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Medical Radiation Detection, Monitoring & Safety Market 2024 Report By Key Companies, Regional Analysis And Forecast 2033
Medical Radiation Detection, Monitoring & Safety Market
According to The Business Research Company's, 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.
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Market Drivers and Trends:
The increasing number of radiotherapy centers is expected to propel the growth of the medical radiation detection, monitoring, and safety market going forward. Radiotherapy centers are specialized medical facilities where cancer treatment is medicated through the use of ionizing radiation, such as X-rays or gamma rays aiming to target and destroy cancer cells while minimizing damage to healthy tissue. Medical radiation detection, monitoring, and safety equipment ensures precise dosage delivery, protecting staff and patients from unnecessary exposure, and maintaining the highest safety standards during cancer treatment. For instance, in August 2022, according to the National Library of Medicine, a US-based federal government-operated medical library, there were 3,318 brachytherapy cancer centers worldwide. Among these, the United States leads with 772 machines, indicating the highest number of brachytherapy centers by country. Therefore, the increasing number of radiotherapy centers is driving the growth of the medical radiation detection, monitoring, and safety market.
Major companies operating in the medical radiation detection, monitoring, and safety market are focused on introducing apps for radiation protection to gain a competitive edge in the market. Apps available for radiation protection offer tools like dose tracking, safety guidelines, and real-time monitoring to ensure user safety in radiation-prone environments. For instance, in March 2023, Polimaster Inc., a US-based provider of radiation control solutions, announced the release of the new Polismart iOS app for iPhones and iPads. The application has been developed to offer an enhanced method for operating Polimaster products, specifically radiation control devices like detectors and dosimeters. The main objective of upgrading the app was to establish a more user-friendly and intuitive experience. This enables users to access their device history, modify settings, and fully utilize the capabilities of Polimaster devices.
Key Benefits for Stakeholders:
• Comprehensive Market Insights: Stakeholders gain access to detailed market statistics, trends, and analyses that help them understand the current and future landscape of their industry.
• Informed Decision-Making: The reports provide crucial data that support strategic decisions, reducing risks and enhancing business planning.
• Competitive Advantage: With in-depth competitor analysis and market share information, stakeholders can identify opportunities to outperform their competition.
• Tailored Solutions: The Business Research Company offers customized reports that address specific needs, ensuring stakeholders receive relevant and actionable insights.
• Global Perspective: The reports cover various regions and markets, providing a broad view that helps stakeholders expand and operate successfully on a global scale.
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Major Key Players of the Market:
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
Medical Radiation Detection, Monitoring & Safety Market 2024 Key Insights:
• The medical radiation detection, monitoring & safety market size is expected to grow to $2.97 billion in 2028 at a compound annual growth rate (CAGR) of 9.4%.
• Growth Of Radiotherapy Centers Fuels Expansion
• Increasing Focus On Introducing App For Radiation Protection To Gain A Competitive Edge
• North America will be the largest region in the medical radiation detection, monitoring, and safety market in 2023.
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