Global Povidone Iodine Market Insights Forecasts to 2030
- The global povidone Iodine market was valued at USD 155.5 million in 2021.
- The market is growing at a CAGR of 5.1% from 2021 to 2030
- The global povidone Iodine market is expected to reach USD 243.3 million by 2030
- North America is expected to grow the fastest during the forecast period
The Global Povidone Iodine Market is expected to reach USD 243.3 million by 2030, at a CAGR of 5.1% during the forecast period 2021 to 2030. The market is being driven owing to the rising acceptance of povidone Iodine in the healthcare and dentistry industry.
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Povidone iodine, which comes in the form of a brown powder, is a complex element of iodine, hydrogen iodine, and povidone. It is frequently used as an antiseptic and disinfectant in healthcare applications and is available in liquid and powder form. For instance, healthcare professionals' hands and patient skin are cleaned with povidone-iodine before and after surgery. Creating antiseptic washes, ointments, and gargle solutions also uses it as an antiseptic agent. Because of its capacity to eliminate microorganisms and lower the risk of infection, povidone-iodine is being utilized more frequently in the healthcare industry as an antiseptic agent. The demand for antiseptic goods is accelerating due to an increase in the number of invasive surgeries and the swift expansion of the healthcare sector in both established and developing nations.
This research report on povidone Iodine categorizes the market for povidone Iodine based on various segments and regions, forecasts revenue growth, and analyzes trends in each submarket. The report analyses the key growth drivers, opportunities, and challenges influencing the povidone Iodine market. Recent market developments and competitive strategies such as expansion, product launch and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key market players and analyses their core competencies in each sub-segments of the povidone Iodine market.
Global Povidone Iodine Market Report Coverage
|Market Size in 2021:||USD 155.5 million|
|Forecast Period 2021-2030 CAGR:||5.1%|
|2030 Value Projection:||USD 243.3 million|
|No. of Pages:||196|
|Tables, Charts & Figures:||129|
|Segments covered:||By Formulation Type, By Concentration, By Application, By Region|
|Companies Covered:||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, Evonik Industries AG, Nippon Shokubai Co., Ltd, Sumitomo Seika Chemicals Co. Ltd, Sanyo Chemical Industries, KAO Corporation|
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- In 2021, the scrub segment dominated the market with the largest market share of 42% and market revenue of 65.31 million.
Based on the formulation type, the povidone iodine market is categorized into scrub, topical solution, and ointments. In 2021, the scrub segment dominated the market with the largest market share of 42% and market revenue of 65.31 million. Scrubs are increasingly used to treat and prevent infections in cuts and wounds because they are very effective in eradicating dangerous microorganisms and limiting their growth, which helps to keep infections from spreading to the affected region. Due to its microbicidal action against a wide variety of protozoa, fungi, viruses, and bacteria, povidone iodine scrub is in high demand, promoting market expansion. Scrubs are worn before surgical procedures to lessen the possibility of contamination. It is used to bathe the surgical site both before and after to reduce the risk of infection. In healthcare settings, infections are becoming more common, and there are more hospitals and clinics worldwide, which is expected to increase product demand.
- In 2021, the 10% solution segment accounted for the largest share of the market, with 58% and market revenue of 90.19 million.
Based on the concentration, the povidone Iodine market is categorized into 10% Solution and 7.5% Solution. In 2021, the 10% solution segment dominated the market with the largest market share of 58% and market revenue of 90.19 million. Due to its capacity to destroy bacteria, 10% solution is utilized as a topical skin cleansing agent for wound dressing and antiseptic cream formulations, which could increase product demand. Because it is more effective as a hand cleaning agent for clinical applications, the demand for a 10% solution is growing. The risk of hospital-acquired illnesses is predicted to raise the demand for disinfectants, which will boost the demand for a 10% solution. Utilization of the product in creating antiseptic cream and applying wound dressings ought to increase product acceptance. The antiseptic and disinfectant class of povidone-iodine 10% solution is increasingly used to prevent and cure skin infections in small burns, deep skin cuts, and abrasions. Therefore, it is anticipated that rising occupational injury rates will increase product demand.
- In 2021, the skin sterilization segment accounted for the largest share of the market, with 39% and market revenue of 60.64 million.
Based on the application, the povidone iodine market is categorized into instrument sterilization, skin sterilization, and disinfectant. In 2021, the skin sterilization segment dominated the market with the largest market share of 39% and market revenue of 60.64 million. Almost all fungus, bacteria, and viruses that are present on the skin are eradicated by the procedure of skin sterilization. In hospitals and other healthcare settings, skin sterilization guards against spreading infections and disorders to patients and medical staff. So, a crucial component of any kind of surgery is to sterilize the hands of the surgeons and the skin of the patients. Povidone iodine is used for skin sterilization because it successfully eliminates harmful germs, which are the main source of disease transmission in hospitals. Before a skin puncture for a blood test and before spinal and epidural anesthesia, it is used to sterilize the skin. As a result, the market forecast is anticipated to be driven by increased surgical procedures.
