PUBLISHER: The Business Research Company | PRODUCT CODE: 1458680
PUBLISHER: The Business Research Company | PRODUCT CODE: 1458680
Irradiation apparatus refers to equipment and devices used in irradiation processes, exposing objects or materials to high-energy radiation. This treatment method is used for medical treatments, sterilization, food preservation, and various research and industrial applications.
The main types of irradiation apparatus include X-rays, high-speed neutrons, electrons, gamma rays, and alpha particles. X-rays are high-energy electromagnetic radiation produced by bombarding an element with high-energy particles such as photons, electrons, or ions. They are used in diagnostics, therapy, dentistry, chiropractic diagnostics, and industrial and research settings. Applications span across hospitals, industries, laboratories, and others.
The irradiation apparatus market research report is one of a series of new reports from The Business Research Company that provides irradiation apparatus market statistics, including irradiation apparatus industry global market size, regional shares, competitors with a irradiation apparatus market share, detailed irradiation apparatus market segments, market trends and opportunities, and any further data you may need to thrive in the irradiation apparatus industry. This irradiation apparatus market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The irradiation apparatus market size has grown steadily in recent years. It will grow from $5.68 billion in 2023 to $6.01 billion in 2024 at a compound annual growth rate (CAGR) of 5.9%. The growth in the historic period can be attributed to public health concerns, globalization, public perception and acceptance, and research and development initiatives.
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 projected for the forecast period can be attributed to increased investments in healthcare, the rising incidence of cancer, the expansion of food irradiation practices, global health threats, and government initiatives and regulations. Major trends expected during this period include personalized radiation therapy, the integration of artificial intelligence (AI) in radiation oncology, advancements in imaging technologies for better treatment planning, the development of next-generation radiosensitizers to enhance treatment outcomes, and the adoption of hybrid technologies for more precise and effective irradiation.
The increasing expenditure on healthcare is expected to drive the growth of the irradiation apparatus market. Healthcare expenditure encompasses spending on various health-related goods and services, including medical treatment, medications, hospital care, preventive measures, and infrastructure development. This expenditure is particularly significant for the irradiation apparatus market due to the resource-intensive nature of radiation treatment. Establishing and maintaining radiation therapy facilities requires substantial capital and technology investment. For example, in the UK, healthcare spending increased by 9.4% in nominal terms and 9.7% in real terms between 2020 and 2021, with preventive care spending more than doubling from 2020 to 2021. This trend indicates a growing demand for healthcare services, including those that rely on irradiation apparatus.
Major companies in the irradiation apparatus market are innovating with products such as advanced Radixact Systems to stay competitive. The Radixact System is a TomoTherapy platform that provides precise and personalized radiation therapy for cancer treatment. For example, Manipal Hospitals in India launched the first-of-its-kind advanced Radixact System with synchronized automatic, real-time motion synchronization technology for precise cancer treatment. The Synchrony technology tracks tumors in real time, adjusting the radiation beam automatically to account for natural patient breathing movements. With features such as a refined x-ray beamline, a high-speed multi-leaf collimator, and advanced imaging capabilities, the Radixact System offers highly advanced and precise cancer treatment.
In June 2021, STERIS plc, an Ireland-based medical equipment company, acquired Cantel Medical for an undisclosed amount. This acquisition is expected to complement and extend STERIS's product and service offerings, global reach, and customers. Cantel Medical Corporation is a US-based medical device company engaged in the manufacturing of irradiation apparatus and tubes.
Major companies operating in the irradiation apparatus market report are Hitachi Ltd., Siemens Healthcare Private Ltd., Fujifilm Holdings Corporation, GE Healthcare, Philips Healthcare, Ametek Inc., Shimadzu Corporation, Varian Medical Systems Inc., Agfa-Gevaert, Carestream Health Inc., Orion Corporation, Toshiba America Medical Systems Inc., Steris PLC, BioWave Corporation, Comet Yxlon GmbH, KaVo Dental, PROTEC GmbH & Co. KG, Canon Medical Systems Corporation, Ziehm Imaging Inc., Mitsubishi Electric Corporation, Techno-Aide, Allengers infotech, Narang Medical Limited, Xoran Technologies Inc., EIZO Inc., Control-X Medical Ltd.
North America was the largest region in the irradiation apparatus market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the irradiation apparatus market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The countries covered in the irradiation apparatus market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The irradiation apparatus market consists of sales of electron accelerators, gamma ray generators, laser beams, and x-ray machines. Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
Irradiation Apparatus Global Market Report 2024 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on irradiation apparatus market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for irradiation apparatus? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The irradiation apparatus market global report from the Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
The impact of sanctions, supply chain disruptions, and altered demand for goods and services due to the Russian Ukraine war, impacting various macro-economic factors and parameters in the Eastern European region and its subsequent effect on global markets.
The impact of higher inflation in many countries and the resulting spike in interest rates.
The continued but declining impact of covid 19 on supply chains and consumption patterns.