Medical Radiation Detection Market worth $1,207 million by 2025 – Fortive Corporation (US), Mirion Technologies (US) are Leading Key Players

Medical Radiation Detection Market

Medical Radiation Detection Market Medical Radiation Detection Market

PUNE, India, 2021-May-24 — /EPR Network/ — The report “Medical Radiation Detection Market by Detector (Gas-Filled Detectors, Scintillators, Solid-State), Product (Personal Dosimeters, Passive Dosimeters), Safety (Full Body Protection), End User (Hospitals) – Global Forecast to 2025″, the global medical radiation monitoring, and safety market is projected to reach USD 1,207 million by 2025 from USD 949 million in 2020, at a CAGR of 4.9% during the forecast period.

The Growth in Medical Radiation Safety Market is attributed to the increasing use of nuclear medicine and radiation therapy for diagnosis and treatment, growing number of diagnostic imaging centers, rising prevalence of cancer, increasing safety awareness among people working in radiation-prone environments, and the growing number of people covered by insurance.

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TheGas-filled detectors accounted for the larger share of the medical radiation detection and monitoring market in 2019

Based on the detector type, the medical radiation detection and monitoring market is segmented into gas-filled detectors, solid-state detectors, and scintillators. In 2019, the gas-filled detectors segment accounted for the largest market share of medical radiation detection and monitoring market . The large share of this segment can be attributed to the favorable performance-to-cost ratio of gas-filled detectors coupled with their wide application in the medical imaging field.

Geographical View in-detailed:

The medical radiation detection, monitoring and safety market is segmented into four major regional segments, namely, North America, Europe, Asia Pacific, and the Rest of the World. In 2019, North America accounted for the largest share of the medical radiation detection, monitoring and safetymarket. The large share of North America can be attributed to factors such as the increasing awareness about radiation safety, growing number of radiodiagnostic procedures performed, and ongoing research aimed at the development of new and advanced radiation detection, monitoring, and safety products are driving the growth of the North American medical radiation detection, monitoring, and safety market.

Global Key Leaders:

The major players in the medical radiation detection, monitoring and safetymarket are Fortive Corporation (US), Mirion Technologies (US), IBA Worldwide (Belgium), Thermo Fisher Scientific (US), and Sun Nuclear Corporation (US).

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Fortive Corporation (US) held the leading position in the medical radiation detection, monitoring and safety market in 2019. The company is a provider of technical and analytical services that determine the exposure of environmental and occupational radiation hazards. Fortive Corporation derives a majority of its revenue from the North American market. The company focuses on introducing radiology products that reduce radiation exposure to physicians and patients as well as products that increase the accuracy of imaging by using reference markets. Fortive Corporation consistently invests in research and development to introduce innovative products. Although the company has not been involved in any major developments in the last few years, its strong focus on brand management and efficient distribution will help it to maintain its position in the market.

Mirion Technologies (US) accounted for the second-largest share of the global medical radiation detection, monitoring and safety market in 2019. The company provides radiation detection, measurement, analysis, and monitoring products and services to the nuclear power, medical, military, and homeland security markets. To sustain its foothold and increase its share in the market, the company pursues inorganic growth strategies. In this regard, in July 2020, Mirion Technologies acquired three different companies for the expansion of its product portfolio. The acquisition combined the strengths of these companies, creating a premier supplier of radiation safety solutions for the nuclear, defense, and medical industries.

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