The Global Medical Radiation Detection market is estimated to grow at a CAGR of 4.81% during the forecast year.
Most diagnostic tests use ionizing radiation (e.g., x-rays, CT, and radionuclide scanning) and non-ionizing radiation exposure, which is potentially harmful. Since no threshold exists below which harmful effects occur, it is essential to implement measures and minimize radiation exposure. Controlled use of radiation has become a key part of modern medical treatment and diagnostics, especially for certain forms of cancer. As a result of the need to regulate radiation exposure, the International Commission on Radiological Protection (ICRP) has taken a consistent approach to radiation protection internationally by keeping radiation levels as low as achievable and below the individual dose limits. Growth in the medical radiation detection market is attributed to the increasing usage of nuclear medicine and radiation therapy for diagnosis and treatment and the rising safety awareness among people working in radiation-prone environments. However, a lack of skilled medical physicists might restrain the medical radiation market during the given forecast period.
The market is expected to surge in the coming years due to the rise in the usage of radiation therapy for various medical purposes. Radiation therapy, which is also known as radiotherapy, is a cancer treatment that uses a wide and considerable range and doses of radiation to shrink tumors and kill cancer. With the rising cases of cancer, the demand for radiation therapy is expected to surge. According to the World Health Organisation, cancer has become a leading cause of mortality and death and amounted to around 10 million deaths in 2020. Radiation therapy has become an imperative mechanism to ease cancer symptoms and treat cancer. It is used to cure cancer, slow or stop its growth, and prevent it from returning. External and internal radiation therapy is used to treat different types of cancer.
Brachytherapy is one of the most common procedures to treat cancers of the neck and head, eye, prostate, and cervix. Systematic radiation therapy is used to treat different types of thyroid cancer. Other types of systematic radiation therapy, such as targeted radionuclide therapy, are also used to cure and treat patients with gastroenteropancreatic neuroendocrine tumors or advanced prostate cancer. These developments and trends are expected to play a major role in the overall market growth in the coming years.
The market is expected to surge in the coming years due to the rising use of nuclear medicines globally. The joint paper from the European nuclear trade body, Nuclear Medicine Europe and Foratom, which represents imaging equipment and pharmaceutical companies, stated that Europe must take extensive measures and initiatives to maintain the current level of radioisotope supply. The joint paper also stated that the European Union must promote novel research reactor capacity installations and innovation in the design modification and the sector. There have been other developments in the nuclear medicine market in the last few years. For instance, this IAEA Coordinated Research Project created a new class of 99mTc kits and radiopharmaceuticals in November 2023.
The demand for gas-filled detectors is high due to several advantages over other types of radiation detectors. For instance, gas-filled detectors are perfect for use in settings where radiation levels need to be closely monitored because they are highly sensitive to ionizing radiation and can detect extremely low radiation levels. They can also be applied to various uses due to the flexibility and appropriateness of gas-filled detectors, as they detect many kinds of radiation types like gamma rays, beta particles, X-rays, and alpha particles.
The complexities of the regulatory framework present a significant challenge to the medical radiation detection sector’s expansion. This complex environment is defined by numerous national and international standards, guidelines, and compliance requirements governing the use of radiation in healthcare settings. Healthcare organizations and producers of radiation detection equipment must make large time and financial commitments to ensure compliance with these complex regulations.
Asia-Pacific is experiencing significant growth due to several key factors. Radiation detection equipment is becoming increasingly necessary in medical settings due to the region's large population and expanding healthcare and diagnostic facilities. Government initiatives on nuclear safety, increasing cancer cases requiring radiotherapy, and growing awareness about radiation safety add to the market's importance.
| Report Metric | Details |
|---|---|
| Study Period | 2021 to 2031 |
| Historical Data | 2021 to 2024 |
| Base Year | 2025 |
| Forecast Period | 2026 – 2031 |
| Report Metric | Details |
| Growth Rate | CAGR of 4.81% |
| Study Period | 2020 to 2030 |
| Historical Data | 2020 to 2023 |
| Base Year | 2024 |
| Forecast Period | 2025 – 2030 |
| Forecast Unit (Value) | USD Billion |
| Segmentation |
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| Geographical Segmentation | North America, South America, Europe, Middle East and Africa, Asia Pacific |
| List of Major Companies in the Medical Radiation Detection Market |
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| Customization Scope | Free report customization with purchase |