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There are various areas where radiation power has been applied for the benefit of humans, one of them being the medical segment. Numerous benefits availed by patients due to the appropriate usage of radiation for improved diagnosis and treatment are evident. It has become a key part of the modern medical treatment, especially in treating cancer. Protection from radiation for doctors, other healthcare professionals, and patients is constantly evolving in the ever-developing modern medical environment. Radiation-producing technology such as X-ray diffraction equipment and X-ray machines are employed in various hospitals and diagnostic centers. Many handle intensive treatment procedures where risk of high levels of radiation exposure exists. Therefore, for the optimal safety from radiation, the medical radiation detection, monitoring and safety market offers radiation detection and monitoring products for real-time dosimetry monitoring.

According to the United States Nuclear Regulatory Commission, in 2014, seven out of every 10 Americans underwent diagnostic X-rays and radiation therapy. Furthermore, 10 million nuclear medicine procedures are performed in hospitals and radiology centers in the U.S. each year. Radiation is commonly employed to detect injuries, generate 3D images, as teletherapy, brachytherapy, and afterloading to treat tumors. Thus, the major factors which are anticipated to act as drivers for the medical radiation detection, monitoring, and safety market growth are increased usage of nuclear medicine and radiation therapy for diagnosis and treatment, rising cancer prevalence, and increase in the population of the persons with insurance. However, delay in new product approvals due to strict regulatory guidelines and scarcity of skilled professional to handle radiation related procedures are anticipated to act as restraints for this market.

The medical radiation detection, monitoring and safety market can be segmented into safety products, monitoring, detection and detector products, and end-users. In terms of detector, the medical radiation detection, monitoring and safety market can be segmented into solid-state detectors, gas-filled detectors, and scintillators. Due to the wide application in medical imaging and favorable cost-performance ratio of gas-filled detectors it had acquired the major share of medical radiation detection, monitoring and safety market in recent years.

In terms of product type, the market can be segmented into area process monitors, personal dosimeters, environment radiation monitors, environment radiation monitors, radioactive material monitors, surface contamination monitors, and others. Personal dosimeters accounted for a major share of the medical radiation detection and monitoring market due to their high demand in the medical field in recent years.

In terms of modality, the market can be segmented into hand safety products, face protection products, full-body protection products, and others. The full body protection segment is anticipated to expand in the near future due to the increased usage of radiation in various treatment procedures and rising awareness among healthcare professionals and patients.

In terms of end-user, the market can be segmented into hospitals and non-hospitals. Rising number of hospitals around the world is a key factor fuelling the expansion of the market in the end-user segment.

In terms of geography, the market can be segmented into North America, Europe, Asia, and Rest of the world. Expansion in the North America market is mainly due to the rise in usage of radio-diagnostic instruments and new technological advancements in radiation detection, monitoring and safety products. The market in Asia is anticipated to expand in the near future due to increase in number of hospitals in the region, increased cancer incidences, and rise in number of installations of radiological imaging instruments.

Key participants in the medical radiation detection, monitoring, and safety market are Arrow-Tech, Inc., Amray Medical, Biodex Medical Systems, Inc., Fluke Biomedical, IBA Worldwide, Infab Corporation, Landauer, Inc., Ludlum Instruments, Inc., Mirion Technologies, Inc., PTW Freiburg GmbH, Radiation Detection Company, Thermo Fisher Scientific, and Unfors Raysafe AB.

This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.

Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:

  • Customer Experience Maps
  • Insights and Tools based on data-driven research
  • Actionable Results to meet all the business priorities
  • Strategic Frameworks to boost the growth journey

The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.

The following regional segments are covered comprehensively:

  • North America
  • Asia Pacific
  • Europe
  • Latin America
  • The Middle East and Africa

The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.

Below is a snapshot of these quadrants.

1. Customer Experience Map

The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.

2. Insights and Tools

The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.

3. Actionable Results

The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.

4. Strategic Frameworks

The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.

The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:

1. What can be the best investment choices for venturing into new product and service lines?

2. What value propositions should businesses aim at while making new research and development funding?

3. Which regulations will be most helpful for stakeholders to boost their supply chain network?

4. Which regions might see the demand maturing in certain segments in near future?

5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?

6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?

7. Which government regulations might challenge the status of key regional markets?

8. How will the emerging political and economic scenario affect opportunities in key growth areas?

9. What are some of the value-grab opportunities in various segments?

10. What will be the barrier to entry for new players in the market?

Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.

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Medical Radiation Detection Monitoring Safety Market

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