Global Ortho Phthalaldehyde Market Worth USD 8.53 Billion By 2031 | CAGR of 5.23%

Introduction

Ortho phthalaldehyde is used in hospitals, labs, and other industrial settings as a disinfectant and sterilant. The market is anticipated to expand considerably in the upcoming years, driven by increased healthcare facility demand, increased prevalence of hospital-acquired infections (HAIs), and technological improvements. Its production costs are also falling due to new and cutting-edge technology development, making it a more affordable substitute for conventional disinfectants like glutaraldehyde. For instance, improvements in catalysis technology have made it possible to design more cost-effective and sustainable processes for synthesizing ortho phthalaldehyde.

Market Dynamics

Increasing Number of Surgeries and Medical Procedures Drives the Global Market

The industry of ortho phthalaldehyde is being propelled forward by the ever-increasing volume of surgical and medical procedures, driven by the ever-increasing demand for healthcare services and the ever-increasing awareness of the significance of infection control. According to the Lancet Commission on Global Surgery findings, approximately 313 million surgical procedures are performed annually across the globe. The fact that ortho-phthalic aldehyde maintains a high level of stability over a broad pH range (i.e., PH3-9) without the need for exposure monitoring makes it an attractive option for use in the healthcare industry in applications involving disinfection and sterilization. As a result of rising investments in medical infrastructure, the market for ortho-phthalaldehyde in Asia-Pacific is anticipated to undergo significant expansion over the next few years.

Technological Advancements Creates Tremendous Opportunities

The equipment disinfectants and sterilization industry is the main driver of the ortho phthalaldehyde market. Ortho Phthalaldehyde is also utilized more frequently to analyze histamine and protein modification. In order to sterilize medical instruments susceptible to heat, ortho-phthalaldehyde (OPA), a high-level disinfectant, was approved by the FDA in October 1999. OPA is regarded as a safer alternative to glutaraldehyde as well. In its effects on bacteria, OPA has been found to have a wide range of biochemical targets. Ortho phthalaldehyde usage in protein modification and histamine testing is increasing, propelling market expansion over the forecast period.

Regional Analysis 

North America is the most significant global ortho phthalaldehydes market shareholder and is estimated to exhibit a CAGR of 5.1% during the forecast period. The rising preference for ortho phthalaldehyde over glutaraldehyde in various applications, including high-level disinfection, will propel North America to the forefront of the global ortho phthalaldehyde market in the coming years. Its rising popularity may be attributable to the fact that it is inert over a wide pH range and requires no activation. However, since the ortho phthalaldehyde solution can be reused after about 14 days, the regional market's growth will be bolstered by the government's encouragement of the use of recyclable and reusable materials to promote sustainable development. There will be a greater need for hospital waste sterilization, disinfection, and control as the number of hospitals and clinics in the area expands and the incidence of various infectious diseases rises.

Key Highlights

• The global ortho phthalaldehyde market was valued at USD 5.67 billion in 2022. It is projected to reach USD 8.53 billion by 2031, growing at a CAGR of 5.23% during the forecast period (2023-2031).
• Based on the end-user, the global ortho phthalaldehyde market is bifurcated into organic synthesis, isomeric Han LT hides in winemaking, testing, polymerization, disinfection, biochemistry, and others. The disinfection segment owns the highest market share and is expected to grow at a CAGR of 5.02% over the forecast period.
• Based on application, the global ortho phthalaldehyde market is segmented into amino acids and detection and quantization of ortho phthalaldehyde. The amino acids and detection segment dominates the global market and is expected to exhibit a CAGR of 4.98% over the forecast period.
• North America is the most significant global ortho phthalaldehydes market shareholder and is estimated to exhibit a CAGR of 5.1% during the forecast period.

Competitive Players

Competitive Players

The key players in the global ortho phthalaldehydes market are MP Biomedicals LLC, Sigma-Aldrich Co. LLC, TCI America, Parchem fine & specialty chemicals, DPX Fine Chemicals, Thermo Fisher Scientific Inc., Merck Millipore Corporation, Alfa Aesar, A Johnson Matthey Company, AK Scientific Inc, and Others.

Recent Developments

Market News

• In January 2023, the Binding Site Group ("The Binding Site"), a global leader in specialty diagnostics, was acquired by Thermo Fisher Scientific Inc., the world leader in providing science services, from a shareholder group led by European private equity firm Nordic Capital in an all-cash deal valued at EUR 2.3 billion, or USD 2.8 billion at the current exchange rate.

Segmentation

Global Ortho Phthalaldehyde Market: Segmentation

By End-User

• Organic Synthesis
• Isomeric Han LT Hides in Winemaking
• Testing
• Polymerization
• Disinfection
• Biochemistry
• Others

By Applications

• Amino Acids and Detection
• Quantization of High-Pressure Liquid Chromatography

By Regions

• North America
• Europe
• Asia-Pacific
• LAMEA