Medical Radiation Detection, Monitoring, and Safety Market Size Is Growing Globally at CAGR of 7.57% to Achieved 4230 Million by 2030

New York, NY, July 21, 2023 (GLOBE NEWSWIRE) -- Zion Market Research has published a new research report titled “Medical Radiation Detection, Monitoring, And Safety Market By Safety Type (Gloves, Face Masks, Aprons, Shields, Face Protection Products, Full-Body Protection Products, And Others), By Product (Radiation Safety Products And Radiation Detection & Monitoring Products), By Detector (Solid-State Detectors, Scintillators, And Gas-Filled Detectors), By End-User (Clinics, Hospitals, Non-Hospitals, Ambulatory Surgical Centers, And Others), And By Region - Global And Regional Industry Overview, Market Intelligence, Comprehensive Analysis, Historical Data, And Forecasts 2023 – 2030” in its research database.

“According to the latest research study, the demand of global Medical Radiation Detection, Monitoring, and Safety Market size & share in terms of revenue was valued at USD 2370 million in 2022 and it is expected to surpass around USD 4230 million mark by 2030, growing at a compound annual growth rate (CAGR) of approximately 7.57% during the forecast period 2023 to 2030.”

What are Medical Radiation Detection, Monitoring, and Safety? How big is the Medical Radiation Detection, Monitoring, and Safety Industry?

Medical Radiation Detection, Monitoring, and Safety Report Coverage & Overview:

Radiation that a person is exposed to in a healthcare setting, such as a hospital or diagnostic center, is collectively referred to as "medical radiation," and it encompasses all of the many kinds of radiation that are used. The scientific community and those in charge of public health around the world have come to the consensus that human health may be negatively impacted, either temporarily or permanently, by exposure to medical radiation produced by specific kinds of medical equipment. Despite this, hospitals and other facilities that provide medical care continue to make use of this equipment since it has proven indispensable to providing high-quality care.

For example, the majority of diagnostic imaging techniques in medicine need the use of equipment that can produce X-ray beams. They are a type of ionizing radiation that assists in the production of a digital film or image of the area of the body that is being examined. Medical practitioners consult this image when attempting to identify patients' illnesses and decide how best to treat them. The medical radiation detection, monitoring, and safety market works toward the goal of ensuring that people, including those working in healthcare as well as patients, are not exposed to radiation at an intensity that is more than what is essential or required.

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Global Medical Radiation Detection, Monitoring, and Safety Market: Growth Dynamics

The growing application of imaging techniques in medicine is expected to boost market expansion.

The increasing number of people undergoing medical imaging treatments is expected to drive growth in the global Medical Radiation Detection, Monitoring, and Safety market. These methods include X-rays, scans using computed tomography (CT), and scans using magnetic resonance imaging (MRI). Because they have demonstrated that they are capable of both detecting and treating a variety of conditions, they have evolved into an essential component of the contemporary healthcare system. A growing number of patients are afflicted with severe medical problems such as cancer and heart disease. They are also utilized to comprehend the internal structure of the body for the purpose of detecting any other abnormalities that may be present.

According to the findings of a study undertaken by Harvard University, almost 80 million CT scans are performed annually in the United States. The findings of the same study also indicated that computed tomography (CT) scans are accountable for almost 24% of all instances of radiation exposure across the country. Because of these concerns, the regional governments have been urged and encouraged to take precautions to ensure that other types of medical radiation and imaging technologies do not become the source of any more fatal diseases.

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Report Scope

Medical Radiation Detection, Monitoring, and Safety Market: Segmentation Analysis

The global medical radiation detection, monitoring, and safety market is segmented based on safety type, product, detector, end-user, and region.

Based on safety type, Gloves, face masks, aprons, shields, facial protection products, full-body protection products, and other types of products make up the various sectors of the global market. It was found that the shields market had the greatest CAGR in 2022, and it is anticipated that this market would continue its growth streak. These shields are normally worn around the neck, and their primary function is to protect the thyroid gland from being exposed to potentially damaging radiation. Studies in nuclear medicine and imaging of the skull are two examples of techniques in which it is utilized. Due to the fact that face masks can be utilized in a variety of imaging procedures, they are an additional substantial revenue producer. It is estimated that around 3.6 million X-rays are performed each year across the world.

Based on product, The medical industry that deals with the detection, monitoring, and safety of radiation is split into two subcategories: radiation safety products and radiation detection and monitoring goods. Radiation safety devices are the type of products that are employed the most frequently because they are utilized in the majority of different kinds of medical facilities. During routine medical procedures, the utilization of these goods or technologies is an essential component in maintaining a risk-free environment for both patients and medical personnel. Because radiation detection and monitoring products are so expensive, their use is restricted to a relatively small number of contexts. The cost of a radiation monitoring system is anywhere from three thousand to thirty thousand dollars, on average.

Based on detector, The global medical radiation detection, monitoring, and safety market can be broken down into three categories: scintillators, gas-filled detectors, and solid-state detectors. Studies suggest that scintillators have more efficiency in terms of gamma-ray interaction when compared to their equivalents, which may lead to increased growth in the scintillators section of the business in 2022. This growth may be reflected in the industry as a whole. On the other hand, gas-filled detectors, and particularly Geiger-Muller (GM) detectors, see a substantial amount of application. For the purposes of this detector, a value of less than 150 counts per minute (CPM) is regarded as acceptable.

Based on end-user, the medical radiation detection, monitoring, and safety industry is divided into clinics, hospitals, non-hospitals, ambulatory surgical centers, and others. The highest growth was registered in the hospitals segment in 2022 led by the growing number of patients admitted to hospitals that were required to undergo medical imaging procedures. As per the American Cancer Society, in 2022, there were around 12,380 new cases of laryngeal cancer.

