A linear accelerator system enables to boost the charged particles through a linear trajectory with the application of electromagnetic fields. They are used in various industries, especially for non-destructive testing (NDT), which performed to assess the properties of a diverse material without damaging them. The increasing use of scanning equipment in several industries and growing awareness regarding the requirement to use advanced technology equipment for better results are some of the significant factors surging the growth of the market. Additionally, the adoption of linear accelerator is swiftly increasing for the treatment of cancer and other neurological disorder; this factor is also boosting the growth of the market. The growth of industries, such as automotive, aerospace & defense, medical, food & beverages, and metals & mining will also contribute towards the growth of the linear accelerator market. Despite being a positive growth outlook, the ongoing COVID-19 outbreak is anticipated to negatively affect the global economy, which, in turn, affects the business activities and company revenues in the linear accelerator industry worldwide.
Varex Imaging, Elekta, Varian Medical Systems, CGN, and Altair Technologies – Prominent Market Participants in Linear Accelerator Market
The global linear accelerator market has been segmented into five major regions: North America, Europe, APAC, MEA, and SAM. North America holds the dominant share in the linear accelerator market, whereas APAC is expected to be the fastest-growing region in the global market. In the Asian region, presence of developing nations such China and India is experiencing growth in medical and healthcare as well as the industrial sector at an impressive pace owing to the rising disposable incomes, increasing urbanization, high population growth, supportive government policies, and growing number of public private partnerships.
The top five companies in the linear accelerator market include Varex Imaging, Elekta, Varian Medical Systems, CGN, and Altair Technologies. The above listing of key players is derived by considering multiple factors such as overall revenue, current linear accelerator solution portfolio, new product launches, market initiatives, investment in technology up-gradation, mergers & acquisitions, and other joint activities. There are various other notable players in the global linear accelerator market ecosystem, such as Bevatech GmbH, Dasheng; diondo GmbH, IBA; Iotron Industries.
Most of the market initiatives were observed in North America and Europe region, which have a high potential for linear accelerator market growth. Few of the important market initiatives and product developments from the industry are mentioned below:
|2019||CGN Dasheng signed an agreement with Nondestructive Testing Co., Ltd. and Thailand Advanced Sterilization Company Thailand for electron beam technology. The agreement consists a memorandum of understanding and electron accelerator sales order in order to endorse the construction of an Electron Accelerator Application Research Centre in Thailand.||APAC|
|2019||Varex Imaging Corporation showcased its industrial NDT imaging products at the Annual Meeting for the American Society for Nondestructive Testing in the US. At the exhibition, the company launched its Varex Industrial brand that has been produced to cover its growing Industrial and Security Inspection portfolio. Its industrial products comprise linear accelerators and X-ray tubes, digital detectors, and other image processing solutions.||North America|
|2019||Altair Technologies, Inc., which offers linear accelerators (LINAC), announced its website in order to serve several industries, such as medical, semiconductor, security, defense, and aerospace. The launch of the new website signifies the understanding and commitment to ensure that business performance is in sync with its customer expectations.||North America|
|2019||IBA Dosimetry GmbH, a subsidiary of IBA, launched myQA Machines 2019 software environment at the upcoming American Society for Radiation Oncology (ASTRO) congress. The software allowed substantially faster execution of linear accelerator quality assurance tests. It also enabled machine QA tests to be performed independently of the linac systems.||Europe|