The medical radiation shielding market involves products for shielding ionizing radiation emitted during medical imaging and radiation therapy procedures. Radiation shields help protect patients and medical staff from unwanted radiation exposure during procedures like X-rays, computed tomography (CT) scans, fluoroscopy, mammography, and nuclear medicine studies. They come in various forms like barrier curtains, ceiling-suspended screens, portable shields, aprons, thyroid collars and eye masks. Rising prevalence of cancer and increasing use of medical imaging technologies drive the need for radiation shielding products to ensure safety of patients and workers.
The Global Medical Radiation Shielding Market is estimated to be valued at US$ 1.22 Bn in 2024 and is expected to exhibit a CAGR of 4.8% over the forecast period 2024 To 2031.
Key Takeaways
Key players operating in the medical radiation shielding market are Marswell Group of Companies, Mirion Technologies, Inc., Esco Micro Pte. Ltd., MAVIG GmbH., Burlington Medical, Gaven Industries, Inc., Nelco, Inc., Marshield, Radiation Protection Products, Inc., Ultraray, Lemer Pax, Berthold Technologies GmbH & Co.KG, SDS Specialist Door Solutions, Scanflex Medical AB, Veritas Medical Solutions LLC, Amray Radiation Protection, ProTechMed.
The increasing demand for medical imaging procedures and radiation therapy sessions is expected to drive the demand for Medical Radiation Shielding Market Trends products over the forecast period. Technological advancements are also being made in material science to develop newer radiation shielding materials with improved protection at lower weight.
Market Trends:
Lead alternatives are gaining popularity in medical radiation shielding as they offer lighter weight and flexibility in designs compared to lead. Some examples include tungsten, bismuth and specialized concretes. Mobile and modular radiation barriers are also gaining demand for flexibility in busy healthcare settings. New product categories like radiation safety apparels are being launched by manufacturers for protective clothing.
Market Opportunities:
Growth opportunities lie in developing countries where healthcare infrastructure is expanding. Portable and flexible radiation shields catering to emerging markets will have good opportunities. Developing innovative materials like graphene for future radiation shielding can also open new opportunities if commercialized. Expanding usage of nuclear medicine will also drive innovation in specialized shielding products over the long term.
Impact of COVID-19 on Medical Radiation Shielding Market:
The COVID-19 pandemic negatively impacted the Medical Radiation Shielding Market Analysis growth in 2020 and 2021. Lockdowns and reduced hospital visits led to decreased demand for medical imaging equipment like X-rays and CT scans which require radiation shielding. Manufacturing and supply chain disruptions also hampered market players. However, with the resumption of elective surgeries and increasing focus on COVID-19 screening, the demand for medical radiation shielding started recovering post 2021. The pandemic highlighted the importance of radiology in healthcare which is driving investments in new medical imaging solutions. Market players are also innovating lightweight and portable radiation shielding products to address healthcare needs in pandemic situations. While short term challenges remain, the long term outlook for this market is positive with growing awareness about radiation safety and regulations.
Medical Radiation Shielding Market in North America:
The North America region holds the largest share of the global medical radiation shielding market in terms of value. This is attributed to factors like the large healthcare expenditure, advanced medical infrastructure and wide availability of diagnostic imaging modalities in countries like the US and Canada. According to estimates, the market value of medical radiation shielding was over US$ 450 million in North America in 2024 owing to rising cancer care needs. With presence of leading market players, strict safety regulations and focus on technological advancements, the demand for radiation protection products is high across hospitals, diagnostic imaging centers and cancer treatment facilities. The growing geriatric population who require more medical screenings also supports market growth in this region.
Medical Radiation Shielding Market in Asia Pacific:
The Asia Pacific region is poised to be the fastest growing market for medical radiation shielding globally during the forecast period of 2024 to 2031. This growth can be attributed to increasing healthcare investments, expanding medical tourism industry and rising incidence of chronic diseases in developing Asian countries. China and India specifically are key markets due to their huge patient pools and rapidly developing medical infrastructure. Availability of lower cost product options is also propelling the APAC medical radiation shielding market. Factors such as rising medical standards, public health awareness and new regulatory norms for radiation safety are further expected to drive the demand across Asia Pacific hospitals and clinics in the coming years.
Get More Insights On, Medical Radiation Shielding Market
About Author:
Ravina Pandya, Content Writer, has a strong foothold in the market research industry. She specializes in writing well-researched articles from different industries, including food and beverages, information and technology, healthcare, chemical and materials, etc. (https://www.linkedin.com/in/ravina-pandya-1a3984191)
Comments
0 comment