Blood Irradiation Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Type (Intravenous Laser Blood Irradiation, Transcutaneous Laser Blood Irradiation, and Extracorporeal Blood Irradiation), Indication (Acute Leukemia, Lymphoma, Solid Tumors

Blood Irradiation Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Type (Intravenous Laser Blood Irradiation, Transcutaneous Laser Blood Irradiation, and Extracorporeal Blood Irradiation), Indication (Acute Leukemia, Lymphoma, Solid Tumors, Pelvic Tumors, and Others), and End User (Hospitals, Blood Banks, Diagnostics Clinics, and Research Institutes)

The blood irradiation market is projected to reach US$ 104.37 million by 2028 from US$ 65.15 million in 2021; it is expected to grow at a CAGR of 7.0% from 2022 to 2028.

The increase in communicable and noncommunicable diseases prevalence and rise in healthcare expenditure and government initiatives are among the factors driving the market growth. There is an increase in the number of incidence of communicable and noncommunicable diseases, including cancer, cardiovascular disorders, chronic renal disease, and stroke, owing to a large population across the world susceptible to such conditions. According to World Health Organization (WHO), cardiovascular disorders are the leading cause of death globally, and ~17.9 million deaths are reported yearly. Additionally, the rising prevalence of communicable diseases, such as Hepatitis, influenza, Human Immunodeficiency Virus (HIV), and acquired immunodeficiency syndrome (AIDS), are driving the growth of the blood irradiation market. According to WHO, 325 million people were infected with the hepatitis B virus in 2020, and 900,000 people die from hepatitis B virus infection every year. Moreover, a large geriatric population across the world is contributing to the prevalence of noncommunicable diseases, such as cardiovascular disorders, renal disorders, and strokes. According to WHO, the population of people aged 60 years and above was 1 billion in 2019 and is expected to increase to 1.4 billion by 2030 and 2.1 billion by 2050. The elderly population is susceptible to noncommunicable disease conditions owing to various factors such as poor nutrition, lack of physical activity, excessive use of tobacco, and consumption of alcohol.

Additionally, surging blood transfusion owing to an increase in surgical procedures, accidents, trauma cases, and disorders, along with the rising prevalence of bloodstream infections, supports the market growth. Bloodstream infections, underlying conditions, and invasive procedures are common among the geriatric population. Bloodstream infections are the major cause of illness and death among large populations. According to the National Library of Medicine, ~28,000 bloodstream infections occur across the world annually. Moreover, rising awareness about bloodstream infections and increasing immune responses to transfused blood can cause complications as increasing use of irradiated blood in cancer treatment strengthens the immune system and improves overall health of patients, which is driving the growth of the blood irradiation market.

Thus, the increase in prevalence of communicable and noncommunicable disorders, rise in blood transfusion, surge in bloodstream infections, and increase in immune responses are driving the growth of the blood irradiation market.

Increasing immunocompromised population and rising leukemia and lymphoma cases are expected to create ample opportunities for the blood irradiation market in the coming years. According to American Medical Association, in 2021, around 2.7% of the US adult population, ~7 million people, were immunocompromised, due to organ transplants, cancer, and autoimmune disorders. As per the National Institute of Environmental Health Sciences, autoimmune disorders affected more than 24 million population in the US in 2021, and their prevalence rate ranges from 5 to 8%. Additionally, the rising prevalence of cancer and tumors increased the use of chemotherapy and other treatments that negatively affect an individual's immune system. According to World Cancer Research Fund International, 18.1 million cancer cases were diagnosed in 2020, of which 9.3 million were men and 8.8 million were women.

Moreover, there has been significant growth in leukemia and lymphoma incidence rates across the world. According to Leukemia and Lymphoma Society, an estimated total of 186,400 people in the US were diagnosed with leukemia, lymphoma, or myeloma in 2021, and new cases of leukemia, lymphoma, and myeloma are accounted for 9.8% of the estimated 1,898,160 new cancer cases in 2021. Thus, a significant increase in the immunocompromised population and the rising prevalence of autoimmune disorders are expected to create ample opportunities for the blood irradiation market growth in the coming years.

Blood irradiators are a major requirement in the healthcare industry. Hence, researchers have been carrying out research & development activities, which have resulted in product innovations.

For instance, in November 2018, JW Bioscience, a subsidiary of JW Pharmaceutical, launched Sangray developed by Hitachi. Sangray is a medical device used to prevent transfusion-related graft-versus-host disease by irradiating a blood bag for transfusion with X-rays. It is also Korea’s first blood radiation device that does not use Cesium-137, which is a hazardous radioactive substance.

There have been advancements in alternative technologies, such as proton and ion beam therapies, that use high-energy, positive ions and have high precision in treating tumors with reduced exposure to normal tissues. Moreover, FLASH radiotherapy, carbon ion therapy, volumetric-modulated arc therapy, and intensity-modulated radiotherapy treat solid tumors. These technological advancements and developments have a high precision rate with reduced side effects, likely to create ample opportunities for the blood irradiation market in the coming years. Thus, an increase in technological advancements, rise in product launches, and the surge in the use of alternative technologies are expected to support the growth of the market in the coming years..

Further, rising partnerships and collaborations of blood centers and huge companies drive the growth of the blood irradiators market.

Geography-Based Insights

North America held the largest share of the blood irradiation market in 2021. The US held the largest market share in North America. Advanced healthcare infrastructure, easy accessibility to medical facilities, and rising emphasis on improving treatment outcomes are expected to accelerate the growth of the market during the forecast period.

Asia Pacific is expected to witness the highest growth in the global blood irradiation market during the forecast period. In the coming years, the market is the region is expected to grow significantly in China, Japan, India, and other countries. The market is driven by growing investments from international players in China and India, improving government support in countries such as China, and advancing healthcare infrastructure. Therefore, the region would hold huge potential for the blood irradiation market players to grow during the forecast period.

Type-Based Insights

The blood irradiation market, based on type, is segmented into intravenous laser blood irradiation , transcutaneous laser blood irradiation,and extracorporeal blood irradiation. In 2021, the intravenous laser blood irradiation segment accounted for the largest market share. However, the extracorporeal laser blood irradiation segment is expected to register the highest CAGR of 7.8% during the forecast period.

End User-Based Insights

Based on end user, the blood irradiation market is segmented into hospitals, blood banks, diagnostics clinics, and research institutes. The hospitals segment held the largest market share in 2021. However, the blood banks segment is estimated to register the highest CAGR of 7.7% in the market during the forecast period.

Indication-Based Insights

By indication, the blood irradiation market is segmented into acute leukemia, solid tumors, pelvic tumors, lymphoma, and others. The acute leukemia segment held the largest market share in 2021. However, the lymphoma segment is estimated to register the highest CAGR of 8.8% in the market during the forecast period..

The World Health Organization (WHO), Globocan, World Bank Data, National Health Service (NHS), National Library of Medicine (NLM), and Eurostat are a few secondary sources referred to while preparing the report on the blood irradiation market.

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