Povidone Iodine Market Size, Share, Demand, Forecast 2030

Povidone Iodine Industry Prospective:

The global povidone iodine market size was worth around USD 152 Million in 2021 and is predicted to grow to around USD 240 Million by 2030 with a compound annual growth rate (CAGR) of roughly 5.2% between 2022 and 2030.

The report analyzes the global povidone iodine market’s drivers, restraints/challenges, and the effect they have on the demands during the projection period. In addition, the report explores emerging opportunities in the povidone iodine market.

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Povidone Iodine Market: Overview

Iodopovidone is another name for povidone. Its antibacterial qualities are useful for treating skin infections before and after surgery. Povidone Iodine is frequently applied in liquid and powder form to treat small wounds. It plays a significant role in the production of several medicinal goods, including antiseptic liquids, gels, and creams that prevent infection in wounds.

Key Insights

• As per the analysis shared by our research analyst, the global povidone iodine market is estimated to grow annually at a CAGR of around 5.2% over the forecast period (2022-2030).
• In terms of revenue, the global povidone iodine market size was valued at around USD 152 million in 2021 and is projected to reach USD 240 million, by 2030.
• The growing incidences of periodontal diseases among individuals all across the globe have significantly propelled the demand for povidone iodine-induced dental floss.
• Based on the form, surgical scrubs are expected to dominate the market during the forecast period.
• Based on the concentration, the 6-10% segment accounted for the largest revenue share in 2021.
• Based on the application, the antiseptic agent is projected to hold the largest market share over the forecast period.
• Based on the end-use industry, the healthcare & pharmaceuticals segment is projected to hold the largest market share over the forecast period.
• Based on region, North America is expected to dominate the market during the forecast period.

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Povidone Iodine Market: Growth Drivers

Growing demand for povidone iodine in pet care to drive the market growth

One of the most effective antiseptics is povidone iodine, which is why it is frequently used to disinfect the skin of both pets and other animals. Compared to people, pets tend to be more hyperactive, making them more vulnerable to harm. Povidone iodine is most frequently applied to pets in sprays and washes because they are simpler to use.

The American Pet Products Association (APPA) estimates that the global pet sector sales reached US$ 100 billion in 2020, with the pandemic having a significant impact on adoption rates at the time. The global povidone iodine market benefits from the increase in investment in the pet care sector.

Povidone Iodine Market: Restraints

Availability of substitutes to limit the market growth

Povidone iodine is one of the best antiseptics and disinfectants, however, it cannot be used by persons who have iodine allergies since it might have negative side effects such as skin irritation, skin redness, swelling, itching, and burning. As a result, alternative antiseptics and disinfectants work well as a substitute for povidone iodine, including aqueous chlorohexidine. For instance, aqueous chlorohexidine is a great option for ocular procedures and is frequently used as an antiseptic agent for intravitreal injection prophylaxis in individuals who have iodine allergies. As a result, the availability of alternatives to povidone iodine may act as a barrier to the market's expansion.

Povidone Iodine Market: Opportunities

Povidone Iodine's Importance in aquaculture provides a lucrative opportunity

Infections by protozoa, fungi, bacteria, and other organisms are frequently seen in aquaculture, the controlled cultivation of fish, crustaceans, eels, algae, and other aquatic plants and animals. This is especially true in humid conditions. As a result, aquaculture places a high value on disinfection. Because it is non-toxic at low concentrations and beneficial to the aquatic environment, povidone iodine proves to be a good disinfectant in aquaculture. The world's aquaculture production was estimated by the Food and Agriculture Organization of the United Nations (FAO) to have reached 114.5 million tons in 2018, an increase of 3.2% from 2017. As a result, the povidone iodine industry is expanding along with the aquaculture industry.

Povidone Iodine Market: Challenges

Side effects act as a major challenge

Povidone iodine eye drops and skin preparations both frequently cause localized edema, irritability, itching, and rash. Povidone iodine's iodine concentration makes it potentially corrosive when used excessively. Patients who have had eye exposures should irrigate their eyes for 15 minutes right away. Any symptoms or eye pain that persists may require a medical checkup and treatment. Ingestion can result in digestive tract burns, thyroid problems, and disturbed stomachs. Heart and renal failure may happen in extreme circumstances. Iodine toxicity is the cause of the potentially poisonous symptoms, which frequently call for expert care in a hospital setting.

Povidone Iodine Market: Segmentation

The global povidone iodine market is segmented based on form, concentration, application, end-use industry, and region

Based on the form, the povidone iodine industry is bifurcated into solutions, ointments, external pads, swabs, sprays, surgical scrubs, eyedrops, and others. Surgical scrubs are expected to dominate the market during the forecast period. Because they are so good at eliminating harmful germs and restricting their growth, scrubs are increasingly used to treat and prevent infections in cuts and wounds.

This helps to prevent infections from spreading to the affected area. Povidone iodine scrub has a high demand due to its microbicides action against a variety of protozoa, fungi, viruses, and bacteria, which encourages market expansion. Before surgery, scrubs are worn to reduce the risk of contamination. Moreover, to lower the risk of infection, it is used to wash the surgical region both before and after. Since infections are growing more frequent in healthcare facilities and there are more hospitals and clinics than ever before, product demand is anticipated to rise.

