The global Surface Disinfectant market is projected to reach USD 1,251.6 million by 2024 from USD 836.7 million in 2019, at a CAGR of 8.4% from 2019 to 2024. The growth of this market is majorly driven by the presence of stringent regulations governing their application and usage. Technological advancements in disinfectant types and techniques have also ensured overall demand among end users. The growth of the end-user base for disinfectants in emerging nations are expected to offer significant opportunities for companies in this market in the coming years. However, the development of alternatives to surface disinfectants, although currently expensive, may challenge market growth post their commercialization.
In 2019, the global Surface Disinfectant market was dominated by 3M Company, Cantel Medical Corporation, Procter &Gamble, Reckitt Benckiser Group plc., The Clorox Company, Ecolab, and Diversey Inc. A few of the major strategies adopted by these players to compete in the market include product launches, partnerships, and agreements which were undertaken between 2018 and May 2020. There were also a significant number of mergers & acquisitions during this period.
3M is one of the best surface disinfectant manufacturer It majorly focuses on innovations and product launches to sustain its leading position in the market. The company recently launched a 3M Curos Stopper Disinfecting Cap to protect the intraluminal vascular access points from contamination. The company offers a wide range of products, which include 3M Surface Disinfectant Wipe and 3M Glutarex. The long-term presence of the company in the market with its significant presence across major countries provides it with an additional edge over its competitors. The company also focuses on acquisitions to enhance its presence in the market. 3M acquired Ivera Medical Corporation (US) to strengthen its surface disinfectants portfolio.
Cantel Medical is one of the leading manufacturers in the surface disinfectants market. It offers Actril Cold Sterilant and Minncare Cold Sterilant disinfectant products. The company offers its products in more than 100 countries. Cantel adopts inorganic growth strategies in order to sustain its leadership in the surface disinfectants market. The company recently acquired Diploma Canada’s endoscope reprocessing business assets, which is expected tohelp in its direct sales operations in Canada. The company expanded its presence in the Asia Pacific region by opening its direct sales office in Australia.
The Clorox Company focuses on organic strategies, such as innovations and product launches to increase its share in the surface disinfectants quadrant. Recently, the company launched its Fuzion Cleaner Disinfectant, CLOROX Healthcare Hydrogen Peroxide Cleaner Disinfectants, and Optimum-UV Systems. The company provides brands such as CLOROX healthcare bleach germicidal wipes, CLOROX healthcare bleach germicidal cleaners, and CLOROX Scentiva disinfecting wipes to further enhance its share in the market. With the shift towards the use of hydrogen peroxide and per acetic acid-based formulations along with the increasing adoption of disinfectant wipes, the company is well-positioned to emerge as one of the leaders in the surface disinfectants market during the forecast period. This is observed through its range of new products based on wipes and hydrogen peroxide formulations.