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Market Expansion and Growth Trajectory

• The medical irradiation market has grown significantly, expanding from $1.44 billion in 2023 to $1.69 billion in 2024, with a CAGR of 16.8%.
• Forecasted to reach $2.93 billion by 2028, growing at a CAGR of 14.9%.
• Drivers include rising cancer prevalence, adoption of radiation therapy, and expanding healthcare infrastructure.

Role of Medical Irradiation in Cancer Management

• Medical irradiation plays a pivotal role in cancer treatment by targeting cancer cells while minimizing damage to healthy tissues.
• Increasing cancer prevalence underscores the market’s critical role in global healthcare.

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Key Players and Innovations

• Hitachi Ltd., Thermo Fisher Scientific Inc., Toshiba Corporation, among others, drive innovation in the market.
• Advances include AI integration, online adaptive radiotherapy, proton therapy, and image-guided radiation therapy (IGRT).

Addressing Rising Cancer Cases Worldwide

• Cancer cases continue to rise globally, necessitating advanced treatment options.
• For example, Europe saw a 2.3% increase in new cancer cases in 2022, driving market growth.

Strategic Acquisitions and Expansions

• Halma Plc‘s acquisition of IZI Medical Productsenhances its radiation therapy portfolio, strengthening patient care capabilities.

Market Segmentation

1. Disease Type
   • Trisomy 21
   • Translocation Medical Irradiation
   • Mosaic Medical Irradiation
2. Treatment
   • Diagnosis
   • Therapy
3. Distribution Channel
   • Direct Tender
   • Retail Sales
   • Other Distribution Channels
4. End User
   • Hospitals
   • Clinics
   • Homecare Settings
   • Therapy Centers
   • Other End-Users

Regional Insights

• North Americaled the medical irradiation market in 2023, with Asia-Pacific poised for rapid growth.

Conclusion

The medical irradiation market is pivotal in the global fight against cancer, driven by technological advancements and strategic expansions by key players. As innovations like AI and proton therapy reshape treatment paradigms, the market’s role in enhancing patient outcomes continues to expand. With a focus on precision medicine and early detection, the sector is poised to address the evolving needs of healthcare systems worldwide, ensuring effective and personalized cancer care for all.

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