Global Radiodermatitis Market: Snapshot

The global radiodermatitis market has been witnessing a significant progress over the last few years on the grounds of the rising prevalence of cancer and the growing uptake of radiation therapy for its treatment. Thanks to the increasing focus on product innovations and advancements in existing products, the market is also showing high potential for future growth.

Over the coming years, the unmet medical needs of consumers in emerging regions is expected to open a plethora of growth opportunities for market players, leading to a substantial rise in this market. Expanding at a CAGR of 3.90% over the period from 2016 to 2024, the market, which stood at US$299.6 mn in 2015, is anticipated to increase to US$421.5 mn by the end of the forecast period.

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Asia Pacific to Retain Leadership in Global Radiodermatitis Market

Spread across Asia Pacific, the Middle East and Africa, North America, Latin America, and Europe, the market for radiodermatitis boasts of a robust presence across the world. Asia Pacific, among all, has been leading the global radiodermatitis market, thanks to a higher percentage of patients eligible for radiotherapy. The increasing pool of cancer patients is expected to drive the Asia Pacific radiodermatitis market further, ensuring its dominance over the next few years. Since a number of Asian economies, situated in the tropical region, have humid weather conditions, the severity of radiation dermatitis is significantly high in this geographical segment, which is also expected to boost the market for radiodermatitis in Asia Pacific in the near future.

Amongst other regional markets for radiodermatitis, Europe also possesses a considerable share in the global market on account of the increase in research and development activities in life sciences, upswing in academic research in radiation dermatitis, and the escalating number of product launches in this region. The market in North America has been driven by the presence of a large pool of well-established pharmaceutical enterprises, research organizations, and several government institutes, which actively work on developing a standard treatment solution for radiodermatitis.

Latin America and the Middle East and Africa are likely to gain considerably from the increasing attention of multinational companies on them. The large base of the unprivileged population, particularly in the Middle East and central Africa, and the implementation of new policies encouraging the uptake of radiotherapy in these regions are anticipated to boost the radiodermatitis markets in Latin America and the Middle East and Africa.

Topical Agents to Continue Being Most Valued Radiodermatitis Products

Topical, oral medication, and dressings are the main products available in the global market for radiodermatitis. Topical agents witness a higher demand from end users than other radiodermatitis products and are anticipated to continue doing so over the next few years. The ease of availability and cost benefits of topical products have fueled their demand among all strata of consumers, which is likely to reflect positively on their sales in the near future.

Corticosteroid creams, hydrophilic creams, and topical antibiotics are most preferred topical products across the world. Hydrophilic creams report a much higher demand than the other two. Analysts expect this scenario to remain so over the years to come.

Stratpharma AG, Smith & Nephew Plc, Molnlycke Health Care, Intermed Pharmaceuticals, Derma Sciences Inc., ConvaTec Inc., BMG Pharma S.r.l., Acelity LP Inc., and 3M are the key participants in the global Radiodermatitis market.

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Transparency Market Research (TMR) is a market intelligence company, providing global business information reports and services. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insight for thousands of decision makers. We have an experienced team of Analysts, Researchers, and Consultants, who us e proprietary data sources and various tools and techniques to gather, and analyze information. Our business offerings represent the latest and the most reliable information indispensable for businesses to sustain a competitive edge.

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Global Intravenous Immunoglobulin (IVIG) Market: Snapshot

The global market for intravenous immunoglobulin (IVIG) products and therapies is heading in a positive direction due to several innovative techniques and advantages it offers to clinicians worldwide. The market is expected to expand at a healthy pace in the near future. Factors that will support market’s growth include technological improvements in the methods used for production and purification of IVIG products and an improving health care infrastructure across the globe. The rising patient pool suffering from immunological and neurological disorders, mounting geriatric population, and rising production of IVIG products are also expected to have a significant positive impact on market’s future growth prospects.

Transparency Market Research estimates that the market will exhibit a healthy 8.5% CAGR over the period between 2016 and 2024. Expanding at this pace, the market, which valued at US$7.23 bn in 2015, is expected to reach US$14.92 bn in 2024.

