Medical Radiation shielding Market
Medical Radiation shielding Market (Product Type - Apron and Blankets, lead Sheet, Plate and Bricks, Blocks and Rooms, Curtains, Shield and Booths and others; End User - Hospitals, Diagnostic Centers, Oncology Centers and Other End Users; Solution - Radiation Therapy and Diagnostic) - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2017 - 2022
Press Release :
Growing use of radiation therapy and nuclear medicine for treatment and diagnosis purposes is expected to support the global sales of medical radiation shielding in the forthcoming years. As per the latest report published by Transparency Market Research (TMR), the global medical radiation shielding market is expected to surpass a valuation of US$ 1,100 Mn by the end of 2022.
The number of diagnostic imaging centers has swelled significantly in recent years due to increasing prevalence of chronic diseases including cancer. This is partly driving the demand for medical radiation shielding. With rapid installation of radiology equipment, requirements of supporting accessories such as radiation shielding tools and other related setups have also escalated. Prolonged exposure to large amount of ionizing radiation can lead to devastating health impacts such as tumor development, cancer or other severe side-effects. Therefore, the need for protecting oneself from hazardous radiations while working under such conditions is extremely vital. Moreover, growing awareness regarding safety while handling radio-active equipment is expected to reflect favourably on the market. Professionals who work in diagnostics centers having equipment that emit radiation are often at risk of being exposed to high amount of radiation. For diagnostics centers having proper radiation shielding is important in order to ensure safety of its medical staff.
Block and Rooms will remain a Leading Product Type Segment Over 2022
Block and rooms will remain highly preferred medical radiation shielding products over the forecast period (2017-2022). Blocks and rooms are among the most important aspects of medical radiation shielding, hence their demand is expected to remain strong in the near future. Global sales of blocks and rooms medical radiation shielding products currently command for around 30% share of the global market in terms of revenue.
Hospitals will Remain the largest End Users of Medical Radiation Shielding Over 2022
Use of medical radiation shielding in hospitals is expected to remain high throughout the forecast period. Over US$ 400 Mn worth medical radiation shielding products are expected to be deployed in hospitals towards the end of 2022. Hospitals are making a significant contribution to the growth of the market. Increasing awareness about ill-effects of medical radiation is expected to boost the deployments of medical radiation shielding in hospitals.
Sales of Medical Radiation Shielding for Diagnostic Solution will remain Strong
Demand for medical radiation shielding for diagnostic solution is expected to remain significantly high in 2017 and beyond. Currently, more than two-third of medical radiation shielding product sold globally are deployed for diagnostics solution.
North America will continue to be the Most Attractive Market for Medical Radiation Shielding
In terms of revenue, North America is expected to dominate the global medical radiation shielding during the forecast period. The market in the region is projected to surges at a sound CAGR between 2017 and 2022. The region is likely to present lucrative opportunities owing to existence of an advanced healthcare infrastructure. By 2022-end the market in North America is expected to surpass a valuation of US$ 400 Mn. Meanwhile, Europe’s market is also expected to exhibit considerable growth on account of the growing healthcare expenditure and technological advancements in the regions healthcare infrastructure.
Global Medical Radiation Shielding: Competitive Landscape
Leading market players profiled in TMR’s report include A&L Shielding, ESCO Technologies Inc., Gaven Industries, Inc., Global Partners in Shielding, Inc., Radiation Protection Products, Inc., Ray-Bar Engineering Corp., and Veritas Medical Solutions LLC. A majority of these companies have been actively focusing on improving the efficiency of their products and ensure complete safety from radiation.
Increased Prevalence of Cancer to Trigger Growth of the Medical Radiation Shielding Market
Medical radiation shielding find use various radiologic applications comprising X-ray, MRI, and various other applications of diagnostic imaging. This process is based on a technology that enables human contact sans any physical harm. This form of protection is made from various eco-friendly materials and is based on the need of protection from radiation. Rising incidences of cancer are anticipated to support growth of the global medical radiation shielding market in the years to come.
Rising demand for nuclear radiation therapies to ensure correct diagnosis of cancer is expected to trigger growth of the global medical radiation shielding market in the near future. In addition, a rise in the number of installation base of different radiology devices along with diagnostic imaging centers is likely to drive the demand for medical radiation shielding in the forthcoming years. Besides, in the developing countries there has been high growth potential, which is estimated to open up an extensive range of opportunities for the global medical radiation shielding market in the forthcoming years.
Increased Use of Nuclear Medicine with Radiation Therapy for Treatment to Spell Growth for the Market
Radiation shielding is also called radiological protection or radiation protection. It is a process that offers protection to people from the adverse effects of exposure to ionizing radiation. Radiation shielding works as a means to provide this protection. Augmented use of nuclear medicine along with radiation therapy for the purpose of treatment and diagnosis along with growing incidences of chronic diseases, such as cancer are expected to augur well for the global medical radiation shielding market in the forthcoming years.
Increased awareness about the safety amongst the people together with working in environments that are prone to radiation is estimated to act as growth factors for the global medical radiation shielding market. Various processes of radiation and diagnostic X-ray procedures need medical personnel to stay in the room where they absorb scatter radiation, In addition, recurrent exposure to radiation leads results in several side effects. All these factors are estimated to propel growth of the global medical radiation shielding market in the years to come.
Transparency Market Research offers a comprehensive analysis of the global market for medical radiation shielding for the forecast period (2017-2022). The main objective of this report is to deliver insightful information and clear-cut facts pertaining to the growth trajectories of the market. The report offers both qualitative and quantitative examination on the global market for medical radiation shielding.
The report commence with an executive summary that include vital information regarding keys segments of the market. In the next section, reader will come across market introduction and production definition – medical radiation shielding. The report also presents a commentary on aspects such as supply chain analysis, pricing analysis, cost structure and list of distributors along with intensity map that highlights the market presence of key players on a global level.
A section of report is entirely dedicated to the competitive landscape of the market. With the help of information provide in this section readers will be able to have a better understanding of the current competitive scenario in the global market. The section primarily focuses on market position of leading companies profiled in the report along with their product catalog, recent developments, and growth strategies. Some of the prominent market players mentioned in the report include Veritas Medical Solutions LLC, Gaven Industries, Inc., Ray-Bar Engineering Corp., Global Partners in Shielding, Inc., Radiation Protection Products, Inc., A&L Shielding, and ESCO Technologies Inc.,
To reach to certain conclusions on the market, exhaustive primary and secondary research was conducted. Examining the supply and demand side with assessment of key parameters including year-on-year (Y-o-Y) growth assisted the analysts in affirming the credibility of data gathered. The report makes segment analysis in order to measure their influence on the overall growth of the market and their future prospects. All the vital metrics were referred to obtain critical information of the relative growth of the market. Hence, readers can gain excess to information on key segments and accordingly plan their investment strategies. The report provide segmental analysis of the global market for medical radiation shielding on the basis of end user, solution, product type and region.
Based on end user, the market has been segmented into hospitals, diagnostic centers, oncology centers and Other End Users. By solution, the market has been bifurcated into radiation therapy and diagnostic. On the basis of product type, the market has been segmented into apron and blankets, lead sheet, plate and bricks, blocks and rooms, curtains, shield and booths and others. The regional analysis offered in the report encompasses market’s performance in Asia Pacific excluding Japan (APEJ), the Middle East & Africa (MEA), North America, Latin America, Europe, and Japan. This region-wise examination will assist readers in gaining information pertaining to the performance of the market in the aforementioned regions. In also presents readers with a general overview of business environment in these region with key social, political and economic factors.