The Irradiation Apparatus Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).
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According to The Business Research Company’s Irradiation Apparatus Global Market Report 2024, The irradiation apparatus market size is expected to see steady growth in the next few years. It will grow to $7.23 billion in 2028 at a compound annual growth rate (CAGR) of 4.7%. The growth in the forecast period can be attributed to increased healthcare investments, rising incidence of cancer, expansion of food irradiation, global health threats, government initiatives and regulations. Major trends in the forecast period include personalized radiation therapy, integration of artificial intelligence (AI), advancements in imaging technologies, development of next-generation radiosensitizers, adoption of hybrid technologies.
The rising expenditure on healthcare is expected to propel the growth of the irradiation apparatus market going forward. Expenditure on healthcare refers to the total amount of money spent on health-related goods and services within a specific period, encompassing costs related to medical treatment, medications, hospital care, preventive measures, and overall healthcare infrastructure development. The role of high healthcare spending on irradiation apparatus is significant because radiation treatment is resource-intensive, capital-intensive, and technology-intensive, particularly when it comes to the establishment and upkeep of radiation therapy facilities. For instance, in May 2023, according to a report published by the Office for National Statistics, a UK-based government department, between 2020 and 2021, healthcare spending in the UK increased by 9.4% in nominal terms and 9.7% in real terms. Furthermore, spending on preventive care was $45.72 billion in 2021, more than doubling from 2020. Therefore, the rising expenditure on healthcare is driving the growth of the irradiation apparatus market.
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The irradiation apparatus market covered in this report is segmented –
1) By Type: X-Rays, High Speed Neutrons, Electrons, Gamma Rays, Alphabeta Particles
2) By Usage: Diagnostic Purposes, Therapeutic Purposes, Dental Purposes, Chiropractic Diagnostic Purposes, Industrial And Research Applications
3) By Application: Hospital, Industry, Laboratory, Other Applications
Major companies operating in the irradiation apparatus market are developing innovative products with advanced technologies, such as advanced Radixact Systems, to gain a competitive edge in the market. The Radixact System is an irradiation apparatus and advanced TomoTherapy platform that delivers precise and personalized radiation therapy for cancer treatment. For instance, in September 2021, Manipal Hospitals, an India-based multi-specialty healthcare provider, launched the first-of-its-kind advanced radixact system with synchronized automatic, real-time motion synchronization technology for the precise treatment of cancer patients. The Synchrony technology on the Radixact X9 system can track the tumor in real time, which moves with the patient’s natural breathing and automatically adjusts the radiation beam. The unique design of the Radixact System features a refined x-ray beamline, a unique high-speed multi-leaf collimator, and advanced imaging capabilities previously unavailable on traditional linear accelerators, making it a highly advanced and precise irradiation apparatus for cancer treatment.
The irradiation apparatus market report table of contents includes:
1. Executive Summary
2. Irradiation Apparatus Market Characteristics
3. Irradiation Apparatus Market Trends And Strategies
4. Irradiation Apparatus Market – Macro Economic Scenario
5. Global Irradiation Apparatus Market Size and Growth
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26. South America Irradiation Apparatus Market
27. Brazil Irradiation Apparatus Market
28. Middle East Irradiation Apparatus Market
29. Africa Irradiation Apparatus Market
30. Irradiation Apparatus Market Competitive Landscape And Company Profiles
Top Major Players:
- Hitachi Ltd
- Siemens Healthcare Private Ltd
- Fujifilm Holdings Corporation
- GE Healthcare
- Philips Healthcare
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