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Hospitals to Retain Dominance but Lose Promise to Home Care

In terms of end users of IVIG infusion therapy and products, the global IVIG market is segmented into hospitals, clinics, and home care settings. Of these, the hospitals segment is presently the dominant end user of the intravenous immunoglobulin (IVIG) market. A continuous rise in the number of patients opting for hospitals rather than clinics is the major driver of the hospitals segment. High budgetary expenditure, rising government investment, and better reimbursement policies also augment the number of patients opting hospitals for intravenous immunoglobulin (IVIG) therapies.

IVIG infusion therapy is a time consuming procedure, in which the infusion takes place at a slow rate and lasts for a long period of time. This factor is also expected to increase consumer preference to home care settings for treatment. Although the hospitals segment will continue to lead the global IVIG market, the rising inclination to home care is expected to make home care the most lucrative end-user segment of the intravenous immunoglobulin (IVIG) market over the forecast.

Market in North America to Continue to Remain Highly Lucrative

North America is presently the dominant regional market for intravenous immunoglobulin (IVIG) and is likely to witness significant growth during the forecast period as well. In the U.S., North America’s most lucrative IVIG market, the demand for IVIG infusion therapy is driven by the country’s strong economy, advancements in technology, abundant plasma supply, and rising prevalence of immunological disorders. Other factors ascribable to market growth include the favorable reimbursement policies, high investments in research and development, and increasing geriatric population in the country.

FDA’s approval for payments to plasma donors to encourage plasma donation and boost yield is another major factor driving the IVIG market in the U.S. This has helped the country to not only become self-sufficient in plasma supply, but also a major exporter of plasma derived products globally, consecutively strengthening the North America market.

The IVIG market in Europe is also witnessing strong growth owing to increasing patient pool and geriatric population. Higher acceptance of innovative technologies and launch of new products in the region are also driving the IVIG market. Additionally, the ongoing clinical development of new products is anticipated to boost market growth during the forecast period. Asia Pacific is expected to be a promising market for intravenous immunoglobulin (IVIG) due to developing economies and presence of large underserved patient population. The number of patients suffering from immunological diseases is also high in the region, naturally increasing the demand for intravenous immunoglobulin products and therapies.

Some of the key vendors operating in the highly consolidated global IVIG market are Baxalta Incorporated, Biotest AG, CSL Behring LLC, China Biologic Products, Inc., Grifols S.A., LFB Biomedicaments S.A., Kedrion S.p.A., Octapharma AG, and Sanquin Plasma Products B.V.

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Global Electrosurgical Devices Market: Snapshot

With the changing face of medical field since the last decade, triggered by an immense rise in technological advancements and rising healthcare expenditure across the globe, a large number of surgical procedures are making the shift from traditional ways to minimally invasive techniques. This is considered to be one of the key factors to have boosted the global adoption of electrosurgical devices of late. Electrosurgical products such as radiofrequency electrosurgery devices, eletrocautery devices are currently being extensively used for purposes such as cutting, desiccation, ablation, vaporization, and charring of target tissue.

Transparency Market Research estimates that the adoption of these products will continue to rise at a promising pace owing to the rising geriatric population, increasing prevalence of chronic diseases, and the resultant rise in demand for effective surgical procedures. The global market for electrosurgical devices is expected to exhibit a healthy 6.7% CAGR over the period between 2016 and 2024. Owing to this, the market will rise from a valuation of US$4,480.8 mn in 2015 to US$7,963.2 mn by 2024.

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electrosurgical devices marketElectrosurgical Accessories to Continue to Account for Lion’s Share in Market Revenue
In terms of product, the electrosurgical devices market has been segmented into radiofrequency electrosurgery devices, electrocautery devices, and electrosurgical accessories in the report. The segments of radiofrequency electrosurgery devices and electrocautery devices are further divided in to monopolar devices and bipolar devices.

The segment of radiofrequency electrosurgery devices, which had a valuation of US$923.6 mn in 2015, accounting for a relatively smaller share in the market as compared to the segments of electrocautery devices and electrosurgical accessories in 2015, will exhibit growth at the most promising pace from 2016 through 2024. Transparency Market Research estimates that the segment will expand at a favorable 7% CAGR over the said period, chiefly owing to their rising usage for the treatment of dermatological lesions, both benign and malignant.

On a whole, the segment of electrosurgical accessories is expected to emerge as the most attractive product segment in the electrosurgical devices market in terms of value and revenue contribution, exhibiting the attractiveness index of 1.6 and a 6.9% CAGR from 2016 to 2024. The segment held a dominant share of 53% in the global electrosurgical devices market in 2015 and is expected to maintain its leading stance over the forecast period as well. Technical innovations, new product launch in this field and increasing use of disposable accessories will drive the growth of electrosurgical accessories segment during the forecast period of 2016-2024.

