Ultraviolet Germicidal Irradiation Market to Account US$430.3 Million by 2023; Regulatory Mandates in U.S. Put North America in Leading Position: TMR

May 16, 2016, 11:30 ET from Transparency Market Research

ALBANY, New York, May 16, 2016 /PRNewswire/ --

Transparency Market Research has published a new market report titled, "Ultraviolet Germicidal Irradiation Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2015 - 2023." According to the report, the global ultraviolet germicidal irradiation market was valued at US$168.4 mn in 2014 and is anticipated to expand at a CAGR of 10.9% from 2015 to 2023 to reach US$430.3 mn by 2023.

Ultraviolet germicidal irradiation (UVGI) is termed as the use of ultraviolet wavelengths of light in the germicidal range (200nm to 320 nm) for disinfection of air and surface. UVGI is used to reduce airborne disease transmission is the focus of the course and conjunction with HVAC systems to improve indoor environmental quality (IEQ). The research also illustrates that the others segment, which comprises the payers and providers of this market, is expected to be the fastest growing market during the forecast period from 2015 to 2023. The recent regulatory reforms in the U.S. have effectively increased the number of people and companies opting for intelligent and effective way of germicidal irradiation.

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Technological advancements have brought several changes in the way disinfection procedures are carried out in the ultraviolet germicidal irradiation market. The UVGI market has been segmented into air disinfectant and surface disinfectant. The air disinfectant segment has been subdivided into in-duct air disinfection, recirculation units, and upper room systems. The surface disinfectant segment has been sub-segmented into area disinfection, equipment & packaging disinfection, and lower room disinfection. The ultraviolet germicidal irradiation market report studies the current as well as the future market potential for ultraviolet germicidal irradiation devices across the globe with an in-depth country level analysis. Opportunities such as rising awareness and demand for advanced food packaging techniques is mainly driven by generation of need to minimize food loss. Hence, UVGI devices are finding use in food and beverage industries. However, current available UVGI systems used for water sterilization are not efficient in case of suspended particles as microorganisms buried within particles are shielded from the UV light and pass through the unit unaffected.

Upper room systems is the fastest growing sub-segment of the air disinfectant segment. Growth of the sub-segment during the forecast period is attributed to applications in heating, ventilation and air conditioning (HVAC) systems and low power consumption compared to other systems. The air disinfection UVGI system segment is expected to witness significant growth in the near future especially due to developing economies and healthcare infrastructure of Asia Pacific i.e. India and China.

Browse Research Report: http://www.transparencymarketresearch.com/ultraviolet-germicidal-irradiation-market.html

The surface disinfectant category is likely to witness slow and consistent growth during the forecast period. It has a vast application area such as in pharmaceutical product disinfection, area disinfection, cooling coil and drain pan disinfection, and overhead UV systems for surgical suites. The key subtypes of surface disinfection UVGI systems are area/room disinfection, equipment disinfection, packaging disinfection, and overhead surgical site disinfection. The equipment & packaging disinfection segments are expected to expand at high CAGRs (%) during the forecast period. This is due to increasing demand for hygienic food products and growing food-processing industry.

The global ultraviolet germicidal irradiation market has been extensively analyzed, based on major factors such as types, technological advances, and availability across different geographies. The market size and forecast in terms of revenue (US$ Mn) for each of these device categories have been provided for the period 2013 to 2023. The report also provides the compound annual growth rate (CAGR) for the market for each segment for the forecast period from 2013 to 2023.

Browse Regional PR:  http://www.europlat.org/global-ultraviolet-germicidal-irradiation-market.htm

Market Players: 

Key players profiled in the ultraviolet germicidal irradiation (UVGI) market study include American Ultraviolet, Atlantic Ultraviolet Corporation, General Electric, Halma plc (Aquionics), Philips, and UltraViolet Devices, Inc.

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