As per our research report, between 2022 to 2027, the global blood irradiation market is expected to rise at a CAGR of 5.49%, reaching USD 81.31 million in 2027, up from USD 62.24 million in 2022.
SARS-CoV-2-caused coronavirus disease-2019 has wreaked havoc on healthcare systems around the world. The cytokine storm that accompanies a lung infection is causally linked to respiratory impairment and mortality in most patients. As a result, governments enacted lockdowns and limitations worldwide to fight the spread of Covid-19. This has had a significant impact on global value chains and dissemination and coordination skills. Furthermore, numerous end-client companies have lost a substantial amount of money due to their declining popularity. Vaccination will, in any case, help to contain and manage worldwide pandemics.
The emergence of several viral illnesses, spanning from HIV/AIDS through Ebola, SARS, MERS, and SARS-CoV-2, has resurrected this therapeutic promise. BI has a diverse virucidal effect, with the immune system being the primary target. Hematological cancers such as T-cell lymphomas can also be treated with extracorporeal photopheresis (ECP), a more sophisticated treatment. More BI research could lead to the creation of a practical device that could be used to attack novel viruses that are resistant to known antivirals or vaccinations and bacteria resistant to known antibiotics. As a result, the market has grown steadily throughout the pandemic.
The rising number of occurrences of blood transfusion complications and the increasing prevalence of lifestyle-related disorders are majorly propelling the global blood irradiation market growth.
Furthermore, developing new medical technologies, increased healthcare expenditure, and government initiatives are factors propelling the global blood irradiator market forward. As the global population becomes more vulnerable to various communicable and non-communicable diseases (NCDs) such as cancer, chronic kidney disease, high blood pressure illness, stroke, and cardiovascular disorders, the global blood irradiation market is expected to grow. Because of X-ray irradiators, the risk has been significantly reduced. This method performs UV blood irradiation (UVBI) with UV lamps. The transcutaneous technique, which includes putting a device on the outside of the skin, delivers the radiation through the skin. A gadget is inserted into a major blood vessel in the intravenous technique. The usage of X-ray irradiators has increased the safety and security of our blood supply and facilities. The use of an X-ray irradiator has also improved performance and dependability. Two significant reasons driving the global market’s growth are an increase in the number of cases with a blood transfusion problem and the increased frequency of lifestyle-related diseases. Furthermore, the worldwide blood irradiator market is being propelled forward by the development of new medical technologies, higher healthcare expenditure, and government efforts.
The global blood irradiation market is further predicted to be driven by the number of patients suffering from diseases and technological advancements in the medical device industry. Additionally, increasing medical device health outcomes is likely to generate significant market growth possibilities. For example, infections in the bloodstream are diagnosed and treated using laser irradiation therapy. As the demand for such therapies grows, manufacturers are inventing breakthrough blood irradiation systems, directly driving the market growth.
Leading market players form strategic alliances with other companies to expand their product portfolio and regional presence. As an example, Typenex Medical LLC, a medical device business based in the United States, launched Rad-Control – irradiation indication tag technology for blood banks and blood centers in the United States and Canada in September 2017. In addition, the company teamed with On Point Indicators GmbH of Austria to expand its global customer base.
JW Bioscience Co., Ltd., a South Korean medical device business, launched ‘Sangray,’ a blood radiation device that does not use dangerous radioactive elements and is used to treat graft-versus-host disease caused by transfusions.
According to a World Health Organization (WHO) estimate from 2018, noncommunicable diseases (NCDs) account for roughly 41 million deaths per year, or 71 percent of deaths worldwide. In addition, cardiovascular illnesses kill 17.9 million people every year, followed by other respiratory diseases (3.9 million), diabetes (1.6 million), and cancer (9.0 million). Because of the rising frequency of non-communicable diseases, there is a greater desire for faster blood-stream therapy, likely driving the blood irradiation market forward significantly.
Laser irradiation therapies are used to detect and treat infections in the bloodstream. Manufacturers are developing revolutionary blood irradiation systems for improved health treatments in response to the growing use of such therapies, directly driving the market growth. For example, thriveMD, a business based in the United States, released ultraviolet blood irradiation (UVB) therapy in 2017, a photo-oxidation treatment that exposes a blood sample to ultraviolet light for a brief period.
On the other hand, the shortage of qualified specialists in emerging nations and medical system regulatory restrictions are projected to restrain the worldwide blood irradiation market. In addition, transfusion delays, expenses, failure to irradiate, when necessary, increased potassium accumulation in RBC units and limited shelf life, and lower RBC recovery are all concerns and challenges connected with blood component irradiation.
Medical system regulatory rules and a scarcity of qualified professionals in emerging markets are expected to hinder industry growth. The Centre for Biologics Evaluation and Research (CBER), for example, is responsible for collecting blood and blood components for transfusion as well as developing and enforcing quality standards, inspecting blood facilities, and tracking complaints of errors, accidents, and adverse clinical events.
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KEY MARKET INSIGHTS:
Based on the type, the gamma-ray blood irradiation segment is predicted to have the highest proportion of the global blood irradiation market during the forecast period. This is due to various advantages, including the ability to irradiate blood samples, platelets, and loaded syringes quickly. Furthermore, gamma irradiation is the most commonly used sterilizing procedure.
Based on the region, due to the rising public awareness of blood-related ailments and the introduction of new revolutionary technology in healthcare, North America held the leading position in the blood irradiation market in 2021. For instance, Typenex Medical introduced Rad-Control, a novel irradiation indicator tag technology for blood centers and blood banks in Canada and the United States, in 2017. This method visually verifies blood irradiation, reduces current paperwork requirements, and improves healthcare personnel efficiency. As a result, North America is expected to hold the most significant share of the global blood irradiator devices market during the projected period. Furthermore, due to an increase in the incidence of illnesses associated with blood transfusion and different government programs for the development of novel irradiators, the market in the region is expected to grow significantly in the future years.
The Asia Pacific is expected to grow faster than Europe in the worldwide blood irradiation market. As the region’s population becomes more vulnerable to chronic diseases and the government becomes more interested in ensuring safety regulations for new product launches, the blood irradiation market is likely to grow. In the global blood irradiation market, Asia Pacific is predicted to develop faster than Europe. Government engagement in maintaining safety standards for new product launches is projected to increase as the population becomes more vulnerable to chronic diseases. UVLrx Therapeutics, for example, received CE Marking (European Conformity) in 2015 for its intravenous UV light therapy device, which delivers ultraviolet-A (UVA) and multiple visible light wavelengths intravenously.
Companies playing a pivotal role in the global blood irradiation market profiled in this report are Wuhan HNC Technology Co., Ltd., Wenzhou Gengsheng Health Medical Equipment Co., Ltd., O3Vets, Best Theratronics, Hitachi, Gilardoni, Gamma-Service, Cegelec, Shinva Medical, NPIC, and CIF medical.
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SEGMENTS ANALYZED UNDER THIS REPORT:
- Blood Bank
- Research Institutions
- North America
- Latin America
- Middle East and Africa
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