Medical Radiation Detection Market $1,215.4 million | Growth Drivers, Segmentation & Major Key Players

PUNE, India, 2020-Jun-29 — /EPR Network/ —

[189 Pages Report] The Global Medical Radiation Detection Market is expected to reach USD 1,215.4 million, at a CAGR of 6.5% during the forecast period.

Market Growth Driver:

Increasing Usage of Nuclear Medicine and Radiation Therapy for Diagnosis and Treatment;

According to the World Nuclear Association, as of December 2016, more than 10,000 hospitals across the globe used radioisotopes in medical procedures, and about 90% of these procedures were for diagnostic purposes. Approximately 50 to 55 million nuclear medicine procedures are performed annually worldwide. In the U.S. alone, annually, more than 20 million nuclear medicine procedures are performed among 311 million people and in Europe, about 10 million nuclear medicine procedures are performed among 500 million people. The World Nuclear Association also reports that North America dominates the diagnostic radioisotopes market and accounts for ~50% of the market share; the U.S. is the largest contributor to the North American diagnostic radioisotopes market, followed by Europe which accounts for ~20% of the share.

During the past decade, nuclear medicine practices have undergone a tremendous transformation owing to the remarkable advances in radiopharmacy, instrumentation, and information technology. The increasing usage of nuclear medicine in diagnosis as well as in the treatment of various diseases such as cancer and cardiovascular disorders has boosted the demand for radiation detection, monitoring, and safety devices.

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Market Segmentation in Detailed:

The personal dosimeters segment is accounted for the largest share of the market during the forecast period

On the basis of product, the medical radiation detection and monitoring market is segmented into personal dosimeters, area process monitors, environment radiation monitors, surface contamination monitors, radioactive material monitors, and other products. In 2016, the personal dosimeters segment accounted for the largest share of the market. The growth of this segment can be attributed to the high demand for personal dosimeters in the medical field.

The full-body protection products segment is expected to grow at the highest CAGR during the forecast period.

On the basis of product, the medical radiation safety market is segmented into full-body protection products, face protection products, hand safety products, and other safety products. The full-body protection products segment is expected to grow at the highest CAGR during the forecast period. The increase in the number of radiological procedures and awareness among physicians, radiologists, and patients are driving the growth of the full-body protection products market.

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Geographical Regions Mapped in Report:

On the basis of region, the medical radiation detection, monitoring, and safety market is segmented into North America, Europe, Asia, and the Rest of the World (RoW). North America dominated the medical radiation detection, monitoring, and safety market. On the other hand, the Asian region is expected to grow at the fastest growth rate due to the growing number of hospitals, rising incidence of cancer, increasing installations of radiological imaging systems, and rising adoption of radiation therapy for the treatment of diseases.

Maior Key Players Mapped in Research Report:

Key players in the medical radiation detection, monitoring, and safety market are Landauer, Inc. (U.S.), Mirion Technologies, Inc. (U.S.), IBA Worldwide (Belgium), Thermo Fisher Scientific (U.S.), Sun Nuclear Corporation (U.S.), Ludlum Measurements, Inc. (U.S.), Radiation Detection Company, Inc. (U.S.), Biodex Medical Systems, Inc. (U.S.), Arrow-Tech, Inc. (U.S.), Fluke Biomedical (U.S.), AmRay Medical (Ireland), Infab Corporation (U.S.), and PTW Freiburg GmbH (Germany).