Medical Radiation Detection Devices - Market Insights, Competitive Landscape, and Market Forecast - 2030

Medical Radiation Detection Devices Market By Product Type (Geiger-Muller Counters, Dosimeters, Scintillation Detectors, Others), End-User (Hospitals And Clinics, Research Laboratories, Diagnostic Imaging Centers, Others), And Geography (North America, Europe, Asia-Pacific, And Rest Of The World) is expected to grow at a steady CAGR forecast till 2030 owing to rising cases of cancers globally, increasing adoption of diagnostic imaging modalities, among others during the forecast period.

The medical radiation detection devices market is estimated to grow at a CAGR of 6.81% during the forecast period from 2024 to 2030. The demand for medical radiation detection devices is primarily being boosted due to the rising cases of cancers globally, increasing adoption of diagnostic imaging modalities such as X-rays, CT scans and MRI scans, that monitor and control the radiation exposure to both patients and healthcare workers, thus serving as other key factors driving the growth of the medical radiation detection device market during the forecast period from 2024 to 2030.

Medical Radiation Detection Devices Market Dynamics:

According to data provided by the World Health Organization (WHO) in February 2024, the International Agency for Research on Cancer (IARC) stated that 20 million new instances of cancer were registered in 2022 globally. Additionally, as per the same source, lung cancer accounted for 2.5 million new cases globally, of all the registered new cancer cases, making it the most common cancer. Next in the order of incidence was breast cancer with 2.3 million cases, colon cancer with 1.9 million cases, and stomach cancer with 0.97 million cases globally.

Global Cancer Observatory in February 2024 further stated that Asia accounted for 49.2% of all cancer cases, Europe accounted for 22.4% of cancer cases, and Africa accounted for 5.9% of cases in 2022. Since all these cases highlight of the disproportionate distribution of cancer cases across different regions, there's a pressing need for enhanced diagnostic and treatment technologies, including radiation detection devices for early detection, precise treatment delivery, and monitoring of cancer progression. Thus, the rising cases of cancers will create a need for the treatment of cancers globally, therefore resulting in the positive growth of the medical radiation detection devices market.
According to WHO’s data in July 2023, it stated that the radiation used for medical purposes constituted 98% of the population dose contribution from all human-made sources such as X-rays and comprises 20% of the total population exposure. Globally, over 4.20 billion diagnostic radiology examinations are conducted annually, alongside 40 million nuclear medicine procedures and 8.5 million radiotherapy treatments administered yearly on an average.

Therefore, the increased utilization of diagnostic imaging procedures globally are resulting in the positive growth of the medical radiation detection devices market.
Hence, the interplay of all the factors mentioned above such as the growing number of cancers and the increased number of diagnostic imaging procedures are expected to drive the market for medical radiation detection devices during the given forecast period.

However, the shortage of trained professionals, stringent laws & compliance regulations, and delays in product approvals due to rigorous government rules may limit their end-user base, thus acting as key restraints limiting the growth of the medical radiation detection devices market.

Medical Radiation Detection Devices Market Segment Analysis:

Medical Radiation Detection Devices Market by Product Type (Geiger-Muller Counters, Dosimeters, Scintillation Detectors, Others), End-User (Hospitals and Clinics, Research Laboratories, Diagnostic Imaging Centers, Others), and Geography (North America, Europe, Asia-Pacific, and Rest of the World)

In the product type segment of the medical radiation detection devices market, the Geiger-Muller (GM) counters medical radiation detection devices category is estimated to amass a significant revenue share in the medical radiation detection devices market in 2023. This can be attributed to the various advantages and applications provided by GM counters medical radiation detection devices. These are essential devices for initial radiation detection and safety monitoring.

GM counters have a high level of sensitivity to beta and gamma radiation, which makes them ideal for fast and accurate detection a critical safety feature in settings where radiation exposure is possible. GM counters provide instantaneous feedback through auditory clicks or visual readouts, enabling real-time monitoring and prompt decision-making in potentially dangerous situations. GM counters are a vital device for radiation detection and safety procedures because of all these properties.

