Medical Radiation Detection, Monitoring, and Safety Market Size, Share, Trends, Value 2030

Medical Radiation Detection, Monitoring, and Safety Industry Prospective:

The global medical radiation detection, monitoring, and safety market size was worth around USD 2370 million in 2022 and is predicted to grow to around USD 4230 million by 2030 with a compound annual growth rate (CAGR) of roughly 7.57% between 2023 and 2030.

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The report delves deeper into several crucial aspects of the global medical radiation detection, monitoring, and safety market. It includes a detailed discussion of existing growth factors and restraints. Future growth opportunities and challenges that impact the medical radiation detection, monitoring, and safety industry are comprehensively addressed in the report.

Medical Radiation Detection, Monitoring, and Safety Market: Overview

Medical radiation refers to the several types of radiation that a person can be subject to in a healthcare setting such as hospitals or diagnostic centers. The research community and world health leaders accept that exposure to medical radiation coming from certain types of medical devices may have short-term or long-term impacts on human health. However, hospitals and other medical care-providing centers continue to use this equipment as they have become crucial to quality care. For instance, most medical imaging procedures require the use of devices that deliver X-ray beams. They are a form of ionizing radiation that helps to create digital film or image of the intended body part. This image is used by medical professionals to diagnose conditions and treat them accordingly. The market for medical radiation detection, monitoring, and safety works toward ensuring that people including healthcare staff and patients are not exposed to radiation beyond the required or essential intensity.

Key Insights:

• As per the analysis shared by our research analyst, the global medical radiation detection, monitoring, and safety market is estimated to grow annually at a CAGR of around 7.57% over the forecast period (2023-2030)
• In terms of revenue, the global medical radiation detection, monitoring, and safety market size was valued at around USD 2370 million in 2022 and is predicted to grow to around USD 4230 million, by 2030.
• The medical radiation detection, monitoring, and safety market is projected to grow at a significant rate due to the rising use of medical imaging procedures
• Based on safety type segmentation, shields was predicted to show maximum market share in the year 2022
• Based on end-user segmentation, hospitals was the leading segment in 2022
• On the basis of region, North America was the leading revenue generator in 2022

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Medical Radiation Detection, Monitoring, and Safety Market: Growth Drivers

Rising use of medical imaging procedures to drive market growth

The global medical radiation detection, monitoring, and safety market is projected to grow due to the growing use of medical imaging procedures. These techniques include computed tomography (CT) scans, X-rays, and magnetic resonance imaging (MRI) scans. They have become an integral part of the modern healthcare system since they have proven their capability in diagnosing and treating a condition. A growing number of patients suffer from severe medical conditions including heart disease and cancer. They are also used to understand the internal structure of the body for any other abnormality. A Harvard University study concluded that nearly 80 million CT scans are conducted in the US every year. The same study also concluded that CT scans are responsible for nearly 24% of all incidences of radiation exposure in the country. These factors have propelled and encouraged the regional governments to ensure that such imaging systems or other forms of medical radiation do not become the cause of additional deadly diseases.

Increasing research toward developing less radiation-emitting machines to cause further growth

Another key contributor in the sector is the increasing research and development (R&D) in building imaging devices that do not emit excessive radiation. This includes the launch of new high-frequency X-ray generator technology which uses nearly 40% less radiation dose.

Medical Radiation Detection, Monitoring, and Safety Market: Restraints

Lack of awareness and easygoing attitude toward managing medical radiation to restrict market growth

Excessive exposure to medical radiation is a serious problem and should be dealt with in detailed care. However, there is a general lack of awareness about the impact of exposure to harmful traditions within the medical community and the patients. Moreover, countries with guidelines responsible for managing medical practices may lack correct implementation policies which are required to ensure that hospitals and other medical centers adhere to the guidelines. A 2019 study posted by the National Institute of Health claimed that nearly 34% of the patients surveyed were not aware that exposure to radiation during imaging procedures can be harmful.

Medical Radiation Detection, Monitoring, and Safety Market: Opportunities

Growing application of nuclear medicine to provide growth opportunities

The global medical radiation detection, monitoring, and safety industry is expected to benefit from the growing adoption of nuclear medicine worldwide. In this form of medicine, radioactive substances are used for diagnosing, researching, and treating medical conditions. The substances are called radiopharmaceuticals and certain examples of conditions treated using nuclear medicine include bone pain, lymphomas, thyroid cancer, hyperthyroidism, and certain types of cancer. In February 2023, Terapet, a private MedTech company, announced that it received nearly CHF 2.3 million that will be used for the development of nuclear imaging products along with the commercialization of Qualγscan.

