Global Medical Radiation Detection, Monitoring, And Safety Market To Top Us$ 1.5 Billion By 2031

Market Snapshot

According to Fact.MR, the global medical radiation detection, monitoring and safety market was valued at around US$ 880 Mn in 2020, and is projected to expand 1.7X to top US$ 1.5 Bn by 2031. Increasing use of nuclear medicine and radiation therapy for diagnosis and treatment, growing number of diagnostic imaging centers, rising prevalence of cancer, and increasing number of people covered by insurance are some of the major factors expected to drive market expansion at a CAGR above 6% across the 2021-2031 forecast period.

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Key Points Covered in Medical Radiation Detection, Monitoring and Safety Industry Survey:

• Market Estimates and Forecasts (2016-2031)
• Key Drivers and Restraints Shaping Market Growth
• Segment-wise, Country-wise, and Region-wise Analysis
• Competition Mapping and Benchmarking
• Brand Share and Market Share Analysis
• Key Product Innovations and Regulatory Climate
• COVID-19 Impact on the Medical Radiation Detection, Monitoring and Safety Device Sales and How to Navigate
• Recommendation on Key Winning Strategies

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Medical Radiation Detection, Monitoring and Safety Equipment Demand Analysis from 2016-2020 Vs Future Market Outlook for 2021 to 2031

As per Fact.MR – a market research and competitive intelligence provider, over the last 5 years, the global market for medical radiation detection, monitoring and safety expanded at close to 3% CAGR. In 2020, the market was valued at around US$ 880 Mn.

There are various areas where radiation power has been applied for the benefit of humans, one of them being the medical sector. Numerous benefits availed by patients due to appropriate usage of radiation for improved diagnosis and treatment are evident.

It has become a key part of modern medical treatment, especially in treating cancer. Protection from radiation for doctors, other healthcare professionals, and patients is constantly evolving in the ever-developing modern medical environment.

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Key Market Segments Covered in Medical Radiation Detection, Monitoring and Safety Industry Research

• Radiation and Monitoring Products

  • Personal Dosimeters
  • Area Process Monitors
  • Environmental Radiation Monitors
  • Surface Contamination Monitors
  • Radioactive Material Monitors

• Detector

  • Gas-filled Detectors
  • Scintillators
  • Solid State Detectors

• Safety

  • Full Body Protection
  • Face Protection
  • Hand Protection

• End User

  • Medical Radiation Detection, Monitoring and Safety Systems for Hospitals
  • Medical Radiation Detection, Monitoring and Safety Systems for Clinics
  • Medical Radiation Detection, Monitoring and Safety Systems for Ambulatory Surgical Centers
  • Medical Radiation Detection, Monitoring and Safety Systems for Non-Hospitals

Competitive Landscape

Major players with a prominent share in the market are focusing on expanding their customer base across several end-use industries.

• In 2019, Arktis Radiation Detectors Ltd had developed new flat panel gamma (FPG) detector. This detector will significantly improve the capability of detecting the radioactive materials in various applications.
• In 2020, ECOTEST Group launched new compact search radiometer-dosimeter RKS-01 STORA-ABG with a telescopic tube for quick detection and localization of alpha, beta, gamma and X-ray radiation sources.
• In 2020, The Dosimetry Services Division of Mirion Technologies acquired Dosimetrics GmbH for the development and production of OSL personal radiation dosimeters and dosimetry solutions, including readers, erasers, software, accessories and automation systems.

How are Personal Dosimeters Stimulating Market Growth?

Personal dosimeters are used for various applications such as electronic radiation measuring instruments, automated reader instruments, thermoluminescent dosimeters (TLD), alarm badges, and handheld and portable devices, which is fueling growth.

Increasing number of diagnostic and interventional radiological procedures performed are major factors supporting the growth of this segment.

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