In terms of geography, North America is presently the most attractive regional market for electrosurgical devices. Several encouraging factors such as the rising number of surgical procedures, rising numbers of mergers and acquisitions, and easy availability of new and innovative product varieties are acting in favor of the electrosurgical devices market in North America. A large base of geriatric and obese population facing cardiac, orthopedic, and many other chronic problems and the rising incidence of cancer are also anticipated to drive the market in this region in the next few years.

The North America market will continue to exercise control over the global market over the forecast period as well, thanks to the high concentration of medical device manufacturers and rising investment aimed at research and development. Nevertheless, North America will lose prominence to Asia Pacific in terms of growth pace from 2016 through 2024.

The market for electrosurgical devices in Asia Pacific is expected to expand at a 7.7% CAGR over the said period. Improved healthcare infrastructure and rising healthcare spending by government are expected to increase adoption of electrosurgical devices in this region. Asia Pacific holds immense potential in the electrosurgical devices market also due to rising population, high unmet medical needs, and rise in health care-related customer expectations due to improved economic conditions.

Key players in this market are as follows Bovie Medical Corporation, Medtronic, B. Braun Melsungen AG, Erbe Elektromedizin GmbH, Boston Scientific Corporation, Olympus, Johnson & Johnson, Symmetry Surgical Inc., CONMED, KLS Martin and BOWA-electronic GmbH & Co. KG.

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Transparency Market Research (TMR) is a market intelligence company, providing global business information reports and services. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insight for thousands of decision makers. We have an experienced team of Analysts, Researchers, and Consultants, who us e proprietary data sources and various tools and techniques to gather, and analyze information. Our business offerings represent the latest and the most reliable information indispensable for businesses to sustain a competitive edge.

Each TMR Syndicated Research report covers a different sector – such as pharmaceuticals, chemical, energy, food & beverages, semiconductors, med-devices, consumer goods and technology. These reports provide in-depth analysis and deep segmentation to possible micro levels. With wider scope and stratified research methodology, our syndicated reports thrive to provide clients to serve their overall research requirement.

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The global oil storage market is considerably consolidated as the top five players, namely NuStar Energy L.P., Buckeye Partners L.P., Oiltanking GmbH, Kinder Morgan Inc., and Royal Vopak N.V. held over 67% of global market in 2014. Transparency Market Research (TMR) has estimated that the degree of competition will escalate due to increasing investments by some of the key market players. The threat from new entrants is expected to remain moderate in the coming years. To gain a stronger foothold, various companies are undertaking strategic collaborations and are involving in joint ventures, acquisitions, mergers, partnerships, and are searching for strategic alliances. These strategies are allowing the players to expand their crude oil storage infrastructure and terminal networks, and raise funds for the development of storage facilities and to build new pipelines. For instance, Kinder Morgan, an energy infrastructure company in North America acquired Hiland Partners for US$3 bn in February 2015, to enhance storage and terminal infrastructure across North America.

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In the report, Transparency Market Research has estimated that in 2014 the market stood at 1,337 million cubic meter based on volume, which is expected to reach the value of 2,027 million cubic meter by end of 2024, expanding at a steady CAGR of 4.73%.

Geographically, the Middle East and Africa holds a dominating position in the global market owing to the contribution of countries such as Nigeria, Qatar, Oman, UAE, Iran, and Saudi Arabia. This region is expected to grow with a healthy CAGR of 7.91% between 2014 and 2024.

Demand for Steady Supply of Oil and Petroleum boosts the Market

Decline in crude oil prices is one of the prominent factors resulting in growth of the global oil storage market. The unpredictable variations in global rates of natural gases and crude oil are motivating numerous vendors to own high qualities of petroleum fuel and reserve them at storage facilities. This practice allows them to sell their stored fuel when the prices increases, which enables them to relish high profits. Furthermore, as changing prices of crude oil affects various product prices such as lubricants and gasoline, this trend of supplying crude oil at the period of high profit is being followed by numerous vendors. The other trend that has garnered significant traction to the global oil and gas storage is the increase in adoption of alternative fuels for cleaner and greener shipping. Emergence of Liquefied Natural Gas (LNG) powered marine containers due to increasing LNG projects is expected to expand the oil storage market further.

