Radiation Shielding Material Market by Type (Electromagnetic Radiation, Particle Radiation), Material (Lead Shielding, Lead Composite Shielding, Copper, Tungsten), Application (X-ray room, CT Scan Facility, MRI Room), Region - Global Forecast to 2028

Radiation Shielding Material Market by Type (Electromagnetic Radiation, Particle Radiation), Material (Lead Shielding, Lead Composite Shielding, Copper, Tungsten), Application (X-ray room, CT Scan Facility, MRI Room), Region - Global Forecast to 2028

The radiation shielding market is projected to reach USD 980 Million by 2028 from USD 714 Million in 2023, at a CAGR of 6.5% during the forecast period. Growth in diagnostic X-ray room shielding is mainly driven by the Awareness of the potential health risks associated with exposure to ionizing Radiation is increasing rapidly among people working in radiation-prone environments. According to NHS England 2020, Radiography (X-ray) was the most common imaging test performed with 22.9 million procedures, followed by diagnostic ultrasonography (9.51 million procedures), computerized axial tomography (5.15 million procedures), and MRI (3.46 million procedures). The increased use of diagnostic procedure and radiation treatment is expected to drive the adoption of radiation shielding material.

“The Electromagnetic Radiation segment accounted for the highest market share in the medical radiation shielding solution market, by type, during the forecast period.”

Based on the solution of the segment, the medical Radiation shielding market is categorized as Electromagnetic Radiation and Particle Radiation. Electromagnetic Radiation is expected to have the highest growth in the market, which is attributed to the rising prevalence of various chronic diseases like cancer and the the use of Electromagnetic Radiation, particularly ionizing radiation, is commonly used in medical imaging and radiation therapy for diagnostic and treatment purposes for cancer diseases will drive the Electromagnetic Radiation.

“The North America segment accounted for the highest market share in the radiation shielding material market, by region, during the forecast period.”

Based on the region, the global medical Radiation shielding market is categorized into North America, Europe, Asia Pacific, and Rest of the world. North America is expected to witness a high market share during the forecast period due to growth development and awareness of the diagnostic and radiotherapy centers of the cancer treatment. For instance, As of July 2021, Novacap which is Canada's leading private equity firm has invested in Canada Diagnostic Centres (CDC), an Alberta-based provider of medical imaging services. Canada Diagnostic Centres provides care during 500,000 patient-visits annually for such services as ultrasound, mammograms, X-rays, MRI, CT scans, and image-guided pain management. Novacap shares CDC's vision to create a physician-led national champion in diagnostic imaging and image-guided procedures

Breakdown of supply-side primary interviews by company type, designation, and region:

By Company Type: Tier 1 (32%), Tier 2 (46%), and Tier 3 (22%)

By Designation: C-level (40%), Director-level (26%), and Others (34%)

By Region: North America (34%), Europe (30%), Asia-Pacific (22%), RoW- (14%),

Prominent companies include ETS-LINDGREN (An Esco Technologies Company) (US), Nelco worldwide (US), Infab Corporation (US), Burlington Medical (US), MarShield (Canada), Ray-Bar Engineering Corp (US), Mars Metal Company (Canada), Radiation Protection Products (US), Nuclear Lead Co (US), Ultraray (Canada), Veritas Medical Solutions, LLC (US), Global Partners in Shielding, Inc (US), Nuclear Shields (Netherlands), A&L Shielding (US), Amray Medical (Ireland), Protech Medical (US), Lemer Pax (France), Pilot Industries Limited (India), Mayco Industries (US), Nuclear Shielding Supplies & Service (US), Canada Metal North America Ltd. (Canada), Lead Shielding (US), Wardray Premise (UK), Calder Healthcare (UK) and Gravita India Ltd. (India).

Research Coverage

This research report categorizes the radiation shielding material market which is segmented into type of radiation, material used of sheidling and the applications of those materials. The type of radiation in classified as the Electromagnetic Radiation and Particle Radiation. The Material used for the shielding is devided into three types Lead Shielding, Lead Composite Shielding comparises of Rubber, Barium, PVC and ther lead composite shielding material and Non-Lead and Lead Free Shielding material is classifies as the Concrete, Copper, Tungsten and others lead free shielding used in radiation shielding. The Application segment the classised as the Diagnostic x-ray room shielding, CT Scanner shielding facility, MRI Room shielding , Nuclear medicine imaging shielding, Radiotherapy shielding and Radiation protection safety aprons/apparel/equipments, and regional segment is divided as the North America, Europe, Asia Pacific and Rest of world. The scope of the report covers detailed information regarding the major factors like market dynamics such as drivers, restraints, challenges, and opportunities which is influencing the growth of the radiation shielding material market. A detailed analysis of the key industry players has been also the companies new launches, develoepments, mergers and acquisitions associated with the Radiation shielding material market has been covered. Competitive analysis of upcoming startups in the radiation shielding material market ecosystem is covered in this report.

Key Benefits of Buying the Report:

The report will help the market leaders/new entrants in this market with information on the closest approximations of the revenue numbers for the overall medical Radiation shielding market and the subsegments. This report will help stakeholders understand the competitive landscape and gain more insights to position their businesses better and plan suitable go-to-market strategies. The report also helps stakeholders understand the pulse of the market and provides them with information on key market drivers, restraints, challenges, and opportunities.

The report provides insights on the following pointers:

Analysis of key drivers (Growing usage of nuclear medicine and radiation therapy for diagnosis and treatment, Increasing use of particle therapy for cancer treatment, Growing incidences of cancer, Development of number of PET/CT scans technology and Increasing safety awareness among people working in radiation prone environment), restraints (Lack of adequate healthcare infrastructure, Dearth Of Skilled Oncologist/Radiologist and No mandate for using lead aprons during dental x-ray procedures in the US) opportunities (Growing healthcare expenditure across developing countries, Recommendations for cancer screening and Raising demand for cancer treatment Increasing public-private investments in cancer research) and Challenges (High cost of lead in manufacturing radiation accessories and Discomfort and pain due to the weight of lead apron) are influencing the growth of the radiation shielding material market.

Product Development/Innovation: Detailed insights on upcoming technologies, research & development activities, and new product & service launches in the radiation shielding material market.

Market Development: Comprehensive information about lucrative markets – the report analyses the the radiation shielding material market across varied regions.

Market Diversification: Exhaustive information about new products & services, untapped geographies, recent developments, and investments in the the Radiation shielding material market

Competitive Assessment: In-depth assessment of market shares, growth strategies, and service offerings of leading players, among others, in the the radiation shielding material market strategies.