Increasing global population vulnerable to various communicable and non-communicable diseases (NCD’s) such as cancer, chronic kidney disease, high blood pressure disease, stroke and cardiovascular diseases, which is expected to drive the global blood irradiation market growth. For instance, according to the World Bank’s 2016 report, the global population reached up to 7.44 billion.
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Infections in the blood stream are diagnosed and irradiated by laser irradiation therapies. Increasing use of such therapies is driving manufacturers to develop innovative blood irradiation systems for improved health treatments, which is directly boosting the market growth. For instance, in 2017 thriveMD, a U.S.-based company, introduced ultraviolet blood irradiation (UVB) therapy, which is a photo-oxidation treatment that briefly exposes a sample of the blood to ultraviolet light.
North America accounted for the dominant position in the blood irradiation market, owing to growing awareness among the population regarding blood related diseases and launch of new innovative technology in the field of healthcare.
For instance, in 2017, Typenex Medical launched Rad-Control, a new irradiation indicator tag technology for blood centers and blood banks in Canada and the U.S. This checks blood irradiation by visual verification, minimizes current documentation practices, and increases efficiency for healthcare staff.
Rising population vulnerable to various chronic diseases and government involvement in maintaining safety standards for new product launches is expected to propel the blood irradiation market growth in the region. For instance, in 2015, UVLrx Therapeutics received CE Marking (European Conformity) for its intravenous UV light therapy device, that offers intravenous, concurrent delivery of ultraviolet-A (UVA), and multiple visible light wavelengths.
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Major players operating in the global blood irradiation market include Typenex Medical, UVLrx Therapeutics, Best Theratronics, Hitachi Medical Systems, Actemium NDT-PES, Rad Source Technologies, and Gilardoni S.p.A.
Market players are engaged in adopting strategies such as mergers, collaborations, new product launches, and partnerships to retain their position in the market. For instance, in 2017 Typenex Medical exclusively partnered with a European manufacturer- On Point Indicators GmbH, to offer its product to customers.