The global Medical Radiation Detection, Monitoring, and Safety market is segmented as follows:

By Safety Type

• Gloves
• Face Masks
• Aprons
• Shields
• Face Protection Products
• Full-Body Protection Products
• Others

By Product

• Radiation Safety Products
• Radiation Detection & Monitoring Products

By Detector

• Solid-State Detectors
• Scintillators
• Gas-Filled Detectors

By End-User

• Clinics
• Hospitals
• Non-Hospitals
• Ambulatory Surgical Centers
• Others

Browse the full “Medical Radiation Detection, Monitoring, And Safety Market By Safety Type (Gloves, Face Masks, Aprons, Shields, Face Protection Products, Full-Body Protection Products, And Others), By Product (Radiation Safety Products And Radiation Detection & Monitoring Products), By Detector (Solid-State Detectors, Scintillators, And Gas-Filled Detectors), By End-User (Clinics, Hospitals, Non-Hospitals, Ambulatory Surgical Centers, And Others), And By Region - Global And Regional Industry Overview, Market Intelligence, Comprehensive Analysis, Historical Data, And Forecasts 2023 – 2030” Report at https://www.zionmarketresearch.com/report/medical-radiation-detection-monitoring-and-safety-market

Competitive Landscape

Some of the main competitors dominating the global Medical Radiation Detection, Monitoring, and Safety market include - 

• Mirion Technologies
• Thermo Fisher Scientific
• AmRay Medical
• Fluke Biomedical
• Landauer Inc.
• Unfors RaySafe
• Fuji Electric
• Ludlum Measurements
• PTW Freiburg GmbH
• Sun Nuclear Corporation
• Bertin Instruments
• Biodex Medical Systems
• Radiation Detection Company
• Centronic Ltd.
• Radcal Corporation

Key Insights from Primary Research:

• As per the analysis shared by our research analyst, the global medical radiation detection, monitoring, and safety market is estimated to grow annually at a CAGR of around 7.57% over the forecast period (2023-2030)
• In terms of revenue, the global medical radiation detection, monitoring, and safety market size was valued at around USD 2370 million in 2022 and is predicted to grow to around USD 4230 million, by 2030.
• The medical radiation detection, monitoring, and safety market is projected to grow at a significant rate due to the rising use of medical imaging procedures
• Based on safety type segmentation, shields was predicted to show maximum market share in the year 2022
• Based on end-user segmentation, hospitals was the leading segment in 2022
• On the basis of region, North America was the leading revenue generator in 2022

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Key questions answered in this report:

• What is the market size and growth rate forecast for Medical Radiation Detection, Monitoring, and Safety industry?
• What are the main driving factors propelling the Medical Radiation Detection, Monitoring, and Safety Market forward?
• What are the leading companies in the Medical Radiation Detection, Monitoring, and Safety Industry?
• What segments does the Medical Radiation Detection, Monitoring, and Safety Market cover?
• How can I receive a free copy of the Medical Radiation Detection, Monitoring, and Safety Market sample report and company profiles?

Key Offerings:

• Market Size & Forecast by Revenue | 2023−2030
• Market Dynamics – Leading Trends, Growth Drivers, Restraints, and Investment Opportunities
• Market Segmentation – A detailed analysis By Safety Type, By Product, By Detector, By End-User, and By Region
• Competitive Landscape – Top Key Vendors and Other Prominent Vendors

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Regional Analysis:

The implementation of various safety measures will lead to significant expansion in North America.

The presence and implementation of stringent security measures in the healthcare sector that protect patient and healthcare professional safety will lead to North America seeing the largest growth in the global medical radiation detection, monitoring, and safety market. This growth will be driven by the presence of tight security protocols. Because of their larger budgets, hospitals in the United States and Canada are able to invest in additional safety precautions, which in turn enables them to provide higher medical care. In addition, the presence of significant manufacturers, an increasing percentage of critical condition diagnoses, and access to medical reimbursement schemes could all be contributors to the expansion of the region.

During the time period covered by the forecast, it is anticipated that Europe would play the role of the second most important region. Laws have been enacted throughout Europe to safeguard the safety of patients. with instance, the European radiation directive has established limitations on the highest possible radiation dose that a person can be exposed to under normal conditions with the purpose of protecting their health. The numbers for the limitations were derived from a number of international research that were carried out to better comprehend the effect that radiation has on humans. In addition, the expansion of the elderly population and advances in medical technology both contribute significantly to the growth of the region.

By Region

• North America
  • U.S.
  • Canada
  • Rest of North America
• Europe
  • France
  • UK
  • Spain
  • Germany
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Rest of Asia Pacific
• The Middle East & Africa
  • Saudi Arabia
  • South Africa
  • Rest of the Middle East & Africa
• Latin America
  • Brazil
  • Argentina
  • Rest of Latin America

Medical Radiation Detection, Monitoring, and Safety Market: Opportunities

Growing application of nuclear medicine to provide growth opportunities

The rising popularity of nuclear medicine around the world is anticipated to be beneficial to the global medical radiation detection, monitoring, and safety industry. Radioactive chemicals are put to use in the process of diagnosing, investigating, and treating various medical diseases within the context of this branch of medicine. These compounds are referred to as radiopharmaceuticals, and some examples of illnesses that can be treated by nuclear medicine include bone pain, lymphomas, thyroid cancer, hyperthyroidism, and some types of cancer. Terapet, a privately held medical technology business, made the announcement in February 2023 that it had been granted close to CHF 2.3 million. This funding is going to be put toward the commercialization of Qual'scan as well as the development of other nuclear imaging technologies.

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