The global disinfectant and sterilization equipment market will grow from $7 billion in 2019 to $9 billion in 2023, at a compound annual growth rate of 8.4%, according to projections highlighted by Boon Industries, Inc.
Boon Industries is a bioscience company that manufactures commercial chemicals with diverse applications in commercial sterilization for agriculture, warehousing, hospitality and medical facilities.
DiOx+, this company’s flagship product, is a broad-spectrum activated chlorine dioxide (Cl02) disinfectant that helps protect the environment and human health from viruses, bacteria and harmful by-products left behind by other cleaning disinfectants, without unpleasant odor or skin irritation.
The market opportunity for Boon Industries’ DiOx+ product includes key industries that require effective disinfection and sterilization of air, surfaces and equipment.
Growth in these markets has been substantial since 2020, and the outlook continues to grow in the wake of the Covid-19 pandemic.
In 2020, the sterilization equipment market was valued at $8 billion, driven by increased demand for sterilization equipment, disinfectants and critical care equipment due to Covid-19.
The U.S. surface disinfectants market size was valued at $987 million in 2019 and is expected to grow at a compound annual growth rate of 9.2% from 2020 to 2027.
Sterilization Equipment
The surface disinfectants market is anticipated to grow substantially due to stringent regulations for the use of surface disinfectants, rising awareness among consumers regarding hygiene, and increasing cases of chronic diseases.
In addition, the market is driven by the rising incidence of disease outbreaks, such as the Covid-19 pandemic, which has led to a sharp increase in demand for surface disinfectants in hospitals.
Chemical disinfectants have become the largest compounding segment, with increasing demand for disinfectants such as quaternary ammonium compounds and alcohols.
Due to the growing awareness of the effects of the toxic nature of some of the chemical-based products and the numerous recalls that have occurred recently, the non-toxic but highly effective dynamics of our product are expected to provide a critical competitive advantage for our product line, which is based on protecting the health of people and the environment with an environmentally friendly chlorine dioxide solution and its oxidizing properties.
