Medical Radiation Detection, Monitoring & Safety Global Market Report 2022: Ukraine-Russia War Impact

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Dec 02, 2022, 08:30 ET

NEW YORK, Dec. 2, 2022 /PRNewswire/ --

Major players in Medical radiation detection, monitoring & safety market are Fortive, Mirion Technologies Inc., Thermo Fisher Scientific Inc., Ludlum Measurements Inc., Radiation Detection Company (RDC) Inc, Atomtex, IBA Worldwide, Scionix, RadComm Systems, Micron Semiconductor Ltd, Bar-ray Products Inc, Bertin Technologies SAS, Centronic Ltd, Fluke Biomedical, Burlington Medical, and AliMed Inc. are major players in the medical radiation detection, monitoring, and safety market.

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The global medical radiation detection, monitoring, and safety market is expected to grow from $1.56 billion in 2021 to $1.68 billion in 2022 at a compound annual growth rate (CAGR) of 7.9%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, surge in commodity prices, and supply chain disruptions, effecting manyevery markets across the globe. The medical radiation detection, monitoring, and safety market is expected to grow to $2.27 billion in 2026 at a CAGR of 7.9%.

The medical radiation detection, monitoring, and safety market consists of sales of medical radiation detection, monitoring, and safety services by entities (organizations, sole traders, and partnerships) that are used for radiation monitoring and detection during medical procedures. Medical radiation detection, monitoring, and safety equipment are designed for detecting and monitoring the intensity of radiation and also protecting the users from the harmful effects of radiation.

The main types of medical radiation detection, monitoring, and safety products in the market are personal dosimeters, area process monitors, environmental radiation monitors, surface contamination monitors, radioactive material monitors, and other medical radiation detection and monitoring products.Personal dosimeters refer to devices worn by an individual for a set period and sent to a facility that analyses the radiation dose.

It can also be examined at the location.The various safety products include full-body protection, face protection, hand safety, and other medical radiation safety products.

The various detectors are gas-filled detectors, scintillators, and solid-state detectors and are used in hospitals and non-hospitals.

North America will be the largest region in the medical radiation detection, monitoring, and safety market in 2021.Asia-Pacific is expected to be the fastest-growing region in the forecast period.

The regions covered in this medical radiation detection, monitoring, and safety market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.

The high prevalence of cancers is expected to propel the growth of the medical radiation detection, monitoring, and safety market going forward.Cancer is a disease condition where certain cells in the body multiply uncontrollably and spread to other parts of the body.

As radiation therapy and nuclear medicine expose cancer patients to dangerous radioactive particles or radiation, medical radiation detection, monitoring, and safety equipment are used to protect the patient from harmful radiation and also detect and monitor the radiation levels.For instance, according to the World Health Organization, a Switzerland-based specialised agency of the United Nations responsible for international public health, in 2020, cancer accounted for approximately 10 million deaths, or about 1 person in every 6 people.

Therefore, the high prevalence of cancers is driving the growth of the medical radiation detection, monitoring, and safety market.

Research and development for technological advancement is a key trend gaining popularity in the medical radiation detection, monitoring, and safety market.Major companies are investing in R &D activities to develop new products and support innovation.

For instance, Mirion Technologies, Inc., a US-based nuclear monitoring and detection systems provider, reported that R&D expenses were $29.4 million in the year 2021, an increase of $13.5 million, or 84.9%, over the year 2020. The increase in R&D spending of $2.5 million for new product development, such as evrCAM, a new product that leverages the companyâ€™s core technology of radiation-tolerant cameras for the nuclear power industry, to fulfil the needs of the radiation oncology business.

In January 2020, Mirion Technologies Inc., a US-based nuclear monitoring and detection systems provider, acquired Capintec Inc. for an undisclosed amount. This acquisition is expected to expand Mirionâ€™s footprint in the medical market by providing broader product and service offerings. Capintec Inc. is a US-based radiation measuring and monitoring instrumentation company with applications in nuclear medicine, nuclear cardiology, oncology, endocrinology, diagnostic radiology, and radiation therapy.

The countries covered in the medical radiation detection, monitoring and safety market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

The medical radiation detection, monitoring, and safety market research report is one of a series of new reports that provides medical radiation detection, monitoring, and safety market statistics, including medical radiation detection, monitoring, and safety industry global market size, regional shares, competitors with medical radiation detection, monitoring, and safety market share, detailed medical radiation detection, monitoring, and safety market segments, market trends and opportunities, and any further data you may need to thrive in the medical radiation detection, monitoring, and safety industry. This medical radiation detection, monitoring, and safety market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

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