Global Irradiation Apparatus Market: Overview
Irradiation apparatus refer to devices capable of producing ionizing radiations such as x-rays, gamma rays, high speed neutron, alpha and beta particles, and electrons. A variety of instrument used across a number of applications and end-use sectors utilize irradiation features, with the fields of medicine and research being the primary takers. In the past few years, the market for irradiation apparatus has witnessed a significant rise in technological advancements and the entry of portable devices for use across veterinary, dental, and pediatric diagnosis. The market has witnessed growth at a healthy pace owing to the increased demand from key application sectors and the trend is expected to remain strong over the next few years as well.
This report on the global market for irradiation apparatus presents a complete study of notable trends in the market and factors such as growth drivers, restraints, regulations, and competition, which are expected to have a significant influence on the overall future development of the market. The report provides several forward-looking statements denoting the growth prospects of the market and its key segments over the period between 2016 and 2024. A detailed analysis of the recent technological developments to have hit the market, the competitive landscape of the global market, and the regulatory scenario across key regional markets is also included in the report.
Global Irradiation Apparatus Market: Trends and Opportunities
The key forces leading to the increased usage of irradiation apparatus include the advent of new and more convenient product varieties. The easy availability of portable irradiates apparatus has increased their uptake in hospitals and clinics for a variety of purposes including diagnosis, therapeutics, chiropractic diagnosis, and dental diagnosis.
Advent of new technologies has encouraged the pharmaceutical and medical industries to increase their usage of irradiation apparatus, driving the overall growth of the market. Introduction of products such as laser beam and rotary laser irradiation apparatus, used widely to undertake linear welding with a uniform width has increased the set of potential industrial applications of irradiation apparatus in the recent past.
However, the market faces growth restraints such as strict regulatory aspects involved in the usage, storage, sale, and disposal of irradiation apparatus. Moreover, the high costs of these devices is another key restraint challenging the overall growth prospects of the market for irradiation apparatus, especially across developing or less developed economies.
Global Irradiation Apparatus Market: Geographical and Competitive Dynamics
From a geographical standpoint, the report examines the market for irradiation apparatus across regions such as Asia Pacific, North America, Europe, and Middle East and Africa. Of these, the market in North America is presently the dominant market owing to the presence of some of the world’s leading pharmaceutical companies and thus the vast scope of application of irradiation apparatus in the region. Europe, another leading region in the pharmaceutical sector, is also one of the leading contributors to the overall revenue of the global irradiation apparatus market.
The Asia Pacific market holds a significant future growth opportunity owing to a thriving pharmaceutical industry and rising government interventions aimed at the development of the sector. As a number of international pharma giants extend their roots in the region through high-end manufacturing facilities, the need for irradiation apparatus will be felt at an encouraging pace in the region over the next few years.
Some of the leading players operating in the global irradiation apparatus market are Philips Healthcare, Carestream Health Inc., Agfa Gevaert NV, Toshiba America Medical Systems Inc., Fujifilm Holdings Corporation, Varian Medical Systems Inc., Siemens Healthcare, Hitachi Ltd., and Ziehm Imaging, Inc.
Note : All statements of fact, opinion, or analysis expressed in reports are those of the respective analysts. They do not necessarily reflect formal positions or views of Transparency Market Research.