The total value of the global bio decontamination market was USD 171.4 million in 2022, and it will rise at a growth rate of above 7.0% shortly, reaching USD 294.7 million by 2030. The market growth can be credited to the growing occurrence of HAIs, the rising count of operating procedures, and development in the biotechnology and pharmaceutical industry.
In 2022, the equipment category had the largest share, at approximately 55%. This is primarily because of the existence of numerous pieces of equipment and the advantages related to them. For example, In the pharmaceutical and medical sectors, washer disinfectors are regularly utilized to either clean objects before use or to make reusable goods (like surgical tools) for additional sterilization.
Healthcare-associated infections (HAIs) in U.S. hospitals significantly augmented in the past few years of reduction, mainly because of the epidemic. Substantial upsurges in rates of central line-associated bloodstream infections, ventilator-associated events, and catheter-associated urinary tract infections were witnessed in 2020 compared to 2019, mainly in the second half of the year. Before 2020, there was a decline in HAI rates in U.S. infirmaries, which has been associated with better infection stoppage and control practices.
The rising healthcare industry is the key opportunity for the bio-decontamination sector. Healthcare innovators have advanced inexpensive genomic sequencing that can aid in guiding modified cancer treatments, AI algorithms that can study chest X-rays and also or better than radiologists, and substantial improvements in populace health management via big data and analytics. Despite the unparalleled burdens that COVID-19 has placed on the healthcare sector, the industry's response has expressively shown its resiliency and capacity to quickly bring items to the industry.
In 2022, North America dominated the industry with approximately 45% bio decontamination market share. This can be credited to the reasons like growing HAIs occurrences and medical procedures and the existence of key industry companies. The key factor for augmented operating procedures is the growing occurrence of cancer. In the U.S. and Canada, cancer is the second-foremost reason for deaths, behind heart illness. While lung cancer is the most dominant reason for cancer demise in both sexes, prostate and breast cancer are the most identified cancers in women and men, respectively.
Due to risky behaviors being predominant in both Canada and the U.S. signs of cancer incidence are similar in both nations. Cancers associated with contagions have a low occurrence but cancers associated with "Westernization" of lifestyle have a high occurrence. For example, colorectal cancer has the utmost occurrence in North America.
Hence, the growing occurrence of HAIs, rising count of operating procedures, and development in the biotechnology and pharmaceutical industry are the major factors propelling the bio-decontamination market.
SOURCE: PS Intelligence
