USD 1.38 Billion
Medical Radiation Shielding Market Size, Share, Growth Analysis, By Product (MRI Shielding Products, Lead-Lined Glass), By Material (Lead-based Shielding, Non-lead Shielding), By Solution (Radiation Therapy Shielding, Diagnostic Shielding), By End User, By Region - Industry Forecast 2024-2031
Report ID:
SQMIG35H2295 |
Region:
Global |
Published Date: November, 2024
Pages:
162
|Tables:
107
|Figures:
68
Medical Radiation Shielding Market Insights
Global Medical Radiation Shielding Market size was valued at USD 1.33 billion in 2022 and is poised to grow from USD 1.42 billion in 2023 to USD 2.35 billion by 2031, growing at a CAGR of 6.52% during the forecast period (2024-2031).
The increase of medical radiation shielding market can be attributed to the increasing incidence of chronic diseases and the rise in diagnostic imaging modalities. As the demand for radiotherapy and diagnostic imaging in the treatment of cancer and other conditions increases, the need for effective radiation shielding solutions to protect patients & healthcare workers. For example, according to the WHO, in 2022 there will be about 20 million new cases of cancer and about 9.7 million deaths from the disease. It is estimated that about 1 in 5 people developed cancer in their lifetime. Also, technological advancements in imaging and radiotherapy equipment help to expand the market, as new devices generally require advanced protective features to drive them stringent government regulations.
Governments and health regulatory agencies are implementing stringent guidelines and regulations regarding radiation safety in medical facilities. These regulations require adequate protective measures to minimize radiation exposure during diagnostic and treatment procedures. For example, the Nuclear Regulatory Commission (NRC) has implemented regulations mandating the use of radiation shielding materials in diagnostic imaging procedures. Technological advancements in radiation protection chemicals and equipment are driving the market. Non-toxic and lead-free protection methods have been developed that provide improved results compared to traditional lead-based solutions.
Market Snapshot - 2024-2031
Global Market Size
Largest Segment
CT scanners
Fastest Growth
MRI Shielding Products
Growth Rate
6.69%
Global Medical Radiation Shielding Market ($ Bn)
Country Share for North America Region (%)
To get more reports on the above market click here to Buy The Report
Medical Radiation Shielding Market Segmental Analysis
Global Medical Radiation Shielding Market is segmented by Product, Material, Solution, End User, and Region. Based on Product, the market is segmented into MRI Shielding Products, Lead-Lined Glass, Doors, And Windows, Lead-Lined Drywalls & Plywood, Shields, Barriers, And Booths, Lead Sheets, Lead Bricks, High-Density Concrete Blocks, X-Ray Rooms, Lead Curtains & Screens, Lead Acrylic. Based on Material, the market is segmented into Lead-based Shielding, Non-lead Shielding, and Hybrid Shielding. Based on Solution, the market is segmented into Radiation Therapy Shielding (Linear Accelerators, Multimodality Imaging, Cyclotrons, Brachytherapy, Proton Therapy), Diagnostic Shielding (CT Scanners, X-Ray Imaging, MRI, Nuclear Imaging). Based on End User, the market is segmented into Hospitals, Ambulatory Surgery Centers, and Clinics, Diagnostic Centers. Based on region, the market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & Africa.
Analysis by Application
The diagnostics segment held the largest share at 52.78% in 2023. This segment includes radiography (X-ray), computed tomography (CT), fluoroscopy, mammography and dental imaging. This growth can be attributed to cancer and diseases the rise of other chronic diseases and the increasing number of elderly people. Diagnostic imaging techniques such as X-rays, CT scans, MRIs and PET scans are increasingly used for early detection, accurate diagnosis and monitoring of health conditions. According to the United Nations, it is expected that the global population an aged 65 and increase from 10% in 2022 to 16% in 2050, contributing to the growing need for diagnostic imaging to manage age-related health issues. Advanced imaging technologies such as 3D mammography, PET/CT, and 3T MRI systems are being widely adopted the diagnostic section is gaining momentum.
The therapeutics segment is expected to grow significantly over the forecast period. The growth is being driven by increasing adoption of advanced radiation therapies such as radiotherapy, brachytherapy and proton therapy. These techniques provide precise tumor targeting, reduce damage to surrounding healthy tissue, and improve patient clinical outcomes. Additionally, artificial intelligence and machine learning algorithms combined with radiation therapy planning and delivery are enhancing medical care by improving treatment accuracy. In May 2022, Elekta began unprecedented growth in radiosurgery with the launch of Elekta Esprit. This advanced program represents a significant advancement in the field, offering benefits that raise the standard of care for patients treated with radiotherapy.
