Key Factors Driving Market Growth:
The rising incidence of hospital-acquired infections (HAIs), growth in the pharmaceutical and biotechnology industries, and increasing outsourcing of bio decontamination services are factors driving the growth of the Bio Decontamination Industry.
Revenue Growth Analysis:
The Bio Decontamination Market is projected to reach USD 175 million by 2024 from USD 130 million in 2019, at a CAGR of 6.1%.
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The equipment segment commanded the largest share of the Bio Decontamination Market in 2019.
On the basis of product & service, the Bio Decontamination Equipment Industry is segmented into equipment, consumables, and services. In 2018, the equipment segment accounted for the largest market share of Decontamination Equipment Market. The launch of new and advanced instruments, portability, and the reduced need for manual intervention are key factors driving the growth of this segment.
Hydrogen Peroxide to dominate the Bio Decontamination Market in 2019.
On the basis of agent type, the Bio Decontamination Equipment Market is segmented into hydrogen peroxide, nitrogen dioxide, chlorine dioxide, and peracetic acid. In 2018, the hydrogen peroxide segment accounted for the largest share of the Bio Decontamination Industry. The advantages offered by hydrogen peroxide, such as material compatibility and safety with minimum residue, are the major factors contributing to its dominance in the Bio Decontamination Sector.
North America commanded the largest share of the Bio Decontamination Market in 2019.
On the basis of region, the Bio Decontamination Equipment Market is segmented into North America, Europe, Asia Pacific, and the Rest of the World. In 2018, North America commanded the largest share of the Bio Decontamination Industry. The large share of this regional segment can be attributed to the growing demand for bio decontamination technologies from the healthcare industry to minimize the occurrence of hospital-acquired infections and the presence of major players in the region.
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The major players operating in this market are STERIS (US), Ecolab, Inc. (US), TOMI Environmental Solutions, Inc (US), JCE Biotechnology (France), Fedegari Autoclavi SpA (Italy), Zhejiang Tailin Bioengineering Co., Ltd. (China), Noxilizer, Inc. (US), Howorth Air Technology Limited (UK), Wenzhou Weike Biological Laboratory Equipment Co., Ltd. (China), ClorDiSys Solutions Inc. (US), and Amira S.r.l. (Italy).
