Report : Europe Blood Irradiation Market Forecast to 2028 – COVID-19 Impact and Regional Analysis – by Type (Intravenous Laser Blood Irradiation, Transcutaneous Laser Blood Irradiation, and Extracorporeal Blood Irradiation), Indication (Acute Leukemia, Lymphoma, Solid Tumors, Pelvic Tumors, and Others), and End User (Hospitals, Blood Banks, Diagnostics Clinics, and Research Institutes)
At 6.9% CAGR, the Europe Blood Irradiation Market is speculated to be worth US$ 40.24 million by 2028, says Business Market Insights
According to Business Market Insights’ research, the Europe blood irradiation market was valued at US$ 26.90 million in 2022 and is expected to reach US$ 40.24 million by 2028, registering an annual growth rate of 6.9% from 2022 to 2028. Increase in communicable and noncommunicable diseases and rise in healthcare expenditure and government initiatives are the critical factors attributed to the market expansion.
There has been a constant increase in communicable and noncommunicable diseases regionally, including cancer, cardiovascular disorders, chronic renal disease, and stroke, owing to a large population susceptible to such conditions. Additionally, an increase in blood transfusion owing to an increase in surgical procedures, accidents, trauma cases, and disorders, along with the rising prevalence of bloodstream infections, support the market growth. Bloodstream infections, underlying conditions, and invasive procedures are common among the geriatric population. Bloodstream infections are the major cause of illness and death among large populations. Moreover, rising awareness about bloodstream infections and an increase in immune responses to transfused blood can cause complications. Furthermore, the increasing use of irradiated blood for the treatment of cancer patients strengthens the immune system and improves overall health, which is driving the growth of the blood irradiation market. Thus, the increasing prevalence of communicable and noncommunicable disorders, blood transfusion, surge in bloodstream infections, and increase in immune responses are driving the growth of the blood irradiation market.
On the contrary, stringent regulatory policies, high cost, and challenges with blood component irradiation hampers market Europe blood irradiation market.
- Based on type, the market is segmented into intravenous laser blood irradiation, transcutaneous laser blood irradiation, and extracorporeal blood irradiation. The intravenous laser blood irradiation segment held 45.40% market share in 2022, amassing US$ 12.21 million. It is projected to garner US$ 17.95 million by 2028 to expand at 6.6% CAGR during 2022–2028.
- Based on indication, the market is segmented into acute leukemia, lymphoma, solid tumors, pelvic tumors and others. The acute leukemia segment held 41.81% market share in 2022, amassing US$ 11.25 million. It is projected to garner US$ 16.67 million by 2028 to expand at 6.8% CAGR during 2022–2028.
- Based on end user, the market is segmented into hospitals, blood banks, diagnostics clinics, and research institutes. The Hospitals segment held 43.52% market share in 2022, amassing US$ 11.71 million. It is projected to garner US$ 17.02 million by 2028 to expand at 6.4% CAGR during 2022–2028.
- Based on country, the Europe blood irradiation market has been categorized into U.K., Germany, France, Italy, Spain and Rest of Europe. Our regional analysis states that Germany captured 29.45% market share in 2022. It was assessed at US$ 7.92 million in 2022 and is likely to hit US$ 11.59 million by 2028, exhibiting a CAGR of 6.5% during the forecast period.
Key players dominating the Europe blood irradiation market are Hitachi, Ltd.; Best Theratronics Ltd.; Gilardoni S.p.A.; Gamma-Service Medical GmbH; Typenex Medical and Actemium.
- In June ,2019; Gilardoni increases its presence at major international congresses in the blood transfusion sector with the Radgil2 medical x-ray irradiator.
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