Surface Disinfectant Market Worth $1.12 Billion, Globally, by 2027 at 8.03% CAGR: Verified Market Research

JERSEY CITY, New Jersey, May 20, 2020 /PRNewswire/ -- Verified Market Research recently published a report, "Surface Disinfectant Market by Formulation (Liquid, Wipes, Spray), by Type (Quaternary ammonium compounds, Chlorhexidine gluconate, Phenolic compounds, Alcohols, Aldehydes), by Applications (In-House applications, Instrument disinfection), by End User (Hospital, Clinical laboratories, Pharmaceutical companies)". According to the report, the Global Surface Disinfectant Market was valued at $0.61 Billion in 2019 and is projected to reach $1.12 Billion by 2027, growing at a CAGR of 8.03% from 2020 to 2027.

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Global Surface Disinfectant Market Overview

One of the major factors rising the demand for surface disinfectants is growing awareness about hygiene, health and safety. Numerous campaigns are launched across the globe to encourage health and hygiene and raise awareness of healthy habits such as daily washing of hands, safe drinking practices and use of a toilet for defection. Furthermore, The Americas is the major contributor in the surface disinfectant market partly due to the prevalence of chronic diseases treatment and its research as well as the rising older population in the Americas. The American Chronic Diseases Society reported that more than 60% of all chronic diseases in the United States occur in patients that are older than 65. Increasing instances of infectious and contagious diseases have posed the need for surface disinfection in hospitals, especially within healthcare workers

Surface Disinfectant Market by Formulation

Based on Formulation, the market is bifurcated into Liquids, Wipes, and Sprays. Liquid segment accounted for the largest market share in 2019 and are projected to grow at a CAGR of 6.62% during the forecast period. Liquid segment holds the considerable share in the global surface disinfectants market over the forecast timeframe. This can be credited to widespread use of liquid surface disinfectants in hospital cleanliness on daily basis, high adoption of these disinfectants for cleaning bathroom surfaces, and home care settings

Surface Disinfectant Market by Type

Based on Type, the market is bifurcated into Quaternary Ammonium Compounds, Chlorhexidine Gluconate, Phenolic Compounds, Alcohols, Aldehydes, and Other Surface Disinfectants. Alcohols segment accounted for the largest market share in 2019 and is projected to grow at a CAGR of 7.81% during the forecast period. Ethyl alcohol and isopropyl alcohol are extensively utilized as low-level disinfectants in all types of healthcare settings for several years.

Surface Disinfectant Market by Applications

On the basis of Applications, the Global Surface Disinfectant Market has been segmented into In-House Application, Instrument Disinfection, and Other Applications. In-House Applications accounted for the largest market share in 2019 and is projected to grow at the highest CAGR of 10.24% during the forecast period. Instrument Disinfection was the second-largest market in 2019 and it is projected to grow at a CAGR of 5.46%.

Surface Disinfectant Market Competitive Landscape

The "Global Surface Disinfectant Market" study report will provide a valuable insight with an emphasis on the global market including some of the major players such as Procter & Gamble, 3M Company, Ecolab, Reckitt Benckiser Group PLC, The Clorox Company, and Others.

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