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2022

Povidone Iodine Market

Povidone Iodine Market Size, Share, Competitive Landscape and Trend Analysis Report by Formulation Type and Application : Global Opportunity Analysis and Industry Forecast, 2022-2031

MC : Renewable, Speciality and fine chemicals

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Author's: Sushant Moon| and Amit Narune | Eswara Prasad
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The global povidone iodine market was valued at $152.6 million in 2021, and is projected to reach $242.2 million by 2031, growing at a CAGR of 4.7% from 2022 to 2031.

Povidone, commonly known as polyvinylpyrrolidone (PVP), is primarily used as antiseptic and disinfectant agent. Povidone's chemical properties such as biological inertness and the ability to bind and form complexes with other materials make it a popular compound in many sectors. Many artificial tear and eye lubricant products contain povidone as a component. Some contact lens manufacturers include povidone as a wetting agent in their lenses to improve moisture retention. Povidone is further utilized as a binder in the manufacture of pharmaceutical tablets and liquid oral medications. Moreover, it is frequently found in cosmetic products such as shampoos, lipstick, hair spray, and gels. 

Povidone-Iodine-Market,-2022-2031

Povidone iodine can minimize the irritating or poisonous properties of other medications. it is frequently mixed with iodine as an antiseptic. This combination product is sold as Betadine®, a skin antiseptic, but it is also available in lower concentrations for treatment of the eyes and vaginal area. In addition, povidone iodine is commonly used as an antiseptic in surgical operations in hospitals. For healthcare professionals, nose and oral cleansing with povidone iodine has recently been recommended as a COVID-19 infection prevention intervention. As the effectiveness of this medication is unknown, using povidone iodine to prevent COVID-19 is still considered experimental.
 
The antibacterial properties of povidone iodine enable it to kill bacteria, viruses, and fungus. As a disinfectant, povidone iodine is becoming increasingly popular in the healthcare sector. Antiseptic product demand is rising as invasive procedures become more common and the healthcare business expands rapidly in both developed and developing nations. In addition, rise in prevalence of numerous diseases in hospitals and clinics has boosted the demand for instrument sterilizers, boosting the demand for povidone iodine.

Furthermore, rise in incidence of injuries at workplace propels the growth rate of povidone iodine market. Moreover, surge in adoption in pet animals and growing demand for animal health care products coupled with its usage in antiseptic cream formulation drive the market growth. The expansion of the end-use industries is further projected to bolster the market’s growth.

However, local swelling, inflammation, itching, and rash are common side effects of povidone iodine eye drops and skin formulations. Owing of its iodine concentration, povidone iodine can be corrosive if used excessively. Stomach distress, thyroid malfunction, and gastrointestinal burns can all result from ingestion. Heart and renal failure may develop in extreme situations. Iodine poisoning causes harmful effects that often necessitate expert treatment in a hospital environment. Thus, all these factors are hindering the demand for povidone iodine.

The global povidone iodine market is segmented on the basis of formulation type, application, and region. Depending on formulation type, the market is categorized into scrub, topical solution, ointments, and others (powder and gel). By application, it is segregated into skin sterilization, instrument sterilization, disinfectant, and others. Region wise, it is studied across North America, Europe, Asia-Pacific, and LAMEA. 

Major players operating in the global povidone iodine market include 3M Company, Avrio Health L.P., BASF SE, Glide Chem Private Limited, Lasa Supergenerics Ltd., Luxica Pharma Inc, NIPPON SHOKUBAI CO., LTD., Samrat Pharmachem Limited, Thatcher Company, and Vishal Laboratories.

Other players operating in the povidone iodine market are Evonik Industries AG, LG Chem Ltd., Sumitomo Seika Chemicals Co. Ltd, Sanyo Chemical Industries, and KAO Corporation.

Povidone Iodine Market
By Formulation Type
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Topical solution segment holds major market share and is projected as the most lucrative segment.

Povidone iodine Market, by Formulation Type

The topical solution segment accounted for the largest share, i.e., 34.3% followed by scrub segment. The topical solution segment registers the highest growth, growing around 4.9% CAGR during the forecast period, due to increased demand from the healthcare industry.

Povidone Iodine Market
By Application
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Disinfectant has garner major share in the Povidone Iodine market in 2021 and Instrument Sterilization is projected as the most lucrative segment.

Povidone iodine Market, by Application

The disinfectant segment accounted for the largest share of 35.4%. Instrument sterilization segment is the fastest growing segment, growing around 5.1% CAGR over the forecasted period. This is due to increased demand for instrument sterilization in COVID-19 pandemic.

Povidone Iodine Market
By Region
2031
Europe 
North America
Asia-Pacific
LAMEA

Europe holds a dominant position in 2021 and Asia-Pacifc region is projects as the most lucrative region growing at around CAGR of 5.3%.

