Dublin, Aug. 01, 2022 (GLOBE NEWSWIRE) -- The "Ultraviolet Germicidal Irradiation (UVGI) - Global Market Trajectory & Analytics" report has been added to ResearchAndMarkets.com's offering.
Amid the COVID-19 crisis, the global market for Ultraviolet Germicidal Irradiation estimated at US$454.4 Million in the year 2022, is projected to reach a revised size of US$682.9 Million by 2026, growing at a CAGR of 12% over the analysis period. Air Disinfectant, one of the segments analyzed in the report, is projected to grow at a 12.3% CAGR to reach US$646.1 Million by the end of the analysis period.
The COVID-19 crisis is fostering the ultraviolet (UV) disinfection equipment market by creating a pressing need to effectively deal with the deadly virus. UV disinfection represents a chemical-free process that exposes pathogens in a gaseous or liquid medium or on surfaces to UV irradiation for deactivating the DNA to hinder reproduction of the pathogen.
Several studies have indicated that the use of a specific wavelength of UV light can kill over 99.9% of COVID-19 viruses present on surfaces and in airborne droplets. In addition, UVC germicidal irradiation offers effective physical disinfection as well as holds optimal germicidal effect and doesn`t leave any residues.
These benefits have resulted in strong demand and adoption of UV disinfection equipment across healthcare settings, offices and other work spaces. The COVID-19 outbreak provided a significant impetus to global shipment of UV disinfection equipment, a trend that is unlikely to abate soon.
After a thorough analysis of the business implications of the pandemic and its induced economic crisis, growth in the Surface Disinfectant segment is readjusted to a revised 10.3% CAGR for the next 7-year period. This segment currently accounts for a 14.2% share of the global Ultraviolet Germicidal Irradiation market.
The U.S. Market is Estimated at $149.1 Million in 2022, While China is Forecast to Reach $73.7 Million by 2026
The Ultraviolet Germicidal Irradiation market in the U.S. is estimated at US$149.1 Million in the year 2022. The country currently accounts for a 33.51% share in the global market. China, the world second largest economy, is forecast to reach an estimated market size of US$73.7 Million in the year 2026 trailing a CAGR of 15% through the analysis period. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 10.2% and 10.6% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 10.8% CAGR while Rest of European market (as defined in the study) will reach US$81.2 Million by the close of the analysis period.
Select Competitors (Total 44 Featured):
- American Ultraviolet
- Atlantic Ultraviolet Corporation
- Ensavior
- Excelitas Technologies Corp.
- General Electric Company
- Halma plc
- Signify Holding
- UltraViolet Devices, Inc.
Key Topics Covered:
I. METHODOLOGY
II. EXECUTIVE SUMMARY
1. MARKET OVERVIEW
2. FOCUS ON SELECT PLAYERS
3. MARKET TRENDS & DRIVERS
- Upper-Room UVGI: A Useful Ventilation Solution to Combat COVID-19
- Rising Incidence of Hospital Acquired Infections Propel Demand
- Focus on HAI Prevention Practices Drives Demand
- High Touch Surfaces: The Major Causative Factor in HAIs
- Renewed Threat of Infectious Diseases to Drive Adoption
- Ultraviolet Germicidal Irradiation for Commercial Settings
- Mobile UV Systems and Handheld UV Sanitizers Come to the Fore
- Trend towards Preventive Healthcare Benefits Disinfectants Market
- Market Witnesses Influx of New UV Disinfection Robots
- The Way Forward
- Mitigating COVID-19 Transmission Risk in Hospitals Gets Interesting at UV Disinfection Robot Levels
- Lucrative Prospects in the Airports Vertical
- Efficiency and Improved ROI Make UV-C Disinfection Technology an Ideal Option for Hospitality Industry
- Benefits of UV-C Disinfection for Hospitality and Lodging Industry
- Restaurants Bet on UV Germicidal Irradiation for Safer Environments
- Robust Opportunities in Cinema Halls & Shopping Malls
- Stringent Regulations Regarding Food Safety to Augment Deployment of UV Disinfection
- Food Sterilization Applications for UVC Germicidal Lamps
- Cold Storage and Refrigerated Spaces for Fruits and Vegetables Augment Demand
4. GLOBAL MARKET PERSPECTIVE
III. MARKET ANALYSIS
IV. COMPETITION
For more information about this report visit https://www.researchandmarkets.com/r/1vbysj
