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Nov-2021

Global Blood Irradiation Market Size To Reach USD 81.31 Mn By 2026

Global Blood Irradiation Market Size, Share, Trends, COVID-19 Impact & Growth Analysis Report – Segmented By Type, Application & Region (North America, Europe, Asia-Pacific, Latin America, Middle East and Africa) – Industry Forecast (2021 to 2026)

As per our research report, the size of the global blood irradiation market is projected to be growing at a CAGR of 5.49% from 2021 to 2025 and was worth USD 62.24 million in 2021.

Irradiation of human blood is used to prevent transfusion-associated graft-versus-host disease, which causes the devastating side effects of leukocytes in the blood component for immunocompetent transfusion recipients.

The increasing prevalence of COVID-19 will influence this studied market growth over the forecast period. The market has seen a gradual increase with the rising incidence of blood cancers across the globe. There is a tremendous demand for personalized therapies for patients in need of treatment, which is anticipated to drive the market in the years to come. However, between 2020 and 2021, market growth has been slow due to restrictions on hospital visits and the overburden in the healthcare sector.

Graft versus host disease (GVHD) is a rare but severe complication following blood transfusions. The need for blood transfusions in the years to come is anticipated to drive the blood irradiation market. According to the Royal Children's Hospital in Melbourne, transfusion-associated GVHD occurs when lymphocytes from the transfused blood donor cause a reaction in the host body, resulting in diarrhea, hepatitis, pancytopenia, fever, chills, and rash.

The increasing use of blood components in medical facilities and blood irradiation to help prevent and control GVHD is estimated to drive market growth. According to estimates, nearly 90% of deaths in people with GVHD. According to the Department of Health and Human Services, about 500 blood irradiators irradiated about 2.5 million units of blood in 2014. According to the 2016 World Bank report, the world's population has reached 7,500 million, which will increase the use of blood irradiation. In addition, the high prevalence of sickle cell disease has led to an increase in the demand for blood transfusions. According to the American Red Cross, sickle cell anemia affects over a million people in North America, and over 1,000 babies suffer from this disease each year. In addition, according to the American Cancer Society, approximately 1.8 million people were diagnosed with cancer in 2017.

The increasing prevalence of noncommunicable diseases is driving the demand for faster treatment of the bloodstream, which is projected to boost the blood irradiation market's growth significantly. According to a 2018 report from the World Health Organization, non-communicable diseases cause an estimated 42 million deaths each year, equivalent to 72% of all deaths worldwide. Cardiovascular disease is responsible for 18 million deaths each year, followed by other respiratory diseases at 4 million), diabetes at 1.8 million) and cancer, with over 9 million deaths, respectively.

Additionally, Advancing Transfusion Cellular Therapies Worldwide (AABB) works with the Food and Drug Administration (FDA) to ensure appropriate irradiation guidelines and regulations for blood products, thereby supporting the blood irradiator market with safe and limited use.

However, the high cost of irradiators and the lack of awareness among the people about the uses and benefits of irradiators are expected to hamper the market's growth. Additionally, stringent regulatory policies regarding medical systems and the lack of qualified professionals in emerging economies are likely to impact the market's development negatively.

KEY MARKET INSIGHTS:

Based on the product type, gamma irradiation of blood is studied to gain the largest market share in the forecast years. Factors such as the ability to easily irradiate blood samples, platelets, and loaded syringes will drive the market segment. While gamma irradiation has many benefits, it is the most common method of sterilization treatment in many countries.
Based on the application, the largest share of the blood irradiation market is forecasted to be held by hospitals, owing to the rising number of traumatic injury cases.
Based on the region, in 2020, the North American market is predicted to account for the largest share of the global blood irradiation market, attributed to the improving government norms and growing technological advancements with frequent product launches. Besides, the increasing adoption of X-ray irradiators will also see positive market growth. On the other hand, the Asia-Pacific blood irradiation market will grow at a high CAGR during the forecast period, owing to the increased investment in research and development in the related field, the large patient base, and the increased incidence of chronic diseases.
The major players operating in the blood irradiators market focus on adopting collaborative strategies to increase their market share and expand their product portfolios. A few of the key players in this market are Rad Source Technologies, Sukosol Group, Cegelec NDT-PES, Typenex Medical, Gamma-Service Medical GmbH, and Best Theratronics Ltd.

MARKET SEGMENTATION:

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