According to a new market report published by Transparency Market Research “Ultraviolet Germicidal Irradiation Market – (Type – Air Disinfectant: In-duct Air Disinfection, Recirculation Units, and Upper Room Systems; Surface Disinfectant: Area Disinfection, Equipment & Packaging Disinfection, and Lower Room Disinfection) – Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2015–2023”, the global ultraviolet germicidal irradiation market was valued at US$168.4 mn in 2014 and is projected to expand at a CAGR of 10.9% from 2015 to 2023 to reach of US$430.3 mn in 2023.
The report explores the current and emerging trends in the ultraviolet germicidal irradiation market. UV germicidal devices market is witnessing rapid transformation. An equipped with technically advanced equipment ensures better care and enhanced efficiency. Disinfection of air and surface is important from irradiating bacteria, viruses, molds, and other pathogens. Air and surface disinfectants are the most important equipment in the ultraviolet germicidal irradiation market. Geographically, the ultraviolet germicidal irradiation market has been studied for five prominent regions: North America, Europe, Asia Pacific, Latin America, and Rest of the World. These regions have been further assessed based on major contributing countries such as the U.S. and Canada (North America); the U.K. and Germany ( Europe); Japan, China, and Rest of Asia Pacific (Asia Pacific); Brazil and Rest of Latin America (Latin America), and Rest of the World.
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Rising prevalence of hospital-acquired infections, growing incidence of infectious disorders, and airborne diseases, and increase in health concern among people are likely to propel the market during the forecast period. In terms of type, the report analyzes the market by air disinfectant and surface disinfectant. Factors such as contamination of indoor air by microbial pollutants responsible for sick building syndrome (SBS) and building-related illness (BRI), and technological advances leading to product innovation have been anticipated to contribute to the growth of the ultraviolet germicidal irradiation market during the forecast period from 2015 to 2023. Increased concern for disinfection and purification are considered one of the major growth factor as it indirectly boosts the demand for ultraviolet germicidal irradiation equipment. On the other hand, high cost associated with installation and maintenance of these devices is likely to hamper market growth.
North America was the largest market for ultraviolet germicidal irradiation devices, followed by Europe, in 2014. The market in North America was valued at US$ 168.4 Mn in 2014. The market in Latin America is projected to expand at the highest CAGR (%) during the forecast year. The U.K. and Germany are important markets for ultraviolet germicidal irradiation in Europe attributed by rapidly increasing population, growing need of people, and increasing demand for improved lifestyle. According to the European Centre for Disease Prevention and Control (ECDC) estimates, in 2013, Europe (including 30 nations) accounted for 4.1 million hospital acquired infection (HAI) patients of the global HAI population, with 37,000 deaths each year. However, according to the WHO, the average prevalence rate of hospital infections in the region was around 7.1% in 2013.
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Asia Pacific and Latin America are witnessing increasing adoption of ultraviolet germicidal devices. Large population makes Latin America a potential market for ultraviolet germicidal irradiation. However, lack of funding for high cost ultraviolet germicidal equipment is one of the major restraints of the market. According to the WHO, several low to medium income countries in RoW had high prevalence of hospital infections in 2013. For instance, prevalence rate was 14% in Brazil, 13.4% in Turkey, 19.1% in Albania, 18.7% in Mali, 17.8% in Tunisia, and 17.8% in Morocco.
The report concludes with the company profiles section and includes key information about the major players who are actively participating in this market. The company profiles included in this report are framed in terms of company overview, financial overview, business strategies, recent developments and product portfolio. Key players profiled in the ultraviolet germicidal irradiation market study include American Ultraviolet, Atlantic Ultraviolet Corporation, General Electric, Halma plc (Aquionics), Philips, and UltraViolet Devices, Inc.
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