Overview and Scope
Medical irradiation refers to the targeted use of radiation in treating diseases, particularly cancer, where controlled doses are applied to damage or destroy specific cells while minimizing their impact on healthy tissues. It is employed in diagnostic settings to produce images of internal structures or functions, facilitating the identification and diagnosis of various medical conditions.
Sizing and Forecast
The medical irradiation market size has grown rapidly in recent years. It will grow from $1.44 billion in 2023 to $1.69 billion in 2024 at a compound annual growth rate (CAGR) of 16.8%. The growth in the historic period can be attributed to increasing prevalence of cancer, growing adoption of radiation therapy, rising geriatric population, increasing demand for non-invasive treatment options, and expansion of healthcare infrastructure.
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Segmentation & Regional Insights
The medical irradiation market covered in this report is segmented –
1) By Disease Type: Trisomy 21, Translocation Medical Irradiation, Mosaic Medical Irradiation
2) By Treatment: Diagnosis, Therapy
3) By Distribution Channel: Direct Tender, Retail Sales, Other Distribution Channels
4) By End User: Hospital, Clinics, Homecare Setting, Therapy Centers, Other End-Users
North America was the largest region in the medical irradiation market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the medical irradiation market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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Major Driver Impacting Market Growth
The high prevalence of cancer is expected to propel the growth of the medical irradiation market going forward. Cancer refers to the condition of uncontrolled cell growth, which impacts various organs and contributes to significant morbidity and mortality worldwide. Medical irradiation is a crucial tool in cancer treatment, utilizing targeted radiation to damage or destroy cancer cells while minimizing the impact on healthy tissues. For instance, in October 2023, according to the European Cancer Information System (ECIS), a Belgium-based online tool to provide up-to-date information on cancer incidence, mortality, and survival in the European Union (EU), around 2.74 million new cancer cases were diagnosed in 2022, an increase of 2.3% from 2020. Moreover, cancer-related fatalities increased by 2.4% in 2022 compared to 2020. Therefore, the high prevalence of cancer is driving the growth of the medical irradiation market.
Key Industry Players
Major companies operating in the medical irradiation market are Hitachi Ltd., Thermo Fisher Scientific Inc., Toshiba Corporation, Siemens Healthcare GmbH, Koninklijke Philips N.V., GE Healthcare Company , Mayo Clinic Health System, Canon Medical Systems R&D (Dalian) Co. Ltd., PerkinElmer Inc., Varian Medical Systems Inc., Elekta AB, Accuray Incorporated, Ion Beam Applications S.A., Brainlab AG, ViewRay Technologies Inc., Mevion Medical Systems Inc., RaySearch Laboratories AB, NTP Radioisotopes SOC Ltd., RefleXion Medical Inc., Vision RT Ltd. , Sun Nuclear Corporation, IZI Medical Products LLC, Eckert & Ziegler BEBIG GmbH, C-RAD AB, Panacea Medical Technologies Pvt. Ltd., Standard Imaging Inc., CIVCO Radiotherapy Inc., IntraOp Medical Corporation, RTsafe Solutions Ltd., ASG Superconductors S.p.A., Mirada Medical Corporation
The medical irradiation market report table of contents includes:
1. Executive Summary
- Market Characteristics
- Market Trends And Strategies
- Impact Of COVID-19
- Market Size And Growth
- Segmentation
- Regional And Country Analysis
……….
- Competitive Landscape And Company Profiles
- Key Mergers And Acquisitions
- Future Outlook and Potential Analysis
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