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Irradiation Apparatus Market Analysis, Size, Major Driver, Top Trends, Key Segments And Forecast 2033
Irradiation Apparatus Market
The Business Research Company presents an extensive market research report on the Irradiation Apparatus Global Market Report 2024, furnishing businesses with a competitive edge through a detailed examination of the market structure, encompassing estimates for various segments and sub-segments.
Furthermore, the report highlights on emerging trends, significant drivers, challenges, and opportunities, providing all necessary data for thriving in the industry. This report market research offers a comprehensive perspective, including an in-depth analysis of the present and future scenarios within the industry.
Market Sizing:
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, public health concerns, 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 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.
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Key Market Players:
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.
Market Drivers:
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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https://www.thebusinessresearchcompany.com/report/irradiation-apparatus-global-market-report
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
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