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The global Diabetic Foot Ulcers And Pressure Ulcers Market depicts the presence of few market players, says Transparency Market Research on the basis of a recently published report. In spite of this consolidated scenario, a decent number of small- and large-scale enterprises are firmly establishing themselves in the market, thus giving rise to a healthy competitive spirit to exist in the vendor landscape. The competition is expected to remain high and is prognosticated to intensify in the next few years, according to market experts. Thus, new companies might find it difficult to establish themselves in the market owing to a widespread presence of old businesses.

The global diabetic foot ulcers and pressure ulcers market is projected to exhibit a positive CAGR of 6.6% CAGR between 2016 and 2024. Thanks to this, the market’s valuation will reach US$4.9 bn by the end of 2024, a significant growth achieved from an earlier revenue worth US$2.8 bn clocked in 2015.

M Healthcare, Smith & Nephew Plc., Molnlycke Health Care AB, Medtronic Plc, ConvaTec, Inc., B. Braun Melsungen AG, Organogenesis, Inc., Acelity L.P. Inc., Medline Industries, Inc., Coloplast A/S, and BSN Medical GMBH, are a few players operating in the global diabetic foot and pressure ulcers market. Improving treatment procedures, regulating costs, and carrying out extensive research and development are three main strategies implemented by most players working in the global diabetic foot ulcers and pressure ulcers market.

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Rise in Chronic Ailments Causes Rise in Demand for Ulcer Treatment

The global foot ulcers and pressure ulcers is primarily being driven by a rampant rise in chronic diabetes affecting thousands of people on a yearly basis. This is mainly due to the fact that people affected with diabetes are prone towards bruises and ulcers caused on feet and even other parts. Additional chronic ailments such as prolonged hospital stays, neuropathic diseases, and reduced mobility also has been responsible for driving the global diabetic foot ulcers and pressure ulcers market. Rapidly increasing geriatric population is another cause for the market to attract a substantial pace as old-aged people are highly prone towards developing pressure-based ulcers and bruises. With a rising awareness among the masses to treat these maladies, a higher demand for relevant medications is being felt, consequently propelling extensive growth in the global foot ulcers and pressure ulcers market.

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Costly Treatment Procedures Restrain Growth

However, high costs of opting for ulcer treatments is notably hampering the diabetic ulcers and pressure ulcers market. Many underdeveloped and remote regions depict a lack of healthcare experts, consequently restraining the market’s growth. Nevertheless, improved biologics are expected to offset restraints affecting the global foot ulcers and pressure ulcers market’s growth, thus strengthening the ability of the market to garner a handsome revenue.

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About Us

Transparency Market Research (TMR) is a market intelligence company, providing global business information reports and services. Our exclusive blend of quantitative forecasting and trends 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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With little or no product differentiation, players in the global Pharmacy Repackaging Systems Market are facing tough competition. Despite tough grounds, the players such as Omnicell Inc., and Swisslog Holding AG are leading with a share of about 34% in the global market in 2015. Companies are expected to focus on expanding to different regions by meeting the specific needs of patients and health care institutes.

According to the research report, the global pharmacy repackaging systems market is expected to be worth US$1.8 bn by the end of 2024 from US$997.1 mn in 2015. Between the forecast years of 2016 and 2024, the global market is estimated to progress at a CAGR of 7.8%.

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Growing Pressure to Ensure Patient Safety Boosts Global Pharmacy Repackaging Systems Market

The rising incidence of erroneous deaths due to improper medications is expected to drive the growth of the global pharmacy repackaging systems market. The market is also benefiting from the stringent regulations governing various hospitals and health care institutes and pharmacies that demand reduction of such errors, costs, and fatalities due to poor management of dosages. Growing pressure on patient safety has augmented the demand for advanced technologies that have been designed and developed to avoid medication errors. The growing awareness pertaining to the efficient management of inventory with automated technologies is also expected to give the global market a shot in the arm in the coming years.

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Demand for Efficient Packaging Makes North America Frontrunner in Global Market

In terms of geography, the global market is segmented into North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa. Of these regions, the North America pharmacy repackaging systems market is expected to lead the global market in the coming years. This dominance is a result of soaring demand for pharmacy repackaging systems from hospitals and pharmacies. By the end of 2024, the North America market will account for a share of 35.5% in the overall market.

