Radiation Protection Market to Reach $1,792.7 Million by 2031: Coherent Market Insights

Burlingame, June 13, 2024 (GLOBE NEWSWIRE) — The global radiation protection market size was estimated in USD 1,293.5 million in 2024 and is expected to reach around USD 1792.7 million by 2031, registering a CAGR of 4.8% between 2024 and 2031, according to a recent report by Coherent Market Insights. Increasing government regulations regarding radiation safety in industries such as nuclear power, medicine and research are driving the adoption of radiation protection products. Regulations mandate strict compliance, monitoring and reporting of radiation exposures.

Market Dynamics:

The radiation protection market is primarily driven by the growing demand for radiation protection equipment in various end-use industries such as healthcare, medicine, oil and gas, mining, and nuclear power plants. The increasing prevalence of chronic diseases and cancer has significantly increased the number of diagnostic imaging procedures worldwide. According to the World Health Organization (WHO), approximately 43.8 million medical radiation procedures were performed globally in 2018. This widespread use of radiation-based diagnostic procedures has increased the need for radiation protective equipment to protect patients and medical staff from unnecessary exposure to radiation. . Additionally, increased exploration and production (E&P) activities in the oil and gas industry also require radiation protection equipment to ensure the safety of personnel during well logging and pipe inspection operations.

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Market Trends:

Key trends in the global radiation protection market include increasing adoption of lead-free radiation protection materials and growing demand for customized radiation protection products. Lead has traditionally been used as one of the main materials for the production of radiation protective clothing, aprons, barriers and curtains. However, lead poses various health risks, such as lead poisoning. This has increased the demand for lead-free materials such as tungsten, bismuth and specialized heavy metal alloys for radiation protection. Moreover, with increasing awareness of radiation safety, end-use industries prefer radiation protection equipment customized to their operational requirements and work environments. This has led manufacturers to focus on developing and offering customized product portfolios. For example, some manufacturers offer custom radiation shields, booths, and curtains designed specifically for CT, MRI, and PET scan rooms in hospitals.

The protective barriers and booths segment is expected to hold the largest market share during the forecast period. Shielding barriers and booths provide protection from direct and scattered radiation during diagnostic and therapeutic procedures. They help limit the radiation exposure of medical personnel and other individuals present in the vicinity of radiation equipment. With the increasing installation of new radiation equipment and the growth of medical practices, the demand for protective barriers and booths is increasing significantly.

Radiation Protection Market Report Coverage

Report coverage The details
Market revenue in 2024 1,293.5 million dollars
Estimated value until 2031 1,792.7 million dollars
Growth rate Poised to grow at a CAGR of 4.8%
Historical date 20192023
Forecast period 20242031
Forecast units Value (million USD/billion)
Report coverage Revenue forecast, competitive landscape, growth factors and trends
Segments covered By product type, by solution, by end user
Geographies covered North America, Europe, Asia Pacific and the rest of the world
Growth drivers Increasing product launches by major market players

The Rise of Nuclear Medicine

Limitations & Challenges High investment cost for radiation protection products

Lack of adequate health infrastructure

The radiation detection and monitoring equipment segment includes products such as radiation detectors, personal dosimeters and area monitors. These devices help monitor radiation levels during procedures and ensure safety. Among them, personal dosimeters that measure individual exposure to radiation are widely used. Technological advances are bringing more innovative and portable radiation detection devices. This is driving the growth of this segment.

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Recent developments:

In February 2023, SDS Specialist Door Solution launched Shielddoor lead-lined x-ray doors for the healthcare field that protect demanding and challenging environments within hospital and radiology facilities.

In April 2022, Radiaction Medical Ltd, announced that it had completed a $10 million funding round led by existing investors, InnovaHealth Partners.

Main market relationships:

The global radiation protection market is projected to witness a CAGR of 4.8% during the forecast period 2024-2031, owing to rising incidence of cancer and increasing installation of new radiation equipment.

On the basis of product type, the barrier and protective booths segment is expected to hold a dominant position, owing to the growing need to limit radiation exposure of medical personnel.

Based on the settlement, the radiation therapy protection segment is expected to dominate during the forecast period due to the increase in cancer treatments that require specialized radiation protection measures.

On the basis of end-user, the hospital segment holds the largest market share due to high adoption of radiation therapy and nuclear imaging procedures in hospitals.

Regionally, North America is expected to hold a dominant position during the forecast period, owing to the well-established healthcare infrastructure and increasing implementation of best radiology practices in the region.

Key players operating in the radiation protection market include Marswell Group of Companies, Mirion Technologies, Inc., Esco Micro Pte. Ltd., MAVIG GmbH., Radiaction Ltd, Burlington Medical, Gaven Industries, Inc., Ultrary, Lemer Pax, Berthold Technologies GmbH & Co.KG, SDS Specialist Door Solutions. Strategic partnerships and new product launches are some of the key strategies adopted by market players.

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Detailed segmentation –

By product type:

  • Barriers and Protective Booths
  • shield
  • Radiation detection and monitoring equipment
  • Lead coated doors
  • Other (Radiation warning signs, barrier tape, etc.)

According to the solution:

  • Radiation therapy protection
  • Diagnostic protection

From the end user:

  • hospital
  • Ambulatory Surgical Centers
  • Others

By region:

North America:

Latin America:

  • Brazil
  • Argentinian
  • Mexico
  • The rest of Latin America

Europe:

  • Germany
  • uk
  • Spain
  • France
  • Ital
  • Russia
  • The rest of Europe

Asia Pacific:

  • China
  • Indian
  • Japan
  • Australia
  • South Korea
  • ASEAN
  • Rest of Asia Pacific

Middle East:

  • GCC countries
  • Israel
  • The rest of the Middle East

Africa:

  • South Africa
  • North Africa
  • Central Africa

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Around us:

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