Medical Radiation Detection, Monitoring & Safety Market Growing at a CAGR of 6.5% During 2016 to 2021 - ReportsnReports
03 Apr, 2017, 15:00 BST
PUNE, India, April 3, 2017 /PRNewswire/ --
The global medical radiation detection, monitoring, and safety market is expected to reach $1,215.4 million by 2021 from $887.0 million in 2016, at a CAGR of 6.5% from 2016 to 2021. Personal dosimeters segment projected to have the largest share during the forecast period led by North America.
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The global medical radiation detection, monitoring, and safety market is expected to reach USD 1,215.4 million by 2021 from USD 887.0 million in 2016, at a CAGR of 6.5% from 2016 to 2021.
Growth in the medical radiation detection, monitoring, and safety market is mainly driven by factors such as increasing usage of nuclear medicine and radiation therapy for diagnosis and treatment, growing worldwide prevalence of cancer, increasing safety awareness among people working in radiation-prone environments, and the growing number of people covered by insurance. On the other hand, product approval delays due to stringent regulatory guidelines are expected to challenge market growth to a certain extent.
The key players in the medical radiation detection, monitoring, and safety market are Landauer, Inc. (U.S.), Mirion Technologies, Inc. (U.S.), IBA Worldwide (Belgium), Thermo Fisher Scientific (U.S.), Sun Nuclear Corporation (U.S.), Ludlum Measurements, Inc. (U.S.), Radiation Detection Company, Inc. (U.S.), Biodex Medical Systems, Inc. (U.S.), Arrow-Tech, Inc. (U.S.), Fluke Biomedical (U.S.), AmRay Medical (Ireland), Infab Corporation (U.S.), and PTW Freiburg GmbH (Germany).
The global market is categorized into detectors, detection and monitoring products, safety products, end users, and regions. On the basis of detector, the medical radiation detection and monitoring market is classified in to gas-filled detectors, scintillators, and solid-state detectors. In 2016, the gas-filled detectors segment dominated the global medical radiation detection and monitoring market. The growth of this segment is mainly due to the favourable performance-to-cost ratio of gas-filled detectors coupled with their wide application in the medical imaging field.
On the basis of product, the medical radiation detection and monitoring market is segmented into personal dosimeters, area process monitors, environment radiation monitors, surface contamination monitors, radioactive material monitors, and other products. In 2016, the personal dosimeters segment accounted for the largest share of the medical radiation detection and monitoring market. The growth of this segment can be attributed to the high demand for personal dosimeters in the medical field.
On the basis of product, the medical radiation safety market is segmented into full-body protection products, face protection products, hand safety products, and other safety products. The full-body protection products segment is expected to grow at the highest CAGR during the forecast period. The increase in the number of radiological procedures and awareness among physicians, radiologists, and patients are driving the growth of the full-body protection products market.
On the basis of end user, the medical radiation detection, monitoring, and safety market is segmented into hospitals and non-hospitals. In 2016, the hospitals segment accounted for the largest share and is projected to grow at the highest rate during the forecast period. The increasing number of hospitals across the globe is a major reason for the market growth in this end-user segment.
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Geographically, the medical radiation detection, monitoring, and safety market is dominated by North America, followed by Europe, Asia, and the Rest of the World (RoW). Growth in the North American segment is primarily driven by the increasing awareness about radiation safety; increasing number of radio-diagnostic procedures; and ongoing research aimed at the development of new and advanced radiation detection, monitoring, and safety products.
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