Bio-Decontamination Market: Global Market Estimation, Dynamics, Regional Share, Trends, Competitor Analysis (2017-2021) and Forecast (2022-2028)

Description

The bio-decontamination market is anticipated to be valued at USD 191.6 million in 2021 and is expanded to grow at a significant CAGR of 4.9% over 2022-2028. A prominent reason driving the growth of the bio-decontamination market is an increase in the number of surgical procedures due to an increase in the number of road accidents and an increase in the frequency of chronic diseases such as cancer, orthopedic disorders, and neurological diseases. For instance, according to a research study, approximately 313 million procedures are undertaken worldwide each year, of which about 6% occur in the poorest countries. Moreover, about 143 million additional surgical procedures are needed in low- and middle-income countries each year to save lives and prevent disability. Bio decontamination is becoming more popular than other processes since it is less expensive and addresses viral decontamination of items by bacteria or fungi and the hazardous by-products of these microorganisms. The industry’s expansion will be aided by advances in the biopharmaceutical sector. Expansion of business into emerging economies in Asia Pacific region create lucrative opportunities for the market players over the forecast years. Expansion of business into emerging economies in Asia Pacific region creates lucrative opportunities. In 2020, the consumables segment accounted for a larger revenue share and was projected to grow with a CAGR of 4.8% from 2022 to 2028 to reach USD 141.3 Mn by 2028. The segment’s high market share is primarily due to the launch of new equipment’s which doesn’t require proprietary consumables in the market. Based on agent type, hydrogen peroxide is expected to grow at a high CAGR over the forecast period.

Recent Market Developments:

In September 2021, Steris has launched the next generation of its vaporized hydrogen peroxide (VHP) biodecontamination systems to achieve 6-log bioburden reduction in good-manufacturing-practice pharmaceutical, medical device, and research environments.

In May 2021, FPS Food and Pharma Systems S.R.L, an Italian company specialised in the design and manufacture of containment & isolation and micronization solutions for the handling and production of active and sterile pharmaceutical ingredients, has established a strategic partnership with Amira to meet the new technology request for the biodecontamination of sterile isolators.