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Increasing Inventory Cost Could Hamper Market Growth of Oil Storage

Various national and international regulations have resulted in decline in the exploration and production activities of crude oil. These regulations are further supported by several environmental organizations. Such regulations aimed at reducing activities related to fossil fuels is resulting in decrease in production investment in this market. Furthermore, reduced consumption of fossil fuels and increasing inventory have remained key concerns for the vendors. All these trends could hamper the growth of the overall oil storage market. Nevertheless, expansion of the strategic petroleum reserves segment due to increasing investments is expected to help the market grow at a positive rate over the forecast period. Furthermore, factors such as high degree of product containment, increase in import or distribution type facilities, and the growth in need for mega refining hub are most likely to bolster the global oil storage market.

This information is taken from the report, “Oil Storage Market (Storage – Open Top Tanks, Fixed Roof Tanks, and Floating Roof Tanks; Product – Crude Oil, Gasoline, Aviation Fuel, and Middle Distillates; Reserve – Strategic and Commercial) – Global Industry Analysis, Size, Share, Growth Trends, and Forecast 2016 – 2024.”

This market can be segmented for the categories –

Oil Storage Market – Type of Storage Segment Analysis

Open Top Tanks
Fixed Roof Tanks
Floating Roof Tanks
Other Storage Facilities

Oil Storage Market – Product Type Segment Analysis

Crude Oil
Gasoline
Aviation Fuel
Middle Distillates

Oil Storage Market – Reserve Type Segment Analysis

Strategic Petroleum Reserve
Commercial Petroleum Reserve

About Us

Transparency Market Research (TMR) is a market intelligence company, providing global business information reports and services. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insight for thousands of decision makers. TMR’s experienced team of analysts, researchers, and consultants, use proprietary data sources and various tools and techniques to gather, and analyze information. Our business offerings represent the latest and the most reliable information indispensable for businesses to sustain a competitive edge.

Each TMR syndicated research report covers a different sector – such as pharmaceuticals, chemicals, energy, food & beverages, semiconductors, med-devices, consumer goods and technology. These reports provide in-depth analysis and deep segmentation to possible micro levels. With wider scope and stratified research methodology, TMR’s syndicated reports strive to provide clients to serve their overall research requirement.

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Dental Membrane and Bone Graft Substitutes Market: Snapshot

The global market for dental membranes and bone graft substitutes is poised to present a remarkable incremental opportunity over the course of the forecast period, driven by the rising incidence in dental diseases and a constant increase in geriatric population.

The first half of the forecast period will prove to be moderately challenging for the dental membrane and bone graft substitutes market owing to the fact that products by several companies will have reached a phase of maturity. However, by 2020, new products and materials are expected to enter the market, presenting strong scope for future growth.

Exhibiting a strong CAGR of 9.3% during the forecast period, the dental membrane and bone graft substitutes market is expected to rise from a value of US$419 mn in 2015 to US$922.6 mn by 2024.

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Dental Clinics Enjoy Preference over other End Users

Based on product, the global market has been bifurcated into dental membrane and bone graft substitutes. Bone graft substitutes account for the dominant share in the market. Within this segment, allograft holds a strong position owing to easily acceptance by the body and its biocompatibility. Resorbable membranes take the lead in the dental membranes market.

Dental clinics are the leading end users of dental membranes and bone graft substitutes, accounting for a 50.9% share by 2024. Dental clinics are convenient, easy to access, and are preferred by patients for minor dental problems. This is expected to enable the segment to register a high growth rate by the end of 2024.

By material, the dental membrane and bone graft substitutes market is segmented into hydrogel, collagen, polytetrafluoroethylene (PTFE), human cells source, other species, hydroxyapatite (HA), and tricalcium phosphate (TCP). Human cells sources hold the dominant share with an estimate share of 56.0% in 2015.

Europe Takes the Lead in Global Dental Membrane and Bone Graft Substitutes Market

Europe dominates the global dental membrane and bone graft substitutes market, with a share of 27.8% in 2016. Rapid innovation in technology, increasing geriatric population, and high R&D expenditure are attributed to the growth of this market. According to the European Federation of Periodontology, around 30% of the population in Europe suffers from periodontal disease. These factors collectively drive the dental membrane and bone graft substitutes market in the region.