The end users in the global pharmacy repackaging systems market are retail/community pharmacy, hospital pharmacy, long-term care (LTC) pharmacies, and mail order pharmacies. Analysts anticipate that the blister card/compliance packaging systems segment is projected to lead the global market in the coming years. This segment is anticipated to acquire a share of 40.8% by the end of 2024 as this technique allows pharmacies to pack medications to suit customer’s requirements, which, in turn, reduces wastage of medicine dosage.

Lack of Awareness about Benefits of Automated Systems to Dissuade Users

However, the high cost of implementation of pharmacy repackaging system is expected to be a key factor responsible for restraining the growth of the global market between 2016 and 2024. Furthermore, lack of awareness about the potential benefits these automated systems can offer in several regional markets has also been an important inhibitor in the global market. This restraining factor has been predominant in developing countries of the world, where health care institutes are cost-sensitive and lack knowledge about one-time investments that can be reap benefits for a long time.

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Transparency Market Research (TMR) is a market intelligence company, providing global business information reports and services. Our exclusive blend of quantitative forecasting and trends 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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The global Biodegradable Stents Market features a fairly consolidated landscape with few prominent, multinational companies accounting for a behemoth share in the market. The three leading players—Biotronik, Boston Scientific Corporation, and Abbott Laboratories—account for a combined whopping share of 61.5% of the global market, finds Transparency Market Research (TMR). Relentless focus of these players to consolidate their presence by expanding to new geographic areas have largely enabled them maintain a stronghold in the market.

Over the coming years, a number of prominent players are expected to spend profusely in research and development activities with an aim to bring innovative technologies and advanced products to the market. This also tends to intensify the competition in the market, observes TMR. The introduction of innovations in stent technology will be focused on serving the current and emerging healthcare needs better.

Other top players include Terumo Europe NV., Sahajanand Medical Technologies, Elixir Medical Corporation, and Kyoto Medical Planning.

The global biodegradable stents market stood at US$18 million in 2015. Proliferating at a robust CAGR of 30.1% during 2016–2024, the global opportunities in the market is projected to reach a valuation of US$1.7 bn by 2024 end.

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The two primary types in the biodegradable stents market are peripheral artery stents and coronary artery stents. Of the two, the coronary artery stents holds the sway contributing the major share in 2015. The segment is expected to rise at a spectacular CAGR of 30.9% over the assessment period. The prominence can be attributed to the rapid rise in incidence of coronary artery disease (CAD) in various parts of the world.

The key regional markets comprise Europe, North America, Asia Pacific, the Middle East and Africa, and Latin America. Of these, Europe accounted for the mammoth share in 2015 and in the coming years, which is expected to be increasingly led by Germany. During the forecast period, the regional market is projected to clock a striking CAGR of 27.2%.

Enormous Demand for Treating Coronary Artery Diseases to Accentuate Market

Biodegradable stents considered as a recent innovation and significant improvement over drug-eluting ones in stent technology has been experiencing attractive strides. The demand for biodegradable stents is driven primarily by their potentially beneficial applications in treating coronary artery diseases.

The rising incidence of the disease and its marked mortality among worldwide populations is a noteworthy factor accentuating the market. The rising mortality of cardiovascular diseases in low- and middle- income countries and the growing prevalence of coronary heart diseases in elderly population world over are notable factors bolstering the demand for biodegradable stents as a potentially efficacious medical interventions. The wide preference for stenting procedures for treating coronary artery diseases is a key underpinning to the demand.

Biodegradable stents are garnering wide popularity in the area of interventional cardiology, as they are safe, reduce complications, and can deliver more drugs at the site. In addition, their potential to reduce in-stent restenosis and other complications accounts for its attractive demand.

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Lack of Affordability at Large Dampen Adoption among Patient Populations

However, compared to bare metal stents (BMS) and drug eluting stents (DES), biodegradable stents are expensive. Hence the affordability at large is a critical concern likely to cripple the growth of the market. The premium pricing of these stents may dampen their adoption among price sensitive consumers. Moreover, further research is required to address possible concerns of inflammation caused to patients and mechanical stability of the biodegradable materials used in these stents.

Nonetheless, the biodegradable stents market is expected to get a robust boost by rising awareness about the advantages of biodegradable stents in developing and less developed regions and unceasing focus of players to introduce innovative products. Furthermore, industry efforts to bring biodegradable stents into the realm of mass affordability bodes well for the market.