Analysis by End User
Hospitals & clinics is the dominant segment in the medical radiation shielding market. Hospitals & clinics had the largest share at 55.14% in 2023. Hospitals and clinics play an important role in the market due to high demand for radiation protection products. These facilities are subject to stringent regulations regarding radiation safety under, compliance with these regulations requires effective radiation protection measures by the hospital. Resources and diagnostic imaging have been expanded. As hospitals invest in advanced imaging equipment, the demand for radiation protection solutions also increases.
The diagnostic imaging centers segment is estimated to witness the highest growth during the forecast period. Diagnostic imaging centers are increasingly adopting advanced imaging modalities such as MRI, PET-CT, and nuclear medicine studies. This technology requires specialized wind shield solutions to maintain safety standards. Strengths in early detection and preventive health care have led to an increase in the number of diagnostic imaging centers offering diagnostic services. This expansion is driving demand for radiation protection products in these areas. Many healthcare providers outsource their imaging services to specialized imaging labs due to cost-effectiveness and efficiency. This trend is increasing the demand for radiation protection solutions in stand-alone imaging facilities.
Global Medical Radiation Shielding Market By Application (%)
To get detailed analysis on other segments, Request For Free Sample Report
Medical Radiation Shielding Market Regional Insights
North America dominates the medical radiation shielding market, primarily due to its advanced healthcare infrastructure, widespread adoption of diagnostic imaging technologies, and the stringent regulatory standards. Strong North American focus on cancer therapies and use of radiation protection policies are also important factors contributing to its market leadership. According to the Society of Nuclear Medicine, the number of nuclear medicine procedures especially increased in the US, with nearly 20 million procedures performed annually to diagnose and treat the condition types, widely used in cardiology, cancer, neurology, and other medical fields.
Asia-Pacific is emerging as the dominant region in the medical radiation shielding market, with increasing demand for healthcare services, rising incidence of cancer, and expanding healthcare infrastructure. Countries such as China, India and Japan and a rapidly aging population are driving demand for advanced radiation protection solutions. Moreover, government initiatives to improve access to healthcare and safety standards are fueling market growth in Asia Pacific. The medical radiation shielding market in Asia Pacific is expected to grow at the fastest CAGR during the forecast period. This may be due to the increasing prevalence of chronic diseases, especially cancer, in the region.
Global Medical Radiation Shielding Market By Geography
- Largest
- Fastest
To know more about the market opportunities by region and country, click here to
Buy The Complete Report
Medical Radiation Shielding Market Dynamics
Drivers
Growing Demand for Diagnostic Imaging and Radiotherapy Services
- The demand for diagnostic imaging such as the X-rays, CT scans, and MRIs is rapidly increasing worldwide due to the increasing prevalence of chronic diseases, cancers, and injuries. Radiotherapy facilities, especially in cancer treatment, also require state-of-the-art radiation protection for patients and healthcare professionals. This demand is driving growth in the medical radiation shield market, as hospitals and care facilities invest heavily in protective solutions.
- In addition, technological innovations in imaging and radiation therapy such as the highly accurate linear accelerators require more advanced chemical protection. These innovations require custom-designed radiation equipment to reach off-target areas.
Increased Awareness and Compliance
- Increasingly aware of the harmful effects of long-term radiation exposure, health authorities and organizations have established strict rules and guidelines Safety standards adopted by organizations such as the Food and Drug Administration (FDA) and the Occupational Safety and Health Administration (OSHA) regulatory compliance is needed.
Restraints
High Cost of Radiation Protection
- One of the major challenges in the medical radiation shielding market is the high cost associated with the radiation shielding products and infrastructure. Hospitals and infectious disease centers require significant investments to install and maintain radiation protection systems. The use of advanced materials such as lead-free armor and alloys, for better defense is often critical. Smaller healthcare facilities, especially in developing regions, may find it difficult to invest in expensive radiation protection solutions, which may lead to slower market capture. In addition, the cost of regularly updating or changing an air shield system to meet new regulations and technological advances can strain hospital budgets are limited.
Limited Adoptions in Low-income Areas
- Medical radiation shield acceptance is uneven around the world, with low-income and underdeveloped areas lagging. Lack of financing, inadequate health care, and lack of advanced medical technology hinder the implementation of effective radiation protection solutions in these areas. Despite the growing demand for diagnostic services and the rise of radiotherapy, many health care facilities in low-income areas use outdated or substandard weapons equipment.