North America is also a key market for dental membrane and bone graft substitutes. According to the American Academy of Periodontology, approximately 64.7 million Americans have periodontitis. The region also has the highest prevalence of dental diseases among children, which presents an increase in the number of patients requiring dental treatment. This, in turn, drives the demand for dental membrane and bone graft substitutes.

Asia Pacific is anticipated to exhibit strong growth in the coming years. According to the UN, Japan has the highest geriatric population. Older people have a higher susceptibility to dental diseases, which is likely to increase the demand for dental membrane and bone graft substitutes. Growing awareness regarding oral health in countries such as China and India is also likely to support APAC market.

Key companies in the dental membrane and bone graft substitutes market include Geistlich Holding, Zimmer Dental Inc., Integra LifeSciences Corp, DENTSPLY Implants, Institut Straumann AG, BioHorizons IPH, Inc., Osteogenics Biomedical, Nobel Biocare, Implant Direct LLC., Collagen Matrix, NovaBone India, and Maxigen Biotech Inc.

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Transparency Market Research (TMR) is a market intelligence company, providing global business information reports and services. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insight for thousands of decision makers. We have an experienced team of Analysts, Researchers, and Consultants, who us e proprietary data sources and various tools and techniques to gather, and analyze information. Our business offerings represent the latest and the most reliable information indispensable for businesses to sustain a competitive edge.

Each TMR Syndicated Research report covers a different sector – such as pharmaceuticals, chemical, energy, food & beverages, semiconductors, med-devices, consumer goods and technology. These reports provide in-depth analysis and deep segmentation to possible micro levels. With wider scope and stratified research methodology, our syndicated reports thrive to provide clients to serve their overall research requirement.

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Countries in Asia Pacific have witnessed a massive change in their respective healthcare infrastructures and number of resources trained in the use of technologically advanced medical devices in the past few years, leading to the vast rise in the usage of advanced endoscopy devices. The rising geriatric population, rising disposable incomes, increased healthcare infrastructure, and an increased awareness regarding the benefits of minimally invasive devices has also accelerated demand for endoscopy devices in Asia Pacific in the recent past.

Transparency Market Research estimates that the market will tread along a healthy growth path and exhibit a 7.6% CAGR from 2016 through 2024. The market, which had a valuation of US$7.76 bn in 2015, is expected to rise to US$14.8 bn by 2024.

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Endoscopy Visualization Systems to Remain Dominant Product Variety

A variety of endoscopes, endoscopic operating devices, and visualization systems required for endoscopy procedures come under the purview of the endoscopy devices market. Of these, the segment of visualization systems presently leads the Asia Pacific endoscopy devices market in terms of revenue, accounting for over 46% of the market’s overall revenues in 2015. Factors such as strengthening economies, rising population of affluent patients, and rising expenditure on health and wellness have enabled the increased adoption of costly and technologically advanced endoscopy visualization products across healthcare settings in the region in the past few years. The segment is expected to expand at an excellent pace over the forecasting horizon as well, retaining its dominant stance across key product varieties.

Of the key types of endoscopy visualization systems available in the Asia Pacific endoscopy devices market, the segment of high definition (HD) visualization systems is the leading product variety. The segment accounted for nearly 73% of the overall endoscopy visualization systems market in Asia Pacific in 2015.

Laparoscopy Surgeries Lead to Highest Demand for Endoscopy Devices

Collectively, gastrointestinal, cardiovascular, and arthroscopy surgeries accounted for the leading share in the Asia Pacific endoscopy devices market in 2015. On an individual level, however, the segment of laparoscopy surgeries leads in terms of revenue in the Asia Pacific endoscopy devices market. The segment accounted for a 33% share in the overall market in 2015.

The vast rise in the number of surgeries such as hernia repairs, antireflux, cholecystectomy, and appendectomy and the emphasis on noninvasive surgical procedures are key to the high contribution of laparoscopy surgeries to the market’s revenues. Expanding at a 9.1% CAGR, the laparoscopy surgeries segment is expected to remain one of the leading individual contributors to the market’s revenues from 2016 through 2024 as well.

