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):
Atlantic Ultraviolet Corporation
Excelitas Technologies Corp.
General Electric Company
UltraViolet Devices, Inc.
Key Topics Covered:
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
For more information about this report visit https://www.researchandmarkets.com/r/1vbysj
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