Povidone Iodine Market size is set to surpass USD 211.5 Million by 2028, according to a new research report by Global Market Insights Inc.
Povidone iodine industry is anticipated to grow during the projected period pertaining to growing product use as antiseptic medicine and as first aid for burns, minor cuts, and blisters. Rising use of povidone iodine for skin disinfection before and after surgery coupled with rising healthcare spending in emerging economies such as China and India should boost the overall market growth.
Increased application of povidone iodine in commercial pharmaceutical formulations such as antiseptic gels, liquids, and creams for infection prevention in wounds is expected to boost the povidone iodine demand. Additionally, povidone iodine helps in the healing process of acute and chronic wounds pertaining to its low toxicity, anti-inflammatory property, and good tolerability, which is expected to escalate the market share.
Increasing requirement for antiseptic agents for the prevention & treatment of wounds infection will foster the need for topical solution
Povidone iodine market from topical solution segment is set to reach over USD 85.5 million by 2028. The topical solution of povidone iodine is applied as a disinfecting and antiseptic agent for the treatment and prevention of wounds infection. It is among the most commonly used antiseptic to disinfect skin and eyes. It is also used in first aid as an antiseptic to avoid infection risk in scrapes, burns, and minor cuts and in disinfecting patients’ skin before surgery, thereby, driving industry statistics.
Emerging use of the topical solution for the dressing of operative site & post-operative irrigation and topical treatment of mycotic and bacterial skin infections is further escalating the product demand. Additionally, a topical solution is also used to sterilize medical instruments and dental appliances by immersion or subjection to the formulation pertaining to its antimicrobial property, which further propels the business expansion.
7.5% solution of povidone iodine is growing significantly due to rising concern pertaining to hygiene in clinics & hospitals
Povidone iodine market from 7.5% solution concentration is projected to cross USD 44.5 million by 2028 growing at a CAGR of around 5%. 7.5% solution is highly effective in killing sensitive organisms such as fungus, bacteria, spores, and protozoa present on the skin. As a disinfectant and antiseptic agent, it is used to sanitize skin before a surgical procedure is performed. Increasing concern about hygiene & infection risk in hospitals along with an increased prevalence of the disease will drive the product adoption.
Increasing incidences of Hospital-Acquired Infections (HAI) is anticipated to boost povidone iodine demand from instrument sterilization application
Povidone iodine market from instrument sterilization application accounted for over USD 58 million in 2021 and is poised to register a CAGR of over 5% through 2028. Povidone iodine is utilized for sterilization of hospital equipment and instruments pertaining to high effectiveness in destroying fungi, bacteria, protozoa, and viruses. Thus, increasing incidences Hospital-Acquired Infections (HAI) across the globe and rising awareness about maintaining a hygiene environment in hospitals & clinics is predicted to escalate povidone iodine demand.
Moreover, stringent regulations and guidelines pertaining to sterilization of medical instruments and equipment in the U.S. and European Union are projected to boost the market size. Growing usage of povidone iodine for sterilizing a wide range of medical equipment such as respiratory therapy equipment, anesthesia equipment, scalpel blades, bone chisels, and surgical burs should support market expansion.
Browse key industry insights spread across 200 pages, 226 market data tables, and 33 figures & charts from the report “Povidone Iodine Market Forecasts 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:
An increasing number of dental and cosmetic surgeries in North America should propel the regional market statistics
North America povidone iodine market surpassed USD 42.5 million in 2021 and is predicted to grow at a CAGR of 4.5% over the forecasts period. An increasing number of cosmetics and dental surgeries in the U.S. and Canada owing to rising consciousness about aesthetics in the geriatric population is propelling product demand. The increasing demand for pre-operative skin sterilizing formulation to prevent the risk of disease transmission is anticipated to stimulate North American market share.
The rising prevalence of hospital-acquired infection coupled with stringent regulations pertaining to the use of disinfectants in the healthcare sector is likely to drive the North America povidone iodine market size. Furthermore, growing product application in the preparation of pharmaceutical products such as disinfectants and antiseptics should augment market outlook. Thus, the well-established pharmaceutical and healthcare industry in the region should boost market forecasts.
Players in the povidone iodine market are implementing multiple strategies including acquisition, merger, and new product development to sustain their position in the market. The major players include Glide Chem, Avrio Health, BASF SE, 3M Company, LASA SUPERGENERICS, Samrat Pharmachem, Boai NKY Pharmaceuticals, and R.N Laboratories, which play a significant role in the industry.