Request Free Customization of this report to help us to meet your business objectives.
Medical Radiation Shielding Market Competitive Landscape
A notable example of prominent firms in the market are Nelco Worldwide and ETS-Lindgren, two major players in medical radiation protection in 2022, These companies will be functional firms in addition to their expertise as it enhances their service delivery. The purpose of this collaboration was to deliver effective, scalable security solutions to hospitals and facilities around the world. The collaboration also enabled the use of advanced technologies, providing innovative radiation protection solutions that meet the evolving requirements of today’s healthcare facilities.
Top Player’s Company Profiles
- Esco Technologies Company
- Tata Group (Nelco Worldwide)
- Gaven Industries, Inc.
- Radiation Protection Products, Inc.
- Mars Metal Company
- Ray-Bar Engineering Corp.
- Amray Medical
- A&L Shielding
- Veritas Medical Solutions LLC
- Alimed, Inc.
- Protech Medical
- Globe Composite Solutions LLC
- Ultraray
- Nuclear Lead Co.
- Van Mullekom Group
- Xena Shield
- Burlington Medical
- European EMC Products
- Sago Medica Holding s.r.l.
- Mirion Technologies, Inc.
Recent Developments
- In March 2022, Radiation Medical Ltd., a employer in the scientific technology enterprise, reached a milestone via receiving FDA acclaim for its new radiation protection system.
- In March 2022, Trivitron Healthcare acquired The Kennedy Company, which specializes in insulation, radiation safety and X-ray safety merchandise, and increased its operations inside the US. This strategic move increased Trivitron’s productivity in the U.S., allowing the company to expand its manufacturing capabilities It came about and paved the way for the establishment of the Advanced Technology Park in Scottsboro, Alabama.
- In April 2022, Radiation Medical Ltd. acquired Food and Drug Administration 510(k) approval to market.
Medical Radiation Shielding Key Market Trends
- Growing Demand for Environmentally Friendly Treatments: One of the most important trends in the medical radiation shielding market is the increasing shift to lead-free blasting materials. Although traditional lead-based protection, although highly effective, poses environmental and health risks due to its toxicity. As environmental policies turn out to be more stringent, healthcare facilities are looking for greater environmentally pleasant alternatives. Lead-loose armor materials, along with tungsten or bismuth alloys, are rising as safer and greater durable substances, presenting radiation protection without lead corrosion.
- Advancements in Portable and Lightweight Shielding: As healthcare movements toward affected person-targeted cellular care, the demand for portable light-weight radiation protection solutions is growing. Conventional protective gadget materials, consisting of copper walls or concrete, tend to be bulky and difficult to move. The advent of light-weight tender armor lets in for greater mobility in health facility areas, permitting medical institution employees to create more secure environments without the want for permanent heavy gadgets. Advances in mild weapons are particularly useful for smaller hospitals and outpatient centers, wherein area and mobility are key concerns. This trend is gaining momentum as hospitals watch to adopt modular solutions that provide adequate security while continuing to adapt to the use of their space.
Medical Radiation Shielding Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Correlates, and Analyses the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research.
According to SkyQuest analysis, the medical radiation shielding market is poised for tremendous growth, driven by increasing demand for diagnostic imaging and the radiation therapy services, as well as increasing radiation risk and need illegal. But challenges such as high prices of wind shield products and inconsistent use in low-income areas. The shift towards environmentally friendly shield solutions and the rise of lightweight portable products represents the key trends shaping the future of the market.
| Report Metric | Details |
|---|---|
| Market size value in 2022 | USD 1.33 billion |
| Market size value in 2031 | USD 2.35 billion |
| Growth Rate | 6.52% |
| Base year | 2023 |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
|
| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
To get a free trial access to our platform which is a one stop solution for all your data requirements for quicker decision making. This platform allows you to compare markets, competitors who are prominent in the market, and mega trends that are influencing the dynamics in the market. Also, get access to detailed SkyQuest exclusive matrix.
Buy The Complete Report to read the analyzed strategies adopted by the top vendors either to retain or gain market share
Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Medical Radiation Shielding Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Medical Radiation Shielding Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Medical Radiation Shielding Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Medical Radiation Shielding Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Medical Radiation Shielding Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Medical Radiation Shielding Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
USA (+1) 351-333-4748
