Medical Radiation Detection, Monitoring & Safety Market Size, and Demand Analysis by Product Type (Radiation Detection & Monitoring Products, Safety Products), End User (Hospitals, Non-Hospitals)– Forecast to 2030

Market Overview

The global medical radiation detection, monitoring, & safety market generated revenue of $2,140.8 million in 2021, and the market size will advance at a CAGR of 8.3% during the forecast period, to reach $4,373.8 million by 2030. The high prevalence of cancer, growing geriatric population, increasing number of radio and nuclear diagnostic and therapeutic procedures, and growing number of diagnostic imaging centers are expected to drive the market growth.

During the COVID-19 outbreak, healthcare institutes and providers postponed elective surgical operations and medical tests, in order to reduce disease transmission and conserve healthcare resources for COVID-19 patients. As a result, radiology departments saw a sharp decrease in imaging volume. According to research done by a renowned institute, COVID-19 significantly reduced the usage of imaging facilities. Additionally, practices that rely on outpatient imaging have been badly impacted. However, since the resumption of non-critical medical services, due to the high demand for radiation and nuclear therapy, the situation has steadily improved.

Detectors Category Will Spur Market Growth

Detectors are the highest revenue generators in the market, accounting for $427.0 million revenue in 2021, which is projected to grow at a CAGR of around 9% during the forecast period. The need for medical radiation detection is increasing due to the rising volume of radiographic procedures and improving awareness of the importance of radiation safety among medical personnel. The rising occurrence of cancerdemands radiation therapy, which necessitates the adoption of medical radiation detectors, thus driving the market expansion.

Furthermore, the rising use of nuclear medicine and radiation therapy for the diagnosis and treatment of acute diseases like cancer will help in the growth of the medical radiation detection, monitoring, and safety market in the future.

Personal dosimeters are also seeing significant growth in demand, due to their user-friendliness and advanced features, such as continuous monitoring that provides alarm alerts at pre-set levels and live readings of dosage accumulated. Furthermore, the personal dosimeter market is growing due to the ability of these devices to detect hazardous radiations and protect an individual. Moreover, there is an increase in the usage of radiation mediated technology; thus, the hazardous effects associated with it are mainly predicted to contribute to the growth of the global personal dosimeter market.

Full-Body Protection Equipment Is Most Popular among All Safety Products

In 2021, the full-body protection category accounted for the largest share, of nearly 50%, on segmentation by safety product. This category's substantial share may be ascribed mostly to the increasing number of radiological procedures and rising knowledge among physicians, radiologists, and patients on the dangers of radiation overexposure.

Similarly, the apron market is being driven by an increase in the number of trained radiology technologists, increase in safety awareness, usage of radiation therapy because of the rising incidence of cancer, and recommendations for cancer screening. These factors are expected to offer strong growth opportunities to the full-body protection market over the forecast period. Furthermore, the rising incidence of medical radiation exposure is raising the demand for medical radiation shielding, which is driving the worldwide medical radiation detection, monitoring, and safety market.

Steady Rise in Usage of Radiation Therapy and Nuclear Medicine for Better Diagnosis and Treatment

Nuclear medicine has changed dramatically over the last decade as a result of the developments in radio pharmacy, instrumentation, and information technology. The growing use of nuclear medicine in the diagnosis and treatment of illnesses, such as cancer and cardiovascular ailments, has increased the need for medical radiation detection, monitoring, and safety solutions.

In April 2022, one international agency initiated a program to bridge the large global gap in cancer care. The move primarily addresses a serious lack of cancer treatment capacity in many impoverished nations, with an initial emphasis on Africa, where people frequently die from the disease due to the unavailability of nuclear medicine and radiation, which can be potentially life-saving. This would involve the development of cancer care infrastructure, as well as the training of specialists, health workers, and technicians.

Wide Opportunity in R&D for Technological Advancement

Extensive research is being carried out with the goal of developing new ways for detecting and quantifying radiation exposure during medical procedures. For instance, according to an article, researchers have created a novel X-ray detector prototype that will improve medical imaging by significantly lowering radiation exposure and associated health hazards, while also boosting image resolution in security scanners and research applications.

