Medical Radiation Detection, Monitoring & Safety Market Analysis And Forecast To 2031: By Product (Personal Dosimeters, Area Process Dosimeters, Surface Contamination Monitors), By Detection Type (Gas-Filled Detectors, Scintilators, Solid-State), By End-u

Medical Radiation Detection, Monitoring & Safety Market Analysis And Forecast To 2031: By Product (Personal Dosimeters, Area Process Dosimeters, Surface Contamination Monitors), By Detection Type (Gas-Filled Detectors, Scintilators, Solid-State), By End-user (Hospitals, Ambulatory Surgical Centers, Clinics) And Region

The global medical radiation detection, monitoring & safety market was valued at USD 1.2 billion in 2021 and it is anticipated to grow up to USD 2.0 billion by 2031, at a CAGR of 5.5% during the forecast period.

Medical radiation detectors are a type of medical equipment that detects the presence of radiation. When a person is exposed to radiation for a considerable length of time, an individual is more prone to develop a number of deadly diseases. This raises the requirement for technology capable of detecting the amount of radiation accumulating in the body. Some of the key detectors for detecting radioactive materials and ionizing radiation include the handheld survey meter (HSM), personal radiation detector (PRD), radiation portal monitor (RPM), and radiation isotope identification device (RIID). As technology advances, various radiation-detecting devices may become available for use at home. Dosimeters are medical radiation detectors that can detect Gamma rays, the most dangerous external radioactive threat.

Market Trends and Drivers

Increasing use of nuclear medicine and radiation therapy for diagnosis and treatment will boost the industry progression. During the past decade, nuclear medicine practices have undergone a tremendous transformation owing to advances in radiopharmacy, instrumentation, and IT. The increasing usage of nuclear medicine in diagnosing and treating various diseases such as cancer and cardiovascular disorders has boosted the demand for radiation detection, monitoring, and safety devices. According to NHS England, 42.7 million imaging tests were registered in England in March 2018, compared to 42.1 million in 2017, an increase of 1.4%. such aforementioned factors will positively influence the market growth.

Market Restraints and Challenges

Stringent regulatory requirements may hinders the market growth to some extent. Each country has a standard set of regulations for medical radiation, which are defined by regulatory bodies/departments. For example, the US Department of Labor has defined standards through the Nuclear Regulatory Commission (NRC), International Commission on Radiological Protection (ICRP), National Council on Radiation Protection (NCRP), Food and Drug Administration (FDA), and the US Department of Energy (DOE) for protection against radiation. These departments have implemented several guidelines for the approval of medical radiation detection, monitoring, & safety products. However, these stringent regulations extend the timelines involved in the product approval process.

Global Medical Radiation Detection, Monitoring & Safety Market Segmental Overview

The report analyses the global medical radiation detection, monitoring & safety market based on product, detection type, end-user, and region.

Global Medical Radiation Detection, Monitoring & Safety Market by Product

Based on product, it is segmented into personal dosimeters, area process dosimeters, surface contamination monitors, and others. Among these, the personal dosimeters segment captured the largest market share in 2021. This growth is attributed to the wide-ranging applications of the dosimeters in nuclear power plants, radiation dose measurements in medical and industrial processes. In addition, the availability of advanced instruments, such as, automated reader instrument, electronic radiation measuring instrument, alarm badges, thermo luminescent dosimeters (TLD), and handheld and portable devices are propelling the growth of this sector over the forecast period. Moreover, increasing threat of nuclear attacks and technological advancements, such as, optically stimulated luminescence (OSL), that provide higher accuracy for measurement of low levels of radioactivity. The overall increase in the product uptake witnessed as a result of the expansion of the current product portfolio in the companies is expected to push forward the growth of the product segment.

Global Medical Radiation Detection, Monitoring & Safety Market by Detection Type

Based on detection type, it is segmented into gas-filled detectors, scintilators and solid-state. Among them, gas-filled detectors segment is expected to experience the fastest growth rate during the forecast period. Gas-filled detectors held the largest market share in 2015, owing to rising applications in Geiger-Muller counters, ionization chambers, radiation survey meters, and proportional counters. In addition, to the user-friendly nature of these detectors such as portable, durable as well as economical are the factors further augmenting the demand. Moreover, the Geiger-Muller counters held the largest share in gas-filled detectors as a result of the high usage rate in nuclear power plant and manufacturing industries. Furthermore, the variety of alpha, beta, and gamma in Geiger tubes and probes are expected to boost market growth over the forecast period.

Global Medical Radiation Detection, Monitoring & Safety Market End-user

Based on end--user, it is segmented into hospitals, ambulatory surgery centers, clinics, and others. Hospital segment is anticipated to witness the fastest CAGR over the forecast period. The hospital segment dominated the market with a share in 2021. Hospitals held the largest share in 2015, mainly due to the increasing adoption rate of the dosimeters and detectors in radiology, emergency care, dentistry, nuclear medicine, and therapy purposes. Moreover, enhanced meters are utilized to ensure that patients, as well as the medical personnel, are exposed to radioactive emission at optimal levels, within the permissible limits prescribed by the respective authorities. These are particularly required in medical procedures, such as angiography, fluoroscopy, computed tomography (CT), and radiographic imaging that employ the more harmful ionizing radioactive rays to perform clinical diagnosis and monitoring. The rise in these interventional applications is expected to stimulate the growth of this sector over the forecast period.

