Global Medical Radiation Detection Market Size, Share, Opportunities, COVID-19 Impact, And Trends By Devices (Gas-filled Detectors, Scintillation Detector, Semiconductor Detectors), By Product (Dosimeters, Portal Monitors, Others), By End Users (Hospitals And Clinics, Ambulatory Care Centres, Diagnostic Centres), And By Geography - Forecasts From 2021 To 2026

Published:  Jul 2021 Report Code: KSI061611693 Pages: 123

The global medical radiation detection market is expected to grow at a compound annual growth rate of 5.66% over the forecast period to reach a market size of US$1,303.354 million in 2026 from US$886.759 million in 2019. 

Most diagnostic tests use ionizing radiations (eg, x-rays, CT, and radionuclide scanning) and non-ionizing radiation exposure which is potentially harmful and there is no threshold below which no harmful effect occurs, therefore, an effort is made to measure and minimize radiation exposure becomes necessary. 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, a consistent approach to radiation protection has been taken internationally by the International Commission on Radiological Protection (ICRP) by keeping radiations level as low as achievable and below the individual dose limits. Growth in the medical radiation detection market may be attributed to the increasing usage of nuclear medicine and radiation therapy for diagnosis and treatment along with the increasing safety awareness among people working in radiation-prone environments. However, a lack of skilled medical physicists might restrain the market for medical radiation market during the given forecast period.

Increasing usage of radiation therapy for cancer treatment.

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 the year 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.

Latest Developments.

Major companies have been investing a significant sum of capital into research and development, innovation, advancement, investment, and novel product launches. 

  • In June 2021, Elekta, one of the major players in the market, announced that its major flagship Harmony radiation therapy system had received clearance from the United States of Food and Drug Administration (FDA), which would allow the US clinics to use and harness the novel system for treating a wide range of indications using the novel, advance, and latest radiotherapy techniques.
  • In June 2021, UNC Health Southeastern's Gibson Center had announced that it had added a novel, advanced, state-of-the-art system and technology from C-RAD to allow safer radiation treatments to more cancer patients, and enhance their overall quality of life. The novel system was selected to provide innovatively and advanced radiation treatment technology with the highest level of safety and accuracy. This development is expected to have a major impact on the market, in the coming years.

Increasing usage of nuclear medicine.

The market is expected to surge in the coming years, due to the surging use of nuclear medicines, globally. Major regions have been making a significant impact in the market, in the past few years. In June 2021, it was reported that Europe is expected to make a substantial impact in the market, in the coming years. The joint paper from the European nuclear trade body, Nuclear Medicine Europe and Foratom, which represents imaging equipment and pharmaceutical companies, had stated that Europe must take extensive measures and initiatives to maintain the current level of radioisotopes supply. The joint paper had also stated that the European Union must promote novel research reactor capacity installations, along with the 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, in June 2021, The Center of Molecular Imaging and Theagnostic Therapy announced that they had opened a novel cutting edge nuclear center in Rivonia, which is expected to enhance the market growth in South Africa. The team of doctors operating in the center stated that the novel nuclear medicine would play an imperative role in the accurate treatment and diagnosis of critical and major diseases, such as cancer.

Global Medical Radiation Detection Market Scope:
Report Metric Details
 Market size value in 2019  US$886.759 million
 Market size value in 2026  US$1,303.354 million
 Growth Rate  CAGR of 5.66% from 2019 to 2026
 Base year  2019
 Forecast period  2021–2026
 Forecast Unit (Value)  USD Million
 Segments covered  Devices, Product, End Users, And Geography
 Regions covered  North America, South America, Europe, Middle East and Africa, Asia Pacific
 Companies covered  Biodex Medical Systems, Jefferson Lab Radiation Detectors & Imaging Group,   Excelitas Technologies Corp., Ludlum Measurements Inc., AMETEK Inc., Arktis   Radiation Detectors Ltd., Kromek Group Plc, Polimaster Ltd., Thermo Fisher   Scientific,  Landauer
 Customization scope  Free report customization with purchase

 

Segmentation:

  • By Devices
    • Gas-filled Detectors
    • Scintillation Detector
    • Semiconductor Detectors
  • By Product
    • Dosimeters
    • Portal Monitors
    • Others
  • By End Users
    • Hospitals & Clinics
    • Ambulatory Care Centers
    • Diagnostic Centers
  • By Geography
    • North America
      • USA
      • Canadá
      • Mexico
    • South America
      • Brazil
      • Argentina
      • Others
    • Europe
      • UK
      • Germany
      • France
      • Italy
      • Others
    • Middle East and Africa
    • Asia Pacific
      • Japan
      • China
      • India
      • South Korea
      • Thailand
      • Taiwan
      • Indonesia
      • Others

Frequently Asked Questions (FAQs)

Q1. What will be the medical radiation detection market size by 2026?
A1. The global medical radiation detection market is expected to reach a total market size of US$1,303.354 million by 2026.