Since GM counters are highly versatile and feature-rich devices that improve radiation safety procedures, they reduce the danger of radiation exposure, and foster a radiation safety culture in healthcare environments.

Therefore, the various advantages and applications provided by the Geiger-Muller counters category is expected to contribute to the growth of the segment, thereby driving the growth of the overall medical radiation detection devices market during the forecast period.

North America Is Expected To Dominate The Overall Medical Radiation Detection Devices Market:

North America is expected to account for the highest proportion of the medical radiation detection devices market in 2023, out of all regions. This is due to the rising cases of chronic diseases such as cancers that need effective treatment options like radiotherapy and chemotherapy. The increasing number of cardiovascular and respiratory disorders, in which diagnostic imaging contributes significantly to radiation exposure, and the presence of a well-developed and sophisticated healthcare infrastructure in the region are some of the key factors driving the growth of the medical radiation detection devices market in North America.

National Cancer Institute in 2024 estimated that 2 million new cases of cancer will be diagnosed in the US by the end of 2024. Furthermore, it is estimated that prostate, lung, and colorectal cancers are to represent approximately 48% of all cancer diagnoses in men. For women, the most prevalent cancers are breast, lung, and colorectal, that are expected to account for about 51% of all new cancer diagnoses. Additionally, it estimated that 14,910 children and adolescents aged 13 to 19 will be diagnosed with cancer.
According to Global Cancer Observatory’s updated data in February 2024, the US represented 89.1% of all cancer cases and Canada represented 10.9% of all cancer cases in the North American region in 2022. Since above data provided underscores the critical need for effective treatment options such as radiotherapy and chemotherapy, it highlights the relevance and importance of medical radiation detection devices. These devices are essential for ensuring accurate delivery of radiation & chemotherapy, monitoring radiation doses, and protecting both patients and healthcare providers from unnecessary exposure. As the prevalence of cancer continues to rise, the market for medical radiation detection devices is set to expand.

According to the latest updated data provided by the Centres for Disease Control and Prevention (CDC) (2024), it was stated that 805,000 people in the US have a heart attack every year on average. Heart attacks need Coronary angiography (CAG) which is often performed after a heart attack to assess the extent and severity of coronary artery disease (CAD). CAG is a crucial tool for assessing the severity and extent of coronary artery disease (CAD) through X-ray imaging and hence the demand for medical radiation detection devices is expected to rise significantly.
According to American Lung Association data updated in April 2024, it stated that more than 34 million people were living in the U.S. live with chronic lung diseases like asthma and COPD. Since Computed tomography (CT) is widely used as an imaging tool for lung diseases. Consequently, the increasing reliance on CT imaging for chronic lung disease diagnosis will stimulate the need for medical radiation detection devices.

Thus, the rising instances of cancer, along with the increased number of cardiovascular & respiratory disorders in the US, among others are key factors driving the growth of medical radiation detection devices market, which will eventually drive the overall market for medical radiation detection devices in North America during the forecast period.

Medical Radiation Detection Devices Market Key Players:

Some of the key market players operating in the Medical Radiation Detection Devices market include Thermo Fisher Scientific Inc., Ludlum Measurements, Inc., Mazur Instruments, S.E. International, Inc, SOEKS USA, Sullivan Street, Danaher, ADM Systems, UAB Polimaster Europe, Canon Inc, HÖRMANN, Mirion Technologies, Inc., Varex Imaging, LND, INC, LAURUS Systems, Spectrum Techniques, LLC., Berthold Technologies GmbH & Co.KG, Baltic Scientific Instruments, Zecotek Photonics Inc., HAMAMATSU PHOTONICS K.K., and others.

