Medical Radiation Detection Market

Report Description
Table of Contents

Report Description

The global medical radiation detection market size is estimated to be USD xx billion in 2021 and is expected to witness a CAGR of xx% during the forecast period. Increase in use of radiation therapy and nuclear medicine for diagnosis and treatment is a key driver for the growth of the global medical radiation detection market. Additionally, growing cases of cancer globally and growth in awareness about safety amongst people working in radiation-prone environments are some of the other drivers propelling the market growth. Nevertheless, shortage of expert radiation professionals and qualified medical physicists and stringent safety procedures for use of radiation are expected to restrain the global market growth.

Global Medical Radiation Detection Market Size (USD Billion), 2021-2029

Source: Erevna Healthcare

By Detector Type

Based on detector type, the market is segmented into scintillators, gas-filled detectors, and solid-state detectors. In 2021, the gas-filled detectors segment accounted for the substantial revenue share with lucrative CAGR during the forecast period. This is attributed to positive performance in relation with the cost gas-filled detectors along with their extensive application in the medical imaging field worldwide. Scintillators segment projected to grow at a profitable CAGR during the forecast period. This is attributed to the growing initiatives by various public and private organizations in development of technology for radiation detection.

By Product

Based on product, the market is categorized into area process monitors, personal dosimeters, environmental radiation monitors, surface contamination monitors, radioactive material monitors, and others. In 2021, the personal dosimeters segment accounted for the substantial revenue share with lucrative CAGR during the forecast period. This is due to the widespread application fields of the dosimeters in nuclear power plants, radiation quantity measurements in medical and industrial procedures worldwide. The environmental radiation monitors segment is anticipated to grow at a profitable CAGR during the forecast period, due the launch of new products and technologies in the medical radiation detection market globally.

By Safety Type

Based on safety type, the market is categorized into ace protection products, full-body protection products, hand safety products, and others. In 2021, the full-body protection products segment accounted for the substantial revenue share with lucrative CAGR during the forecast period. This is due to the wide-ranging applications of this safety type in the form of barriers & shields and aprons worldwide. The ace protection products segment is anticipated to grow at a profitable CAGR during the forecast period, due to the requirement for protection in radioactive emission & usage.

By End User

Based on end user, the market is categorized into hospitals and other hospital specialities. In 2021, the hospitals segment accounted for the substantial revenue share with lucrative CAGR during the forecast period. This is due to increase in usage of the dosimeters and detectors for radiology, emergency care, nuclear medicine, dentistry, and therapy purposes worldwide. The other hospital specialities segment is anticipated to grow at a profitable CAGR during the forecast period, due to the growth of interventional applications such as angiography, fluoroscopy, and computed tomography (CT) are expected to encourage the growth.

Regional Insights

In 2021, North America accounted for the highest revenue share in the global market and is expected to maintain its dominance during the forecast period. This is attributed to the favourable reimbursement scenarios, increase in initiatives from government, accessibility of technological advanced products in the region. Asia Pacific market is projected to exhibit the fastest CAGR over the forecast period owing to the less stringent regulations, growing government and corporate investment in healthcare sector, and development of nuclear power hubs such as India & China, are the major factors in this region.

Competitor Insights

Some of the key players in the medical radiation detection market are Fortive Corporation (U.S.); Mirion Technologies, Inc. (U.S.); IBA Worldwide (Belgium); Thermo Fisher Scientific, Inc. (U.S.); Sun Nuclear Corporation (U.S.); Ludlum Measurements, Inc. (U.S.); Polimaster, Inc. (Republic of Belarus); Bertin Instruments (France); Radiation Detection Company Inc. (U.S.); and Biodex Medical Systems, Inc. (U.S.). The leading players operating in the medical radiation detection industry are adopting various strategies including R&D investments, adaption of advanced techniques, new technology launches, mergers & acquisitions, and regional expansions to capture a maximum revenue share.

This exhaustive research report focuses on market size and forecast at global, segmental, regional and country level along with key market trends and dynamics from 2018 to 2026. The medical radiation detection market report is categorized into the following segments and subsegments: