Povidone Iodine Market
Report ID: SQMIG15E2392
Povidone Iodine Market Size, Share, Growth Analysis, By Form(Solution, Ointments, External Pads, Swabs), By End-Use(Health Care & Pharmaceuticals, Personal Care, Agrochemicals, Household & Commercial), By Region - Industry Forecast 2024-2031
Report ID:
SQMIG15E2392 |
Region:
Global |
Published Date: February, 2024
Pages:
157
|Tables:
70
|Figures:
63
Povidone Iodine Market Insights
Povidone Iodine Market size was valued at USD 151.5 million in 2021 and is poised to grow from USD 158.32 million in 2022 to USD 225.14 million by 2030, growing at a CAGR of 4.5% in the forecast period (2023-2030).
The povidone iodine market, a crucial segment of the global healthcare and disinfectant industry, has experienced steady growth in recent years. Povidone iodine, a chemical complex of iodine, is renowned for its potent antiseptic properties. It is extensively used in wound care, surgical procedures, and as a topical disinfectant. The rising demand for infection control in healthcare settings, coupled with the growing emphasis on hygiene in various industries, has driven the market's expansion. Additionally, the increasing awareness about the importance of sanitation in preventing infections has further fueled the demand for povidone iodine products.
The market is influenced by factors such as advancements in medical technology, the prevalence of chronic wounds, and the need for effective solutions to combat infections. Moreover, the ongoing research and development efforts to enhance the efficacy and safety of povidone iodine products contribute to the market's vitality.
With the emergence of new healthcare facilities, the growing global population, and the continuous need for disinfectants in various applications, the povidone iodine market is projected to maintain its growth trajectory. However, environmental concerns and potential alternatives may influence the market dynamics, necessitating sustainable practices and innovative product offerings to ensure long-term success.
US Povidone Iodine Market is poised to grow at a sustainable CAGR for the next forecast year.
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Povidone Iodine Market Segmental Analysis
The Povidone Iodine Market is segmented by Form, End-Use Industry, Application, and Region. We are analyzing the market of these segments to identify which segment is the largest now and in the future, which segment has the highest growth rate, and the segment which offers the opportunity in the future. Based on Form Type the market is segmented as, Solution, Ointments, External Pads, Swabs, Spray, Surgical Scrubs, Eyedrops, and Others. Based on End-User the market is segmented as, Health Care & Pharmaceuticals, Personal Care, Agrochemicals, Household & Commercial, and Others. Based on Application the market is segmented as, Skin Sterilization, Instrument Sterilization, Disinfectant, Others. Based on Region the market is segmented as, North America, Europe, Asia Pacific, and Latin America.
Povidone Iodine Market Analysis By Form
In 2022, Povidone Iodine Solution dominated the market with a significant 22% share. This solution is a powerful inhibitor of infection-causing microorganisms, effectively targeting a range of pathogens, including both gram-positive and gram-negative bacteria, fungi, viruses, and protozoa. It finds extensive use in treating skin infections stemming from minor burns, cuts, lacerations, and abrasions. Moreover, it plays a vital role in managing infections in the oral cavity, such as gingivitis and mouth ulcers, and serves as a crucial element in infection control during urinary catheter insertion, circumcision, and wound dressing changes, effectively preventing sepsis. Notably, Povidone Iodine Solution is widely preferred over other forms of povidone iodine in the market due to its versatile applications. It holds particular significance in pre- and post-surgical treatments as a pivotal measure in infection prevention, making it an indispensable asset in healthcare protocols.
Povidone Iodine Market Analysis By End-User
In 2022, the healthcare and pharmaceutical sector commanded the largest share, accounting for 29% of the Povidone Iodine Market. Povidone iodine, prized for its germicidal, bactericidal, fungicidal, and disinfecting properties, plays a critical role in this sector. Its applications encompass the treatment of contaminated wounds, pre-operative skin and mucous membrane preparation, and the disinfection of medical equipment. Projections from the Institute for Health Metrics and Evaluation (IHME) indicate a significant surge in global healthcare expenditure, expected to reach an estimated range of US$ 9.7-10.1 trillion by 2030. Given the indispensable role of povidone iodine in healthcare and pharmaceuticals, this anticipated growth in demand for healthcare services and products will undoubtedly drive the expansion of the Povidone Iodine Market.
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Povidone Iodine Market Regional Insights
The regional dynamics of the povidone iodine market highlight varying levels of demand and adoption across different parts of the world. North America, particularly the United States, has historically been a dominant force in this market, holding a significant share, with healthcare being a primary driver. The substantial healthcare expenditure in the U.S., along with a high percentage of GDP allocated to healthcare and pharmaceuticals, fuels the demand for povidone iodine.
In Europe, a robust healthcare system and stringent hygiene standards contribute to steady growth in the use of povidone iodine, especially in healthcare settings. The Asia-Pacific region is witnessing notable expansion due to its growing population, increasing healthcare awareness, and a rising need for infection control measures. Emerging economies in this region, such as China and India, are becoming key players in the market, driven by expanding healthcare infrastructure and the agrochemical sector's growth.
