The global medical radiation detection, monitoring & safety market was valued at USD 1.2 billion in 2021 and it is anticipated to grow up to USD 2.0 billion by 2031, at a CAGR of 5.5% during the forecast period.
Global Medical Radiation Detection, Monitoring & Safety Market report from Global Insight Services is the single authoritative source of intelligence on Medical Radiation Detection, Monitoring & Safety Market. The report will provide you with analysis of impact of latest market disruptions such as Russia-Ukraine war and Covid-19 on the market. Report provides qualitative analysis of the market using various frameworks such as Porters’ and PESTLE analysis. Report includes in-depth segmentation and market size data by categories, product types, applications, and geographies. Report also includes comprehensive analysis of key issues, trends and drivers, restraints and challenges, competitive landscape, as well as recent events such as M&A activities in the market.
Medical radiation detectors are a type of medical equipment that detects the presence of radiation. When a person is exposed to radiation for a considerable length of time, an individual is more prone to develop a number of deadly diseases. This raises the requirement for technology capable of detecting the amount of radiation accumulating in the body. Some of the key detectors for detecting radioactive materials and ionizing radiation include the handheld survey meter (HSM), personal radiation detector (PRD), radiation portal monitor (RPM), and radiation isotope identification device (RIID). As technology advances, various radiation-detecting devices may become available for use at home. Dosimeters are medical radiation detectors that can detect Gamma rays, the most dangerous external radioactive threat.
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Market Trends and Drivers
Increasing use of nuclear medicine and radiation therapy for diagnosis and treatment will boost the industry progression. During the past decade, nuclear medicine practices have undergone a tremendous transformation owing to advances in radiopharmacy, instrumentation, and IT. The increasing usage of nuclear medicine in diagnosing and treating various diseases such as cancer and cardiovascular disorders has boosted the demand for radiation detection, monitoring, and safety devices. According to NHS England, 42.7 million imaging tests were registered in England in March 2018, compared to 42.1 million in 2017, an increase of 1.4%. such aforementioned factors will positively influence the market growth.
Market Restraints and Challenges
Stringent regulatory requirements may hinders the market growth to some extent. Each country has a standard set of regulations for medical radiation, which are defined by regulatory bodies/departments. For example, the US Department of Labor has defined standards through the Nuclear Regulatory Commission (NRC), International Commission on Radiological Protection (ICRP), National Council on Radiation Protection (NCRP), Food and Drug Administration (FDA), and the US Department of Energy (DOE) for protection against radiation. These departments have implemented several guidelines for the approval of medical radiation detection, monitoring, & safety products. However, these stringent regulations extend the timelines involved in the product approval process.
Global Medical Radiation Detection, Monitoring & Safety Market Segmental Overview
The report analyses the global medical radiation detection, monitoring & safety market based on product, detection type, end-user, and region.
Global Medical Radiation Detection, Monitoring & Safety Market by Product
Based on product, it is segmented into personal dosimeters, area process dosimeters, surface contamination monitors, and others. Among these, the personal dosimeters segment captured the largest market share in 2021. This growth is attributed to the wide-ranging applications of the dosimeters in nuclear power plants, radiation dose measurements in medical and industrial processes. In addition, the availability of advanced instruments, such as, automated reader instrument, electronic radiation measuring instrument, alarm badges, thermo luminescent dosimeters (TLD), and handheld and portable devices are propelling the growth of this sector over the forecast period. Moreover, increasing threat of nuclear attacks and technological advancements, such as, optically stimulated luminescence (OSL), that provide higher accuracy for measurement of low levels of radioactivity. The overall increase in the product uptake witnessed as a result of the expansion of the current product portfolio in the companies is expected to push forward the growth of the product segment.
Major Players in the Global Medical Radiation Detection, Monitoring & Safety Market
The key players in the market are Fortive (US), Mirion Technologies, Inc. (US), Thermo Fisher Scientific Inc. (US), Ludlum Measurements, Inc. (US), IBA Worldwide (Belgium), AliMed, Inc. (US), Polimaster Ltd. (Republic of Belarus), AmRay Group (Ireland), Infab, LLC (US), Burlington Medical (US), and Bertin Instruments (France), among others.
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