Medical Radiation Detection, Monitoring, and Safety Market by Detector Type (Gas-filled Detectors, Scintillators, and Solid-state Detectors), Product-Detection and Monitoring (Personal Dosimeters, Area Process Monitors, Environmental Radiation Monitors, Surface Contamination Monitors, and Others), Product-Safety (Full-body Protection Products, Face Protection, Hand Safety Products, and Others), and End User (Hospitals, Diagnostics, and Imaging Centers): Global Market Size Estimates and Forecast (2022-2030)

Code: BMIRE00026454 | Pages: 100 | Industry: Medical Device | Date: Sep 2022 | Type: Global

The market crossed US$ 1.40 billion mark in 2022 and is expected to hit US$ 2.40 billion by 2030, recording a CAGR of 6.9% during the forecast period.

Rising usage of radiation therapy as well as nuclear medicine for diagnosis and treatment purposes will drive the market growth.

Increasing prevalence of cancer, rising awareness about use of radiation therapy to treat diseases, and favorable reimbursement policies are other factors that drive growth of medical Radiation Detection, Monitoring, and Safety Market. Nuclear medicine practices have witnessed a tremendous transformation during the past decade owing to advances in radiopharmacy, instrumentation, and IT. The increasing usage of nuclear medicine to diagnose and treat various diseases such as cancer and cardiovascular disorders has surged the demand for radiation detection, monitoring, and safety devices. 42.7 million imaging tests were registered in England, as per NHS England, thus, the market is expected to witness a significant growth during the forecast period. Moreover, the gas-filled detectors segment is expected to grow during the forecasted year owing to the favorable performance-to-cost ratio of gas-filled detectors and their wide applications in the medical imaging field. Also, their growing application in Geiger-Muller counters, ionization chambers, and proportional chambers. In addition, these detectors are budget friendly with a range of applications and various sizes, as well as these detectors are portable, durable, user-friendly, and economical.

Within the report, the medical Radiation Detection, Monitoring, and Safety Market market is segmented into detector type, product-detection and monitoring, product-safety, end user, and geography. By detector type, the market is further segmented into gas-filled detectors, scintillators, and solid-state detectors. On the basis of product-detection and monitoring, the market is segmented into personal dosimeters, area process monitors, environmental radiation monitors, surface contamination monitors, and others. By product-safety, the market is categorized into full-body protection products, face protection, hand safety products, and others. Based on end user, the medical Radiation Detection, Monitoring, and Safety Market market is divided into hospitals, diagnostics, and imaging centers. Geographically, the market is sub segmented into North America, Europe, Asia Pacific, South & Central America, and Middle East & Africa.

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Personal dosimeters segment holds the largest share of the medical radiation detection, monitoring, and safety market.

Radiation through fluoroscopic actions is a major factor for high amount of radioactivity quantity that medical staff is exposed to. Exposure to radiation poses a risk to healthcare employees as well as patients. Radiation protection focuses on reducing any unnecessary radiation exposure and intending to decrease the unsafe impacts of ionizing radiation. Radiation detection, monitoring, and safety products minimize the effects of harmful radiation. Moreover, personal dosimeters will grow significantly in the forecast period as these are used for various applications such as electronic radiation measuring instruments, automated reader instruments, alarm badges, handheld and portable devices. Additionally, rising number of diagnostic and interventional radiological procedures performed and growing awareness about the need for radiation protection among medical professionals are some factors propelling the growth of the segment.

 

Effect of COVID-19 and growing R&D for technological advancement.

During the COVID-19 pandemic, healthcare institutes and professionals were instructed to delay/ cancel elective surgical procedures and medical examinations to slow disease transmission. As a result, many radiology departments experienced a rapid decline in imaging case volume. For instance, a study conducted by Harvey L. Neiman Health Policy Institute between January 2019-April 2020, published in the Journal of the American College of Radiology (JACR), states that the imaging case volume decreased drastically during the pandemic and the decrease varied by location and by modality type, with the most significant declines observed in mammography (94%), nuclear medicine (85%), MRI (74%), ultrasound (64%), interventional radiology (56%), and others. However, the situation is slowly recovering, and extensive research is being conducted in premier institutes, with a focus on the development of new techniques for detecting and measuring radiation exposure during medical procedures. Researchers at the Los Alamos National Laboratory and Argonne National Laboratory developed a new X-ray detector prototype, which revolutionize medical imaging with a considerable reduction in radiation exposure and related health risks as well as improving resolution in security scanners and research applications, according to an article published at Eureka Alert in April 2020.

 

Recent strategic developments in medical radiation detection, monitoring, and safety market

The medical radiation detection, monitoring, and safety market has undergone several significant developments, and a few of these have been mentioned below:

  • In December 2020, Mirion Technologies, Dosimetry Services Division, acquired Dosimetrics GmbH in Munich, Germany. Dosimetrics is a leader in the development and production of OSL personal radiation dosimeters and dosimetry solutions, including readers, erasers, software, accessories, and automation systems. Dosimetrics expanded and broaden Mirion's dosimetry product and service offerings.
  • In June 2021, Mirion Technologies Inc. became a publicly traded company through a business combination with GS Acquisition Holdings Corp II. The deal with GS Acquisition Holdings Corp. II was supported by private investment in public equity (PIPE) of US$ 900 million from investors such as Fidelity Management & Research Company LLC, BlackRock, Neuberger Berman funds, and Janus Henderson Investors.

 

The medical radiation detection, monitoring, and safety market is driven by several players by implementing strategic activities such as investments, new launches, mergers & acquisitions, and partnerships. S.E. International, Inc.; Mirion Technologies, Inc.; ThermoFisher Scientific Inc.; Radiation Detection Company; Polimaster Ltd.; Canberra Industries Inc.; and Arrow-Tech, Inc. are among the prominent players operating in the market.

Target audience for the report:

  • Raw material manufacturers
  • Service providers
  • Government bodies, such as regulating authorities and policy makers
  • Venture capitalists, private equity firms, and start-up companies
  • Distributors and resellers of medical radiation detection, monitoring and safety products
  • Small and Medium-sized Enterprises (SMEs)
  • Market research, R&D companies, and consulting companies
  • Market-related associations, organizations, forums, and alliances
  • Medical radiation detection, monitoring, and safety key stakeholders and end-users.

Scope of the report:

In this report, the market has been segmented on the basis of:

  • Detector Type:
    • Gas-filled Detectors
    • Scintillators
    • Solid-state Detectors
  • Product-Detection and Monitoring:
    • Personal Dosimeters
    • Area Process Monitors
    • Environmental Radiation Monitors
    • Surface Contamination Monitors
    • Others
  • Product-Safety:
    • Full-body Protection Products
    • Face Protection
    • Hand Safety Products
    • Others
  • End User:
    • Hospitals
    • Diagnostics, and Imaging Centers
  • Region
    • North America
    • Europe
    • Asia Pacific (APAC)
    • South & Central America
    • Middle East & Africa
  • Companies profiled
    • S.E. International, Inc.
    • Mirion Technologies, Inc.
    • ThermoFisher Scientific Inc.
    • Radiation Detection Company
    • Polimaster Ltd.
    • LND, INC
    • Fortive
    • Canberra Industries Inc.
    • Infab, LLC
    • Arrow-Tech, Inc.

Companies profiled
- S.E. International, Inc.
- Mirion Technologies, Inc.
- ThermoFisher Scientific Inc.
- Radiation Detection Company
- Polimaster Ltd.
- LND, INC
- Fortive
- Canberra Industries Inc.
- Infab, LLC
- Arrow-Tech, Inc.

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