Healthcare Investments Drive Growth in Irradiation Apparatus Market, Set to Expand by 4.7% CAGR by 2028

The Business Research Company has recently revised its global market reports, now incorporating the most current data for 2024 along with projections extending up to 2033.

Irradiation Apparatus Global Market Report 2024 by The Business Research Company offers comprehensive market insights, empowering businesses with a competitive edge. It includes detailed estimates for numerous segments and sub-segments, providing valuable strategic guidance.

The Market Size Is Expected To Reach $7.23 billion In 2028 At A CAGR Of 4.7%:

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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Irradiation Apparatus Market Major Segments
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

Key Driver - Healthcare Expenditure Surge Fuels Growth In The Irradiation Apparatus Market

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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Prominent Trend - Innovation In Irradiation Apparatus Market With Advanced Radixact Systems For Personalized Cancer Treatment

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.

Irradiation Apparatus 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.

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Largest And Fastest Growing Region In The Market
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 Table Of Content For The Market Report Include:
1. Executive Summary
2. Irradiation Apparatus Market Report Structure
3. Irradiation Apparatus Market Trends And Strategies
4. Irradiation Apparatus Market - Macro Economic Scenario
5. Irradiation Apparatus Market Size And Growth
…..
27. Irradiation Apparatus Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix

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