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Medical Radiation Detection, Monitoring, and Safety Market Size Forecasted to Reach Valuation of USD 1,339.4 Million by 2027

The Medical Radiation Detection, Monitoring, and Safety Market is estimated to reach USD 1,339.4 million in 2027, up from USD 899.9 million in 2019. This represents a compound annual growth rate (CAGR) of 5.0 percent for the forecast period of 2019-2027. The exponential growth of the sector can be attributed to the increasing number of cancer cases occurring around the world. The increasing use of nuclear medicine and radiation therapy in the diagnosis and treatment of rare and chronic diseases is expected to further fuel market expansion in the coming years.

The rapid expansion of diagnostic imaging centres, as well as an increase in the number of people electing to purchase health and medical insurance, are the key factors driving the industry’s growth. Market expansion is being fueled by an increase in the number of applications for advanced medical technologies as well as considerable research and development. A variety of problems might arise as a result of medical radiation treatment. Increasing government attempts to discover solutions for treating radiation-related health hazards are providing additional impetus to the market’s development. The increasing level of knowledge among people all around the world is also contributing to the market’s expansion. Because of the negative consequences of medical devices on humans, there is an increased demand for safety devices in the medical device business.

The shortage of qualified specialists and medical professionals is expected to constrain the market’s ability to meet its demand. It is also expected that strict rules governing the safety of these items will limit the industry’s ability to grow in the future. In contrast, the rising adoption of modern technologies by healthcare facilities such as ambulatory surgical centres (ASCs), hospitals, diagnostic centres, and cancer research institutions is predicted to circumvent the restraining factors and contribute to the market’s expansion.

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The following are the most important findings from the report:

  1. It is necessary to utilise personal dosimetry to limit doses for patients who are exposed to radiation as a result of their work environment. The dosimetry procedures come in a variety of forms and are somewhat dependent on the source of radiation, which can be either external or internal to the body. It is also used to determine the amount of external radiation a person has been exposed to.
  2. The gas-filled detectors sub-segment is expected to grow at a much higher compound annual growth rate (CAGR) over the forecasted timeframe, owing to the favourable performance-to-cost ratio of gas-filled detectors, as well as the growing application of medical imaging technology.
  3. The increasing number of cancer patients seeking treatment at specialised clinics or research institutes is contributing to the expansion of the clinics sub-segment. These clinics are outfitted with the most up-to-date, cutting-edge technology, allowing them to provide patients with advanced, dependable, and safe operations. During the forecast period, the segment is expected to grow at a considerable compound annual growth rate (CAGR).
  4. North America accounted for a significant portion of the industry’s revenue in 2019, and it is expected to maintain its leadership position throughout the forecasted timeline. The adoption of appropriate regulatory regulations, as well as the acceleration of inventions and technical upgrades in the region, can be attributed to the region’s growth. Additionally, the increased demand from the United States is expected to have a favourable impact on the industry’s progress.
  5. Amray Group, Mirion Technologies, Inc., Thermo Fisher Scientific, Fortive Corporation, Polimaster, Inc., Infab Corporation, Biodex Medical Systems, Inc., Sun Nuclear Corporation, PTW Freiburg GmBH, and Bertin Instruments are only a few of the industry’s well-known companies.
  6. 2019 saw the introduction of the “D3S PRD (personal radiation detector)” by Kromek. Spectroscopic radiation detector or PRD replacement that is high-speed and cost-efficient, allowing for the deployment of a strong and accurate radiation detector in the hands of front-line users.
  7. Detection, monitoring, and safety of medical radiation are all growing markets.

According to the objectives of this analysis, Emergen Research has divided the Global Medical Radiation Detection, Monitoring, and Safety Market into the following categories: product, detector, application, and geography

Product Development Prospects (Revenue, USD Billion; 2017-2027)

Personal Dosimeters Active Dosimeters Passive Dosimeters Environment Radiation Monitors Area Process Monitors Personal Dosimeters Passive Dosimeters
Surface Contamination Monitors Radioactive Material Monitors Surface Contamination Monitors
Detector Outlook: Other Medical Radiation Detection and Monitoring Products Detector Outlook: (Revenue, USD Billion; 2017-2027)

  • Gas-Filled Detectors are a type of gas detector.
  • Counters for Generals and Proportional Counters
  • Ionization Chambers are a type of ionisation chamber.
  • Solid-State Detectors (also known as SSDs)
  • Diamond Detectors are devices that detect diamonds.
  • Semiconductor Detectors are a type of detector that uses semiconductors.
  • Scintillators
  • Scintillators made of organic materials
  • Perspectives for the Use of Inorganic Scintillators (Revenue, USD Billion; 2017-2027)

Regional Outlook for Ambulatory Surgical Centers, Hospitals, Clinics, and Other Facilities (Revenue, USD Billion; 2017-2027)

  • North America is a continent that includes the United States, Canada, and Mexico.
  • U.S. \sCanada
  • Mexico
  • Europe
  • Germany
  • U.K. \sFrance
  • Rest of Europe (BENELUX) BENELUX
  • Asia and the Pacific
  • China
  • Japan
  • South Korea is a country in East Asia.
  • The rest of Asia-Pacific
  • Latin America is a continent that includes
  • Brazil and the rest of Latin America
  • Africa and the Middle East
  • Saudi Arabia is a country in the Middle East.
  • UAE with the rest of the Middle East and North Africa