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Transparency Market Research (TMR) is a market intelligence company, providing global business information reports and services. Our exclusive blend of quantitative forecasting and trends 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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There are numerous well-entrenched large players providing core administration solutions for the healthcare industry. They provide software, hardware, and services. This makes the market not just fragmented but also highly competitive. The top notch players are seen eyeing the untapped markets in China, Brazil, and India which are relatively under tapped. To that end they are focusing on mergers and acquisitions of regional and local companies which would enable them to make easy inroads into their markets.

As per a report by Transparency Market Research, the worldwide Technology Spending On Core Administration In Healthcare Market will likely rise to US$42,317 mn by the end of 2024 from around US$25,900 mn in 2015 by registering a steady CAGR of 5.7%.

Among some of the prominent end users of core administration solutions in the healthcare industry, the segment of payers held a lion’s share of 88.0% in the market in 2015. Going forward too, it is predicted to drive substantial spending in core administration in the healthcare industry. From a geographical standpoint, North America led the market with half the share in 2015. In the near term as well North America will lead the market because of the increasing scarcity of resources for patient-centric processes and inadequate number of skilled workforce for managing administrative processes.

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Emphasis on Value-based Reimbursement Systems Drives Market

A prominent driver of technology spending on core administration in the healthcare market is the increasing thrust on value-based reimbursement systems. This is fuelling uptake of IT solutions in the domain of healthcare. Elaborates the lead analyst of our report, “Growing convergence of myriad digital platforms for managing and processing the burgeoning data on healthcare, continued changes in healthcare reimbursement rules and systems, and growing tribe of tech savvy patients are serving to make healthcare administration increasingly complicated. This has helped to up technology spending on core administration in healthcare market.”

With cost competition at its zenith in the healthcare industry, insurance agencies, also called payers, are egging healthcare providers to opt for a value-based reimbursement module from a volume-based one. Despite having cost benefits, value-based reimbursement modules are fraught with financial risks for those providing them. This necessitates proper management of core administrative processes to reduce costs. This, in turn, needs a solid IT infrastructure and also an integrated platform wherein the payers can streamline workflows for provider contracting and engagement. Over the course of the next couple of years, the pressing requirement for such platforms is expected to fillip technology spending on core administration in the healthcare sector.

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Outdated Technology and Applications Hamper Growth

Despite such a promising outlook, the spending on technology for core administration in the healthcare sector is predicted to be clipped by the usage of outdated technology and applications in various delivery and data collection nodes, continuously changing reforms in the healthcare domain, and changing methods of financial transactions. Besides, inadequately trained healthcare professionals unable to handle complicated and time-consuming features in sophisticated digital healthcare applications is also hampering such spending.

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Transparency Market Research (TMR) is a market intelligence company, providing global business information reports and services. Our exclusive blend of quantitative forecasting and trends 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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The worldwide offers of prefilled syringes added up to US$3.5 bn in 2015 and is anticipated to achieve US$7.9 bn, extending at a 9.3% CAGR over the time of 2016 to 2024. As far as prefilled syringes utilization, the market is relied upon to extend at a 9.0% CAGR amid the conjecture time frame. By application, the vaccines section ruled the worldwide prefilled syringes market, representing an aggregate offer of 34.3% out of 2015. The portion is additionally anticipated to display a solid development rate from 2016 to 2024. Regarding the percentage contribution share, the polymer-based prefilled syringes portion is relied upon to proceed with its lead in the worldwide market through 2024. It will likewise enroll the most elevated development in the coming years. By channel of distribution, the segments of hospitals has been anticipated to represent the real offer before the finish of the gauge time frame. Then again, walking surgical focuses are probably going to enlist a high development rate by 2024.

Becton Dickinson and Company Group plc., Terumo Medical Corporation, Baxter International Inc., and Medtronic are the main four players that overwhelm over a large portion of the prefilled syringes market. Transparency Market Research (TMR) has noticed that the worldwide Prefilled Syringes Market is exceptionally unique and focused and keeping in mind that the idea of the market is combined in created locales inferable from the nearness of substantial players, it stays divided in the majority of the developing markets with numerous little local players.

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North America commands the worldwide market, though Asia Pacific is relied upon to witness solid development. The U.S. is the biggest market for prefilled syringes, representing a share of around 35.5% in the global market.

