Global Povidone Iodine Market Expected To Reach $242.2 Million by 2031

According to a new published report by Allied Market Research titled, “Povidone iodine Market by Type and Application: Global Opportunity Analysis and Industry Forecast, 2022–2031,” 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 iodine is a complex element of iodine, hydrogen iodine, and povidone which appears as a brown powder. It is available in liquid and powder form and is widely used as an antiseptic and disinfectant in healthcare applications.

Povidone, also called as polyvinylpyrrolidone, is an excellent choice for trauma patients and currently utilized for artificial tears and ocular lubrication. In addition, some contact lens makers employ povidone as a wetting agent in the lens to increase moisture retention capacity. Furthermore, povidone iodine is utilized in tablet and liquid oral medication as binders. It is further used in cosmetics such as lipstick, gels, and toothpaste.

The growth of the global povidone iodine market is expected to be driven by increase in application of povidone iodine as an antiseptic and disinfectant. The global need for veterinary antiseptic products is being fueled by surge in demand for high-quality animal-based products. Owing to their superior antibacterial efficiency and mildness, povidone iodine-based veterinary medicines are widely used as antiseptics.

The primary market driver is increase in the use of povidone iodine as a vaginal wash before a caesarian section. Infectious diseases during delivery and the puerperium are responsible for around 10% of maternal death. The influence of maternal illnesses during childbirth on neonatal mortality is significant. Before a caesarean section, the World Health Organization (WHO) recommends using a povidone iodine vaginal washing solution. When compared to other options, povidone iodine is likely to cause the lady the least amount of discomfort, which is expected to generate beneficial opportunities for the povidone iodine industry. However, overuse of povidone iodine might cause damaging effects such as local swelling, irritation, itching, and rashes, which hinders the povidone iodine market growth.

The povidone iodine market is segmented into formulation type, application, and region. By formulation type, the market is categorized into scrub, topical solution, ointments, and others (powder and gel). On the basis of application, it is segregated into skin sterilization, instrument sterilization, disinfectant, and others. Region wise, the market 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.

The 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.

KEY FINDINGS OF THE STUDY

• The report outlines the current povidone iodine market trends and future scenario of the market from 2021 to 2030 to understand the prevailing opportunities and potential investment pockets.
• The povidone iodine market size is provided in terms of revenue and volume.
• On the basis of end-use industry, the personal care industry has garnered 28.3% of market share and is projected to grow at 2.1% during the forecasted period.
• On the basis of formulation type, the topical solution segment is expected to grow at a CAGR of 4.9%, in terms of revenue, during the forecast period.
• Depending on application, the disinfectant segment is expected to grow at a CAGR of 4.6%, in terms of revenue, during the forecast period.
• Region wise, Asia-Pacific garnered a share of 29.4% in 2021 in terms of revenue.