The ultraviolet germicidal irradiation market was valued at US$ 168.4 Mn in 2014 and is projected to reach US$ 430.3 Mn by 2023, expanding at a CAGR of 10.9% during the forecast period from 2015 to 2023.
Albany, NY -- (SBWIRE) -- 06/06/2016 -- The ultraviolet germicidal irradiation market report evaluates each of the segments and sub-segments in detail for market trends, recent developments, outlook, and opportunities. The market overview section of the report explores market dynamics such as drivers, restraints, and opportunities that currently have strong impact on the global ultraviolet germicidal irradiation market and could influence the market in future. The global market for ultraviolet germicidal marker comprises of air disinfectant and surface disinfectant. Growth of the market is attributed to increased prevalence of infectious disorders and airborne diseases, rising incidence of hospital-acquired infections, and growing hygiene consciousness across the globe. The global ultraviolet germicidal irradiation market has been experiencing steady growth. The trend is expected to continue during the forecast period from 2015 to 2023.
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Based on type, the ultraviolet germicidal irradiation market has been segmented into air disinfectant and surface disinfectant. The air disinfectant segment has been further divided into in-duct air disinfection, recirculation units, upper room systems, and others (UV barrier system and overhead tank disinfection). The surface disinfectant segment has been categorized into area/room disinfection, equipment & packaging disinfection, lower room disinfection, and others. The market for ultraviolet germicidal irradiation are being developed because of increasing adoption and growth installation of UV germicidal lamps and other devices in U.S. in the past few years. The air disinfectant segment is likely to witness the fastest growth due to easy usage of UV germicidal lamps and low cost of installation and maintenance. The market segments have been extensively analyzed based on usefulness, efficacy, revenue, and geographical coverage. The market size and forecast in terms of US$ Mn for each segment has been provided for the period from 2013 to 2023. The report also provides the compound annual growth rate (CAGR %) for each market segment for the forecast period from 2015 to 2023.
Additional information such as recent developments in ultraviolet germicidal irradiation, market dynamics, and value chain analysis, provided in the market overview chapter would assist new and existing players to venture and explore latent market opportunities in impending years. The stakeholders of this report include companies involved in research and development and applications for UV germicidal irradiation. In order to provide a snapshot of this market to the stakeholders, executive summary section is included in this report, which summarizes the market size, trends, and competition for different regions.
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Heat map analysis has been provided in the market overview section to explain the intensity of competition between leading market players operating across the globe. This will help market players to take strategic decisions in order to strengthen their market positions and increase their market shares. The recommendations section included in the report assist the existing market players involved in the manufacture of UV germicidal irradiation products in targeting the emerging economies. The report also profiles major players in the global ultraviolet germicidal irradiation market based on various attributes such as company details, business overview, financial facts, business strategies and recent developments.
Major drivers likely to boost demand for and growth of ultraviolet germicidal irradiation products include increase in the incidence of hospital acquired infections and technological innovations. Apart from this, favorable regulatory scenario would assist in fueling market growth. The challenges for market growth include high installation and maintenance cost. However, the report also highlights various opportunities that are expected to boost market growth during the forecast period.
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The report includes the major key players in the ultraviolet germicidal irradiation (UVGI) market include American Ultraviolet, Atlantic Ultraviolet Corporation, General Electric, Halma plc (Aquionics), Philips, and UltraViolet Devices, Inc.
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