The rate of needle stick wounds has been a reason for worry throughout the years. As indicated by the World Health Organization, just about two million social insurance experts experience the ill effects of irresistible ailments coming about because of needle stick wounds every year.

„Different needle wellbeing gadgets, for instance, detached needle guarding tops with a polymer shield and a retractable needle framework and in addition propelled innovations, for instance, propelled barrel innovation and multi-chamber syringes are being produced to adapt to this issue,“ the writer of the research report finds. Along these lines, enhancing wellbeing measures and innovative progressions have been principally driving the worldwide prefilled syringes market.

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There are a few factors that represent a serious test to the development of the worldwide prefilled syringes market, the essential one being the high expenses related with temperature controlled bundling required for temperature-touchy medications. „Keeping in mind the end goal to keep up determined temperatures and conditions all through the timeframe of realistic usability of a medication, tranquilize producing organizations require a few complex apparatuses that should be looked after frequently,“ the TMR investigator states. This is an expensive issue and accordingly, confines organizations from assembling prefilled syringes.

Different components repressing the market incorporate item reviews because of fractures and leachables, the possible danger of association amongst prefilled syringes and medicates, and the accessibility of elective medication conveyance strategies.

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Transparency Market Research (TMR) is a market intelligence company, providing global business information reports and services. Our exclusive blend of quantitative forecasting and trends 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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Despite the presence of a large number of regional players, the global Urolithiasis Management Devices Market is dominated by few large vendors having substantial budgets for research and development of new technologies and innovative products, observes TMR in a recent report. Companies such as Boston Scientific Corporation, C. R. Bard, Inc., and Cook Group command prominent positions in the global market owing to their strong geographic presence, excellent distribution networks, and the financial power to acquire niche device developers across the globe. The degree of competition is high in the maturing market, with frequent changes to the development dynamics owing to rapid advancements in supporting technologies.

Transparency Market Research estimates that the global urolithiasis management devices market will expand at a healthy 4.5% CAGR over the period between 2016 and 2024. The market’s worth is estimated to be US$1.26 bn in 2016 and is expected to rise to US$1.78 bn by 2024.

Asia Pacific to Emerge as Most Promising Regional Market

Of the key urolithiasis management device types available in the global market, the segment of shockwave lithotripters is presently the dominant revenue generator, with a valuation of US$789.2 mn in 2015, and is expected to account for a share of 65% in the global market by 2016. Of the key end users of urolithiasis management devices, the segment of clinics led the global market, holding a share of 55% of the market’s overall revenues in 2015. Geography-wise, North America led with 36% share in the global market in the same year. Over the period between 2016 and 2024, however, Asia Pacific is projected to emerge as the most promising regional market for urolithiasis management devices owing to the large geriatric population and a rising base of high-income patients.

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Technological Advancements to Stimulate Market Growth

The market for urolithiasis management devices is primarily driven owing to the rising prevalence of kidney stones among the global population. Factors such as obesity, changing lifestyles, and ageing are the chief causes triggering the formation of kidney stones among humans. Studies state that at least 30% of the world’s population is presently obese or overweight. Geriatrics (people with more than 60 years of age) account for more than 900 mn people of the world’s population presently. The United Nations’ Department of Economic and Social Affairs states that this number will increase by 56% between 2015 and 2030 and rise to 1.4 bn by 2030.

Along with these factors, the introduction of a variety of non-invasive treatment methods in the global urolithiasis management devices market has also encouraged the excellent growth of the market in the past few years. The significant reduction in treatment duration and effective results are compelling an increased number of patients to demand newer and technologically advanced treatment methods for kidney stones.

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High Risk of Damage to Urinary Tract Leads to Apprehension about Urolithiasis Management Devices

Certain urolithiasis procedures such as the lithotripsy involve shockwaves that are sent across the body to trigger kidney stones with high precision force. Such treatments may result in damage to soft tissues and could also potentially lead to a permanent loss of renal functions. This factor leads to increased concerns among patient about the potential side-effects of novel technologies and hampers the overall adoption of urolithiasis management devices to a notable extent. Another key challenge for the global urolithiasis management devices is the high cost of certain latest and novel technologies, which restrains market’s growth across developing economies to a large extent.