Regional Segment Analysis of the povidone Iodine Market
- North America (U.S., Canada, Mexico)
- Europe (Germany, France, U.K., Italy, Spain, Rest of Europe)
- Asia-Pacific (China, Japan, India, Rest of APAC)
- South America (Brazil and the Rest of South America)
- The Middle East and Africa (UAE, South Africa, Rest of MEA)
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The Asia Pacific emerged as the largest market for the global povidone Iodine market, with a market share of around 42% and a 65.31million market revenue in 2021.
- In 2021, Asia Pacific emerged as the largest market for the global povidone Iodine market, with a market share of around 42% and 65.31 million of the market revenue. The rapidly growing healthcare industries in China, India, Malaysia, and Thailand are principally responsible for the market expansion in the Asia Pacific region. Additionally, rising healthcare spending in the region and rising cleanliness concerns will boost APAC market statistics. Additionally, hospitals' increasing need for sterilized equipment and the rigorous rules governing the use of medical equipment should increase product demand. Due to its capacity to decrease the virus burden in the nasal tract and hence minimize the probability of transmission, povidone-iodine is utilized more frequently to prevent COVID-19 transmission in patients through nasal antisepsis. As a result, the demand for povidone-iodine has increased due to the rapid distribution of COVID-19 throughout the region and the expansion of hospitals and clinics, which is driving the growth of the regional market.
- The North American market is expected to grow at the fastest CAGR over the forecast period(2022-2030). The number of bariatric procedures for weight loss in North America is driven by improved lifestyles, rising health awareness, and increases in disposable cash. In turn, during the forecast period, this is anticipated to enhance the povidone iodine market in the area.
The report offers the appropriate analysis of the key organizations/companies involved within the global povidone Iodine market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market.
List of Key Market Players:
- Avrio Health L.P.
- Boai NKY Pharmaceuticals Ltd.
- Glide Chem Private Limited
- R.N Laboratories Pvt. Ltd.
- LASA SUPERGENERICS LIMITED
- Samrat Pharmachem Limited
- Evonik Industries AG
- Nippon Shokubai Co., Ltd
- Sumitomo Seika Chemicals Co. Ltd
- Sanyo Chemical Industries
- KAO Corporation
Key Target Audience
- Market Players
- Government Authorities
- Consulting And Research Firm
- Venture capitalists
- Third-party knowledge providers
- Value-Added Resellers (VARs)
- In February 2021, Under the trade name Betadine, Avrio Health produced an antiseptic oral rinse with povidone-iodine 0.5% as an active component. It is an antiseptic preprocedural oral rinse that was created exclusively for professional use to treat oral mucus before dental surgery, tooth extraction, and injection. The primary goals of this program were to increase the current product line and gain a competitive advantage.
- In July 2020, Povidone-iodine, a completely sterile solution used for skin preparation, was introduced by BD. Healthcare practitioners prepare patients' preoperative skin with a substance called BD Purprep. It is offered for sale in the United States as a sterile antiseptic skin preparation (PVP-I) that is intended for single-use antiseptic skin preparation. To lessen the likelihood of outbreaks linked to microbiological contamination of antiseptic treatments, the product is specifically made to encourage the aseptic non-touch method and prevent cross-contamination.
This study forecasts revenue at global, regional, and country levels from 2021 to 2030. Spherical Insights has segmented the global povidone Iodine market based on the below-mentioned segments:
Global Povidone Iodine Market, By Formulation Type
- Topical Solution
Global Povidone Iodine Market, By Concentration
- 10% Solution
- 7.5% Solution
Global Povidone Iodine Market, By Application
- Instrument Sterilization
- Skin Sterilization
Global Povidone Iodine Market, Regional Analysis
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia Pacific
- South America
- Rest of South America
- Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of Middle East & Africa
Frequently Asked Questions (FAQ)
What is the market size of the Povidone Iodine market?As per Spherical Insights, the size of the Povidone Iodine market was valued at USD 155.5 million in 2021 to USD 243.3 million by 2030.
What is the market growth rate of the Povidone Iodine market?The Povidone Iodine market is growing at a CAGR of 5.1% during the forecast period 2022-2030.
Which country dominates the Povidone Iodine market?The Asia Pacific emerged as the largest market for Povidone Iodine.
Who are the key players in the Povidone Iodine market?Key players in the Povidone Iodine market are 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, Evonik Industries AG, Nippon Shokubai Co., Ltd, Sumitomo Seika Chemicals Co. Ltd, Sanyo Chemical Industries, and KAO Corporation.
Which is the leading formulation type for Povidone Iodine Market?The scrub segment is the leading formulation type for the Povidone Iodine market.
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