The Global Hydrogen Peroxide for Disinfection/Sterilization Market is accounted for $1,045.40 million in 2020 and is expected to reach $1,730.14 million by 2028 growing at a CAGR of 6.5% during the forecast period. Rise in disposable income, increased purchasing capabilities of users, and growing concerns about personal care are the major factors propelling the market growth. However, adverse effect of hydrogen peroxide is hampering the market growth. Based on end user, the healthcare segment is estimated to have a lucrative growth due to its increased usage for dental or wound disinfection, contact lens cleaning, and surgical instruments disinfection. Solutions containing a higher concentration of hydrogen peroxide are used as sterilants for specially designed heat-sensitive machines and medical devices. Some of the key players profiled in the Hydrogen Peroxide for Disinfection/Sterilization Market include Akzo Nobel N.V, Arkema Group, BASF SE, Ecolab, Evonik Industries AG, KemiraOyj, Maroon Group, Merck KGaA, Mitsubishi Gas Chemical Company, Inc., and Solvay S.A.
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The Global Hydrogen Peroxide for Disinfection/Sterilization Market is majorly driven by rise in disposable income, increased purchasing capabilities of users, and growing concerns about personal care. The healthcare segment is growing at a highest CAGR owing to increased usage for dental or wound disinfection, contact lens cleaning, and surgical instruments disinfection. Asia Pacific dominated with a significant market share due to the factors such as increase in disposable income and rising purchasing capabilities of users. The rise in concerns about personal care and healthcare drives the growth of the market in the region. Europe market is growing at a highest CAGR owing to the continuous research and development which has led to the widespread adoption of hydrogen peroxide.
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