The Medical Radiation Detection, Monitoring, and Safety Market are expected to be valued at USD 1,339.4 Million in 2027 from USD 899.9 Million in 2019, registering a CAGR of 5.0% through the forecast period. The exponential industry progress can be accredited to the escalating number of cancer cases worldwide. The growing application of nuclear medicine and radiation therapy in diagnosing and treating rare and chronic disorders is further projected to propel market growth.
The primary factor contributing to the industry’s progress is the rising expansion of diagnostic imaging centers and a surging number of people choosing for health and medical insurance. The increased applications of advanced medical technologies and the extensive R&D activities are adding to the market growth. Medical radiation is the origin point of several complications. The increasing efforts of the government bodies to develop solutions for addressing radiation-related health issues are adding traction to the market growth. The surging awareness in people worldwide is also driving the market expansion. The adverse effects of medical devices on humans are creating an augmented demand for safety devices in the industry.
The shortage of skilled experts and trained medical professionals is projected to impede the market demand. Stringent regulations concerning the safety of these products are also predicted to restrain the industry’s expansion. However, the increasing incorporation of advanced technologies by healthcare facilities such as ambulatory surgical centers, hospitals, diagnostic centers, and cancer research institutes is expected to circumvent the restraining factors and contribute to market growth.
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Key Highlights from Report:
- Personal dosimetry is used to regulate doses for patients exposed to radiation through their working environment. The dosimetry techniques have different variations and depend partially on the source of radiation, either outside the body or inside. It is also applied to assess external radiation exposure.
- The gas-filled detectors sub-segment is estimated to grow with a significantly high CAGR through the predicted timeframe due to the suitable performance-to-cost ratio of gas-filled detectors combined with the increasing application of the medical imaging field.
- The augmenting patient pool of cancer in special clinics or research institutes is bolstering the growth of the clinics sub-segment. These clinics are equipped with the latest state-of-the-art machines to offer sophisticated, reliable, and safe procedures to patients. The segment is foreseen to expand a significant CAGR during the timeline.
- North America accounted for a sizeable share of the industry in 2019 and is estimated to retain the market position throughout the estimated timeline. The growth can be ascribed to the application of suitable regulatory policies and the accelerating innovations and technological upgrades in the region. Additionally, the growing requirement from the United States is forecast to impact the industry expansion positively.
- Prominent players in the industry include Amray Group, Mirion Technologies, Inc., Thermo Fisher Scientific, Fortive Corporation, Polimaster, Inc., Infab Corporation, Biodex Medical Systems, Inc., Sun Nuclear Corporation, PTW Freiburg GmBH, and Bertin Instruments, among others.
- In 2019, Kromek introduced “D3S PRD (personal radiation detector)”. It is a high-speed and cost-efficient spectroscopic radiation detector or replacement of PRD that enables the placement of a robust and accurate radiation detector in front-line users’ hands.
For the purpose of this report, Emergen Research has segmented the Global Medical Radiation Detection, Monitoring, and Safety Market on the basis of product, detector, application, and region:
Product Outlook (Revenue, USD Billion; 2017-2027)
- Personal Dosimeters
- Active Dosimeters
- Passive Dosimeters
- Environment Radiation Monitors
- Area Process Monitors
- Radioactive Material Monitors
- Surface Contamination Monitors
- Other Medical Radiation Detection and Monitoring Products
Detector Outlook (Revenue, USD Billion; 2017-2027)
- Gas-Filled Detectors
- GM Counters
- Proportional Counters
- Ionization Chambers
- Solid-State Detectors
- Diamond Detectors
- Semiconductor Detectors
- Organic Scintillators
- Inorganic Scintillators
Application Outlook (Revenue, USD Billion; 2017-2027)
- Ambulatory Surgical Centers
Regional Outlook (Revenue, USD Billion; 2017-2027)
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of APAC
- Latin America
- Rest of LATAM
- Middle East & Africa
- Saudi Arabia
- Rest of MEA
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