Medical Radiation Detection, Monitoring & Safety Market to Grow In Near Future And With the High CAGR Value - Scalar Market Research

Exposure to radioactive radiations in high levels is linked with various dangerous health complications. Since these radiations are not only odorless but also invisible, there arises a need for equipment that detects, monitors, and prevents the exposure to radioactive radiations and thus provides safety to people. Medical radiation, detection, and safety equipment are especially required in hospitals and clinics treating cancer and tumors. Medical radiation, detection, and safety equipment are also essential for applications of nuclear medicine where radioactive tracers are employed to detect cancer early and also help in the monitoring of the progression of the deadly disease by means of visual tracking of the radiopharmaceuticals. Governments across the globe are concentrating on the solving the issues relating to safety against radiations. This is pushing the demand for safety devices, thereby driving the global medical radiation detection, monitoring and safety market. Other government agencies such as International Atomic Energy Agency (IAEA) and CDC for emergency training and education on radiations are anticipated to further the growth of the global medical radiation detection, monitoring and safety market.

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KEY PREMIUM INDUSTRY INSIGHTS

1. The growing safety awareness among people across the globe is one of the major factors fueling the demand for medical radiation detection, monitoring and safety devices. As the realization of the harmful effects of working radiation-prone environments is dawning upon people working in the healthcare industries worldwide, the demand for safety devices is growing.

2. Growing prevalence of cancer and insurance coverage are factors boosting the growth of the market. The heightened use of radioactive materials across industrial processes such as power production and in the defense sector is encouraging the demand for medical radiation detection, monitoring and safety devices.

3. The threat of terrorist attacks is constantly looming and this has resulted in the need for reliable and safe devices that offer protection. In this unsafe environment and amidst insecurity, the need for medical radiation detection, monitoring and safety devices is felt.

4. The growth of this market is expected in the coming years as players in the market are striving hard to incorporate the latest technology, increasing their efficacy and enhancing the safety features. As governments across nations impose strict regulations on the emission of radioactive radiations, the market will benefit further.

By region, North America is currently in a leading position. It is anticipated that North America will lead in the global radiation detection, monitoring, and safety equipment market on account of the presence of some of the major vendors of the industry, government support through regulations and incentives, and high investments in research and development. Europe is likely to be the second most lucrative market for radiation detection, monitoring, and safety equipment. The rising incidences of cancer in the region are one of the key factors creating a need for this safety equipment.

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KEY MARKET PLAYERS

Key players in the medical radiation detection, monitoring & safety market include:

1.Landauer, Inc.
2.Mirion Technologies, Inc.
3.IBA Worldwide
4.Thermo Fisher Scientific Inc.
5.Sun Nuclear Corporation
6.Ludlum Measurements, Inc.
7.Radiation Detection Company Inc.
8.Biodex Medical Systems, Inc.
9.Arrow-Tech, Inc.
10.Fluke Biomedical

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