Medical Radiation Detection Market Report 2024

The medical radiation detection market size has grown strongly in recent years. It will grow from $0.71 billion in 2023 to $0.77 billion in 2024 at a compound annual growth rate (CAGR) of 8.1%. The growth in the historic period can be attributed to several factors, early advancements in radiation measurement techniques, establishment of regulatory frameworks for radiation safety, developments in diagnostic imaging modalities, increasing utilization of radiation in medical procedures, and evolving insights into the effects of radiation on health.

The medical radiation detection market size is expected to see strong growth in the next few years. It will grow to $1.05 billion in 2028 at a compound annual growth rate (CAGR) of 8.3%. The growth in the forecast period can be attributed to several factors, technological advancements in sensor technology, stricter regulatory requirements for radiation safety, increasing prevalence of cancer and chronic diseases, rising adoption of nuclear medicine and radiation therapy, and growing demand for accurate and efficient diagnostic imaging. Major trends expected during this period include the integration of artificial intelligence for real-time data analysis, the development of compact and portable detection devices, advancements in radiation dose monitoring and optimization techniques, greater utilization of hybrid imaging technologies, and enhancements in connectivity for remote monitoring and data sharing.

The medical radiation detection market is poised for growth driven by the increasing incidence of cancer. Cancer encompasses various diseases characterized by abnormal cell growth that can potentially spread throughout the body. Factors contributing to the rise in cancer cases include aging populations, lifestyle choices such as smoking and diet, environmental factors such as pollution and UV radiation, genetic predisposition, and advancements in cancer detection and screening technologies. Medical radiation detection plays a critical role in cancer prevention by ensuring precise and safe exposure levels during diagnostic imaging and therapy, thereby minimizing health risks for patients and healthcare providers. For example, according to the Australian Institute of Health and Welfare in July 2024, the number of cancer cases diagnosed in Australia increased from 156,781 in 2021 to 160,570 in 2022, underscoring the driving force behind the expansion of the medical radiation detection market.

Key players in this market are focused on developing advanced solutions, such as photon-counting detectors, to maintain competitiveness. Photon-counting detectors are sensors capable of detecting and counting individual photons, offering high-resolution imaging with low noise levels. Siemens Healthineers, a Germany-based healthcare company, exemplifies this innovation with the launch of MAGNETOM Free.Star and NAEOTOM Alpha in March 2022. MAGNETOM Free.Star, leveraging their High-V MRI Platform, introduces DryCool technology for near-helium-free operation and simplified installation. Meanwhile, NAEOTOM Alpha stands as the world's first photon-counting CT scanner, featuring the QuantaMax detector for high-resolution imaging, minimal radiation exposure, spectral information in every scan, and enhanced contrast with reduced noise levels.

In June 2021, Goldman Sachs Group Inc., a US-based investment bank, acquired Mirion Technologies Inc. for $2.6 billion, bolstering its portfolio in medical radiation detection solutions. Mirion Technologies Inc., based in the US, specializes in providing advanced technologies for radiation detection.

Major companies operating in the medical radiation detection market are Mirion Technologies Inc, MP BIOMEDICALS LLC, Trivitron Healthcare, Ludlum Measurements Inc, Biodex Medical System Inc, Narang Medical, ATOMTEX CO, AMETEK ORTEC, Berkeley Nucleonics, Bar-Ray Products, IBA Dosimetry GmbH, Centronic Ltd, LND Ltd, Polimaster Inc, Scionix Holland, Alpha Spectra Inc, Arrow-Tech Inc, Bertin Instruments, LANDAUER, Luxium Solutions, Nucleonix Systems, SE International Inc, NUVIATech Instruments, Mi-Net Technology, Seair Exim Solutions.

North America was the largest region in the medical radiation detection market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the medical radiation detection market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

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

Medical radiation detection involves the detection and measurement of ionizing radiation used in medical settings, encompassing equipment and devices designed to monitor radiation exposure levels for the safety of patients, healthcare workers, and the general public.

The main types of products in medical radiation detection include personal dosimeters, area process dosimeters, surface contamination monitors, and other specialized devices. Gas-filled detectors function by ionizing gas within a chamber, generating an electric charge that can be quantified. They are complemented by scintillators and solid-state detectors, each serving distinct roles in radiation measurement. These detection systems are categorized into safety products such as aprons, shields, face masks, gloves, and full-body protection gear, among others. End users span hospitals, clinics, ambulatory surgical centers, non-hospital facilities, and other relevant sectors within the medical field.

The medical radiation detection market research report is one of a series of new reports that provides medical radiation detection market statistics, including the medical radiation detection industry global market size, regional shares, competitors with a medical radiation detection market share, detailed medical radiation detection market segments, market trends, and opportunities, and any further data you may need to thrive in the medical radiation detection industry. This medical radiation detection 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.

The medical radiation detection market consists of sales of radiation detection instruments, area monitors, environmental radiation monitors, and radioactive material identification devices. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


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