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Transparency Market Research (TMR) is a market intelligence company, providing global business information reports and services. Our exclusive blend of quantitative forecasting and trends 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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The global Steam Autoclaves Market is marked by intense competitive rivalry and high entry barriers for new vendors, typical of markets featuring high consolidation, reports a recent study by Transparency Market Research (TMR). The oligopolistic market witnesses the dominance of companies such as STERIS, Getinge Group, and Johnson & Johnson, which collectively held close to two-third of the overall market in 2015.

The presence of a very small number of product manufacturers, preference of buyers for long-term contracts with steam autoclave devices manufacturers, and broad product portfolios have further reinforced the standing of leading vendors in the market. Product innovations, production of economic products, and strategies aimed at expansion in emerging regional markets could aid small vendors in the market carve out new growth channels in the near future.

Other notable vendors operating amid intense competition in the global steam autoclave market are 3M Health Care, Belimed Group, CISA Group, Matachana Group, CISA Group, and SAKURA SI CO., LTD.

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Rising Number of Surgeries and Hospital-acquired Infections Stimulate Adoption of Steam Autoclaves in Healthcare Settings

The vast increase in the number of surgical procedures undertaken across the globe every year has played a major role in the increased consumption of steam autoclaves globally in the past few years. The Centers for Disease Control and Prevention states that in U.S. alone, nearly 46.5 mn surgeries and around 5 mn endoscopies are performed every year. In other regions as well, such as the developing parts of Asia Pacific, which are marked by large population bases and flourishing medical tourism industries, a massive rise in the number of surgical procedures has been seen in the past few years.

Compounding the need for effective sterilization mechanisms in healthcare settings in addition to abovementioned factor is the concern regarding rising prevalence of nosocomial infections across the globe. These factors, in addition to the rising focus on patient safety, will allow the global steam autoclave market gain traction in the next few years.

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Technological Advancements to Fuel Market’s Growth

The market has witnessed the introduction of several technologically advanced and increasingly effective products such as E-beam and gamma irradiation, which are further boosting the market’s growth prospects. High product compatibility and low cost of these new products are expected to help the global steam autoclave market gain significant momentum over the forecasting horizon.

However, the increased usage of disposable devices across healthcare settings, which are not meant to be reused and require little or no sanitization over their usable life, could emerge as a major restraint for the overall growth of the market. Moreover, the imposition of excise duty taxes on the manufacturers of medical devices is also expected to hamper the overall profitability of steam autoclaves for vendors, thus resulting in increased product prices. This factor could also have a negative impact on the market’s growth prospects, especially in cost-sensitive developing regions.

In terms of popularity of product varieties available in the market, including traditional steam autoclaves and tabletop steam autoclaves, the market is again highly consolidated. The segment of traditional autoclaves accounted for a share of over 91% in the market in 2015. The segment is also expected to expand at the highest CAGR of 5.8% over the period between 2016 and 2024. North America was the leading regional market in 2015, with nearly 40% share in the market in terms of revenue in 2015.

On a whole, the global autoclave market was worth US$1.57 bn in 2015. Expected to rise at a healthy 5.7% CAGR from 2016 to 2024, the market is projected to touch US$2.57 bn by 2024.

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Transparency Market Research (TMR) is a market intelligence company, providing global business information reports and services. Our exclusive blend of quantitative forecasting and trends 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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The International Intracranial Pressure Monitors Market is experiencing a shift to non-invasive ones from invasive devices, as demands of patients have changed, says Transparency Market Research (TMR) in its latest market research report. Manufacturers of intracranial pressure monitors within this industry are facing stiff competition and this is further compelling them to stay up dated offering their customers with the latest of all devices. Thus, much of the emphasis is given to technological advancements and research and development. Some of the leading market players in the intracranial pressure monitors market comprise names such as Codman & Shurtleff Inc., Integra LifeSciences Corp., and Medtronic Inc. These market players are aggressively integrating advanced technologies into their products and making efforts to introduce next-generation gadgets in the market. This report further adds that by entering into strategic partnerships with various local players, the market players are estimated to gain more shares in the market.

In accordance with the report by TMR, it has been estimated that the world market for intracranial pressure monitors would be worth around US$ 1.63 bn by the year 2023.