Latin America and the Middle East & Africa show promising growth potential, primarily driven by rising healthcare investments and increasing industrial applications. Overall, the regional insights of the Povidone Iodine Market depict a complex interplay of healthcare expenditures, industrial developments, and awareness about hygiene practices, each contributing to the market's expansion in their unique way.
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Povidone Iodine Market Dynamics
Povidone Iodine Market Drivers
Increasing Demand for Povidone Iodine in Pet Care:
Povidone iodine, known for its strong antiseptic properties, finds extensive use in skin disinfection for both pets and animals. Given the inherent hyperactivity of pets, they are more prone to injuries, making povidone iodine a valuable solution for their care. The convenience of application, commonly in the form of sprays and scrubs, is particularly well-suited for pets. The American Pet Products Association (APPA) reported a significant global pet industry sales value of US$ 100 billion in 2020, largely driven by the pandemic-induced surge in pet adoptions. This heightened investment in the pet care sector serves as a notable driver for the Povidone Iodine Market, showcasing its relevance and growth potential in catering to the expanding needs of pet owners.
Povidone Iodine Market Restraints
Alternatives to Povidone Iodine:
- While povidone iodine is a highly effective antiseptic and disinfectant, it's essential to note that individuals with iodine allergies cannot use it, and it can lead to side effects like skin irritation, redness, swelling, itching, and a burning sensation. Due to these concerns, alternative antiseptic agents and disinfectants, such as aqueous chlorhexidine, offer a compelling substitute for povidone iodine. For example, in cases where patients are allergic to iodine, aqueous chlorhexidine serves as a preferred antiseptic for intravitreal injection prophylaxis and is a valuable choice for ocular surgeries. The availability of such alternatives can pose a challenge to the growth of the Povidone Iodine Market.
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Povidone Iodine Market Competitive Landscape
The competitive landscape of the global povidone iodine market is marked by the presence of key players vying for market share through product innovation, strategic collaborations, and expanding their global reach. Established pharmaceutical and chemical companies, including Ecolab Inc., Ashland Global Holdings Inc., Boai NKY Pharmaceuticals Ltd., and BASF SE, are among the prominent players. These industry giants often engage in research and development to enhance the efficacy and safety of povidone iodine formulations, meeting evolving industry demands. Moreover, there are a growing number of smaller, innovative players specializing in niche applications, regional markets, or specific formulations. This competitive diversity encourages technological advancements and product differentiation. Collaborations and partnerships between manufacturers and healthcare institutions, aiming to ensure effective use of povidone iodine in various medical procedures, contribute to a dynamic market environment.
Povidone Iodine Market Top Player’s Company Profile
- Avrio Health L.P.
- BASF
- 3M
- Boai NKY Pharmaceuticals Ltd.
- Glide Chem Private Limited
- R.N Laboratories Pvt. Ltd.
- LASA SUPERGENERICS LIMITED
- Samrat Pharmachem Limited
Povidone Iodine Market Recent Developments
- In February 2021, Avrio Health launched Betadine, an antiseptic oral rinse containing 0.5 percent povidone-iodine as an active ingredient. It is an antiseptic preprocedural oral rinse product designed exclusively for professional use in the repair of oral mucus prior to dental surgery, tooth extraction, and injection. This initiative was primarily intended to expand the current product portfolio and create a competitive advantage in the market.
- In July 2020, Povidone-iodine, a fully sterile solution used for skin preparation, was introduced by BD. The product is called BD Purprep, and healthcare professionals use it to prepare patients' skin for surgery. In the United States, it is sold as an antiseptic skin preparation sterile solution (PVP- I), which is used for single-use antiseptic skin preparation. The product is specifically designed to promote the aseptic non-touch method and prevent cross-contamination in order to reduce the likelihood of outbreaks associated with microbial contamination of antiseptic products.
Povidone Iodine Key Market Trends
- Rising Healthcare Awareness: Growing awareness about hygiene and infection control, especially in healthcare settings, is driving the demand for povidone iodine. Healthcare professionals and patients alike are increasingly recognizing its effectiveness in reducing the risk of infections, contributing to its widespread use.
Povidone Iodine Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Component types team that Collects, Collates, Correlates, and Analyzes the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research.
According to our global povidone iodine market analysis, the market is driven by its potent antiseptic properties, caters to healthcare, veterinary, and industrial segments. Rising healthcare awareness, expansion in the veterinary care sector, and a push for eco-friendly solutions are driving growth. North America and Europe lead, with stringent regulations and robust healthcare systems. Emerging economies in Asia-Pacific show significant potential due to increasing healthcare demand. Despite its efficacy, allergies and alternatives challenge market growth. Amid global health concerns, the market is poised to expand, driven by increased demand in healthcare, particularly in wound care, disinfection, and preventive measures during surgical procedures.
| Report Metric | Details |
|---|---|
| Market size value in 2023 | USD 151.5 million |
| Market size value in 2031 | USD 225.14 million |
| Growth Rate | 4.5% |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Million |
| Segments covered |
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| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
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| Customization scope | Free report customization with purchase. Customization includes:-
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Povidone Iodine Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Povidone Iodine Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Povidone Iodine Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Povidone Iodine Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Povidone Iodine Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Povidone Iodine Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
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