Povidone iodine Market, by Region

Europe contributed the 41.9% market share in 2021, and is projected to grow at CAGR of 4.2% during the forecast period, owing to the presence of large consumer base for healthcare and pharmaceutical industry.

KEY BENEFITS FOR STAKEHOLDERS

  • The report provides in-depth analysis of the global povidone iodine market along with the current trends and future estimations. 
  • This report highlights the key drivers, opportunities, and restraints of the market along with the impact analysis during the forecast period.
  • The Porter’s five forces analysis helps to analyze the potential of the buyers & suppliers and the competitive scenario of the global povidone iodine market for strategy building.
  • A comprehensive market analysis covers the factors that drive and restrain the global povidone iodine market growth.
  • The qualitative data about market dynamics, trends, and developments is provided in the report.

IMPACT OF COVID-19 ON THE GLOBAL POVIDONE IODINE MARKET

  • The recent outbreak of coronavirus had a positive impact on the povidone iodine market. Surge in demand for povidone iodine even during the pandemic is due to its antibacterial properties. 
  • The povidone iodine market is expected to gain high traction, due to growing sanitation requirements. Moreover, gargling with both povidone iodine and chlorinated tap water to prevent upper respiratory tract infections is becoming increasingly important during the COVID-19 outbreak. 
  • Povidone iodine manufacturers are improving their designing and formulation capabilities to capitalize on revenue opportunities in dental devices and povidone iodine-induced dental floss products. Companies should increase their production capabilities because chlorhexidine-alcohol (CA) is an alternative to povidone iodine before elective CS (caesarean section), and the low cost of PVP-I offsets the advantages of CA. 
  • Povidone iodine companies are increasing their efficacy in in vitro and in vivo studies to investigate the effectiveness of povidone iodine against the virus that causes COVID-19.

Povidone Iodine Market Report Highlights

Aspects Details
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By Formulation Type
  • Scrub
  • Topical Solution
  • Ointments
  • Others
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By Application
  • Skin Sterilization
  • Instrument Sterilization
  • Disinfectant
  • Others
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By Region
  • North America  (U.S., Canada, Mexico)
  • Europe  (Germany, France, Belgium, Italy, Netherlands, Rest of Europe)
  • Asia-Pacific  (China, Japan, India, South Korea, Australia, Rest of Asia-Pacific)
  • LAMEA  (Brazil, UAE, South Africa, Saudi Arabia, Rest of LAMEA)
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Key Market Players

NIPPON SHOKUBAI CO., LTD., Lasa Supergenerics Ltd., Luxica Pharma Inc, Avrio Health L.P., BASF SE, 3M Company, Thatcher Company, Samrat Pharmachem Limited, Glide Chem Private Limited, Vishal Laboratories

Analyst Review

According to the insights of the CXOs of top-level companies, povidone iodine witnessed significant growth in recent years. This is attributed to increased demand for antiseptic and disinfectant products. In addition, the rising demand for skin antiseptic products is also propelling the market growth. The demand for skin antiseptic products has increased due to rise in awareness toward hospital-acquired diseases. This is consequently surging the demand for chemicals such as povidone iodine, as it is effective in killing germs and harmful bacteria, which are the most common cause of disease transmission in hospitals. 

Moreover, it is used to sterilize the skin before blood test as well as in spinal and epidural anesthesia. As a result, the overall market outlook is likely to be driven by increase in the number of surgical procedures. Furthermore, for skin sterilization, povidone iodine is an effective and low-cost alternative to alcohol, which drives the demand from hospitals and clinics. In addition, povidone iodine serves as a potential endometritis prophylaxis medication, and has a high probability of becoming one of the most successful treatments overall. On the other hand, market players of povidone iodine are increasing their utilization of povidone iodine to prevent secondary outcomes such as surgical wound infections and fever linked with endometritis. Povidone iodine is being used to create incremental opportunities in applications, including presurgical vaginal irrigation to prevent postoperative wound infections and fever in women.
 

Author Name(s) : Sushant Moon| and Amit Narune | Eswara Prasad
Frequently Asked Questions?

Increased demand from pharmaceutical industry is driving the demand for povidone iodine market.

The global povidone iodine market was valued at $152.6 million in 2021, and is projected to reach $242.2 million by 2031, growing at a CAGR of 4.7% from 2022 to 2031

3M Company, Avrio Health L.P., BASF SE are some of the most established players of the povidone iodine market.

Pharmaceutical industry is projected to increase the demand for povidone iodine.

By Formulation Type Scrub • Topical Solution • Ointments • Others By Application Skin Sterilization • Instrument Sterilization • Disinfectant • Others

Instrument sterilization application is expected to drive the adoption of povidone iodine market.

COVID-19 has increased the demand for povidone iodine owing to increased demand for instrument sterilization during COVID-19 pandemic.

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Povidone Iodine Market

Global Opportunity Analysis and Industry Forecast, 2022-2031