Global Medical Radiation Detection, Monitoring and Safety Market to Reach $1.1 Billion by 2026

SAN FRANCISCO, July 1, 2021 /PRNewswire/ -- A new market study published by Global Industry Analysts Inc., (GIA) the premier market research company, today released its report titled "Medical Radiation Detection, Monitoring and Safety - Global Market Trajectory & Analytics". The report presents fresh perspectives on opportunities and challenges in a significantly transformed post COVID-19 marketplace.

FACTS AT A GLANCE
Edition: 9; Released: April 2021
Executive Engagements: 1159
Companies: 46 - Players covered include Alpha Spectra Inc; AmRay Group; Arrow Tech Inc; Atomtex Spe; Bar·Ray Products; Bertin Technologies SAS; Biodex Medical Systems, Inc; Centronic ltd; Fluke Biomedical; Landauer; IBA Worldwide; Infab corporation; Lnd, Inc; Ludlum measurements, Inc; Micron Semiconductor Ltd; Mirion technologies, Inc; Nucleonix Systems Pvt Ltd; Polimaster Inc; PTW-Freiburg Gmbh; RadComm Systems; Radiation Detection Company Inc; SCIONIX Holland B.V; S E International Inc; Sun Nuclear Corporation; Thermo fisher scientific, Inc; Trivitron Healthcare Private Limited and Others.
Coverage: All major geographies and key segments
Segments: Product (Personal Dosimeters, Environment Radiation Monitors, Surface Contamination Monitors, Area Process Monitors, Other Detection & Monitoring Products, Safety Products); End-Use (Hospitals, Non-Hospitals)
Geographies: World; USA; Canada; Japan; China; Europe; France; Germany; Italy; UK; Spain; Russia; Rest of Europe; Asia-Pacific; Australia; India; South Korea; Rest of Asia-Pacific; Latin America; Argentina; Brazil; Mexico; Rest of Latin America; Middle East; Iran; Israel; Saudi Arabia; UAE; Rest of Middle East; Africa.

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ABSTRACT-

Global Medical Radiation Detection, Monitoring and Safety Market to Reach $1.1 Billion by 2026

Safety from radiation is critical for staff, physicians, and patients in various medical departments such as surgery, interventional cardiology, and radiology. Radiation that is emanated during fluoroscopic procedures is the reason behind the highest radiation dose that medical staff is exposed to. But radiation from nuclear imaging, mammography, and computed tomography does not contribute much to the overall exposure of healthcare professionals. But any exposure to radiation poses risk to healthcare employees as well as patients. Radiation protection focuses on lowering any unneeded radiation exposure, with an aim to reduce the hazardous impacts of ionizing radiation. In the medical arena, ionizing radiation has emerged to be a widely employed tool for the diagnosis and treatment of a range of medical conditions. With its application increasing, the cumulative doses of radiation which medical personnel and patients receive have also grown. Majority of radiation exposure in the medical field is on account of fluoroscopic imaging, which leverages x-rays to achieve cinematic and dynamic functional imaging. Fluoroscopy finds applications in several specialties such as gastroenterology, vascular surgery, interventional cardiology, interventional radiology, urology, and orthopaedics.

Amid the COVID-19 crisis, the global market for Medical Radiation Detection, Monitoring and Safety estimated at US$884.4 Million in the year 2020, is projected to reach a revised size of US$1.1 Billion by 2026, growing at a CAGR of 4.7% over the analysis period. Personal Dosimeters, one of the segments analyzed in the report, is projected to record a 3.2% CAGR and reach US$313.7 Million by the end of the analysis period. After a thorough analysis of the business implications of the pandemic and its induced economic crisis, growth in the Environment Radiation Monitors segment is readjusted to a revised 5% CAGR for the next 7-year period.

The U.S. Market is Estimated at $306 Million in 2021, While China is Forecast to Reach $103 Million by 2026

The Medical Radiation Detection, Monitoring and Safety market in the U.S. is estimated at US$306 Million in the year 2021. China, the world`s second largest economy, is forecast to reach a projected market size of US$103 Million by the year 2026 trailing a CAGR of 6.2% over the analysis period. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 3.9% and 4% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 4.2% CAGR.

The market is witnessing rapid growth due to the rise in the prevalence and incidence of cancer; growing use of nuclear medicine and radiation therapy for the diagnosis and treatment of cancer; the widespread usage of radioactive isotopes, the feed material for nuclear medicine; increasing awareness regarding the adverse effects of radioactive materials used in radiation therapy, are driving the demand for medical radiation detection, monitoring & safety market. Patients undergoing nuclear medicine procedures are also at risk of exposure to radioactive materials, requiring the healthcare professionals to follow due procedures in dosimetry for optimal dosages. Medical radiation detection, monitoring & safety devices provide the required safeguards for healthcare professionals as well as patients against exposure to radiation, thus enabling a safe environment or treatment with minimal risks. The market is also driven by rise in the number of diagnostic imaging centres and increasing insurance coverage provided for cancer patients.

Surface Contamination Monitors Segment to Reach $163.6 Million by 2026

In the global Surface Contamination Monitors segment, USA, Canada, Japan, China and Europe will drive the 4.2% CAGR estimated for this segment. These regional markets accounting for a combined market size of US$98 Million in the year 2020 will reach a projected size of US$131 Million by the close of the analysis period. China will remain among the fastest growing in this cluster of regional markets. Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach US$18.6 Million by the year 2026, while Latin America will expand at a 6.1% CAGR through the analysis period. More

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Zak Ali
Director, Corporate Communications
Global Industry Analysts, Inc.
Phone: 1-408-528-9966
www.StrategyR.com 
Email: [email protected] 

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