Blood Irradiation Market Size, Share, Growth, and Industry Analysis, By Type (X-ray Blood Irradiation and Gamma-ray Blood Irradiation), By Application (Blood Bank, Hospital, and Research Institutions), and Regional Forecast By 2031

Updated On: 22 April 2024

Blood Irradiation Market Report Overview

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The global blood irradiation market size was USD 54.64 million in 2022, as per our research, the market is expected to reach USD 126.97 million in 2031, exhibiting a CAGR of 9.82 % during the forecast period.

The global COVID-19 pandemic has been unprecedented and staggering, with the blood irradiation market experiencing lower-than-anticipated demand across all regions compared to pre-pandemic levels. The sudden rise in CAGR is attributable to the market's growth and demand returning to pre-pandemic levels once the pandemic is over.

Blood irradiation is a medical treatment that involves exposing blood to low levels of radiation in order to achieve therapeutic effects. The process involves extracting a small sample of a patient's blood, and then exposing the blood to a specific type of radiation, such as ultraviolet (UV) light or low-level laser therapy. The treated blood is then reintroduced into the patient's bloodstream.

The market for blood irradiation is anticipated to rise with a significant CAGR over the forecast period. Due to an increase in demand for alternative and complementary therapies. As some proponents of blood irradiation claim that the treatment can help with a range of health conditions, including autoimmune disorders, viral infections, and cancer. Further, based on the product, gamma-ray blood irradiation is predicted to be the largest segment. While hospitals are the leading application segment to produce higher demand for the treatment in the market.

COVID-19 Impact: Pandemic Restricts the Treatment for Non-Essential Diseases

The COVID-19 has had a negative impact on the market. In early 2020-2021, the economic disruption caused by the pandemic led to decreased demand for non-critical medical treatments, including blood irradiation therapy. In addition, the restrictions on non-essential medical procedures in many countries have limited the ability of providers to offer blood irradiation therapy due to overly burden of treatment for virus-infected patients on the healthcare institution. However, growing awareness of blood irradiation treatment is likely to enhance the growth of the market in the coming years.

Latest Trends

"Trend of LED-based Blood Irradiation Devices Grow the Market Possibilities"

The market is growing steadily over the last few years with emerging innovations and trends in the market. LED-based blood irradiation devices are gaining popularity and in trend due to their advanced feature. As traditional blood irradiation devices use low-level laser therapy or ultraviolet light, but newer devices are using light-emitting diodes (LEDs) for blood irradiation. Also, LED-based devices are more cost-effective and have been shown to be as effective as traditional devices in some studies. Along with this, there is a growing interest in researching the effectiveness of blood irradiation therapy for various health conditions, including viral infections, autoimmune disorders, and cancer. This research could lead to a better understanding of the therapy and its potential benefits. Consequently, such trends and innovations are attributed to augment the blood irradiation market growth over the forecast 2022-2031.

Blood Irradiation Market Segmentation

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• By Type Analysis

According to type, the market can be bifurcated into X-ray blood irradiation and gamma-ray blood irradiation.

• By Application Analysis

Based on application, the market can be divided into blood bank, hospital, and research institutions.

Driving Factors

"Rising Demand for Alternative and Complementary Therapies Uplift the Market Growth"

Blood irradiation treatment is gaining popularity due to the rising demand for alternative and complementary therapies. In recent years, a growing interest has been noticed in alternative and complementary therapies, including blood irradiation therapy, as people look for ways to improve their health and well-being, the factor is driving the demand for blood irradiation treatment among patients. 

"Potential Benefits for a Range of Health Conditions Aid the Growth of the Market"

The potential benefits for a range of health conditions are also considerable factors to push the market growth. As blood irradiation therapy is believed to have potential benefits for a range of health conditions, such as viral infections, autoimmune disorders, and cancer. This has led to increased interest in the therapy among patients and healthcare providers.

Restraining Factors

"Lack of Regulatory Oversight Can Impede the Market Expansion"

Despite a growing industry, the market can be restricted due to a lack of regulatory oversight. Since, blood irradiation therapy is not currently regulated by the U.S. Food and Drug Administration (FDA), Centre for Biologics Evaluation and Research (CBER), or other regulatory agencies in many countries. This lack of oversight can lead to inconsistent quality and safety standards for blood irradiation devices and therapies which may limit the expansion of the market.

Blood Irradiation Market Regional Insights

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"North America Leads the Market with the Presence of Extensive Healthcare Providers & Research Institutions"

As per market research, North America is presently the leading region in the market, with the U.S., accounting for the largest blood irradiation market shares globally. Due to several factors, including the high prevalence of chronic diseases such as cancer and autoimmune disorders in North America, as well as the presence of a large number of healthcare providers and research institutions, the region is dominating the market. In addition, there is a growing interest in alternative and complementary therapies in the U.S. which has helped to drive demand for blood irradiation therapy.

Key Industry Players

"Eminent Companies Focus to Innovate New Technology & Strategic Partnerships to Expand their Market Shares"

About key players, eminent companies are actively involved in product development, innovation, and strategic partnerships to expand their market share and meet the growing demand for blood irradiation devices and therapies. Furthermore, other notable players in the market include JL SHEPHERD & ASSOCIATES, Gamma-Service, Best Theratronics, Rad Source, CIF medical, Shinva Medical. There are also several smaller companies and startups operating in the market, particularly in the field of research and development of new blood irradiation technologies and therapies.

List of Market Players Profiled

• JL SHEPHERD & ASSOCIATES
• Gamma-Service
• Best Theratronics
• Rad Source
• CIF medical
• Shinva Medical
• Gilardoni
• Hitaci

Report Coverage

This report defines the blood irradiation market. It emphasizes the market value, expected CAGR, and USD value over the forecast period, before and after the impact of the COVID-19 pandemic restrictions on the international market, and how the industry is going to turn the corner is also stated in the report. The report provides significant market data with its product type and product applications, end-use details, and an idea of the market growth in the future. This report also provides an understanding of the growing market trends and developments and their effects on the market growth, driving factors along with restraining factors that impact the market dynamics. Along with this, the leading region, key players of the market, and their tactics to beat the market competition, sustainable policies, their collaboration, mergers, companies’ profile, previous years’ revenue, profit & loss, and market position based on their share value in the market, are also explained in the report.