According to a new research report by Global Market Insights Inc., the Povidone Iodine Market size is set to surpass USD 200 million by 2027.
Povidone iodine is also known as iodopovidone is commonly used as antiseptic to disinfect skin. Povidone iodine is an iodophor solution that contains water soluble complexes such as polyvinylpyrrolidone (PVP) and iodine and offers antimicrobial activity. It offers a wide range of anti-microbial activity against fungi, protozoa, viruses and bacteria. The product offers longer lasting antiseptic effects as compared to iodine owing to its slow absorption through tissues which makes it ideal for longer surgeries.
Increasing demand for topical solution as germicidal formulation should augment market growth
Global povidone iodine market by topical solution witnessed a consumption of over 4560 tons in 2020, which is likely to experience significant gains up to 2027. The topical solution offers antiseptic property and prevents risk of infection in minor burns, scrapes and cuts. Topical solution is widely used in 10% concentration owing to its pre-operative skin application.
Product in topical solution form as a disinfectant agent used to control microbe growth on affected area. Product topical solution application reduces potential toxicity and offers germicidal activity. Furthermore, the topical solution is used as a germicidal on wounds and mucous membranes which represent significant growth opportunities for povidone iodine market.
“As per industry forecast, povidone iodine by 7.5% concentration should register over 4.5% gains by 2027, pertaining to use for manufacture of ointment and dry powder spray”
Browse key industry insights spread across 200 pages with 229 market data tables and 25 figures & charts from the report, “ Povidone Iodine Market By Concentration (10% solution, 7.5% solution, Others), By Formulation (Scrub, Topical Solution, Ointments, Others), By Application (Skin Sterilization, Instrument Sterilization, Disinfectant, Others) Industry Analysis Report, Regional Outlook, Growth Potential, Price Trend, Competitive Market Share & Forecast, 2021 – 2027” in detail along with the table of contents:
Growing demand for disinfectants from healthcare industry should stimulate the industry growth
The disinfectants application segment should exceed USD 15 million up to 2027. Rising product demand from clinical centers for skin disinfection application is expected to boost the povidone iodine market share. Application of the product to disinfect skin before dental operations should augment the growth of product market.
Application of the product in disinfecting hands of doctors, healthcare workers and patients should augment product market growth. The product offers advantages of a broader antibacterial spectrum, bacterial resistance and significantly lower price. Growing healthcare industry along with rising risk of infectious disease should trigger the povidone iodine market share.
“As per industry forecasts, skin disinfection application should register gains over 4.5% by 2027, pertaining to product demand for pre-operative and post-operative application”
Growing product demand for wound care application is expected to boost the business growth in Asia Pacific region
Asia Pacific should exceed USD 75 million up to 2027 and is predicted to achieve rapid growth in the predicted period. Rising demand for the product owing to its ability to heal and prevent infection is expected to dominate the market in Asia Pacific region. Developing countries in Asia Pacific region are expected to boost product demand owing to its cost efficacy. Furthermore, beliefs and perception in different Asia countries related to staining property on wound are found to be associated to increased efficacy which is likely to stimulate povidone iodine market growth.
Increased usage of the product as an antiseptic is further expected to boost the product market growth. Povidone iodine products include swab sticks, surgical scrubs and topical solution which is expected to witness growth owing to growing healthcare industry in the region. Furthermore, application of the product in production of antiseptic ointments should augment product demand from pharmaceutical industry.
“As per market estimates, Asia Pacific should register over 5.5% gains by 2027, pertaining to product demand in developing countries and affordable product cost”
The global povidone iodine industry share is competitive including key players such as 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. Companies are majorly focusing on strategic agreements such as acquisitions, mergers and partnerships to expand their production volume, and widen their geographic distribution network.