Q2. What is the size of the global medical radiation detection market?
A2. Medical Radiation Detection Market was valued at US$886.759 million in 2019.


Q3. What are the growth prospects for the medical radiation detection market?
A3. The medical radiation detection market is expected to grow at a CAGR of 5.66% during the forecast period.


Q4. Who are the major players in the medical radiation detection market?
A4. Prominent key market players in the medical radiation detection market include Biodex Medical Systems, Jefferson Lab Radiation Detectors & Imaging Group, Excelitas Technologies Corp., Ludlum Measurements Inc., AMETEK Inc. among others.


Q5. What factors are anticipated to drive the medical radiation detection market growth?
A5. The medical radiation detection market growth may be attributed to the increasing usage of nuclear medicine and radiation therapy for diagnosis and treatment along with the increasing safety awareness among people working in radiation-prone environments.

1. Introduction
1.1. Market Definition
1.2. Market Segmentation

2. Research Methodology
2.1. Research Data
2.2. Assumptions
3. Executive Summary
3.1. Research Highlights

4. Market Dynamics
4.1. Market Drivers
4.2. Market Restraints
4.3. Porters Five Forces Analysis
4.3.1. Bargaining Power of Suppliers
4.3.2. Bargaining Power of Buyers
4.3.3. The Threat of New Entrants
4.3.4. Threat of Substitutes
4.3.5. Competitive Rivalry in the Industry
4.4. Industry Value Chain Analysis

5. Global Medical Radiation Detection Market Analysis, By Devices 
5.1. Introduction
5.2. Gas-filled Detectors
5.3. Scintillation Detector
5.4. Semiconductor Detectors

6. Global Medical Radiation Detection Market Analysis, By Product
6.1. Introduction
6.2. Dosimeters
6.3. Portal Monitors
6.4. Others

7. Global Medical Radiation Detection Market Analysis, By End Users
7.1. Introduction
7.2. Hospitals & Clinics
7.3. Ambulatory Care Centers
7.4. Diagnostic Centers

8. Global Medical Radiation Detection Market Analysis, By Geography 
8.1.  Introduction
8.2.  North America
8.2.1. United States
8.2.2. Canada
8.2.3. Mexico
8.3. South America
8.3.1. Brazil
8.3.2. Argentina
8.3.3. Others
8.4. Europe
8.4.1. UK
8.4.2. France
8.4.3. Germany
8.4.4. Italy
8.4.5. Others
8.5. Middle East and Africa 
8.6. Asia Pacific
8.6.1. Japan
8.6.2. China
8.6.3. India
8.6.4. Thailand
8.6.5. Taiwan
8.6.6. Indonesia
8.6.7. Others

9.  Competitive Environment and Analysis
9.1. Major Players and Strategy Analysis
9.2.  Emerging Players and Market Lucrativeness
9.3.  Mergers, Acquisitions, Agreements, and Collaborations
9.4.  Vendor Competitiveness Matrix

10. Company Profiles
10.1. Biodex Medical Systems
10.2. Jefferson Lab Radiation Detectors & Imaging Group
10.3. Excelitas Technologies Corp.
10.4. Ludlum Measurements Inc.
10.5. AMETEK Inc.
10.6. Arktis Radiation Detectors Ltd.
10.7. Kromek Group Plc
10.8. Polimaster Ltd.
10.9. Thermo Fisher Scientific
10.10. Landauer

Biodex Medical Systems

Jefferson Lab Radiation Detectors & Imaging Group

Excelitas Technologies Corp.

Ludlum Measurements Inc.

AMETEK Inc.

Arktis Radiation Detectors Ltd.

Kromek Group Plc

Polimaster Ltd.

Thermo Fisher Scientific

Landauer

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