The global landscape of Ultraviolet Germicidal Irradiation (UVGI), a key player in infection prevention technology, is set to see significant changes in the coming years, as outlined in a recent report by ResearchAndMarkets.com. Valued at US $454.4 Million in 2022, the UVGI market is expected to surge to a remarkable US $1.1 Billion, showing a Compound Annual Growth Rate (CAGR) of 11.3% throughout the period 2022-2030.
The year 2022 was marked by intense competition in the UVGI field, with several key players vying for higher market shares. The report classifies the competitive presence of various players in terms of degrees of strength, activity, niche or triviality. However, it was the health crisis induced by COVID-19 that accelerated the adoption of UVGI technology for indoor air quality, disinfection, and decontamination. In fact, UV-C irradiation proved to be particularly effective in hindering the replication of the COVID-19 virus, thus amplifying its widespread use.
The report breaks down the UVGI market into segments, predicting an 11.5% CAGR for Air Disinfectants and a reach to US $940.6 Million by the end of 2030. Surface Disinfectants, on the other hand, show promising growth with an estimated CAGR of 9.7% for the next eight years. An additional boon to the UVGI market comes in the form of decontamination and the potential for reuse of N95 masks and personal protective equipment (PPE), navigated by UVGI technology.
Despite the growing focus on infection prevention causing a healthy growth in the UVGI market, the presence of cost-effective alternatives serves as a limiting factor. The market in 2022 has been underscored by disruptions and transformations driven by the global pandemic and a rising need for germicidal solutions.
On the geographic front, the U.S. leads with an estimated UVGI market size of US $149.1 Million in 2022. China, the world’s second-largest economy, is expected to follow closely with a projected market size of US $127.3 Million by 2030, showcasing a CAGR of 13.8% from 2022 to 2030. Japan and Canada are other noteworthy markets forecasted to grow at a rate of 9.6% and 9.8% respectively over the same period. Within Europe, Germany is foreseen to experience a surge at approximately 10% CAGR.
Ultimately, the UVGI market trends are a key note of interest for infection prevention professionals. With a total of 44 key players featured, the report provides an in-depth view of the market factors and drivers shaping the future of UVGI technology.