Geographical Analysis of Global Medical Radiation Detection, Monitoring & Safety Market

Region-wise, it is studied across North America, Europe, Asia Pacific, and the Rest of the World. North America dominated the medical radiation detection, monitoring & safety market with the highest share in 2021. This can be attributed to the presence of a favorable regulatory framework, and technological advancement over this region. For example, Naturally Occurring Radioactive Material (NORM) and Natural Radiation Management in North America ensure the regulatory framework for safety and the presence of several key players in the region. In addition, an increase in the number of surgical procedures/hospital visits, a well-established healthcare infrastructure, and favorable reimbursement & regulatory rules in the healthcare industry are expected to present significant regional growth opportunities in the market. For instance, according to the Centers for Medicare & Medicaid Services (CMS), health spending in the U.S. is expected to grow at 5.5% every year from 2018 to 2027 and is estimated to reach USD 6 trillion by 2027. In addition, high disposable income in developed economies & skilled professionals is some factors responsible for the large share of the market of the region.

Major Players in the Global Medical Radiation Detection, Monitoring & Safety Market

COVID-19 Impact

The COVID-19 pandemic has had a devastating global impact on the health of the population and a huge economic impact on most countries worldwide. The pandemic has put significant strain on healthcare systems. Healthcare institutes and providers were instructed to stop performing elective surgical procedures and medical examinations to slow the spread of the disease and conserve healthcare resources for COVID-19 patients. As a result, many radiology departments experienced a rapid decline in imaging case volume. A study conducted by Harvey L. Neiman Health Policy Institute between January 2019 and April 2020, published in the Journal of the American College of Radiology (JACR), suggests that imaging case volume had decreased drastically due to COVID-19 week after week. The decrease in imaging case volume has varied by location, with the greatest declines observed in the outpatient setting (maximum year-over-year decline of 88%), followed by the emergency department (46%) and inpatient setting (4%).

It can be noted that practices that depend on outpatient imaging will be most severely affected. Imaging volume deterioration also varied by modality type, with the greatest declines observed in mammography (94%), nuclear medicine (85%), MRI (74%), ultrasound (64%), interventional radiology (56%), CT (46%), and X-ray (22%). However, according to a recent radiology article published in RSNA, radiology practices anticipate a 50–70% decrease in imaging volume that will last a minimum of three to four months, depending on the location of practice and the severity of the COVID-19 pandemic in each region.

Recent Developments

• In April 2022, Honeywell launches full operations at gas detector assembly facility in Saudi Arabia.
• In March 2022, Thermo Fisher Scientific launched GC and GC-MS instruments.
• In March 2021, Infab, LLC (US) launched The 903 Reverse Vest & Skirt provides strong protection against scatter radiation with a secure and comfortable fit.
• In October 2021, Mirion Technologies, Inc. (US) acquired Sun Nuclear Corporation, which is present in over 100 countries. This acquisition was meant to strengthen Mirion’s position in the market.
• In January 2021, Infab, LLC (US) acquired MediDrapes, a provider of disposable protective drapes used in medical imaging equipment such as mini C-arms, fluoroscopes, and ultrasound machines, added to the companys portfolio.
• In February 2019, Thermo Fisher Scientific launched new dosimetry monitoring service.

Frequently Asked QuestionsQ1. How big is the medical radiation detection, monitoring & safety market market?Ans. The global medical radiation detection, monitoring & safety market size was USD 1.2 billion in 2021 and is anticipated to reach USD 2.0 billion in 2031, growing at a rate of 5.5% from 2022 to 2031.Q2. What is the medical radiation detection, monitoring & safety market growth rate?Ans. The growth rate of the medical radiation detection, monitoring & safety market is 5.5%.Q3. Which region holds a major market share for the medical tapes and bandages market?Ans. North America holds a major market share of the medical radiation detection, monitoring & safety market in 2021.Q4. Which segment accounted for the largest medical radiation detection, monitoring & safety market share?Ans. By end user, the hospital segment accounted for the largest medical radiation detection, monitoring & safety market share.Q5. Who are the key players in the medical radiation detection, monitoring & safety market?Q6. What are the factors driving the medical radiation detection, monitoring & safety market growth?Ans. The major factors driving the growth of the market are the rising chronic diseases such as cancer.Q7. What are the key growth strategies of medical radiation detection, monitoring & safety market players?Ans. The key growth strategies of medical radiation detection, monitoring & safety market players are product launch and product approval.Q8. Which region will provide more business opportunities for the medical radiation detection, monitoring & safety market during the forecast period?Ans. The North America region will provide more business opportunities for the medical radiation detection, monitoring & safety market during the forecast period.

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