Medical Radiation Detection, Monitoring and Safety Market size was valued USD 1.0 billion in 2021 and is estimated to reach USD 1.6 million by 2029, growing at a CAGR of 6.7% during the forecast period (2022-2029). With the rising prevalence of cancer worldwide, diagnostic centers have started adopting the use of radiation therapies and nuclear medicines. These therapies release radioactive radiation, which is harmful to health and needs proper medical radiation detection, monitoring, and safety devices to radiation the environment's mediation. The radiation detection, Monitoring and Safety devices are mostly used in hospitals, ambulatory surgical centers (ASCs), and cancer centers.
As per DataM Intelligence, Medical Radiation Detection, Monitoring and Safety Market study analysis offers an in-depth outlook on the market containing quantitative and qualitative data. It gives an outlook and forecast of the global market based on market segmentation. It also provides global Medical Radiation Detection, Monitoring and Safety Market size, and growth, along with the latest trends, opportunities, and forecast till 2029 for the global market with esteem to major countries such as the United States, Canada, Brazil, Germany, Italy, Spain, United Kingdom, Russia, European countries, United Arab Emirates, Saudi Arabia, South Africa, Japan, China, India, South Korea, Australia, and rest of the countries over the globe.
Among all regions, the North American region is expected to hold the largest share of the global market over the forecast period. Medical Radiation Detection, Monitoring and Safety Market in the United States and Canada produces the utmost share. Whereas the European Medical Radiation Detection, Monitoring and Safety Market is projected to continue its presence globally during the period of 2022- 2029.
Medical Radiation Detection, Monitoring and Safety Market Scope
By Detector Type, By Detection & Monitoring Products, By Safety Products, By End-Users, and By Region
Report Insights Covered
Competitive Landscape Analysis, Company Profile Analysis, Market Size, Share, Growth, Demand, Recent Developments, Mergers and acquisitions, New Product Launches, Growth Strategies, Revenue Analysis, and Other key insights.
Fastest Growing Region
Largest Market Share
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The medical radiation detection, Monitoring and Safety market growth are majorly driven by the increasing use of radiation therapy and nuclear to diagnose various diseases.
Increasing use of radiation therapy and nuclear to diagnose various diseases are expected to drive market growth.
For instance, as per the World Nuclear Association, as of May 2020, over 40 million nuclear medicine procedures are performed annually, and the demand for radioisotopes is growing at a rate of 5%. Nearly 10,000 hospitals across the globe use them radioisotopes globe. In the US alone, annually, more than 20 million nuclear medicine procedures are performed. North America dominates the diagnostic radioisotopes market and accounts for half of the market share followed by Europe.
Besides, the rising number of cancer cases, an increase in the number of diagnostic imaging centers, and increasing safety awareness among people boost the market's growth. For instance, several different types of cancer are characterized by abnormal cell growth. According to WHO, the probability of developing cancer before age 75 is 14.4% in males and 15.0% in females. Based on data from 2013-2015, around 38.4% of men and women are diagnosed with cancer at some point during their lifetimes. As per the National Cancer Institute, the most common cancers (2018) are lung, breast cancer, prostate cancer melanoma of the skin, colon and rectum cancer, bladder cancer, non-Hodgkin lymphoma, kidney, and renal pelvis cancer, endometrial cancer, leukemia, pancreatic cancer, thyroid cancer, and liver cancer. Also, according to the National Cancer Institute, about 57% of new cancer cases in 2012 occurred in developing regions including Central America and parts of Africa and Asia; 65% of cancer deaths also occurred in these regions.
Lack and unavailability of skilled professionals, stringent regulation is expected to hamper the market growth.
However, the lack and unavailability of skilled professionals, stringent regulation compliance appliances for safety for radiation use, and delay in product approvals the government's stringent regulations government are factors hindering the market growth. The number of well-trained and competent medical physicists is still short of the desired requirement. According to the American Board of Radiology (ABR), between 2008 and 2010, on average, 177 medical physicists per year were given board certificates. In 2016, the number decreased below 200 to 196, and in 2017, it reached 155. The UK is also facing a shortage of radiologists. As per the Royal College of Radiologists (RCR), there is a shortage of at least 1,100 radiologists in the country in 2019.
COVID-19 pandemic has impacted healthcare services globally. Many countries globally have seen non-urgent diagnostic imaging surgeries being postponed due to the pandemic. The American College of Radiation supports guidelines suggested by the CDC that advises medical facilities to reschedule non-urgent outpatient visits. Non-urgent procedures include non-urgent imaging and fluoroscopy procedures, such as screening mammography, lung cancer screening, non-urgent computed tomography (CT), ultrasound, magnetic resonance imaging (MRI), plain film X-ray exams, and other non-emergent or elective radiologic and radiologically guided exams and procedures.