Despite Low Population, Japan Emerges as Most Lucrative Market for Endoscopy Devices

Japan was a key revenue contributor to the Asia Pacific endoscopy devices market in 2015, accounting for a more than 35% of revenue. High disposable incomes, rapidly rising geriatric population, and increased adoption of minimally invasive devices were the key forces driving the endoscopy devices market in Japan in the past few years. However, the mature market is expected to witness stagnant growth in the near future and lose its prominence to countries such as India and China.

The market for endoscopy devices is expected to witness expansion at a strong pace in China, at an estimated CAGR of 9.9% over the period between 2016 and 2024, among the most prominent countrywide markets for endoscopy devices in Asia Pacific. The China endoscopy devices market is expected to rise to a valuation of US$5.58 bn by 2024.

Some of the leading vendors in the highly fragmented market are Boston Scientific Corporation, Ethicon Endo-Surgery, Inc., Arthrex, Inc., Fujifilm Holdings Corporation, Intuitive Surgical, Inc., Cook Medical, Inc., KARL STORZ GmbH & Co. KG, HOYA Corporation, Stryker Corporation, Olympus Corporation, Medtronic plc, and Smith & Nephew plc.

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Transparency Market Research (TMR) is a market intelligence company, providing global business information reports and services. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insight for thousands of decision makers. We have an experienced team of Analysts, Researchers, and Consultants, who us e proprietary data sources and various tools and techniques to gather, and analyze information. Our business offerings represent the latest and the most reliable information indispensable for businesses to sustain a competitive edge.

Each TMR Syndicated Research report covers a different sector – such as pharmaceuticals, chemical, energy, food & beverages, semiconductors, med-devices, consumer goods and technology. These reports provide in-depth analysis and deep segmentation to possible micro levels. With wider scope and stratified research methodology, our syndicated reports thrive to provide clients to serve their overall research requirement.

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Global Orthopedic Braces & Support, Casting, and Splints Market: Snapshot

The orthopedic braces and support, casting and splints are finding takers fast owing to patients increasingly seeking better quality of life. This coupled with increasing number of sports injuries has provided a substantial fillip to the market. The latter has resulted in the swift uptake of foot and ankle devices, in particular. In fact, the American Academy of Orthopedic Surgeons (AAOS) finds that about a quarter of sports injuries are caused in the ankle and foot.

Yet another factor majorly boosting the global market for orthopedic braces and supports, casts, and splints is the burgeoning geriatric population and alarming rise in obesity. The elderly population is highly susceptible to bone disorders such as arthritis, osteoporosis, and back pain. The obese are also at increased risk of bone disorders owing to excessive body weight putting severe pressure on the joints in the lower extremity.

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Some of the key companies operating in the market are Prime Medical, Zimmer Biomet Holdings, Inc., 3M Healthcare, Össur Hf, DJO, LLC, and Stryker Corporation. The global orthopedic braces and support, casting, and splints market was worth US$4.6 bn in 2015 and expanding at a CAGR of 6.4% during 2016 and 2024, it is slated to reach US$7.9 bn by 2024.

Easy Treatment Options Buoy the Orthopedic Clinics Segment

Based on distribution channels in the global market for orthopedic braces and support, casting, and splints, the orthopedic clinics segment leads. This is because orthopedic clinics are mostly preferred for treatment of bone disorders. Going forward, the segment is predicted to retain its dominance due to treatment specificity and diversity in product availability. In terms of growth rate, the ecommerce and hospital segment are also expected to rise at a healthy clip.

Product-wise, orthopedic braces and support segment leads the market. The product segment is slated to clock healthy growth in the near future to account for well over half the market share in 2024. The demand for braces is predicted to rise because of the rising instances of obesity. In close collaboration with doctors and orthopedic technicians, manufacturers are coming up with more cutting-edge products and product concepts which have a much better effect in supporting and improving immobility.

Substantial Number of People Ailing from Osteoporosis and Osteopenia Propels Market in North America

North America leads the global orthopedic braces and support, casting, and splints market with maximum share. In the near future too, it is slated to retain its leading position on the back of a sizeable proportion of the population suffering from bone disorders such as osteoporosis and osteopenia. Other factors propelling the market in the region are a robust network of clinics and hospitals in the U.S. and continued technological progress in the healthcare industry.

