The global antibacterial glass market is expected to reach USD 222 million by 2020, according to a new study by Grand View Research, Inc. Need to prevent the growing number of nosocomial or Hospital Acquired Infections (HAI) is expected to be the key driving force for the market over the forecast period. Antibacterial glass offers an architectural solution for the prevention of infections, which is expected to drive product demand in healthcare settings.
Increasing demand for medical device coatings is also expected to positively impact the global market over the next six years. Low consumer awareness regarding benefits offered by these products may restrain industry growth over the next few years. Technological advancements, such as the development of antibacterial glass for touchscreen displays by U.S. based Corning is expected to be an opportunity for industry participants.
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Further key findings from the study suggest:
- In terms of active ingredient used, silver dominated the global market and accounted for 92.3% of the overall market share in 2013. It is also expected to grow at the fastest rate of 6.8% from 2014 to 2020. This is mainly because of its effectiveness in imparting antibacterial properties to the glass and toxicity to microorganisms.
- Hospitals are expected to be the largest and fastest growing application over the forecast period. The segment accounted for 42.6% of the global market in 2013, and is expected to grow at a CAGR of 7.1% from 2014 to 2020. Hospitals are expected to remain the key application area due to the need for ensuring a sterile environment, particularly in vulnerable spaces such as ICUs and geriatric wards.
- Europe is expected to remain the market leader over the next six years, and contributed 60.6% to the global market revenue in 2013. It is further expected to grow at a CAGR of 7.1% from 2014 to 2020, mainly on account of the presence of key industry participants in the region.
- Companies operating in the market include AGC Glass Europe, Nippon Sheet Glass (NSG), Saint Gobain, Corning Inc., etc. The market is consolidated in nature, and characterized by price sensitivity among consumers. Product innovation is expected to remain the key growth strategy over the forecast period.
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About Grand View Research
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, the company offers market intelligence studies ensuring relevant and fact-based research across a range of industries including technology, chemicals, materials, healthcare and energy.
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