Medical Radiation Detection, Monitoring & Safety Market is likely to Register Double Digit CAGR By 2025 End
According to the United States Nuclear Regulatory Commission, in 2014, seven out of every 10 Americans underwent diagnostic X-rays and radiation therapy. Furthermore, 10 million nuclear medicine procedures are performed in hospitals and radiology centers in the U.S. each year. Radiation is commonly employed to detect injuries, generate 3D images, as teletherapy, brachytherapy, and afterloading to treat tumors. Thus, the major factors which are anticipated to act as drivers for the medical radiation detection, monitoring, and safety market growth are increased usage of nuclear medicine and radiation therapy for diagnosis and treatment, rising cancer prevalence, and increase in the population of the persons with insurance. However, delay in new product approvals due to strict regulatory guidelines and scarcity of skilled professional to handle radiation related procedures are anticipated to act as restraints for this market.
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The medical radiation detection, monitoring and safety market can be segmented into safety products, monitoring, detection and detector products, and end-users. In terms of detector, the medical radiation detection, monitoring and safety market can be segmented into solid-state detectors, gas-filled detectors, and scintillators. Due to the wide application in medical imaging and favorable cost-performance ratio of gas-filled detectors it had acquired the major share of medical radiation detection, monitoring and safety market in recent years.
In terms of product type, the market can be segmented into area process monitors, personal dosimeters, environment radiation monitors, environment radiation monitors, radioactive material monitors, surface contamination monitors, and others. Personal dosimeters accounted for a major share of the medical radiation detection and monitoring market due to their high demand in the medical field in recent years.
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In terms of modality, the market can be segmented into hand safety products, face protection products, full-body protection products, and others. The full body protection segment is anticipated to expand in the near future due to the increased usage of radiation in various treatment procedures and rising awareness among healthcare professionals and patients.
In terms of end-user, the market can be segmented into hospitals and non-hospitals. Rising number of hospitals around the world is a key factor fuelling the expansion of the market in the end-user segment.
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In terms of geography, the market can be segmented into North America, Europe, Asia, and Rest of the world. Expansion in the North America market is mainly due to the rise in usage of radio-diagnostic instruments and new technological advancements in radiation detection, monitoring and safety products. The market in Asia is anticipated to expand in the near future due to increase in number of hospitals in the region, increased cancer incidences, and rise in number of installations of radiological imaging instruments.
Key participants in the medical radiation detection, monitoring, and safety market are Arrow-Tech, Inc., Amray Medical, Biodex Medical Systems, Inc., Fluke Biomedical, IBA Worldwide, Infab Corporation, Landauer, Inc., Ludlum Instruments, Inc., Mirion Technologies, Inc., PTW Freiburg GmbH, Radiation Detection Company, Thermo Fisher Scientific, and Unfors Raysafe AB.
Transparency Market Research (TMR) is a global market intelligence company providing business information reports and services. The company’s exclusive blend of quantitative forecasting and trend analysis provides forward-looking insight for thousands of decision makers. TMR’s experienced team of analysts, researchers, and consultants use proprietary data sources and various tools and techniques to gather and analyze information.
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