Growth in the medical radiation detection and monitoring market is mainly driven by factors such as increasing usage of Nuclear Medicine and radiation therapy for diagnosis and treatment, growing worldwide prevalence of cancer, increasing safety awareness among people working in radiation-prone environments, and the growing number of people covered by insurance. On the other hand, product approval delays due to stringent regulatory guidelines are expected to challenge market growth to a certain extent.
On the basis of detector, the medical radiation detection and monitoring market is segmented into gas-filled detectors, scintillators, and solid-state detectors. In 2016, the gas-filled detectors segment dominated the global medical radiation detection and monitoring market. The growth of this segment is mainly due to the favorable performance-to-cost ratio of gas-filled detectors coupled with their wide application in the medical imaging field.
On the basis of product, the medical radiation detection and monitoring market is classified into personal dosimeters, area process monitors, environment radiation monitors, surface contamination monitors, radioactive material monitors, and other products. In 2016, the personal dosimeters segment accounted for the largest share of the medical radiation detection and monitoring market. The growth of this segment can be attributed to the high demand for personal dosimeters in the medical field.
On the basis of end user, the medical radiation detection, monitoring, and safety market is segmented into hospitals and non-hospitals. In 2016, the hospitals segment accounted for the largest share and is projected to grow at the highest rate during the forecast period. The increasing number of hospitals across the globe is a major factor fueling the market growth in this end-user segment.
Geographical Analysis:
The global medical radiation detection market is dominated by North America, followed by Europe, Asia, and the Rest of the World (RoW). In 2016, North America accounted for the largest share of the global market. However, Asia is expected to witness the highest CAGR during the forecast period. This growth can be attributed to the growing number of hospitals, rising incidence of cancer, increasing installations of radiological imaging systems, and rising adoption of radiation therapy for the treatment of diseases.
The key players in the global medical radiation detection, monitoring, and safety market are Landauer, Inc. (U.S.), Mirion Technologies, Inc. (U.S.), IBA Worldwide (Belgium), Thermo Fisher Scientific (U.S.), Sun Nuclear Corporation (U.S.), Ludlum Measurements, Inc. (U.S.), Radiation Detection Company, Inc. (U.S.), Biodex Medical Systems, Inc. (U.S.), Arrow-Tech, Inc. (U.S.), Fluke Biomedical (U.S.), AmRay Medical (Ireland), Infab Corporation (U.S.), and PTW Freiburg GmbH (Germany).
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