Medical Radiation Detection Market

Market Overview

The global medical radiation detection market size was valued at USD 1.28 billion in 2022. It is projected to reach USD 2.19 billion by 2031, growing at a CAGR of 6.92% during the forecast period (2023-2031).

Medical equipment that can identify radiation is known as a medical radiation detector. A person is more likely to develop several severe diseases if exposed to radiation over an extended period. This increases the need for technology to gauge how much radiation is building up inside the body. Some of the most useful detectors for tracking down radioactive materials and ionizing radiation are the handheld survey meter (HSM), personal radiation detector (PRD), radiation portal monitor (RPM), and radiation isotope identification device (RIID). Different radiation-detecting tools might become accessible for use at home as technology develops. Gamma rays, the most significant external radioactive threat, can be found with dosimeters, which are medical radiation detectors.

Highlights

• Gas-filled detectors dominate the detector type segment.
• Personal dosimeters dominate the medical radiation detection and monitoring product segment.
• Full-body protection dominates the medical radiation safety product segment.
• Hospitals dominate the end-user segment.
• North America is the most significant shareholder in the global market.

Market Dynamics

Global Medical Radiation Detection Market Drivers

Rising Cancer Treatment

The International Agency for Research on Cancer (IARC) estimated that 10 million people died from cancer in 2020, making it the second-leading cause of death worldwide. Cancer is the cause of approximately one in every six deaths that occur around the world. The increasing rates of cancer diagnosis and treatment with radiation and nuclear medicine, the widespread use of radioactive isotopes as feedstock for nuclear medicine, and the growing awareness of the dangers of radioactive materials used in radiation therapy all contribute to this market's rapid growth.

Radiation therapy is generally used for cancer treatment. Therefore, many businesses now sell personal dosimeters and automated systems for controlling personal dosimetry to lower the risk of radiation exposure for medical personnel. The market will be driven by an expanding global cancer patient population and the usage of radiation therapy to kill cancer cells.

Global Medical Radiation Detection Market Restraint

Stringent Regulatory Requirements

Medical radiation is regulated uniformly across all nations by regulatory departments and bodies. For instance, the US Department of Labour has established standards for radiation protection through the US Department of Energy (DOE), National Council on Radiation Protection (NCRP), International Commission on Radiological Protection (ICRP), and Nuclear Regulatory Commission (NRC). These departments have put several regulations in place to approve products for the detection, monitoring, and safety of medical radiation. However, these strict requirements result in lengthened timescales for the product approval procedure.

In addition, the market has a fair amount of consolidation. A combined majority of the market share was held by the leading players, including Fortive (US), Mirion Technologies, Inc. (US), Thermo Fisher Scientific Inc. (US), Ludlum Measurements, Inc. (US), and IBA Worldwide (Belgium). The market's participants compete fiercely with one another. As a result, only large businesses can afford high capital expenditures, high costs of R&D, and high manufacturing costs. This effectively shuts the door on any potential new entrants to the market, restraining market growth.

Global Medical Radiation Detection Market Opportunities

Technological Advancements

In renowned institutions, intensive research is being done to create new methods for identifying and calculating radiation exposure during medical procedures. For instance, a new X-ray detector prototype developed by scientists at Argonne National Laboratory and Los Alamos National Laboratory, according to a report in Eureka Alert from April 2020, will revolutionize a by significantly reducing radiation exposure and associated health risks while also enhancing resolution in security scanners and research applications.

Segmental Analysis

The global medical radiation detection market is segmented into detector type, medical radiation detection and monitoring product, medical radiation safety product, and end-user.

Based on the detector type, the global medical radiation market is bifurcated into gas-filled detectors, scintillators, and solid-state detectors.

The gas-filled detectors segment is the highest contributor to the market and is expected to grow significantly over the forecast period. The segment held the highest market share of over 42.03% in 2022. The segment is gaining popularity because it has several advantages over other radiation detectors. For instance, gas-filled detectors are excellent for use in areas where radiation levels need to be closely monitored since they are highly sensitive to ionizing radiation and can detect very low amounts of radiation. Gas-filled detectors are adaptable and suited for various applications because they can detect radiation types, such as alpha particles, beta particles, gamma rays, and X-rays.

