Global povidone iodine market value is projected to reach USD 211.5 million by 2028, according to a new research report by Global Market Insights Inc. Rising concern pertaining to hospital-acquired infections (HAI) coupled with increasing product usage in the pharmaceutical industry is anticipated to positively influence the market demand. Additionally, rapid growth in the healthcare sector of developing economies such as China, India, Brazil, and Argentina and rising healthcare expenditure are projected to drive the industry landscape.
Povidone iodine industry from ointments segment surpassed USD 15.5 million in 2021 and is expected to register 4.5% CAGR through 2028. Povidone iodine is used in ointment production owing to its ability to aid healing to a wide range of chronic and acute wounds by resisting gram-positive and gram-negative organisms. It is used for topical applications for the prevention and treatment of wound infections, which should propel product demand for first aid applications.
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Concentration segment exceeded USD 5.4 million in 2021 and is predictable to exhibit CAGR of 5.3% during the analysis period. Increasing requirement for lower concentrations of povidone iodine such as 5%, 2.5%, and 0.5% for disinfectant and antiseptic application in hospitals is driving product demand. Increasing usage of 5% concentrated povidone iodine for treating infections of the lining of the throat and mouth, and 0.5% concentrated povidone iodine as gargles and nasal drops to prevent & treat sore throat symptoms is boosting business landscape.
Some major findings of the povidone iodine market report include:
- Scrub formulation type segment is likely to grow at a CAGR of over 4.5% over the forecast timeframe driven by its increasing use for washing hands and forearms to reduce the number of microorganisms before surgery.
- Instrument sterilization segment is predicted to surpass USD 82 million by 2028 led by rising awareness about maintaining a hygiene environment in clinics and hospitals.
- Major players in the market are focused on implementing strategic initiatives such as new product launches and mergers & acquisitions, to cater to the rising demand for povidone iodine.
- Asia Pacific market is set to witness around 5.5% gains in the coming years due to the rapidly developing healthcare sector, especially in India and China.
Browse key industry insights spread across 200 pages, 226 market data tables, and 33 figures & charts from the report “Povidone Iodine Market Analysis by Formulation Type (Scrub, Topical Solution, Ointments), Concentration (10% Solution, 7.5% Solution), Application (Skin Sterilization, Instrument Sterilization, Disinfectant) Industry Analysis Report, Regional Outlook, Application Potential, Price Trend, Competitive Market 2022- 2028” in detail along with the table of contents:
https://www.gminsights.com/industry-analysis/povidone-iodine-market
Povidone iodine market from disinfectant segment accounted for revenue of USD 12.5 million in 2021 and is anticipated to witness over 4% CAGR till 2028. The growing use of povidone iodine as effective disinfection owing to its antibacterial properties, ability to kill bacteria, viruses, spores, protozoa, and fungi, and low toxicity to humans is escalating product demand from the disinfectant application. The increasing product use for disinfecting doctors’ hands, patients’ skin, and medical devices and instruments are projected to support market statistics.
Europe povidone iodine market surpassed USD 36.5 million in 2021 and is projected to register a CAGR of 4.4% during the forecast period. The presence of a large number of hospitals and clinics and developed healthcare infrastructure in the region is driving industry demand. The increasing prevalence of various diseases in hospitals & clinics has surged the demand for instrument sterilizers in Europe.
Some of the key companies operating in the povidone iodine industry include Avrio Health L.P., BASF, 3M, Boai NKY Pharmaceuticals Ltd., Glide Chem Private Limited, R.N Laboratories Pvt. Ltd., LASA SUPERGENERICS LIMITED.
