A Povidone Iodine Market Size by Formulation Type (Scrub, Topical Solution, Ointments), by Concentration (10% Solution, 7.5% Solution), By Application (Skin Sterilization, Instrument Sterilization, Disinfectant) Industry Analysis Report, Regional Outlook

Povidone Iodine Market Size by Formulation Type (Scrub, Topical Solution, Ointments), by Concentration (10% Solution, 7.5% Solution), By Application (Skin Sterilization, Instrument Sterilization, Disinfectant) Industry Analysis Report, Regional Outlook, Application Potential, Covid-19 Impact Analysis, Price Trend, Competitive Market 2022- 2028

The povidone iodine market is estimated to witness sturdy growth by 2028 on account of widespread product application across the pharmaceutical industry worldwide. In addition, mounting demand for antiseptic agents and disinfectants across the globe is likely to further foster market development over the forecast period.

Recent studies have shown that povidone iodine gargles and mouthwash are effective against the SARS-CoV-2 virus. In view of the ongoing COVID-19 pandemic, specialists suggested that routine gargling and mouthwash with an antiseptic with virucidal properties could help control the spread of the virus. Growing awareness among people regarding the antiseptic properties of povidone iodine has accelerated product demand, which has augmented industry uptake during the pandemic.

Furthermore, to monetize emerging trends in the market, industry participants have been employing gainful strategies, which has positively impacted overall business dynamics. For instance, in February 2021, Avrio Health L.P., a leading manufacturer of consumer health products, launched its novel oral antiseptic pre-procedural rinse for professional use, dubbed the Betadine Antiseptic Oral Rinse. The Betadine Antiseptic Oral Rinse has been developed especially for oral use in preparation for dental surgery, injection, and tooth extraction to be administered by a professional.

To cite another instance, in February 2020, Lasa Supergenerics Limited, an India-based manufacturer of active pharmaceutical ingredients (API) for the veterinary industry, announced the acquisition of Harishree Aromatics And Chemicals Private Limited, a key supplier of pharmaceutical intermediates and veterinary API. The addition of a complementary business enabled Lasa Supergenerics to enhance its business expansion.

The povidone iodine market has been segmented on the basis of application, formulation type, concentration, and region. In terms of formulation type, the market has further been divided into ointments, scrub, topical solution, and others. The others sub-segment is slated to amass substantial gains by 2028, developing at a CAGR of more than 4.0% over the assessment period. Other formulation types of povidone iodine commonly include nasal spray, eye drop solution, and stick.

From the application point of view, the povidone iodine market has been classified into instrument sterilization, skin sterilization, disinfectant, and others. In 2021, the others sub-segment held a valuation of around USD 3.70 million and is projected to expand at a considerable growth rate through the review timeline. Other applications of povidone iodine include aquaculture and poultry.

From the regional perspective, the Latin America povidone iodine industry is poised to gain significant traction over the forecast timeframe to garner a revenue of about USD 15.0 million by the end of 2028. Meanwhile, the Middle East & Africa povidone iodine market is anticipated to be worth more than USD 9.0 million by the end of the analysis period.