Rising Number of Hospital-Acquired Infections (HAIs) is Driving the Ultraviolet Germicidal Irradiation Market
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Prevention of Diseases Augments UVGI Market
The noteworthy technological advancements in the UVGI systems have made them a popular choice for sterilization process in restaurants, air-conditioned offices, food joints, hospitals, and several manufacturing units. Consumers are opting for installing hi-tech UVGI systems in order to prevent the occurrence of dangerous airborne diseases, reducing the maintenance cost of HVAC, and mitigating the chances of microbial contamination through air vents.
The rising number of hospital-acquired infections (HAIs) is also driving the global UVI market. According to statistics published by the World Health Organization (WHO) in 2013, about seven patients out every 100 admitted in hospitals acquire HAIs. The global UVGI market will growth at an unprecedented rate against the backdrop of these factors.
Import-related Hurdles to Restrain Market
The biggest challenge faced by this market are the hurdles in developing countries to import UVGI systems. Furthermore, these countries also have a dearth of skilled labor that has the technical knowledge of installing and maintaining these systems. Therefore, the majority of the developing countries have to depend on outsourcing help, which increases the installation costs.
All of these factors are hampering the growth of the UVGI market in emerging economies. Global players are also suffering as several developing countries are formulating new policies to support local manufacturers. This shift in preference is setting a trend in countries of Latin America and Asia Pacific.
A TMR analyst states, “The global UVGI market does have a lineup of some lucrative opportunities such as the burgeoning demand from water purification and advanced packaging sector that are looking at ways to avert air and borne diseases.” The unfortunate reduction in sources of fresh water sources, water pollution, and air pollution have collectively created a demand for UVGI in the food and beverages packaging sectors.
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According to TMR’s report, the opportunity in the global ultraviolet germicidal irradiation market was valued at US$168.4 mn in 2014. By the end of 2023, its valuation is anticipated to reach US$430.3 mn, rising at a CAGR of 10.9%between 2015 and 2023. The air disinfectant UVGI systems are expected to make a significant contribution to the growth of this market as its valuation will likely rise to US$375.2 mn by 2023.
The analysis of the market drivers and restraints in the global UVGI market is based on the findings of a report published by Transparency Market Research. The report is titled “Ultraviolet Germicidal Irradiation Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2015 – 2023.”
Transparency Market Research (TMR) is a global market intelligence company providing business information reports and services. The company’s exclusive blend of quantitative forecasting and trend analysis provides forward-looking insight for thousands of decision makers. TMR’s experienced team of analysts, researchers, and consultants use proprietary data sources and various tools and techniques to gather and analyze information. Our business offerings represent the latest and the most reliable information indispensable for businesses to sustain a competitive edge.
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