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Hospitals Category Majorly Stimulates Market Growth

In 2021, the hospitals category accounted for the largest share of the medical radiation detection, monitoring, & safety market, of around 70%. This is owing to the constantly expanding need for medical conventional and nuclear radiation for therapy and diagnosis (including in emergency care and dentistry). Because of the ease in the access to essential equipment and skilled labor, radiation-based procedures can be conducted conveniently at hospitals. Moreover, there is a steady rise in the number of inpatients and outpatients in hospitals, which will only become faster in the coming years. Moreover, the rapid increase in the number of hospitals is bolstering the medical radiation detection, monitoring, and safety solution demand.

Enormous Growth Potential in North America Market

North America held the largest market share over the past few years, and it would grow at a significant CAGR, of 8.6%, during 2021–2030. The region leads the market due to the increasing awareness of the health risks posed by hazardous radiation and a rising frequency of cancer. In the same way, the rising radiation safety awareness and increasing number of radio diagnostic procedures are propelling the medical radiation detection, monitoring, and safety market in the continent.

For instance, in November 2021, during the Annual Meeting of the Radiological Society of North America, Sirona Medical, a software startup, announced its cloud-native radiology operating system (RadOS). Moreover, the same month, Radiaction Medical, a medical equipment company, commenced its U.S. operations with the first demonstration of its radiation shielding system that protects medical teams from dispersed radiation in interventional suites.

To Increase Market Share, Companies Involved in Product Launches and Acquisitions

The global market has several players, who are launching new products and acquiring similar companies, in order to stay ahead of their competitors. For instance:

• In March 2021, Infab LLC launched the 903 Reverse Vest & Skirt, which offers effective scatter radiation protection.
• In January 2021, Mirion Technologies Inc., a provider of radiation detection and measurement solutions, acquired Sun Nuclear Corporation. This acquisition is aimed at enhancing the former’s position in the cancer therapy industry by using the latter’s technological competence, brand equity, and relationship capital.
• In August 2020, ECOTEST Group introduced the RKS-01 STORA-ABG, a small search radiometer–dosimeter with a telescopic tube, for the rapid detection and localization of alpha, beta, gamma, and X-ray sources.

Key Players in Medical Radiation Detection, Monitoring, & Safety Market Are:

• Mirion Technologies Inc.
• Thermo Fisher Scientific Inc.
• Ludlum Measurements Inc.
• IBA Worldwide
• AliMed Inc.
• AmRay Group
• Radiation Detection Company (RDC) Inc.
• Arrow-Tech Inc.

Market Size Breakdown by Segment

The report offers comprehensive market segmentation analysis along with market estimation for the period 2017–2030.

Based on Product Type

• Radiation Detection & Monitoring Products
  • Personal dosimeters
    • Active dosimeters
    • Passive dosimeters
  • Area process monitors
  • Environment radiation monitors
  • Surface contamination monitors
  • Radioactive material monitors
  • Detectors
• Safety Products
  • Full-body protection
    • Barriers and shields
    • Aprons
  • Face Protection
    • Eye wear
    • Face masks
  • Hand Safety
    • Gloves
    • Attenuating sleeves

Based on End User

• Hospitals
  • Radiation therapy
  • Radiology
  • Dentistry
  • Nuclear medicine
  • Emergency care
• Non-Hospitals
  • Imaging centers
  • Radiation therapy and cancer centers
  • Dental clinics
  • Orthopedic facilities

Geographical Analysis

• North America
  • U.S.
  • Canada
• Europe
  • U.K.
  • Germany
  • France
  • Spain
  • Italy
• Asia-Pacific
  • China
  • Japan
  • India
  • Australia
  • South Korea
• Latin America
  • Brazil
  • Mexico
  • Argentina
• Middle East and Africa
  • Saudi Arabia
  • South Africa