Gas-filled Detectors to Account for Over 40% Share in Medical Radiation Detection, Monitoring, and Safety Market: Fact.MR Study
Published : 19 Jul 2021 Industry: Healthcare
Fact.MR – a market research and competitive intelligence provider, projects the global medical radiation detection, monitoring and safety market to have a positive outlook, expanding at a CAGR of above 6% across the 2021-2031 forecast period.
The world is constantly advancing in technology to protect against the threat and issues of radiation with real-time and immediate results. Medical radiation detection, monitoring and safety equipment is applicable in nuclear medicine for the rapid identification of cancer. It is also used in the monitoring of fatal diseases through visual tracking.
Radiation detectors utilize the interaction of ionizing radiation to produce UV or visible light and are called scintillation detectors. In addition, these detectors provide information about energy distribution of incident radiation, and thus, can be utilized in spectrometers. Furthermore, hospitals, doctors, and dentists use a variety of nuclear materials to diagnose, monitor, and treat a wide assortment of metabolic process and medical condition in humans.
Key Takeaways from Market Study
- Global medical radiation detection, monitoring, and safety market to top US$ 1.5 Bn by 2031.
- Personal dosimeters projected to reach valuation of around US$ 300 Mn by 2031.
- Sales of environment radiation monitors projected to record around 3% CAGR over the next 10 years.
- The market in Japan to record 3% CAGR over the forecast period of 2021- 2031.
- China forecast to reach a projected market size above US$ 105 Mn by 2031.
- The market in Canada projected to expand at above 4% CAGR over the next 10 years.
“With advancements in technology, the market has witnessed development of latest medical radiation detection, monitoring, and safety devices,” says a Fact.MR analyst.
Companies leverage strategic collaborative initiatives to increase their market share and profitability. Companies operating in the market are also acquiring start-ups working on radiation detection, monitoring, and safety technologies to strengthen their product capabilities.
- In 2019, IBA Dosimetry launched myQA® iON, a unique environment for rapid and accurate cancer patient QA in proton therapy. myQA iON substantially reduces the required time for patient QA.
- In 2019, Kromek launched the D3S PRD personal radiation detector. It is a high-speed SPRD (spectroscopic radiation detector) or PRD replacement that is a cost-effective radiation detection device, and puts a very powerful and sensitive radiation detector into the hands of first-line users.
- In 2020, Thermofisher Scientific and Nano Pin Technologies Inc. collaborated to advance blood-based infectious disease detection technology through the development of highly sensitive liquid chromatography mass spectrometry (LC-MS)-based workflows.
More Insights Available
Fact.MR, in its new offering, presents an unbiased analysis of the medical radiation detection, monitoring, and safety market, presenting historical demand data (2016-2020) and forecast statistics for the period of 2021-2031.
The study divulges essential insights on the market on the basis of radiation and monitoring product (personal dosimeters, area process monitors, environmental radiation monitors, surface contamination monitors, and radioactive material monitors), detector (gas filled detectors, scintillators, and solid state detectors), safety (full body protection, face protection, and hand protection), and end user (hospitals, clinics, ambulatory surgical centers, and non-hospitals), across seven major regions (North America, Latin America, Europe, East Asia, South Asia, Oceania, and the Middle East & Africa).
Fact.MR’s Domain Knowledge on Healthcare
Our healthcare consulting team guides organizations at each step of their business strategy by helping you understand how the latest influencers account for operational and strategic transformation in the healthcare sector. Our expertise in recognizing the challenges and trends impacting the global healthcare industry provides indispensable insights and support - encasing a strategic perspective that helps you identify critical issues and devise appropriate solutions.
For more information, refer to our market research report or contact the PR author.
Shambhu Nath Jha
Sr. Consultant - Healthcare