SAN FRANCISCO, Jan. 20, 2021 /PRNewswire/ -- The global UV sanitizer travel wand market size is anticipated to reach USD 209.9 million by 2027, according to a new report by Grand View Research, Inc., expanding at a CAGR of 12.6% from 2020 to 2027. The increasing rate of infectious diseases in hospitals, low power consumption, and ease of portability for cleaning small objects in the home and commercial spaces are major factors driving the product demand. Increasing usage of the product in order to prevent cross-contamination and reduce pathogens, bacteria, and germs on objects is acting as a major driver for the market.
Key suggestions from the report:
- The residential application segment dominated the market with a share of 63.1% in 2019
- The online distribution channel is expected to expand at the fastest CAGR of 13.6% from 2020 to 2027
- Asia Pacific is expected to witness the fastest growth over the forecast period with a revenue-based CAGR of 13.9% from 2020 to 2027
Read 80 page research report with ToC on "UV Sanitizer Travel Wand Market Size, Share & Trends Analysis Report By Application (Residential, Commercial), By Distribution Channel (Online, Offline), By Region, And Segment Forecasts, 2020 - 2027" at: https://www.grandviewresearch.com/industry-analysis/uv-sanitizer-travel-wand-market
Companies in the market are focusing on gaining market share by increasing expenditure on advertising via social media and introducing new products in the market. For instance, in June 2020, Spark Innovation LLC launched a new UV travel wand with a light wavelength of 240-280nm and is certified by FCC, CE, and RoSH. Additionally, to save power and improve safety, the travel wand has a smart auto timing off in 180 seconds and an extra thoughtful Child lock to avoid kids' misuse. This factor is acting as a major driver for the market.
The recent outbreak of coronavirus disease (Covid-19) is estimated to increase the adoption of UV sanitizer travel wand among consumers. In terms of application, the residential segment held the largest share in 2019 and is estimated to be the fastest-growing segment from 2020 to 2027. Rising awareness among consumers pertaining to a number of infectious bacteria present on the daily used objects is acting as a major driver for increasing the adoption of UV sanitizer travel wand. The commercial segment is estimated to witness growth in the coming years owing to rising demand from the healthcare sector. As per Shenzhen UVLED Optical Technology Co. Ltd., from January to February 2020, the company's brand 59S has sold over 8000 units per day and 1000+ hospitals were using the company's brand 59S UV travel wand owing to the recent outbreak of Covid-19 in China.
The offline distribution channel dominated the market with a revenue-based share of 69.3% in 2019. Brick and mortar is the most preferred distribution channel due to their provision of detailed instructions about usability by the product specialists. Many consumers in the market prefer purchasing from the stores to find the right fit as per their convenience and get the right product as per their needs.
North America dominated the market with a revenue-based share of 40.5% in 2019. Demand in the region is high as consumers in the region are more aware and willing to spend on innovative and value-added products. Mature and higher expenditure power of the healthcare sector in this region is resulting in increasing adoption of products to reduce the number of hospital infectious diseases.
Grand View Research has segmented the global UV sanitizer travel wand market based on application, distribution channel, and region:
- UV Sanitizer Travel Wand Application Outlook (Revenue, USD Million, 2016 - 2027)
- UV Sanitizer Travel Wand Distribution Channel Outlook (Revenue, USD Million, 2016 - 2027)
- UV Sanitizer Travel Wand Regional Outlook (Revenue, USD Million, 2016 - 2027)
- North America
- Asia Pacific
- Rest of the World
List of Key Players of UV Sanitizer Travel Wand Market
- Shenzhen VH Technology Co., Ltd.
- Shenzhen UVLED Optical Technology Co. Ltd.
- Verilux Inc.
- UV Sanitizer Direct
- The UVlizer
- Life Safety Services
- ANPEI smart medical device technology (ShenZhen) Co., Ltd.
Find more research reports on Electronic & Electrical Industry, by Grand View Research:
- Electronic Weighing Machines Market – Global electronic weighing machines market size was valued at USD 3.7 billion in 2019 and is expected to grow at a compound annual growth rate (CAGR) of 3.1% from 2020 to 2027.
- Smart Home Appliances Market – Global smart home appliances market size was valued at USD 32.30 billion in 2019 and is expected to grow at a compound annual growth rate (CAGR) of 14.1% from 2020 to 2027.
- Smartphone Sanitizer Market – Global smartphone sanitizer market size was valued at USD 105.1 million in 2019 and is expected to grow at a compound annual growth rate (CAGR) of 11.8% from 2020 to 2027.
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Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.
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