Recent Developmental Activities In The Medical Radiation Detection Devices:

• In February 2023, Thermo Fisher Scientific Inc. launched the hands free radiation detection technology that aids in the removal of safety hazards by site security staff.
• In January 2023, VPI Technology was acquired by Ludlum Measurements, Inc. that had solid foundation and expertise in the field of radiation detection. As a result, they were able to better meet the needs of consumers because of the synergies of their merged businesses.
• In December 2021, Mirion Technologies, Inc., a worldwide organization of solutions for detection, measurement, analysis, and monitoring to the nuclear, defense, medical, announced that it acquired Computerized Imaging Reference Systems, Inc., a top supplier of radiation treatment and medical imaging phantoms to the healthcare sector.

Key Takeaways From The Medical Radiation Detection Devices Market Report Study

• Market size analysis for current medical radiation detection devices market size (2023), and market forecast for 6 years (2024-2030)
• Top key product/technology developments, mergers, acquisitions, partnerships, and joint ventures happened for the last 3 years
• Key companies dominating the global medical radiation detection devices market.
• Various opportunities available for the other competitors in the medical radiation detection devices market space.
• What are the top-performing segments in 2023? How these segments will perform in 2030?
• Which are the top-performing regions and countries in the current medical radiation detection devices market scenario?
• Which are the regions and countries where companies should have concentrated on opportunities for medical radiation detection devices market growth in the coming future?

Target Audience Who Can Be Benefited From The Medical Radiation Detection Devices Market Report Study

• Medical radiation detection devices product providers
• Research organizations and consulting companies
• Medical radiation detection device-related organizations, associations, forums, and other alliances
• Government and corporate offices
• Start-up companies, venture capitalists, and private equity firms
• Distributors and traders dealing in medical radiation detection devices
• Various end-users who want to know more about the medical radiation detection devices market and the latest technological developments in the medical radiation detection devices market.

Frequently Asked Questions For The Medical Radiation Detection Devices Market:

1. What are medical radiation detection devices?

Medical radiation detection devices are used to detect and monitor ionizing radiation in healthcare environments. These instruments ensure the safety of both patients and healthcare workers by accurately detecting and quantifying radiation exposure during diagnostic imaging and radiation therapy procedures.

2. What is the market for medical radiation detection devices?

The medical radiation detection devices market is estimated to grow at a CAGR of 6.81% during the forecast period from 2024 to 2030.

3. What are the drivers for the global medical radiation detection devices market?

The demand for medical radiation detection devices is primarily being boosted due to the rising cases of cancers globally, increasing adoption of diagnostic imaging modalities such as X-rays, CT scans and MRI scans, that monitor and control the radiation exposure to both patients and healthcare workers, thus serving as other key factors driving the growth of the medical radiation detection device market during the forecast period from 2024 to 2030.

4. Who are the key players operating in the global medical radiation detection devices market?

Some of the key market players operating in the medical radiation detection devices include Thermo Fisher Scientific Inc., Ludlum Measurements, Inc., Mazur Instruments, S.E. International, Inc, SOEKS USA, Sullivan Street, Danaher, ADM Systems, UAB Polimaster Europe, Canon Inc, HÖRMANN, Mirion Technologies, Inc., Varex Imaging, LND, INC, LAURUS Systems, Spectrum Techniques, LLC., Berthold Technologies GmbH & Co.KG, Baltic Scientific Instruments, Zecotek Photonics Inc., HAMAMATSU PHOTONICS K.K., and others.

5. Which region has the highest share in the global medical radiation detection devices market?

North America is expected to dominate the overall medical radiation detection devices market during the forecast period from 2024 to 2030. This is due to the rising instances of chronic diseases such as cancer that need effective treatment options like radiotherapy and chemotherapy. The increasing number of cardiovascular and respiratory disorders, in which diagnostic imaging contributes significantly to radiation exposure, and the presence of a well-developed and sophisticated healthcare infrastructure in the region are some of the key factors driving the growth of the medical radiation detection devices market in North America.