Medical Radiation Detection, Monitoring & Safety is expected to reach USD 4.9 by 2032 at 7% Compounded Annual Growth Rate( CAGR) during the foresee period. Medical Radiation Detection, Monitoring & Safety Market has its substantial impact which is actually derived from different market factors which are fundamentally important dynamics in this market. An indispensable factor that promotes huge growth of this market is the trend of high demand for medial radiation among the diagnostic and therapy procedures. There is significant demand for good quality radiation detection and monitoring tools as medical imaging technologies change and radiation treatment becomes more popular. Providing the safety of healthcare workers as well as that of patients when X-ray is in use has become a fundamental demand, and that has led to the popularity of radiation detection devices.
Besides, strict regulatory authorities and health authorities who are supervising the market play a central role in the dynamics of the market. Global regulatory agencies establish specific standards of radiation safety use in healthcare centers, the press to adopt state-of-the-art detection and monitoring systems to adhere to these rules. Moreover, the market depends on technological advancements, where, as the process is ongoing, new devices with higher efficiency and capability for detection, are being introduced and developed. The inclusion of novel technologies like artificial intelligence and machine learning in these devices increases the effectiveness of them, and they would monitor precisely and in real time.
The growing incidence of this type of disease and the continuing efforts on early warning and treatment also increases the demand for the use of medical radiation detection and monitoring devices. With radiation therapy becoming a routinely used approach in treating a broad variety of cancers, a considerable increase in the need for security measures to make sure patients are not unnecessarily exposed to radiation is observed. However, there is a growing knowledge about risks associated with radiation exposure among medical care workers that motivates them to use devices for individual monitoring and safety.
From one side, the costs of medication and logistical restrictions, which hamper market growth, are seen as a brake for market growth. The upfront financial expenditure that comes with implementing top-notch radiation protection systems may represent a major obstacle for certain healthcare institutions, especially in low-resourcing contexts. There are market dynamics that are determined by the competitive landscape in which the key competitors compete for the market share by different methods, for example, launching new products as well as partnerships and mergers.
Segmentation:
The global medical radiation detection, monitoring and safety market has been segmented into detector type, monitoring type, and safety type, and end user.
Based on detector type, market segmented into gas-filled detectors, organic scintillators, inorganic scintillators and solid-state detectors. The gas-filled detectors segment is expected to account for the largest share segment of the market in 2017.
Based on monitoring type, medical radiation detection, monitoring and safety market segmented into Personal Dosimeters, Environmental monitors, Area Monitors, Radiological material Monitors, Others.
Based on safety type, medical radiation detection, monitoring and safety market segmented into Full-Body Protection Products, Face Protection Products, and others.
Based on end user, medical radiation detection, monitoring, and safety market segmented into hospitals, clinics, ambulatory surgical centers, and others.
This market has been segmented, by region, into the Americas, Europe, Asia-Pacific, and the Middle East & Africa. The medical radiation detection, monitoring & safety market in the Americas has further been segmented into North America and South America, with the North American market divided into the US and Canada.
The European medical radiation detection, monitoring and safety market has been segmented into Western Europe and Eastern Europe. Western Europe has further been classified as Germany, France, the UK, Italy, Spain, and the rest of Western Europe.
The medical radiation detection, monitoring and safety market in Asia-Pacific has been segmented into Japan, China, India, South Korea, Australia, and the rest of Asia-Pacific. The medical radiation detection, monitoring and safety market in the Middle East & Africa has been segmented into the Middle East and Africa.
Regional Summary:
Geographically, the Americas is anticipated to dominate the global medical radiation detection, monitoring & safety market owing to a well-established player, increasing prevalence of cancer, and increasing R&D expenses.
Europe is expected to hold the second largest position in the global medical radiation detection, monitoring & safety market. The market growth in this region is attributed to the growth in radio therapy and increasing cancer diseases in the region.
The medical radiation detection, monitoring & safety market in Asia-Pacific region consists of countries namely China, Japan, Republic of Korea, India, Australia and Rest of Asia-Pacific. The Asia-Pacific region is expected to be fastest growing region owing to the increasing adoption of these products.
The Middle East & Africa has the least share of the market.
Key players:
Mirion Technologies, Inc., Thermo Fisher Scientific Inc., Sun Nuclear Corporation, IBA Worldwide, Radiation Detection Company Inc., Biodex Medical Systems, Inc., Ludlum Measurements, Inc., Amray Medical, Infab Corporation, and Fluke Biomedical are some of the key players in the global medical radiation detection, monitoring and safety market.
Global Medical Radiation Detection, Monitoring & Safety Market Share (%), by Region, 2017
Source: Annual Reports and Sec filings
Global Medical Radiation Detection, Monitoring and Safety Market, by Detector Type
Global Medical Radiation Detection, Monitoring and Safety Market, by Monitoring Type
Global Medical Radiation Detection, Monitoring and Safety Market, by Safety Type
Global Medical Radiation Detection, Monitoring and Safety Market, by End User
Global Medical Radiation Detection, Monitoring and Safety Market, by Region
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