Chlorhexidine Gluconate Solution Market size is forecast to reach $196.1 million by 2026, after growing at a CAGR of 3.2% during 2021-2026. Chlorhexidine Gluconate is a gluconate salt form of the chlorhexidine. It is a biguanide compound that is used in the antiseptic agent for tropical antibacterial activity. Chlorhexidine Gluconate is an aqueous solution that is widely used in surgical hand scrub. Chlorhexidine gluconate (CHG) works by damaging the membranes of bacteria. For skin disinfection, CHG provides a longer-lasting antibacterial effect. The other growth application is wound care, hand washes, preoperative body shower, general disinfectant, oral hygiene, and Others.
COVID-19 Impact:
The emergence of COVID-19, had a noticeable impact on global economic growth. Currently the Chlorhexidine Gluconate Solution Market has seen rise during the pandemic as the demand for hand rub was shot up. The growing desire for wellness and health products, along with an increase in disease rates, has boosted the need for hand sanitizers, according to the report. Sanitizers has become more popular among people due to awareness of hand cleanliness. Hand sanitizer is an important part of maintaining hand hygiene. This has prompted the rise in production of hand rubs which has drastically augmented the demand for hand rub raw materials among the manufacturers. The growth of Chlorhexidine Gluconate Solution in the year 2021 has remained in upward trend and is expected to grow further due to other industry application.
Chlorhexidine Gluconate Solution Market Segment Analysis - By Type
The 2% CGH held the largest share of 36% in the Chlorhexidine Gluconate Solution Market in 2020 followed by 4% CGH solutions. The 2% CGH solution is used with and without isopropyl alcohol. It is used in skin preparation for surgery, Hand rub, invasive solutions, general wound cleaning, center lines to prevent hospitals to acquire infection. It is also used in daily washing and preventing from other micro-organisms. It is also used for the umbilical cord care. It prevents the bacterial growth for up to 72 hours.
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Chlorhexidine Gluconate Solution Market Segment Analysis - By Application
Hand Rub held the largest share in the Chlorhexidine Gluconate Solution Market in 2020 with a CAGR of 12.02% during the forecast period of 2021-2026. The medical industry is rising due to the increase in the spread of virus and bacteria infected diseases on major cause was the spread of COVID-19. The rise in level of diseases spread by the microorganisms is making the use of chlorhexidine gluconate solution in hand rubs which with time has become the daily necessity. With the growing medical industry and its demand for Chlorhexidine Gluconate Solution is also increasing. The use of Chlorhexidine Gluconate Solution is done in the preoperative skin preparation to prevent the spread of infection in the hospital.
Chlorhexidine Gluconate Solution Market Segment Analysis - Geography
North America dominated the Chlorhexidine Gluconate Solution Market in the year 2020 with a market share of 39% followed by Asia-Pacific and Europe. North America is the leading region because of the higher old age population and better medical industry available in the region. But with time the rise in population and per capita income of the countries in the Asia Pacific region will tend to lead the market in future. The countries like China and India are providing the market because of rising healthcare industries in the region. Currently the Chlorhexidine Gluconate Solution industry has been affected due to COVID-19 pandemic where most of the industrial activity has been temporarily shut down. In in turn has affected the demand and supply chain as well which has been restricting the growth.
Chlorhexidine Gluconate Solution Market Drivers
Rise in Demand for hand sanitizer and disinfectant
The growing diseases have increased the demand for Chlorhexidine Gluconate Solution. The use of Chlorhexidine Gluconate Solution as a disinfectant is increased because of rise in the virus infected diseases. People are getting more sensitive towards using hand rubs and disinfectants in their daily lives. Also, the spread of COVID-19 has led to the increase in usage of disinfectants in different ways like oral hygiene, hand rubs, disinfectant for cleaning and washing and others.
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Chlorhexidine Gluconate Solution Market Challenges
Fluctuation in Raw Material Prices
The unexpected rise in price of the raw material tend to hamper the Chlorhexidine Gluconate Solution market. The fluctuation in the price leads to the emergence of substitutes and most of the economies in the world are price driven. Also, the stringent rules by government regarding the use of chemicals is acting as a barrier in the growth of Chlorhexidine Gluconate Solution Market.
Chlorhexidine Gluconate Solution Market Landscape
Technology launches, acquisitions and R&D activities are key strategies adopted by players in the Chlorhexidine Gluconate Solution Market. In 2020 the Chlorhexidine Gluconate Solution Market has been consolidated by the top five players accounting for xx% of the share. Major players in the Chlorhexidine Gluconate Solution Market are 3M, BD, Ecolab, Afton Pharma, Basic Pharma Life Science Pvt. Ltd., H&R Healthcare Ltd., and Others.
Acquisitions/Technology Launches/ Product Launches
In February 2019, Medline launched chlorhexidine gluconate-dosed ReadyPrep CHG pre-op skin antiseptic cloth. ReadyPrep CHG cloth is pre-saturated with 2 percent chlorhexidine gluconate, an antiseptic known for its ability to remove infection-causing bacteria from the skin.
Key Takeaways
North America dominates the Chlorhexidine Gluconate Solution Market owing to rapid increase in medical equipment’s and cutting tools.
The market drivers and restraints have been assessed to understand their impact over the forecast period.
The report further identifies the key opportunities for growth while also detailing the key challenges and possible threats.
The other key areas of focus include the various applications and end use industry in Chlorhexidine Gluconate Solution Market and their specific segmented revenue.
Due to the COVID-19 pandemic, most of the countries have gone under temporary shutdown, due to which operations of Chlorhexidine Gluconate Solution Market related industries has been negatively affected, thus hampering the growth of the market.
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