitalized patients suffer from at least one hospital acquired infection globally. Rising awareness about bacterial and viral infections has boosted the demand for antiseptic products for personal hygiene and disinfection, thereby driving the antiseptic market growth over the forecast period.
SWOT Analysis
Strength: Antiseptic products provide effective protection against germs and prevent infections. They help maintain hygiene.
Weakness: Prolonged use of some antiseptic products can damage skin and cause irritation. Fragrances added can cause allergic reactions in some individuals.
Opportunity: Growing healthcare sector and increasing awareness about hygiene amid pandemic has increased demand for antiseptic products. Rising infections further boost the market.
Threats: Strict regulations concerning the components used in antiseptics act as a challenge. Competition from alternatives like sanitizers also poses a threat.
Key Takeaways
The Global Antiseptic Market Size is expected to witness high growth.
North America currently dominates the market owing to more developed healthcare infrastructure and rising awareness about health and hygiene. Asia Pacific is likely to experience fastest growth in the forecast period due to improving access to healthcare facilities and expanding medical tourism industry in the region.
Key players operating in the antiseptic market are 3M, Johnson & Johnson, Winona, Sunstar, Reckitt Benckiser Group plc, Clarion Brands, Dabur, S.C. Johnson & Son, Colgate-Palmolive, EcoLab, Elysium Health, Glowderma, Mederma, Neosporin, and others. With growing demand from consumers and healthcare facilities, leading players are investing in new product development and expanding geographies. Partnerships with suppliers and distributors are helping key players further strengthen distribution networks.
Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
