Iodine has a crucial application in the field of medicine as an antiseptic. Iodine-based antiseptics are widely used to disinfect and sanitize skin and mucous membranes, preventing infections in wounds and surgical sites. The most common form is povidone-iodine, which releases iodine gradually to eliminate bacteria, viruses, and fungi. Its broad-spectrum antimicrobial properties make it valuable for pre-surgical skin preparation, wound care, and general hygiene in healthcare settings. Its effectiveness against various pathogens contributes to its role in water purification, demonstrating its versatility in safeguarding public health by preventing the spread of infections through medical and sanitation applications.
According to Data Bridge Market Research analyses the Global Iodine Market is expected to witness market growth at a rate of 5.4% in the forecast period of 2022 to 2029.
"Rise in iodine deficiency in people boosts the market growth"
The iodine market is driven by a notable increase in the number of individuals with low iodine levels in developed countries. As dietary habits evolve and processed foods become more prevalent, iodine intake has decreased for some populations. Insufficient iodine levels can lead to thyroid-related issues and impact overall health. Consequently, there is a growing awareness of the importance of iodine supplementation, driving demand for iodine-rich products and supplements in the market.
What restraints the growth of the global iodine market?
“Toxicity associated with excessive iodine consumption hampers the market growth”
The iodine market is restrained due to the potential for toxicity associated with excessive iodine consumption. While iodine is crucial for thyroid function, an intake beyond recommended levels can lead to adverse health effects, including thyroid dysfunction and other complications. This risk is particularly relevant as iodine is used in various products, including supplements and certain processed foods. Striking a balance between meeting nutritional requirements and preventing toxicity poses a challenge for the iodine market.
Segmentation: Global Iodine Market
The global iodine market is segmented on the basis of source, form, and application.
- On the basis of source, the iodine market is segmented into underground brines, seaweeds, caliche ore and recycling
- On the basis of form, the Iodine market is segmented into inorganic salts and complexes, elemental and isotopes, and organic compound
- On the basis of application, the iodine market is segmented into pharmaceuticals, biocides, iodophors, x-ray contrast media, catalyst in polymer processing, optical polarizing films, human nutrition, fluorochemicals, animal feed, and others
Regional Insights: North America dominates the Global Iodine Market
North America dominance in the iodine market is intricately linked to the region's increasing meat consumption, notably within the expanding poultry industry. As meat intake rises, so does the demand for iodine, an essential element for thyroid hormone synthesis crucial to metabolism. The poultry sector, a major component of the meat industry, contributes significantly to this trend, relying on iodine supplementation for optimal animal health. The forecasted growth in both meat consumption and the poultry industry solidify North America's position in the iodine market.
Europe is expected to experience the significant growth during the forecast period of 2022-2029, due to the rising healthcare expenditures by governments in the region and the increasing number of cancer cases. The substantial investment in healthcare infrastructure enhances the demand for iodine in pharmaceuticals, medical devices, and diagnostic tools.
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The Prominent Key Players Operating in the Global Iodine Market Include:
- SQM S.A (Chile)
- ISE Chemicals Corporation (South Korea)
- IOCHEM (Switzerland)
- Algorta (Norte Chile)
- NIPPOH CHEMICALS CO. LTD (Japan)
- Kanto Natural Gas Development Co. Ltd. (Japan)
- GODO SHIGEN Co, Ltd (Japan)
- TOHO EARTH TECH, INC. (Japan)
- Deep Water Chemicals, Inc. (U.S.)
- Toyota Tsusho Corporation (Japan)
- AJAYSQM Group (India)
- AZERYOD LLC (Azerbaijan)
- ACF Minera S.A (Argentina)
- Prachi Pharmaceuticals Private Limited (India)
- Salvi Chemicals Industries Ltd. (India)
Above are the key players covered in the report, to know about more and exhaustive list of global iodine market companies contact, https://www.databridgemarketresearch.com/contact
Research Methodology: Global Iodine Market
Data collection and base year analysis are done using data collection modules with large sample sizes. The market data is analyzed and estimated using market statistical and coherent models. In addition, market share analysis and key trend analysis are the major success factors in the market report. The key research methodology used by DBMR research team is data triangulation which involves data mining, analysis of the impact of data variables on the market, and primary (industry expert) validation. Apart from this, data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Company Market Share Analysis, Standards of Measurement, global vs Regional and Vendor Share Analysis. Please request analyst call in case of further inquiry.
