Medical Radiation Detection Market to Grow with a CAGR of 7.18 % through 2028
Increasing prevalence of cancer is expected to drive the Global Medical Radiation Detection Market growth in the forecast period, 2024-2028.
According to TechSci Research report, “Medical Radiation Detection Market – Global Industry Size, Share, Trends, Competition Forecast & Opportunities, 2028”, the Global Medical Radiation Detection Market stood at USD 950.14 million in 2022 and is anticipated to grow with a CAGR of 7.18 % and is expected to reach USD 2458.13 million through 2028. The use of medical imaging technologies such as X-rays, and CT scans are increasing, which, in turn, increases greater demand for radiation detection to ensure that patients and healthcare workers are not exposed to excessive radiation doses. According to the World Health Organization (WHO), cancer is one of the leading causes of death worldwide. In 2020, there were an estimated 19.3 million new cases of cancer and 10 million cancer-related deaths worldwide. This is further influencing the demand for radiotherapy treatment and diagnostic devices. The devices emit radiation which in turn propels the demand for detection devices.
The devices used for medical radiation detection, monitoring and safety lower the effects of hazardous radiation. Medical radiation detection & monitoring is permitted to monitor the workplace conditions and individual exposures to assure safe radiological conditions in the workplace such as imaging centers and hospitals. Governments around the world have recognized the potential risks associated with medical radiation exposure and have implemented policies and guidelines to regulate its use.
The increased demand for medical imaging has also led to an increased need for medical radiation detection devices. Healthcare workers are at risk of radiation exposure during imaging procedures, and the use of detection devices can help monitor and limit their radiation exposure. The pandemic has also led to changes in the way medical imaging procedures are performed. To reduce the risk of COVID-19 transmission, many healthcare facilities have implemented new protocols, such as using portable X-ray machines and limiting the number of healthcare workers in the room during imaging procedures. These changes have increased the need for portable and handheld medical radiation detection devices that can be used in a variety of settings.
The increasing number of nuclear power facilities across the world is resulting in the increased demand for radiation monitoring equipment. The by-products of these power plants can be used in the healthcare industry. Incidentally, hospitals are promoting the installation of diagnostic radiology equipment, accompanied by using medical isotopes that are administered to patients.
The Global Medical Radiation Detection Market is segmented into Type, Product, End User, regional distribution, and company.
Based on Type, the Gas-filled Detector segment has emerged as the predominant market leader, the segment will continue to grow at a significant rate during the forecast period. As-filled detectors are highly sensitive to ionizing radiation and can detect very low levels of radiation, making them ideal for use in environments where radiation levels need to be monitored carefully. Additionally, gas-filled detectors are able to detect a wide range of radiation types, including alpha particles, beta particles, gamma rays, and X-rays, which makes them versatile and suitable for use in a variety of applications.
Based on End Use, Hospitals segment is expected to grow during the forecast period. This segment's growth is mostly due to increasing geriatric population and an increase in chronic diseases, there is a growing demand for medical imaging procedures, such as X-rays, CT scans, and PET scans. As per the estimates of the United Nation in 2019 approximately 703 million people globally were more than 65 years aforementioned factor is driving the market. Medical radiation detectors are essential in these procedures to ensure that patients receive the correct amount of radiation and to prevent overexposure.
Major companies
operating in Global Medical Radiation Detection Market are:
- Thermo Fisher Scientific, Inc.
- UAB Polimaster Europe.
- PTW Freiburg GmbH.
- ATOMTEX.
- Sanlar imex services private limited.
- LANDAUER.
- Mirion Technologies, Inc.
- MP BIOMEDICALS.
- SIERRA RADIATION DOSIMETRY SERVICE, INC.
- IBA Dosimetry GmbH.
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“The market is constantly driven by regulatory requirements and evolving customer needs. The increased use of radioactive materials in areas such as power production, industrial processing, research and processing, and the security sector intensified the need for equipment offering protection against radioactive radiation. The occurrence of incidents, such as the disaster at the Fukushima Dai-Ichi nuclear plant, has emphasized the need for safety, environmental sustainability, and regulatory compliances. Radiation-testing equipment manufacturers need to adhere to all the standards mentioned by the regulatory bodies. There is a huge demand for skilled radiation professionals in the radiation monitoring and safety market. However, there has been a lack of personnel due to the high risks associated with the harmful radiation and the lack of proper skills related to the industry.,” said Mr. Karan Chechi, Research Director with TechSci Research, a research-based management consulting firm.
“Medical Radiation Detection Market By Type (Gas-filled Detector, Scintillators), By Product (Personal Dosimeters, Area Process Dosimeters), By Tip (Tipples, With Tip), By End User (Hospitals, Specialty Clinics, Ambulatory Surgical Centers, Others), By Region, By Competition Forecast & Opportunities, 2018-2028”, has evaluated the End-use (Hospitals, Ambulatory Surgical Centers, Diagnostic Imaging Centers, Homecare) future growth potential of Global Medical Radiation Detection Market and provides statistics & information on market size, structure and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities in Global Medical Radiation Detection Market.
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