Assessing Growth Drivers: Irradiation Apparatus Market Over a Decade By 2022 to 2032
The global irradiation apparatus market has experienced significant growth, reaching US$ 5.4 Billion in 2021 and is poised for continued expansion. According to Future Market Insights latest market analysis, the market is projected to exhibit a Year-on-Year (Y-o-Y) increase of 5.5% in 2022, reaching a valuation of US$ 5.7 Billion.
The increasing backing from various governmental organizations has been a significant factor in propelling this market forward. With sustained support and investments, the market is expected to witness robust growth, reaching a projected value of US$ 8.0 Billion by 2032. The trade is anticipated to maintain a steady trajectory with a Compound Annual Growth Rate (CAGR) of 3.5% during the forecast period.
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“The rise in support from governmental bodies is driving significant advancements and opportunities within the irradiation apparatus market,” stated Future Market Insights Market Analyst. “This growth signifies an increased adoption of irradiation technologies across industries, including healthcare, food processing, and research, among others.”
The key drivers contributing to this growth include the demand for enhanced food safety, increased research and development activities, and the rising need for efficient healthcare solutions globally. Irradiation apparatus has been pivotal in ensuring product safety, extending shelf life, and preserving the nutritional value of various consumables, further fueling its demand across diverse sectors.
The food processing industry also heavily relies on irradiation apparatus to enhance food safety and extend the shelf life of perishable items. By irradiating food products, pathogens and spoilage-causing microorganisms are eliminated or rendered inactive, making food safer for consumption and reducing food waste. As consumers become more health-conscious and sustainability-focused, the irradiation apparatus market will continue to expand to meet these demands.
Furthermore, the materials science field benefits from irradiation apparatus for various applications, such as modifying the properties of polymers, composites, and semiconductor materials. Irradiation can enhance the mechanical, electrical, and thermal properties of materials, opening up new possibilities in industries like aerospace, electronics, and automotive.
Here Are Some Key Components And Applications Of The Irradiation Apparatus Market:
- Sterilization: One of the primary applications of irradiation apparatus is the sterilization of medical devices, pharmaceuticals, food, and other products. The high-energy radiation effectively kills or inactivates microorganisms like bacteria and viruses, making the products safe for use or consumption.
- Food Preservation: Irradiation is used to extend the shelf life of food products by reducing or eliminating pathogens, pests, and spoilage microorganisms. It can also prevent the sprouting of certain vegetables and inhibit the ripening of fruits.
- Material Modification: Irradiation is employed to modify the physical and chemical properties of materials, such as polymers and semiconductors. This can include cross-linking polymers, enhancing the characteristics of electronic components, and more.
- Cancer Treatment: In the field of medicine, irradiation apparatus plays a crucial role in radiation therapy for cancer treatment. High-energy radiation is directed at cancerous tumors to destroy or shrink them.
- Research and Development: Scientists and researchers also use irradiation apparatus for various experiments and studies, including radiation biology, materials science, and more.
The market for irradiation apparatus is influenced by factors such as advancements in technology, increasing demand for sterilized medical equipment and food products, and growing applications in research and development. Additionally, regulatory considerations and safety standards play a significant role in shaping the industry.
Who are the Key Players of the Global Irradiation Apparatus Market?
Eminent players of the Global Irradiation Apparatus Market:
- Hitachi, Ltd
- YXLON International
- Koninklijke Philips N.V.
- KaVo Dental
- Allengers
- Narang Medical Limited
- Canon Medical Systems Corporation
- General Electric Company
- Siemens Healthcare Private Limited
- Xoran Technologies Inc.
- EIZO Inc.
- Shimadzu Corporation
- Medtronic
Recent Key Developments Among Players Include:
- In January 2021- Yxlon presented the new release of the Cheetah and Cougar EVO microfocus X-ray families. The next step towards automation was demonstrated and new options were presented that significantly increase efficiency in the X-ray inspection of electronic components. The YXLON Cheetah and Cougar EVO families in their specific configurations are specially used in the SMT and Semicon sector when the Plus variants mainly support laboratory applications in research and development.
- In May 2022 – Royal Philips announced launch of EchoNavigator 4.0, the new release of its advanced image-guided therapy solution for the treatment of structural heart disease. EchoNavigator 4.0 gives users of Philips’ EPIQ CVXi interventional cardiology ultrasound system greater control of live fusion-imaging on the company’s Image Guided Therapy System. By integrating real-time transesophageal echocardiography (TEE), which places the ultrasound transducer close to the heart, and X-ray fluoroscopy, EchoNavigator 4.0 helps interventional teams to decide, guide, treat, and confirm complex structural heart disease therapy, such as heart valve repair or replacement.
- In January 2020 – Allengers Medical Systems Limited, announced the launch of ACUTOM 32 – A 32 slice CT scanner.
Key Segments Covered in the Irradiation Apparatus Industry Survey:
Irradiation Apparatus Market by Usage:
- Irradiation Apparatus for Diagnostic Purposes
- Irradiation Apparatus for Therapeutic Purposes
- Irradiation Apparatus for Dental Purposes
- Irradiation Apparatus for Chiropractic Diagnostic Purposes
- Irradiation Apparatus for Industrial & Research Applications
Irradiation Apparatus Market by Product:
- Gamma Ray Irradiation Apparatus
- X-ray Irradiation Apparatus
- High-Speed Neutrons Irradiation Apparatus
- Electrons Irradiation Apparatus
- Alpha-Beta Particles Irradiation Apparatus
Irradiation Apparatus Market by Application:
- Irradiation Apparatus for Hospitals
- Irradiation Apparatus for Industries
- Irradiation Apparatus for Laboratories
- Irradiation Apparatus for Other Applications
Irradiation Apparatus Market by Region:
- North America Irradiation Apparatus Market
- Latin America Irradiation Apparatus Market
- Europe Irradiation Apparatus Market
- APAC Irradiation Apparatus Market
- The Middle East & Africa Irradiation Apparatus Market
