Medical Radiation Shielding Market Size, Share and Global Trend By Imaging Equipment (X-Ray, Magnetic Resonance Imaging (MRI),Computed Tomography, Ultrasound, Others), By Product (Building Materials (Sheet Lead, Bricks, Curtain, and Others), Wearables, Others), By End User (Hospitals, Diagnostic Centres, Cancer Centres, Biopharmaceutical Companies, Others) and Regional Forecast, 2024-2032
KEY MARKET INSIGHTS
Medical radiation includes radiation exposure to the patients and healthcare workforce due to radiography systems such as X-Rays, magnetic resonance imaging (MRI), nuclear imaging and others. All these systems are majorly used by hospitals, dentists, ambulatory surgical centers and diagnostics centers. Certain side effects such as acute radiation sickness, probability of getting affected by cancer, eye damage, chromosome aberration, dermal injury and nervous system damage are caused due to medical radiation.
In order to minimize and prevent medical radiation exposure, certain regulatory authorities such as FDA (Food and Drug Administration) and Ionising Radiation (Medical Exposure) Regulations (IR(ME)R) are formulating strict norms and emphasizing on their implementations.
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Rising prevalence of medical radiation exposure is prominently driving the global medical radiation shielding market. Additionally, rising emphasis on implementation of regulations by government authorities and certain benefits provided by medical radiation shielding such as prevention from radiation exposure, minimal maintenance cost, a growing number of medical imaging diagnostic systems and ease of use are expected to boost the growth of the global medical radiation shielding market during the forecast period.
However, the reluctance of healthcare institutions to install radiation shielding systems and lack of expertise in medical radiation shielding are expected to restrain the growth of the global medical radiation shielding market.
Key Players Covered
Some of the major companies that are present in the global medical radiation shielding market are ETS-Lindgren, Radiation Protection Products, Inc., Veritas Medical Solutions LLC, RAY-BAR ENGINEERING CORP., Gaven Industries Inc., Global Partners in Shielding, Inc., MEDICAL SHIELDING SOLUTIONS, Mars Metal Company, Nuclear Lead Co. Inc., A&L Shielding and others.
SEGMENTATION
SEGMENTATION | DETAILS |
By Imaging Equipment | · X-Ray · Magnetic Resonance Imaging (MRI), · Computed Tomography · Ultrasound · Others |
By Product | · Building Materials (Sheet Lead, Bricks, Curtain, and Others) · Wearables · Others |
By End User | · Hospitals · Diagnostic Centres · Cancer Centres · Biopharmaceutical Companies · Others |
By Geography | · North America (USA and Canada) · Europe (UK, Germany, France, Italy, Spain, Scandinavia and Rest of Europe) · Asia Pacific (Japan, China, India, Australia, Southeast Asia and Rest of Asia Pacific) · Latin America (Brazil, Mexico and Rest of Latin America) · Middle East & Africa (South Africa, GCC and Rest of Middle East & Africa) |
Among the segmentation, Building Materials segment is anticipated to hold a significant share in the market owing to higher adoption and effectiveness in medical radiation shielding.
Key Insights
- Technological advancements in medical shielding radiation market strategies of major players
- Recent industry developments such as partnerships, mergers, and acquisitions
Regional Analysis
Currently, North America is expected to dominate the global medical radiation shielding market owing to the rising prevalence of disorders due to medical radiation exposures. Moreover, a growing number of diagnostic imaging systems is anticipated to play an important role in higher growth of the global medical radiation shielding market. According to research conducted by Organisation for Economic Co-operation and Development, number of magnetic resonance imaging systems grew by 369 during 2016-2017 in the U.S. alone. The Asia Pacific and Middle East & Africa also hold huge potential for growth of the global medical radiation shielding market owing to growing medical radiation exposure and increasing number of imaging diagnostic systems. Additionally, protection and safety offered by medical shielding equipment is expected to grow the demand for medical radiation shielding during the forecast period.
Key Industry Developments
- In June 2019, Corning Incorporated got FDA approval for their two products, Corning Med-X Glass and Corning Med-Gamma Glass which can be installed at various radiation prone areas with aim to avoid radiation exposures.
- In September 2016, British Institute of Radiology (BIR) launched new radiation safety guidance for healthcare resources with aim to prevent radiation exposure amongst them. The new guidance provides information about radiation shielding methods, shielding materials, and risk assessments.
- Ongoing
- 2023
- 2019-2022
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