Medical Radiation Detection, Monitoring, and Safety Market Valuation Worth USD 1,339.4 Million in 2027 | Emergen Research

Increasing incidence of various types of cancer worldwide, growing demand for radiation therapy for cancer diagnosis and treatments, and rapid advancements in radiation technology are some key factors expected to drive global Medical Radiation Detection, Monitoring, and Safety market growth.

According to Emergen Research, the global medical radiation detection, monitoring, and safety market size was USD 899.9 million in 2019 and is expected to reach USD 1,339.4 million in 2027 and register a steady revenue CAGR of 5.0% during the forecast period, 2020-2027.

Market Dynamics:

Radiation is a form of energy that travels from a source as waves or energized particles. It is widely used in the medical sector in diagnostic technologies such as nuclear imaging, computed tomography, and mammography among others. Radiation detection, monitoring, and safety apparatus help in reducing the effect of harmful radiation. Radiation detection focuses on detecting and decreasing unnecessary radiation exposure, while radiation monitoring ensures acceptably safer radiological conditions in the working/treatment area. Medical radiation is also used in cancer treatment to destroy tumor cells.

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Factors such as increasing number of diagnostic imaging centers, rapid adoption of advanced radiation technologies in hospitals, clinics, and diagnostic centers, and improving healthcare infrastructure are expected to drive global market revenue growth during the forecast period. In addition, growing awareness about radiation monitoring and safety, rising healthcare expenditure, and increasing investments in R&D activities are expected to fuel market growth going ahead.

However, lack of qualified medical physicists and skilled technicians, product approval delays due to stringent regulatory policies, and high risks of radioactive radiation are some key factors that can hamper overall market growth to a certain extent during the forecast period. 

COVID-19 Impact Analysis 

  • Social distancing and restrictions severely disrupted businesses and operations
  • Lockdowns caused disruptions in transportation and logistics
  • Impacted manufacturing activities and mining operations globally
  • Took a toll on economy of various countries
  • Caused sudden and drastic downturn in economic activity
  • Disrupted agriculture, fisheries, dairy, and other sectors
  • Caused loss of employment and financial crisis
  • Supply impacts were further compounded owing to reduced disposable income
  • Emergence of variants continue to cause concerns and impact normal routines

Hospital Segment To Account for Largest Revenue Share:

The hospital segment is expected to account for largest revenue share over the forecast period owing to increasing patient pool, rising hospital admission, growing adoption of advanced tools, treatment facilities, and safety measures, and rising healthcare expenditure. 

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Gas-filled Detectors Segment to Register Robust Revenue CAGR:

The gas-filled detectors are expected to register robust revenue CAGR between 2020 and 2027 owing to increasing incidence of cancer across the globe, rising awareness about the importance of gas-filled detectors in medical imaging field, and growing preference due to better performance-to-cost ratio of these detectors. 

North America to Lead In Terms of Revenue Share:

North America is expected to account for largest revenue share in the global market during the forecast period owing to factors such as presence of leading companies, rising incidence of various types of cancers, and high usage of radiation therapy and nuclear medicine. In addition, presence of well-developed healthcare facilities and research centers, growing awareness about radiation safety and detection, rising number of radio diagnostic procedures and increasing investments in R&D activities are expected to drive North America market growth going ahead.

 Major Companies in the Market Include:

  • Mirion Technologies, Inc.
  • Sun Nuclear Corporation
  • Thermo Fisher Scientific
  • Fortive Corporation
  • Bertin Instruments
  • Polimaster, Inc.
  • Biodex Medical Systems, Inc.
  • Amray Group
  • PTW Freiburg GmBH
  • Infab Corporation

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For the purpose of this report, Emergen Research has segmented into the global Medical Radiation Detection, Monitoring and Safety Market on the product, detectors, application, and region:

Product Outlook (Revenue, USD Million; 2017-2027)

  • Personal Dosimeters
    • Passive Dosimeters
    • Active Dosimeters
  • Area Process Monitors
  • Environment Radiation Monitors
  • Surface Contamination Monitors
  • Radioactive Material Monitors
  • Other Medical Radiation Detection and Monitoring Products

Detectors Outlook (Revenue, USD Million; 2017-2027)

  • Gas-Filled Detectors
    • GM Counters
    • Ionization Chambers
    • Proportional Counters
  • Scintillators
    • Inorganic Scintillators
    • Organic Scintillators
  • Solid-State Detectors
    • Semiconductor Detectors
    • Diamond Detectors

Application Outlook (Revenue, USD Million; 2017-2027)

  • Hospitals
  • Ambulatory Surgical Centers
  • Clinics
  • Others

Regional Outlook (Revenue, USD Million; 2017–2027)

  • North America
    • U.S.
    • Canada
    • Mexico
  • Europe
    • Germany
    • France
    • U.K.
    • Italy
    • Rest of Europe
  • Asia Pacific
    • China
    • India
    • Japan
    • South Korea
    • Rest of APAC
  • Latin America
    • Brazil
    • Rest of LATAM
  • Middle East & Africa
    • Saudi Arabia
    • U.A.E.
    • South Africa
    • Turkey
    • Rest of MEA

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