The presence of a limited number of players indicates towards the consolidated structure of the global hydrogen peroxide (H2O2) measurement market. The leading participants, namely, Analytical Technology Inc., Dragerwerk AG & Co., and Interscan Corp., are working actively on the advancements of hydrogen peroxide measurement devices in order to bring accuracy to their calibration and sensitivity, finds a report by Transparency Market Research.
As these devices need frequent servicing for effective operation, they are also are focusing on expanding their after-sales service network to enhance the customer experience and satisfaction. Going forward, these companies are aiming to tap the potential in emerging economies in Asia Pacific, Latin America, and Africa through partnerships with local suppliers.
Growing Application of HPV Decontamination Systems in Sterilization of Indoor Air Boosts Demand for Hydrogen Peroxide Measurement Devices
Nowadays, the need to enhance the indoor air quality, especially in offices, hospitals, laboratories, research and development centers, and commercial places, has drawn the focus of a number of organizations across the world. This, consequently, has increased the adoption of hydrogen peroxide vapor (HPV) decontamination systems for the sterilization of indoor air, thereby boosting the demand for hydrogen peroxide measurement devices significantly.
In addition to this, the efficiency of these devices in determining the presence of dissolved hydrogen peroxide in drinking water is likely to increase their application in water treatment plants in the near future. The growing significance of treating industry waste before their disposal is also projected to fuel the demand for these devices over the forthcoming years.
On the other hand, the difficulty in performing calibration of hydrogen peroxide measurement devices, especially H2O2 sensors, makes the designing of these devices challenging for manufacturers. They also face issues in obtaining a consistent concentration of hydrogen peroxide during the process of calibration, which impacts the accuracy of these devices. The market’s profitability is being hurt by these factors to a significant extent, which may affect its growth in the long run.
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H2O2 Detectors to Surpass H2O2 Sensors in terms of Demand
TMR estimates the global hydrogen peroxide measurement market to expand at a healthy CAGR of 5.70% between 2016 and 2024. During this period, the opportunity in hydrogen peroxide measurement devices is projected to increase from US$81.4 mn in 2015 to US$133.3 mn by the end of the forecast period. In terms of production volume, the number of total units produced is likely to touch 137.64 thousand units by 2024.
Among all types of hydrogen peroxide measurement devices, 2015 witnessed maximum demand for H2O2 sensors. However, H2O2 detectors are likely to supersede the former with a demand share of nearly 44% by the end of the forecast period.
Currently, Europe leads the worldwide hydrogen peroxide measurement market and is expected to remain dominant throughout the forecast period. In terms of application, the healthcare sector has emerged as the biggest application area for hydrogen peroxide measurement devices. Analysts anticipate this trend to remain the same in the coming years.