Medical Radiation Detection, Monitoring, and Safety Market: Challenges

Seamless integration with existing medical technology to challenge the market expansion

One of the key challenges faced by the global medical radiation detection, monitoring, and safety market players is in terms of ensuring that they can create products that can be seamlessly integrated with legacy systems in the healthcare unit. This includes synchronizing software and hardware systems to deliver the desired output. In addition to this, radiation detection kits may not be 100% efficient since they show limitations in terms of detecting certain types of radiation which may cause consumers to question the cost-efficiency of the products.

Medical Radiation Detection, Monitoring, and Safety Market: Segmentation

The global medical radiation detection, monitoring, and safety market is segmented based on safety type, product, detector, end-user, and region.

Based on safety type, the global market segments are gloves, face masks, aprons, shields, face protection products, full-body protection products, and others. The highest CAGR was observed in the shields segment in 2022 and is expected to continue its growth streak. These shields are typically worn around the neck which helps in preventing exposure of the thyroid gland to harmful radiation. It is used during procedures such as nuclear medicine studies and head imaging. Face masks are another significant revenue generator as they may be used during several imaging techniques. As estimated, nearly 3.6 million X-rays are conducted every year globally.

Based on product, the medical radiation detection, monitoring, and safety industry is divided into radiation safety products and radiation detection & monitoring products. The most common type of products used are radiation safety devices since they are used in almost all types of medical facilities. These products or devices play a crucial role in ensuring the safety of patients and healthcare professionals during everyday medical procedures. Radiation detection & monitoring products are expensive and hence are adopted in limited settings. The average price of radiation monitoring systems is between USD 3000 to USD 30000.

Based on detector, the global market is segmented into solid-state detectors, scintillators, and gas-filled detectors. The industry may register higher growth in the scintillators segment in 2022 as studies indicate that these detectors have higher efficiency in terms of gamma-ray interaction when compared to their counterparts. However, gas-filled detectors are used significantly, especially Geiger-Muller (GM) detectors. In this detector, any value below 150 counts per minute (CPM) is considered safe.

Based on end-user, the medical radiation detection, monitoring, and safety industry is divided into clinics, hospitals, non-hospitals, ambulatory surgical centers, and others. The highest growth was registered in the hospitals segment in 2022 led by the growing number of patients admitted to hospitals that were required to undergo medical imaging procedures. As per the American Cancer Society, in 2022, there were around 12,380 new cases of laryngeal cancer

Medical Radiation Detection, Monitoring, and Safety Market: Report Scope

Medical Radiation Detection, Monitoring, and Safety Market: Regional Analysis

North America to register high growth driven by security protocols in place

The global medical radiation detection, monitoring, and safety market will register the highest growth in North America led by the presence and implementation of strict security protocols in the healthcare sector that ensure patient and healthcare professional safety. The high budget of hospitals in the US and Canada allows them to spend on additional security measures that allow superior medical care. Additionally, factors such as the presence of key manufacturers along with the increasing rate of critical conditions diagnosis alongside access to medical reimbursement policies could also assist in regional growth.

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Europe is projected to act as the second leading region during the forecast period. Europe has established laws that ensure patient safety. For instance, the European radiation directive has set limits on the maximum radiation dose a person can be subjected to in normal circumstances. The limits derive values from international studies that were conducted to understand the impact of radiation on humans. Furthermore, the increasing geriatric population and advanced healthcare further add to regional growth.

Medical Radiation Detection, Monitoring, and Safety Market: Competitive Analysis

The global medical radiation detection, monitoring, and safety market is led by players like:

• Mirion Technologies
• Thermo Fisher Scientific
• AmRay Medical
• Fluke Biomedical
• Landauer Inc.
• Unfors RaySafe
• Fuji Electric
• Ludlum Measurements
• PTW Freiburg GmbH
• Sun Nuclear Corporation
• Bertin Instruments
• Biodex Medical Systems
• Radiation Detection Company
• Centronic Ltd.
• Radcal Corporation

The global medical radiation detection, monitoring, and safety market is segmented as follows:

By Safety Type

• Gloves
• Face Masks
• Aprons
• Shields
• Face Protection Products
• Full-Body Protection Products
• Others

By Product

• Radiation Safety Products
• Radiation Detection & Monitoring Products

By Detector

• Solid-State Detectors
• Scintillators
• Gas-Filled Detectors

By End-User

• Clinics
• Hospitals
• Non-Hospitals
• Ambulatory Surgical Centers
• Others

By Region

• North America
  • The U.S.
  • Canada
• Europe
  • France 
  • The UK
  • Spain
  • Germany
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Southeast Asia
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• Middle East & Africa
  • GCC
  • South Africa
  • Rest of Middle East & Africa