Rise in adoption of technology advanced UV equipment fuel the growth of the global UV infection control market
The Global UV infection control devices market size was valued at $317 million in 2018, and is projected to reach $525 million by 2026, registering a CAGR of 6.5% from 2019 to 2026.
Drivers, restraints, and opportunities-
Rise in government focus on infection control programs, increase in the prevalence of hospital-acquired infections, and rise in adoption of technology advanced UV equipment fuel the growth of the global UV infection control market. On the other hand, high cost of UV infection control devices and stringent government regulation restrain the growth to some extent. However, high growth prospects in emerging markets is expected to create lucrative opportunities in the near future.
The report offers a detailed segmentation of the global UV infection control devices market on the basis of type, end user, and region. Based on type, the mobile segment held more than two-fifths of the total market share in 2018, and is expected to maintain its lead position throughout the forecast period. Moreover, this segment is expected to maintain its fastest CAGR of 7.3% from 2019 to 2026. The research also analyzes segments including stationary and others.
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Frontrunners in the industry-
- CVS Health Corporation
- Express Scripts Holding Company
- Giant Eagle Inc.
- Optum Rx Inc.
- Rowlands Pharmacy
- The Kroger Co.
- Walgreen Co.
- Walmart Stores Inc.
- Apollo Pharmacy.
Based on end user, the hospitals segment contributed to the highest share of the total market, accounting for nearly half of the global market in 2018, and is estimated to maintain its dominant position in terms of revenue by 2026. Moreover, this segment is estimated to register the fastest CAGR of 6.8% during the forecast period. The report also discusses segments including clinics and others.
The end user segment to dominate during the estimated period-
Based on end user, the hospital segment held the major share in 2018, generating nearly half of the global UV infection control market. The segment is anticipated to maintain its dominance throughout the forecast period. Moreover, the same segment would showcase the fastest CAGR of 6.8% during the study period. This is attributed to the fact that hospitals receive different types of patients that require surgeries, which leads to increase the adoption of UV infection control devices and therefore drives the growth of the segment.
North America to retain its dominance in terms of revenue-
Based on geography, North America accounted for more than two-fifths of the global UV infection control market revenue in 2026, and is projected to maintain the lion’s share from 2019 to 2026. The region is anticipated to maintain its dominance throughout the forecast period. This is attributed to the rise in the number of cases of HAIs and presence of key players lead to easy availability of these devices in this region. On the other hand, the region across Asia-Pacific is expected to manifest the fastest CAGR of 8.1% from 2020 to 2027. This is due to the improvements in health standards, surge in disposable incomes, and advancements in technology for the development of new UV infection control devices in this region.