Dublin, Oct. 03, 2024 (GLOBE NEWSWIRE) -- The "Medical Radiation Detection, Monitoring & Safety Market by Product (Personal Dosimeters (Passive Dosimeters)), Safety (Full Body, Face Protection, Hand Safety), Detector (Gas-Filled, Scintillators, Solid-State), End User - Global Forecast to 2029" report has been added to ResearchAndMarkets.com's offering.
The value of the global medical radiation detection, monitoring & safety market, estimated at around USD 1.26 Billion in 2024, is expected to reach USD 1.89 Billion in 2029, growing at a CAGR of 8.5%
This report covers a detailed analysis of the factors impeding and driving the growth of the medical radiation detection, monitoring & safety market. Drivers, opportunities, challenges, and restraints have been studied in detail. In-depth analysis regarding the major industry players is provided, covering business overview, products offered, major strategies, acquisitions and partnerships, and recent developments related to the medical radiation detection, monitoring & safety. The study reveals the competitive landscape of emerging medical radiation detection, monitoring, & safety startups.
Further development of the PET-CT and MRI technologies in the form of increasing functionality has started their use beyond traditional diagnostic use for treatment planning and real-time monitoring during the intervention. Consequently, this fuels a demand for radiation detection and monitoring devices that could accurately assess this new density of these applications in their various medical fields.
Further development of hybrid imaging modalities-such as the PET-CT-allows at least the feasibilities of combining functional with anatomic imaging. These advanced imaging modalities are also increasingly used for more advanced diagnosis and treatment planning in oncology, cardiology, and neurology. Radiation detection and safety have become highly sought-after needs due to this fact.
The personal dosimeter segment accounted for the highest CAGR of the medical radiation detection, monitoring & safety market in 2023, by product.
Based on products, the segmentations of the medical radiation detection, monitoring & safety market are Personal Dosimeters, Area Process Monitors, Environment Radiation Monitors, Surface Contamination Monitors, Radioactive Material Monitors, and Other Radiation Detection and Monitoring Products.
Many countries have regulations related to safety standards that make the practical usage of personal dosimeters compulsory for every worker working in an environment where radiation exposure may occur. Thus, because of such regulations, the demand for personal dosimeters is high in healthcare institutions. Electronic or intelligent dosimeters can be developed with real-time dosimeter monitoring, increasing the beneficial functionality and appeal of the dosimeter technologies. These items allow for better, more accurate, and timely data regarding radiation exposure, which stimulates their adoption.
The gas filled detectors are projected to witness the highest growth rate in the medical radiation detection, monitoring & safety market, by detector, during the forecast period.
Based on detector, the segments included in the medical radiation detection, monitoring & safety market are Gas-Filled Detectors, Scintillators, and Solid-State Detectors. Medical Imaging and Radiation Therapy technologies are continuously improving and new ones are emerging very rapidly, thus boosting the surging demand for effective radiation detection.
Gas-filled detectors monitor the radiation levels within an imaging system or treatment facility for the safe operations of such technologies. The integration of gas-filled detectors into EHR and digital health systems can enhance their functionality and appeal. This will also pave the way for improving data management and real-time monitoring.
The full body protection segment accounted for the largest market share of medical radiation detection, monitoring & safety market, in 2023, by safety product.
Based on safety products, the medical radiation detection, monitoring & safety market is divided into Full body protection products, Face protection products, Hand safety products, and Other medical radiation safety products. Growing health infrastructure in emerging markets propels demand for radiation protection products.
As more diagnostic centers and hospitals open, there is a proportional demand for protective gear to take good care of the safety of the employees who work with radiation. The expansion of interventional radiology procedures, normally with more than average exposure to radiation, further raises the demand for efficient protective equipment. Full-body aprons are required in order to protect professionals during such procedures.
The hospitals segment is projected to witness the highest growth rate in the medical radiation detection, monitoring & safety market, by end-user, during the forecast period.
By end user, the market for medical radiation detection, monitoring & safety is segmented into hospitals, and non-hospitals. Growth and upgrading of hospital infrastructure across many countries involved in setting up new hospitals while restructuring the old ones propels the demand for advanced systems of medical radiation.
Additionally, new facilities are installed with cutting-edge imaging, along with systems for radiation therapy. Initiative by and funding from governments aimed at upgrading healthcare infrastructure and increasing access to advanced medical interventions. Technologies boost hospital investments in medical radiation equipment. These initiatives often involve subsidies, grants, and other incentives aimed at upgrading medical facilities.
The Asia Pacific region is projected to witness the highest growth rate in the medical radiation detection, monitoring & safety market during the forecast period.
The global medical radiation detection, monitoring & safety market is covered under six regions namely North America, Europe, Latin America, Asia Pacific, the Middle East & Africa, and GCC Countries. The growth rate of medical radiation detection, monitoring & safety market is expected to be highest in the Asia Pacific region during the forecast period, due to presence of emerging economies like Japan, India, and China.
This is anticipated to provide huge growth opportunities for players operating in the market, further expected to witness the highest CAGR during the forecast period. Government initiatives towards creating more awareness about early diagnosis of diseases and regular health check-ups, along with rising healthcare expenditure, increased number of hospitals and clinical diagnostic laboratories, and growing awareness about the radiation exposure are some of the major factors which drive the growth of the medical radiation detection, monitoring & safety market in the Asia Pacific.
The report provides insights on the following pointers:
- Analysis of key drivers: (Growing adoption of diagnostic imaging procedures, Booming cancer cases worldwide, Increasing safety awareness in radiation-prone environments, Rise in number of surgeries, Surge in positron emission tomography and computed tomography scans, Favorable government initiatives), challenges (high installation and maintenance costs, High cost of lead for manufacturing radiation safety products), opportunities (Expanding healthcare infrastructure in emerging economies) and restraints (High cost of devices, Lack of skilled professionals)
- Product Development/Innovation: Detailed insights on research & development activities and new product launches in the overall medical radiation detection, monitoring & safety market.
- Market Development: Comprehensive information about lucrative markets - the report analyses the medical radiation detection, monitoring & safety market across varied regions.
- Market Diversification: Exhaustive information about untapped geographies, recent developments, and investments in the medical radiation detection, monitoring & safety market
- Competitive Assessment: In-depth assessment of market shares, growth strategies, and service offerings of leading players like Mirion Technologies, Inc. (US), Fortive (US), Thermo Fisher Scientific Inc. (US), IBA Worldwide (Belgium), among others, in the medical radiation detection, monitoring & safety market strategies.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 425 |
| Forecast Period | 2024 - 2029 |
| Estimated Market Value (USD) in 2024 | $1.26 Billion |
| Forecasted Market Value (USD) by 2029 | $1.89 Billion |
| Compound Annual Growth Rate | 8.5% |
| Regions Covered | Global |
Companies Featured
- Fortive
- Mirion Technologies, Inc.
- Thermo Fisher Scientific Inc.
- Iba Worldwide
- Ametek Inc.
- Fuji Electric Co. Ltd.
- Ludlum Measurements, Inc.
- Alimed
- Uab Polimaster Europe
- Arktis Radiation Detectors Ltd.
- Infab LLC
- Amray Group
- Radiation Detection Company
- Arrow-Tech, Inc.
- Centronic
- S.E. International, Inc.
- Atomtex
- Bertin Technologies
- Alpha Spectra, Inc.
- Trivitron Healthcare
- Micron Semiconductor Ltd.
- Burlington Medical
- Nucleonix Systems
- Radcomm Systems
For more information about this report visit https://www.researchandmarkets.com/r/z0u8u2
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