According to FutureWise analysis the market for Bio Decontamination in 2023 is US$ 0.24 billion, and is expected to reach US$ 0.43 billion by 2031 at a CAGR of 7.50%.
The surge in the volume of surgical procedures on a global scale is predicted to augment the bio contamination market growth during the forecast time span. Key factors in the growing patterns of surgical procedures includes road-related accidents as well as the growing presence of chronic diseases which require surgical interventions are instrumental in the ever growing surgical procedures. Only after decontamination in surgical instruments, will they be deemed safe enough to reuse. A lack of safety measures undertaken decontamination of these devices can cause life threatening illnesses such as infections acquired in hospitals. Due to this, there is a high demand for products and services that are pertinent to bio decontamination and such a demand is projected to increase with a rise in surgical procedures.
Market trends indicate that there is a need to outsource these services. As certain companies do not have the appropriate resources to perform contamination services, they enlist the help of outsourcing from other companies to enact contamination practices while carrying out their primary goals. Furthermore, outsourcing companies offer efficient services as they are fully equipped in bio contamination. Such factors are likely to catapult the market growth to great heights in the forecast period. However, certain drawbacks such as the lack of financial resources could negatively impact the potential growth of the market.
Going by the end user, the market for market is divided into various segments which includes biotechnology research,life sciences organizations, medical device manufacturing and pharmaceutical companies and healthcare facilities hospitals. The medical device manufacturing pharmaceutical companies are poised to hold the largest bio decontamination market share because of the rising acceptance of bio decontamination services products by medical device manufacturing and pharmaceutical companies to comply with strict regulations.
The market for bio-pharma companies registered to capture considerable market share owing to increased use of bio decontamination products to maintain a clean atmosphere. However, the end results are primarily subject to efficient environmental monitoring and surveillance as well as stringent application in aseptic processing. Also, the availability of various decontamination tools aids in offering the specific requirements of the bio-pharma companies which is likely to propel the market growth. Segmentation-wise, bio contamination equipment projected to see growth in the future. The availability of technologically advanced bio decontamination devices with least manual usage and heightened efficiency will increase in acceptance in biopharma companies and healthcare institutions. In addition, major industry players are enacting certain measures in the enhancement of superior equipment to serve the requirements of the consumers.
In the case of chamber decontamination segment, this is one such segment that is anticipated to expand the bio decontamination market size. This is primarily because of the instrument which is smaller in size and takes up less floor space. Moreover, it is user-friendly and less power supply as opposed to the room type. Such a factor will make chamber type more conducive for many healthcare service providers which shall certainly revitalize the economic growth.