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Medical Radiation Detection, Monitoring & Safety Market Analysis 2024 -2033: Forecasted Market Size, Top Segments, And Largest Region | Fortive Corp., Mirion Technologies Inc., Thermo Fisher Scientific Inc., Ludlum Measurements Inc., Radiation Detection C
Medical Radiation Detection, Monitoring & Safety Market Characteristics
The Business Research Company offers in-depth market insights through Medical Radiation Detection, Monitoring & Safety Global Market Report 2024, providing businesses with a competitive advantage by thoroughly analyzing the market structure, including estimates for numerous segments and sub-segments.
Market Size And Growth Forecast:
The medical radiation detection, monitoring & safety market size has grown strongly in recent years. It will grow from $1.88 billion in 2023 to $2.07 billion in 2024 at a compound annual growth rate (CAGR) of 9.9%. The growth in the historic period can be attributed to regulatory compliance, radiation therapy growth, nuclear medicine expansion, patient safety, emergency preparedness.
The medical radiation detection, monitoring & safety market size is expected to see strong growth in the next few years. It will grow to $2.97 billion in 2028 at a compound annual growth rate (CAGR) of 9.4%. The growth in the forecast period can be attributed to personalized radiation therapy, diagnostic radiology, worker safety, patient safety, radiation dose reduction. Major trends in the forecast period include x-ray and imaging advancements, continuous technological innovation, advanced imaging techniques, artificial intelligence (ai)-enhanced radiation monitoring, dosimetry advances.
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Market Segmentation:
The main types of medical radiation detection, monitoring, and safety products in the market are personal dosimeters, area process monitors, environmental radiation monitors, surface contamination monitors, radioactive material monitors, and other medical radiation detection and monitoring products. Personal dosimeters refer to devices worn by an individual for a set period and sent to a facility that analyses the radiation dose. It can also be examined at the location. The various safety products include full-body protection, face protection, hand safety, and other medical radiation safety products. The various detectors are gas-filled detectors, scintillators, and solid-state detectors and are used in hospitals and non-hospitals.
Major Driver - Growth Of Radiotherapy Centers Fuels Growth In The Medical Radiation Detection And Safety Market
The high prevalence of cancers is expected to propel the growth of the medical radiation detection, monitoring, and safety market going forward. Cancer is a disease condition where certain cells in the body multiply uncontrollably and spread to other parts of the body. As radiation therapy and nuclear medicine expose cancer patients to dangerous radioactive particles or radiation, medical radiation detection, monitoring, and safety equipment are used to protect the patient from harmful radiation and also detect and monitor the radiation levels. For instance, in 2023, according to the American Cancer Society Inc., a US-based non-profit health group, 1,958,310 new cancer cases are expected to be diagnosed in the US, an increase compared to more than 1,918,030 new cancer cases in 2022. Therefore, the high prevalence of cancers is driving the growth of the medical radiation detection, monitoring, and safety market.
Competitive Landscape:
Major companies operating in the medical radiation detection, monitoring & safety market include Fortive Corp., Mirion Technologies Inc., Thermo Fisher Scientific Inc., Ludlum Measurements Inc., Radiation Detection Company (RDC) Inc., Atomtex, Ion Beam Applications SA, Scionix Holland B.V., RadComm Systems, Micron Semiconductor Ltd, Bar-ray Products Inc., Bertin Technologies SAS, Centronic Ltd., Fluke Biomedical, Burlington Medical, AliMed Inc., Polimaster Ltd., AmRay Group, Infab LLC, Arrow-Tech Inc., SE International Inc., Nucleonix Systems, Alpha Spectra Inc., LND Inc., Trivitron Healthcare Pvt. Ltd., Lite Tech Industries LLC, BLOXR Solutions LLC, Sun Nuclear Corporation, Biodex Medical Systems Inc., PTW Freiburg GmbH
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Top Trend - Increasing R&D Investment In Medical Radiation Detection And Safety Market
Research and development for technological advancement is a key trend gaining popularity in the medical radiation detection, monitoring, and safety market. Major companies are investing in R &D activities to develop new products and support innovation. For instance, Mirion Technologies, Inc., a US-based nuclear monitoring and detection systems provider, reported that R&D expenses were $29.4 million in the year 2021, an increase of $13.5 million, or 84.9%, over the year 2020. The increase in R&D spending of $2.5 million for new product development, such as evrCAM, a new product that leverages the company's core technology of radiation-tolerant cameras for the nuclear power industry, to fulfil the needs of the radiation oncology business.
The Table Of Content For The Market Report Include:
1. Executive Summary
2. Medical Radiation Detection, Monitoring & Safety Market Characteristics
3. Medical Radiation Detection, Monitoring & Safety Market Trends And Strategies
4. Medical Radiation Detection, Monitoring & Safety Market - Macro Economic Scenario
5. Medical Radiation Detection, Monitoring & Safety Market Size And Growth
…..
27. Medical Radiation Detection, Monitoring & Safety Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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