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Increasing Cranial injuries to Encourage Growth of the Market

The world market for intracranial pressure monitors is driven by the rising frequency of traumatic injuries due to frenzied and hectic lifestyle of the people across the globe. This has also led to the high occurrence of strokes, thereby bolstering the demand for intracranial pressure monitors. A soaring number of people who suffer from high blood pressure, which is responsible for augmenting the rate of strokes and propelling the requirement for intracranial pressure monitors. Cranial injuries are happening quite frequently and so are head traumas owing to various road accidents and industrial accidents. An analyst of the report has discovered the untapped markets in many of the developing nations so as to offer attractive growth opportunities in the years to come. While, on the other hand, the reports about cerebrospinal fluid infection, which could even result in fatal outcomes are expected to limit the application of intracranial pressure monitors, thereby posing a challenge for the growth of the market.

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North America Continue with its Dominance over the Period of Forecast

The international market for intracranial pressure monitors stretches across the geographies of North America, Asia Pacific, Europe, and the Rest of the World. The region of North America has emerged as the one of the largest contributors to the intracranial monitor consumption since the last few years. Though North America has been forecasted to remain the leading regional segment for the global market for intracranial pressure monitors over the period of forecast, however, the region of Asia Pacific is estimated to make an offering of a very profitable opportunities to market players, on account of the presence of a large number of untapped markets.

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Transparency Market Research (TMR) is a market intelligence company, providing global business information reports and services. Our exclusive blend of quantitative forecasting and trends 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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The global Ultraviolet Germicidal Irradiation Market demonstrates a vendor landscape which is consolidated and led by America Ultraviolet, GE Water and Process Technologies, and UltraViolet Devices Inc. According to Transparency Market Research (TMR), leading players within the market are concentrating hard on developing cost-effective yet competitive products which will be useful to tap on the unmet requirements of the overall ultraviolet germicidal irradiation market. In the years to come, it is anticipated that the prominent players within the market will successfully launch a wide range of products in order to cater to a wide range of consumers.

According to TMR, the global opportunity for ultraviolet germicidal is radiation market will be worth US$430.3 mn by 2023. By type, it is anticipated that disinfectants will witness a higher demand as compared to surface disinfectants. TMR predicts that the air disinfectant segment will be worth US$375.2 by 2023. The upper room systems sub-segments within the air disinfectant segment will be the dominating segment in the market on account of its wide application in heating, ventilation, and air conditioning (HVAC) systems. Additionally, upper room systems consume less power as compared to other systems which is anticipated to bolster its demand in the near future.

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Demand From Food And Beverage Packaging Sector To Boost Growth Of Market

One of the primary factors boosting the growth of the ultraviolet germicidal irradiation market is the staggering increase in the prevalence of hospital-acquired infections. The market is also benefiting from the rising awareness among patients across the globe regarding the need for hygienic surroundings. The advancement in food packaging techniques will also boost the growth of this market. In addition to this, stringent rules and regulations implemented by the government across the globe for maintaining a standard, purity, and control over the spread of various types of infections will aid the growth of ultraviolet germicidal irradiation market.

Rise In Prevalence of Hospital-Acquired Infections to Boost Demand for Ultraviolet Germicidal Irradiation In North America

On the basis of geography, it is anticipated that North America will continue to lead in the market for ultraviolet germicidal irradiation on account of the rising incidences of hospital-acquired infections. Moreover the stringent US FDA rules also promotes the curbing of hospital-acquired infections which in turn will benefit the ultraviolet germicidal irradiation market in North America. Europe is expected to follow North America in terms of leading in the market for ultraviolet germicidal irradiation.

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Rapidly Depleting Freshwater Sources To Create A Heightened Demand For Ultraviolet Germicidal Irradiation Solutions

Another important factor boosting the growth of this market, is the rapidly depleting freshwater sources and with it the rise in demand for clean water. This in turn is anticipated to create a huge demand for ultraviolet germicidal irradiation solutions. the demand for these solutions will also increase on account of the need for clean air. The food and beverage packaging industry will also be a key consumer for ultraviolet germicidal irradiation solutions in the next few years.

High Cost Of Deploying Ultraviolet Germicidal Irradiation Solutions To Be An Issue

One of the key factors restricting the growth of the global ultraviolet germicidal irradiation market is the high expenses which is incurred during the deployment of these solutions. A lack of skilled technicians will also be a problem. On the other hand, the advancements in packaging industry as well as rising awareness regarding hygiene will propel the growth of the ultraviolet germicidal irradiation market.

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