Solid-state detectors are anticipated to increase at the fastest CAGR over the forecast period. Solid-state detectors can detect ionizing radiation effectively by turning a significant percentage of the incident radiation into an electrical signal. They are now able to accurately detect radiation at very low levels. For instance, the U.S. Nuclear Regulatory Commission claims that solid-state detectors are more effective at detecting low-energy gamma rays than gas-filled detectors.

Based on the medical radiation detection and monitoring products, the global medical radiation detection market is segmented into personal dosimeters, area process monitors, environment radiation monitors, surface contamination monitors, radioactive material monitors, and other medical radiation detection and monitoring product.

The personal dosimeters segment owns the highest market share. The market is further segmented into personal dosimeters, area process monitors, environmental radiation monitors, surface contamination monitors, radioactive material monitors, and other medical radiation detection and monitoring products. Factors like increased radiological operations worldwide and a greater awareness of the necessity for radiation safety among medical personnel are expected to drive segment growth. 

Based on medical radiation safety products, the medical radiation detection market is divided into full-body protection, face protection, hand safety, and other medical radiation safety products.

The full-body protection segment is the highest contributor to the market and is expected to grow significantly over the forecast period. The large share of this segment can be attributed primarily because physicians, radiologists, and patients becoming more aware of radiological procedures and their rising frequency. 

Based on end-user, the medical radiation detection market is divided into hospitals and non-hospitals.

The hospital segment held an enormous market share of around 38.07% in 2022. Medical imaging techniques like X-rays, CT scans, and PET scans are becoming more popular as the number of older people and people with chronic diseases grows. According to United Nations projections, there were around 703 million individuals over 65 worldwide in 2019, driving the industry. In order to make sure that patients receive the right amount of radiation and to prevent overexposure, medical radiation detectors are crucial in these operations.

The imaging center sector is expected to grow quickly over the forecast period because of advances in medical radiation technology that have led to more accurate, reliable, and user-friendly detectors. For instance, some detectors now use solid-state detectors and offer greater efficiency and sensitivity than gas-filled detectors.

Regional Analysis

Based on region, the global medical radiation detections market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.

North America Dominates the Global Market

North America is the most significant global medical radiation detection market shareholder and is predicted to exhibit a CAGR of 6.12% during the forecast period. The significant market share of radiation detection, monitoring, and safety in North America is attributed to the region's favorable government initiatives, a higher number of operational nuclear power plants, rising cancer incidence, and rising radiation safety awareness. Several market suppliers (including Thermo Fischer Scientific, Mirion Technologies, Ludlum Measurement, Ametek, Ultra Electronics, and Landauer) are based in the United States, which is expected to contribute to the industry's growth over the forecast period. According to the EIA, the US nuclear power plant's capacity to produce energy increased by 4.4 gigawatts in 2020. In addition, numerous new nuclear power plants are being built in Georgia and South Carolina, showing the potential for the demand for radiation monitoring and detection products (for example, the EIA reports that two new nuclear reactors with a combined capacity of 1100 MW are being built in Georgia). The country's radiation detection, monitoring, and safety technologies market is projected to benefit from strict laws for employees' safety in the nuclear industry.

In addition, mechanized radiation monitoring and inspection of oil and gas pipelines have recently replaced the previously used manual application of ultrasound. These developments demonstrate that increased emphasis is being placed on making the tests increasingly automated, which will help the market grow, as some test sites require experts to operate in challenging site conditions, which can be carried out by drone application.

Recent Developments

• October 2022- Carestream Health expanded its family of DR Detectors with two new 100-micron pixel pitch detectors. The Focus HD 35 and Focus HD 43 offers high resolution and definition for improved image quality—and were exhibited at the Radiological Society of North America (RSNA) 2022 conference.