The global medical radiation detection, Monitoring and Safety market provides in-depth analysis of the market based on various industry factors such as Porter’s Five Forces, Regulatory and Reimbursement Analysis, Supply Chain Analysis, Pricing Analysis, Technological Trends & Advancements, Epidemiology and Unmet Needs.
Full-body protection segment is expected to hold the largest market share in global medical radiation detection, Monitoring and Safety market
Based on safety products, the full-body protection segment accounted for the largest share of the medical radiation safety market in 2021. Medical radiation safety products include hand safety, full-body protection, face protection, and others. The full-body Protection segment accounted for the largest market share in 2021, owing to the increasing number of radiological procedures performed and rising awareness among physicians, radiologists, and patients. The extensive applications of full-body protection safety products such as aprons, barriers & shields lead to a higher adoption rate. The prices associated with the mobile lead barrier ranges from US$ 5,260 to US$ 7,820. On the other hand, the hand and face protection safety products are expected to grow significantly over the forecast period, due to the rising need for safety in radioactive emission & usage.
North America region holds the largest market share in the global medical radiation detection, Monitoring and Safety market
North America region is dominating the global medical radiation detection, Monitoring and Safety market accounting for the largest market share in 2021, owing to increasing awareness about radiation safety, a rising number of radio diagnostic procedures performed, and growing research and development of advanced radiation detection, monitoring, and safety products. Besides, due to the rising prevalence of cancer globally, diagnostic centres have adopted the use of radiation therapies and nuclear medicines. In the United States, colorectal cancer is the third leading cause of cancer-related deaths in men and women, and the second most common cause of cancer deaths combined globally. It is expected to about 106,180 new cases of colon cancer, 44,850 new cases of rectal cancer during 2022. he diagnosed incident colorectal cancer cases are expected to increase by 27.3% to 672,400 cases by 2037. In Mexico, cancer currently is one of the largest challenges in public health. According to the Cancer Statistics Center, there were 11,030 new cases were estimated in Mexico in 2022.
The medical radiation detection, Monitoring and Safety market is highly fragmented and consists of a large number of players. Some of the key players which are contributing to the growth of the market are Fortive Corporation, Mirion Technologies, IBA Worldwide, Thermo Fisher Scientific, Sun Nuclear Corporation, Bertin Instruments, Radiation Detection Company Inc, Biodex Medical Systems, Inc, Centronic Ltd, Ludlum Measurements, Inc among others. The major players are adopting several growth strategies such as product launches, acquisitions, and collaborations, which are contributing to the growth of the medical radiation detection, Monitoring and Safety market globally. For instance,
In May 2019, Kromek had launched a new D3S SPRD (spectroscopic radiation detector) Personal Radiation Detector. It is palm size and a very cost-effective radioactive detection device. It can be connected and displayed on the mobile phone which makes it more effective. This product launch had expanded the product portfolio of the company.
In March 2019, Arktis Radiation Detectors Ltd had developed new flat panel gamma (FPG) detector. This detector will significantly improve the capability of detecting radioactive materials in various applications. These developments in the product have seen a positive response from their customers and have increased their sales and have expanded the customer base.
In March 2019, Thermo Fisher Scientific launched a new dosimetry monitoring service that enables medical and imaging facilities, dental offices, veterinary clinics, nuclear power plants, laboratories, and other facilities with radiation safety requirements to streamline the management of their safety programs.
In 2019, IBA Worldwide launched my iON, offering a unique environment for fast and precise cancer patient QA in proton therapy.
Global Medical Radiation Detection, Monitoring and Safety Market – Key Companies to Watch
Overview: Fortive is an American diversified industrial technology conglomerate company headquartered in Everett, Washington. Fortive was spun off from Danaher in July 2016. Mitchell Rales and Steven M. Rales, Danaher's founders, retained board seats with Fortive after the separation.
Colposcope CARL ZEISS KSK 150 FC: The Zeiss KSK is mobile colposcope that is equipped with video track for clear imaging and observation. It gives a proper and clear view of vulva, vagina and cervix. It supports illumination and magnification.
Key Developments: In 2019, ZEISS acquired Brunswick based GOM.
The global medical radiation detection, Monitoring and Safety market report would provide an access to an approx. 45+market data table, 40+figures and 180pages.
What is the Projected CAGR value of the Medical Radiation Detection, Monitoring and Safety Market ?
Functional Pet Food Market is expected to grow at a CAGR of 6.7% during the forecasting period 2022-2029.
Which region controlled the global market during 2022-2029?
North America region Controls the Medical Radiation Detection, Monitoring and Safety Market during 2022-2029
Which is the fastest growing region in the Medical Radiation Detection, Monitoring and Safety Market ?
Among all regions, Asia Pacific is the fastest growing market share during the forecast period
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