According to a recently published analysis by Future Market Insights, the global Irradiation Apparatus market revenue is expected to be worth US$ 8.0 billion by the end of the forecast period, with a 3.5% CAGR. Growing government backing is expected to boost industry expansion in the coming years. In 2022, the industry is estimated to generate US$ 5.7 billion.
Increasing healthcare expenditure and growing awareness of healthcare procedures will drive the growth of the Irradiation Apparatus market in the future. The growing popularity of portable devices in various healthcare settings such as paediatric diagnosis, the dental sector, and the veterinary sector will drive the worldwide Irradiation Apparatus market forward. The adoption of cutting-edge technology in the healthcare sector has prompted medical and pharmaceutical businesses to boost their use of Irradiation Apparatuses. This is expected to drive market expansion throughout the forecast period.
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According to the research, the X-rays category is expected to provide lucrative prospects for the worldwide Irradiation Apparatus market. Various emerging countries are making big changes to their budgets, creating profitable prospects for industry participants.
Key Takeaways:
- The X-rays product segment is predicted to grow at a 3.5% CAGR by 2032.
- The hospital segment is expected to grow at a 3.4% annual pace during the projected period.
- From 2022 to 2032, the US market is expected to generate $2.8 billion and grow at a 3.3% CAGR.
- China’s market will acquire US$ 574.0 million, expanding at a 2.9% annual pace during the evaluation period.
“Increasing technological advancement in the healthcare sector has propelled manufacturers of the medical and pharmaceutical sectors to increase the use of Irradiation Apparatus is expected to fuel the demand of Irradiation Apparatus market over the forecast period,” remarks an analyst at FMI.
Competitive Landscape
Key players of the global Irradiation Apparatus market include Hitachi, Ltd, YXLON International, Koninklijke Philips N.V., KaVo Dental, and Allengers among others.
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Recent key developments among players include:
- In January 2021, Yxlon announced the new Cheetah and Cougar EVO microfocus X-ray families. The next step towards automation was displayed, and new alternatives for increasing efficiency in X-ray inspection of electronic components were offered. The YXLON Cheetah and Cougar EVO families are specifically employed in the SMT and Semicon sectors, whereas the Plus variants primarily assist laboratory applications in research and development.
- Royal Philips announced the launching of EchoNavigator 4.0 [1] in May 2022, the latest version of its innovative image-guided therapeutic system for the treatment of structural heart disease. Users of Philips’ EPIQ CVXi interventional cardiology ultrasound system now have more control over live fusion imaging on the company’s Image Guided Therapy System thanks to EchoNavigator 4.0.EchoNavigator 4.0 assists interventional teams in deciding, guiding, treating, and confirming complex structural heart disease therapy, such as heart valve repair or replacement, by integrating real-time transesophageal echocardiography (TEE), which places the ultrasound transducer close to the heart, and X-ray fluoroscopy.
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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
About Future Market Insights, Inc.
Future Market Insights, Inc. (ESOMAR certified, Stevie Award – recipient market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.
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