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Report Overview: Healthcare Wipes MarketThe global healthcare wipes market size was valued at USD 8.71 billion in 2020 and is anticipated to grow at a compound annual growth rate (CAGR) of 6.5% from 2021 to 2027. Rising global awareness regarding sanitation and personal hygiene and increasing cross-contamination problems are expected to generate the demand for healthcare wipes over the forecast period 2021-2027. Healthcare wipes are of numerous types including pre-injection wipes, non-invasive antiseptic wipes, skin cleaning wipes, macerator-friendly body wipes, and bath wipes. These products are available in a range of packaging styles, such as flow packs, sachets, buckets or tubes. Furthermore, increasing use of healthcare wipes owing to their ability to monitor and avoid infection is a prominent factor strengthening the growth of the market. Health and hygiene concerns are increasing among individuals worldwide on account of rising awareness regarding the impact of COVID-19 on the population. The market has been witnessing significant developments in the healthcare wipes industry worldwide in the wake of the ongoing pandemic crisis. Healthcare wipes are in high demand currently. However, with the supply chain disruptions and widening supply-demand gaps worldwide, the industry is currently facing significant challenges with regards to ramping up manufacturing capacities to help mitigate the supply shortage. In order to address this supply shortage, several companies have begun leveraging their mass production capabilities to manufacture these products for their domestic markets. Furthermore, extensive use of healthcare wipes for various purposes, including health-related equipment cleaning, personal care sanitization, and skin cleansing, is another key factor favoring market growth. Increasing use of healthcare wipes in other fields of operation, such as food preparation/packaging environments, and in supermarkets to deter harmful bacteria is encouraging prominent manufacturers to innovate their product offerings. For instance, in 2018, Betz & Betz LLC launched a new line of healthcare wipes under the brand Cleanbuds. These products were designed to remove dust, wax or particles from Bluetooth, earphones, and other audio devices. Such instances of product innovation are expected to fuel demand for healthcare wipes around the globe across various industry verticals, thereby aiding market growth.In addition, advancement in chemical processing technology that is used to make such products is anticipated to offer lucrative business opportunities in the foreseeable future. Furthermore, beneficial properties of healthcare wipes, including infection prevention, make them ideal for use in a wide variety of applications, including easily contaminated surfaces and tools, and for daily use. However, strict government regulations and rising global concerns regarding the presence of chemicals in healthcare wipes, which are not appropriate for some skin or body types, are major factors that are expected to hamper the growth of the market to some degree in the near term.
Product Insights: Healthcare Wipes MarketIn terms of product, the market for healthcare wipes is segmented into two categories, namely dry and wet wipes. The dry wipes segment lead the market with a share of 60.1% in 2019 and is expected to maintain its lead throughout the forecast period. This can be attributed to growing demand for the product for various purposes in hospitals, medical facilities, and nursing homes. The wet wipes segment is expected to expand at the fastest CAGR of 7.2% over the forecast period. The appeal of these products in the healthcare industries is primarily due to their convenience and ease of use. The combination of work demands within the healthcare sector and rising number of patients worldwide are some of the key factors driving the demand for wet wipes worldwide as these products help accomplish everyday tasks in considerably less time.
Distribution Channel Insights: Healthcare Wipes MarketBy distribution channel, the market for healthcare wipes is segmented into four categories, namely pharmacies and drugstores, supermarkets and hypermarkets, e-commerce, and other distribution channels. The pharmacies and drugstores segment emerged as the largest distribution channel with 43.8% share in 2019. Mushrooming growth of these retail formats worldwide has been significantly contributing to the growth of the segment over the years. E-commerce is likely to emerge as the fastest growing segment over the forecast period. While e-commerce has gained prominence in the retail sector to a large degree, it represents a small percentage of overall retail sales worldwide.The lack of the need to check before purchasing and quick accessibility of online shopping push the interest of customers towards e-commerce considerably.
Regional Insights: Healthcare Wipes MarketNorth America emerged as the largest regional market for healthcare wipes in 2019 with a share of 33.3% and is anticipated to witness the fastest growth over the forecast period. This is attributed to various factors including rapid urbanization, increasing number of hospitals in countries, such as Canada and U.S., and rising consumer awareness regarding the prevention of potentially dangerous microbes. Europe is expected to witness considerable growth over the forecast period. With rising consumer knowledge regarding personal hygiene, vendors in this region are actively investing in research and development to introduce novel and premium products. Furthermore, the novel coronavirus outbreak has been creating a healthy demand for healthcare wipes in countries, such as Italy, Spain, and U.K.
Key Companies & Market Share Insights: Healthcare Wipes MarketThe market is anticipated to present a lucrative opportunity for the prominent market players over the forecast period. Prominent market participants compete primarily in terms of price and product quality. The threat of new entrants within the industry is expected to be low throughout the forecast period, given the dominance of internationally reputed market players, including Johnson & Johnson Private Limited and Procter and Gamble. However, accelerating growth momentum will provide tremendous opportunities for growth and concerns about wet wipes disposal will challenge the growth of the market participants. Some of the prominent players in the global healthcare wipes market include: Procter and Gamble
Key companies Profiled: Healthcare Wipes Market Report
This report forecasts revenue growth at the global, regional, and country levels and provides an analysis of the latest industry trends and opportunities in each of the sub-segments from 2016 to 2027. For the purpose of this study, Trusted Business Insights has segmented the global healthcare wipes market report based on product, distribution channel, and region:
- Procter and Gamble
- Johnson & Johnson Private Limited
- Diamond Wipes International, Inc.
- The Clorox Company
- Kimberly-Clark Corporation
- Costco Wholesale Corporation
- Reckitt Benckiser Group plc
- Procotech Limited
- Beiersdorf AG
Product Outlook (Revenue, USD Million, 2016 - 2027)
Distribution Channel Outlook (Revenue, USD Million, 2016 - 2027)
- Pharmacies & Drugstores
- Supermarkets & Hypermarkets
Table of Contents Chapter 1. Methodology and Scope 1.1. Market Segmentation & Scope 1.2. Market Definition 1.3. Information Procurement 1.3.1. Purchased Database(Statista, FactSet, Bloomberg, SDC Platinum) 1.3.2. IFF Internal Database 1.3.3. Secondary Sources & Third - Party Perspectives 1.3.4. Primary Research 1.4. Information Analysis 1.4.1. Data Analysis Models 1.5. Market Formulation & Data Visualization | read more...