Selbyville, Delaware, April 01, 2021 (GLOBE NEWSWIRE) -- Based on Global Market Insights Inc., report, the global Povidone Iodine Market was estimated at $140 million in 2020 and is slated to exceed $200 million by 2027, registering a CAGR of 4.5% from 2021 to 2027 primarily owing to increasing demand for skin disinfectants from the healthcare industry. The report provides a thorough analysis of the main investment avenues, major winning strategies, drivers and opportunities, wavering industry trends, market estimations as well as size, competitive scenarios.
Povidone-iodine is a brown powder and a complex of elemental iodine, povidone, and hydrogen iodine which is used for external application as an antiseptics and disinfecting agent. It consists of complex polyvinylpyrrolidone and iodine which act as disinfectants and widely used by healthcare workers. The product is used to reduce the risk of skin infection on wounds which is likely to raise the povidone-iodine market share in the projected time period.
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Product market by 10% solution concentration should grow at a CAGR over4.5 % by end of 2027 owing to rising demand for the product from hospitals and clinics as cleansing agent prior to insertion.
Ointment application is anticipated to surpass USD 20 million by 2027 owing to product used for topical application in open large wounds and treatment of common skin infections. The product is used in the treatment of skin infections including infections around nails and prevention of infection in cuts, minor burns, and abrasions which should accelerate the povidone iodine market growth in the forecasted timespan. Moreover, scrub formulation surpassed USD 65 million in 2020 pertaining to its application use to disinfect skin prior to surgeries.
Global povidone iodine market size from instrument sterilization application should surpass USD 75 million by 2027. The product use for disinfecting blood culture bottles and medical equipment including thermometers, hydrotherapy tanks, and endoscope should drive the product demand in the region. The booming healthcare sector should stimulate the demand for instrument sterilizing solutions to avoid risk of diseases in hospitals and clinics. Moreover, the skin sterilization application segment was estimated to be over USD 70 million in 2020 which represents a growth opportunity for the product market.
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Europe povidone iodine market should register over 4% gains by 2027 on account of chronic health problems which should raise demand for skin disinfectants and instrument sterilizers. Furthermore, with the covid-19 outbreak, the demand for cleansing and sterilizing agents have increased from healthcare centers. The European region is experiencing increasing number of healthcare institutes along with rapidly rising health problems due to Covid-19 should augment product demand.
Some of the key market players manufacturing in povidone iodine industry are BASF SE, Glide Chem Pvt Ltd, Adani Pharmachem Pvt Ltd, Akron Healthcare Pvt Ltd, Sigma Aldrich, Avrio Health L.P., and Boai NKY Pharmaceuticals Ltd.
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