On the other hand, the solution segment is expected to grow at the highest CAGR during the forecast period. Povidone iodine solution is efficient against bacteria, including gram-positive and gram-negative bacteria, fungi, viruses, and protozoa. It works by preventing the growth of infection-causing germs. Povidone iodine solution is used to treat small burns, lacerations, cuts, and abrasions for skin infections. Additionally, it aids in the treatment of diseases of the mouth and throat, such as gingivitis and mouth ulcers, in the prevention of infection during the placement and maintenance of urinary catheters and circumcision, and suture removal and dressing changes.

The most fundamental reason why povidone iodine solution is used so frequently in pre-and post-operative care is that it is crucial for preventing infection. Povidone iodine solution is widely favored over other types of povidone iodine in the povidone iodine market due to its broad range of applications.

Based on concentration, the global povidone iodine market is segmented into 0-5%, 6-10%, and others.

Based on the application, the global market is categorized into antiseptic agent, skin sterilization, instrument sterilization, antimicrobial agent, disinfectant, aquaculture, and others.

Based on the end-use industry, the global povidone iodine industry is categorized into health care & pharmaceuticals, personal care, agrochemicals, household & commercial, and others. The healthcare & pharmaceuticals segment is projected to hold the largest market share over the forecast period. Because of its germicidal, bactericidal, fungicidal, and general disinfecting qualities, povidone iodine is frequently used as a disinfectant and antiseptic. As a result, it is used to treat infected wounds, prepare the skin and mucous membranes for surgery, as well as to disinfect medical equipment.

The Institute for Health Metrics and Evaluation (IHME) predicts that by 2030, global healthcare spending will increase to an estimated US$9.7–10.1 trillion. Since povidone iodine is crucial to the healthcare industry, rising demand for pharmaceuticals and healthcare will also fuel the povidone iodine market.

Recent Developments:

• In July 2020, BD introduced povidone-iodine, a completely sterile solution used for skin preparation. Healthcare practitioners utilize a product called BD Purprep to get patients' skin ready for surgery. It is offered as an antiseptic skin preparation sterile solution (PVP- I) for single-use antiseptic skin preparation in the United States. To minimize the possibility of infections due to microbiological contamination of antiseptic treatments, the product is specifically made to encourage the aseptic non-touch method and prevent cross-contamination.
• In February 2021, Betadine, an antiseptic oral rinse with 0.5 percent povidone-iodine as an active component, was introduced by Avrio Health. It is an antiseptic preprocedural oral rinse made specifically for use by professionals to restore oral mucus before dental surgery, tooth extraction, and injection. The main goals of this venture were to increase the current product line and gain a competitive edge.

Povidone Iodine Market Report Scope:

Povidone Iodine Market: Regional Analysis

North America is expected to dominate the market during the forecast period

North America accounted for the largest market share of more than 40% in 2021 and is expected to dominate the global povidone iodine market during the forecast period. Povidone iodine is a necessary disinfectant that is mostly utilized in the healthcare sector

According to the Organization for Economic Co-operation and Development (OECD), the United States was accountable for nearly one-third of the USD 3.6 trillion in global spending on the healthcare industry in 2019. The amount spent on health care and medicines as a proportion of GDP in the nation was 16.8%, which is the highest amount among all nations in the globe. In addition, as povidone iodine is utilized as a biocide in fertilizers and pesticides, rising demand for agrochemicals is also boosting demand for the povidone iodine market.

For instance, the US Department of Agriculture reports that the country increased its farming area to grow 94.0 million acres of corn and 85.0 million acres of soybeans. This led to a rise in fertilizer usage in 2021, supporting domestic crop output in the nation. Thus, rising demand for the pharmaceutical, agrochemical, and healthcare industries is driving up povidone iodine demand in the North American region.

Besides, the Asia Pacific is expected to grow at the highest CAGR during the forecast period. The growth in the region is primarily attributed to the fastest-increasing healthcare industry, especially in China, India, Malaysia, and Thailand. Moreover, the market will expand during the forecast period as a result of rising healthcare spending in the area and growing cleanliness concerns in the industry.

Povidone Iodine Market: Competitive Analysis

The global povidone iodine market is dominated by players like:

• JH Nanhang Life Sciences Co. Ltd.
• Zhangzhou Huafu Chemical Co. Ltd.
• Vishal Laboratories
• Nippon Shokubai Co. Ltd
• Huangshan Bonsun Pharmaceuticals Co. Ltd.
• Avrio Health L.P.
• Shanghai Yuking Water Soluble Material Tech Co. Ltd.
• Samrat Pharmachem Limited
• BASF SE
• R.N. Laboratories Pvt. Ltd.
• Medline Industries Inc.
• Lasa Supergenerics Limited
• Boai NKY Pharmaceuticals Ltd
• Adani Pharmachem Private Limited
• Glide Chem Private Limited

The global povidone iodine market is segmented as follows:

By Form

• Solution
• Ointments
• External Pads
• Swabs
• Spray
• Surgical Scrubs
• Eyedrops
• Others

By Concentration

• 0-5%
• 6-10%
• Others

By Application

• Antiseptic Agent
• Skin Sterilization
• Instrument Sterilization
• Antimicrobial Agent
• Disinfectant
• Aquaculture
• Others

By End-Use Industry

• Health Care & Pharmaceuticals
• Personal Care
• Agrochemicals
• Household & Commercial
• Others

By Region

• North America
  • The U.S.
  • Canada
• Europe
  • France 
  • The UK
  • Spain
  • Germany
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Southeast Asia
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• Middle East & Africa
  • GCC
  • South Africa
  • Rest of Middle East & Africa