The market in Asia Pacific is also forecasted to grow at healthy clip – a CAGR of 7.3% during 2016 and 2024. It is considered one of the most attractive markets because of the growing accessibility to essential healthcare services, rising awareness regarding available treatment options, and increased expenses on healthcare services. India is a key economy powering the growth in the market in Asia Pacific. The swift pace of urbanization and robust policy support by the government along with improving healthcare conditions is driving impressive growth in the Asia Pacific market. Other developing countries in the region are also prompting corporate hospitals to provide enhanced facilities in the orthopedic segment, thereby significantly filliping the Asia Pacific market.

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Transparency Market Research (TMR) is a market intelligence company, providing global business information reports and services. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insight for thousands of decision makers. We have an experienced team of Analysts, Researchers, and Consultants, who us e proprietary data sources and various tools and techniques to gather, and analyze information. Our business offerings represent the latest and the most reliable information indispensable for businesses to sustain a competitive edge.

Each TMR Syndicated Research report covers a different sector – such as pharmaceuticals, chemical, energy, food & beverages, semiconductors, med-devices, consumer goods and technology. These reports provide in-depth analysis and deep segmentation to possible micro levels. With wider scope and stratified research methodology, our syndicated reports thrive to provide clients to serve their overall research requirement.

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The frontrunners in the global surface disinfectant market, according to a report by Transparency Market Research (TMR), are Procter & Gamble, Johnson & Johnson Services Inc., Henry Schein, Kimberly-Clark, 3M, and DuPont. Some other key players that largely operate in regional markets are GOJO Industries, Clorox, Cantel, and Ecolab.

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According to the TMR report, the global surface disinfectant market is expected to expand at a healthy CAGR of 10.4% between 2016 and 2024. If the figure holds true, the market which stood at US$802.9 mn in 2016 will become worth US$1.77 bn by 2024.

Sodium Hypochlorite-based Products to continue to stay in Demand

By product, sodium hypochlorite-based surface disinfectants hold the leading market share in terms of volume, followed by phenol-based products. The low price factor along with relatively stable nature of sodium hypochlorite-based products account for their leading share in the market.

On the other hand, quaternary ammonium compounds and peracetic acid-based products are likely to display significant growth over the forecast period.

In terms of application, hospitals & clinics and outpatient surgical centers are the major end-use segments of surface disinfectants. Over the forecast period, however, the segment of restaurants and food chains is expected to surpass in terms of growth rate, followed by the households segment.

Enforcement of Cleanliness and Hygiene Standards for Commercial Establishments Pushes uptake in Emerging Economies

Of the several growth drivers of the global surface disinfectant market, increasing awareness about cleanliness and hygiene generally among the population and state authorities is a prominent one. This has resulted in increased spending on cleanliness at individual level and at state level. Another important factor favoring the growth of the surface disinfectant market is regulatory requirements in place for cleanliness and hygiene that commercial establishments, especially food services need to adhere to. For example, the food and dairy industry is displaying an increased demand for these products.

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The increasing education level and rising economic prosperity in emerging economies of Asia Pacific, Latin America, and the Middle East and Africa is also working in favor of the surface disinfectant market. Individuals are increasing recognizing the importance of cleanliness at homes and at workplaces and are using disinfectants to prevent germs from breeding. The expanding construction industry in emerging economies, leading to the development of residential complexes and commercial buildings is also displaying substantial demand for surface disinfectant products.

The increasing number of restaurants and food chains in developing regions backed by economic development, and hygiene and cleanliness standards that the service industry need to comply to is acting as a growth driver to the market. The increasing disposable income in these regions that has raised affordability of a high percentage of population to visit upscale hospitals, clinics is also having a positive bearing on the growth of surface disinfectant market.

Proving to act as a barrier to the growth of surface disinfectant market is highly reactive nature of some chemical formulations, which is limiting their use. Moreover, the relentless use of these products has resulted in several microorganisms developing resistance to the products. This factor has affected sales in mature markets of North America and Europe that have been using surface disinfectants for a long time and on a large scale.

The global surface disinfectant market is segmented as follows:

Surface Disinfectant Market: Product Analysis

Sodium Hypochlorite
Phenols
Quaternary Ammonium Compounds (QACs)
Hydrogen Peroxide
Peracetic Acid
Biguanides
Amphoterics
Aldehydes

Surface Disinfectant Market: Type Analysis

Liquids
Sprays
Wipes
Others

Surface Disinfectant Market: Application Analysis

Hospitals & Clinics
Outpatient Surgical Centers
Restaurants & Food Chains
Households
Others

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