The blood irradiation market in Europe is expected to grow from US$ 26.90 million in 2022 to US$ 40.24 million by 2028. It is estimated to grow at a CAGR of 6.9% from 2022 to 2028.
Rise in Healthcare Expenditure and Government Initiatives Bolsters Europe Blood Irradiation Market
The therapeutic landscape of communicable and noncommunicable diseases is evolving with time and technology, increasing healthcare expenditure, and surging awareness in a large population. X-ray and gamma irradiators are widely used for blood irradiation to ensure patient safety and prevent further complications. Blood irradiation helps manage hematological malignancies and prevents transfusion-associated graft-versus-host (TGVH) disease. The FDA has approved the use of blood irradiators, along with implementing tighter security measures to reduce the risk of unauthorized use of radioactive materials. The Serious Hazards of Blood Transfusion (SHOT) scheme of the UK government supports patient safety by analyzing anonymized information gathered on adverse events and reactions reported by from healthcare organizations involved in the blood and blood components transfusion after the transfusion procedures. Moreover, European Blood Alliance (EBA), Voluntary Blood Donation in Rhodope, and various other government and nongovernment organizations/projects from European countries are creating awareness among people regarding blood donation to fulfill the increasing demand for blood. Thus, such government and nongovernment initiatives for encouraging blood donation are driving the growth of the blood irradiation market.
Market Overview
Europe is the second-largest market for blood irradiation, and the market growth in this region is attributed to factors such as the rising prevalence of cancer, cardiac stroke, diabetes, and various other noncommunicable chronic diseases. In addition, growing funding for research & development activities is likely to provide opportunities for the market players in the coming years. Moreover, the pharmaceutical industry in Germany holds the fourth largest position with small and mid-sized companies. The country is likely to remain one of the most attractive destinations for the Europe healthcare industry over the coming years in terms of treatment. The industry's growth is driven by various factors such as increasing investment for research and development, and advanced healthcare facilities like hospitals, blood banks, and clinics. The blood irradiation market in Germany is primarily driven by countries aging population, socio-political environment and high per capita healthcare expenditure.
Europe Blood Irradiation Market Segmentation
The Europe blood irradiation market is segmented into type , indication, end user, and country.
Hitachi, Ltd.; Best Theratronics Ltd.; Gilardoni S.p.A.; Gamma-Service Medical GmbH; Typenex Medical; and Actemium are the leading companies operating in the blood irradiation market in the region.
| Report Attribute | Details |
|---|---|
| Market size in 2022 | US$ 26.90 Million |
| Market Size by 2028 | US$ 40.24 Million |
| CAGR (2022 - 2028) | 6.9% |
| Historical Data | 2020-2021 |
| Forecast period | 2023-2028 |
| Segments Covered |
By Type
|
| Regions and Countries Covered |
Europe
|
| Market leaders and key company profiles |
|
The Europe Blood Irradiation Market is valued at US$ 26.90 Million in 2022, it is projected to reach US$ 40.24 Million by 2028.
As per our report Europe Blood Irradiation Market, the market size is valued at US$ 26.90 Million in 2022, projecting it to reach US$ 40.24 Million by 2028. This translates to a CAGR of approximately 6.9% during the forecast period.
The Europe Blood Irradiation Market report typically cover these key segments-
The historic period, base year, and forecast period can vary slightly depending on the specific market research report. However, for the Europe Blood Irradiation Market report:
The Europe Blood Irradiation Market is populated by several key players, each contributing to its growth and innovation. Some of the major players include:
The Europe Blood Irradiation Market report is valuable for diverse stakeholders, including:
Essentially, anyone involved in or considering involvement in the Europe Blood Irradiation Market value chain can benefit from the information contained in a comprehensive market report.
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