Over the past few years, the global povidone iodine market has recorded an increase in the number of research activities. The rise can be credited to the growing endeavor for gaining a deeper understanding regarding the various benefits of using the product. One of these studies was intended at exploring PVP-I’s anti-inflammatory effects and the fundamental molecular mechanism on LPS-stimulated airway epithelial cells.
Furthermore, the research was also aimed at investigating whether nasal instillation could lead to the suppression of mucosal inflammation in non-eosinophilic CRS mice. Similar studies are expected to provide clarity on the different applications of the product. According to the latest report published by Global Market Insights Inc., povidone iodine market size is expected to hit USD 211.5 million by 2028.
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Enlisted below are some of the key factors that are anticipated to drive the business landscape across various regions:
- Asia Pacific registers an increase in studies supporting povidone iodine throat sprays
Asia Pacific povidone iodine market share is anticipated to record appreciable growth through 2028. This upsurge can be attributed to an increase in research initiatives across various countries.
For instance, in April 2021, Singaporean researchers demonstrated the effectiveness of an antiseptic throat spray for decreasing the spread of SARS-CoV-2 in high-transmission settings. This constituted the first study depicting the benefits of preventive or prophylactic therapy in the reduction of COVID-19 infection with either povidone-iodine throat spray or oral hydroxychloroquine.
The research was conducted among quarantined individuals living in a high exposure and closed setting. Considering other regions, the industry value in Europe is projected to expand at a CAGR of 4.4% over the forecast period.
- Growing product adoption as an antiseptic agent in hospitals
The povidone iodine market value from disinfectant application surpassed USD 12.5 million in 2021 and is poised to exhibit a growth rate of 4% through the anticipated period.
The product finds wide adoption in hospital settings as an antiseptic agent in surgical procedures. This is because the chemical properties of the product help in decreasing the toxic or irritating nature of other drugs. The solution is commercially available as the skin antiseptic Betadine. However, it is also available in less concentrated forms for usage in the vagina and eyes.
These aspects are expected to impel the demand for povidone iodine solution over the forthcoming years.
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- Surging collaborative steps and in-vitro laboratory studies by market players
To secure a strong industry foothold, several povidone iodine manufacturers are focusing on the adoption of collaborative initiatives such as mergers, acquisitions, and partnerships.
Citing an instance, in October 2021, Avrio Health published findings from two in vitro laboratory studies examining Betadine antiseptic products against four coronaviruses deployed as a surrogate for the COVID-19 virus. The studies depicted that Betadine Gargle, Betadine Surgical Scrub, and Betadine Topical Solution showed virucidal activity against the studied specimens.
LASA SUPERGENERICS, Boai NKY Pharmaceuticals, Glide Chem, R.N Laboratories, BASF SE, Avrio Health, Samrat Pharmachem, and others are some of the major companies in the povidone iodine industry.
To sum up, the increasing healthcare spending in emerging economies like India and China is expected to create new opportunities for business owners. Further, the industry is likely to record a surging demand for povidone iodine powder and other products across various regions.
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