Global Medical Radiation Shielding Market

Medical Radiation Shielding Market Size, Share, Growth Analysis, By Solution(MRI Shielding Products, Lead Lined Glass, Doors & Windows, Lead Lined Drywalls & Plywood), By End-Use(Diagnostic Shielding, X-ray, MRI, CT scanners), By Application(Hospitals and Clinics & ASCs, Diagnostic Centers), By Region - Industry Forecast 2024-2031


Report ID: SQMIG35H2260 | Region: Global | Published Date: September, 2024
Pages: 162 | Tables: 107 | Figures: 68

Medical Radiation Shielding Market Insights

Global Medical Radiation Shielding Market size was valued at USD 1.38 Billion in 2022 and is poised to grow from USD 1.47 Billion in 2023 to USD 2.47 Billion by 2031, growing at a CAGR of 6.69% in 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.

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Global Medical Radiation Shielding Market size was valued at USD 1.38 Billion in 2022 and is poised to grow from USD 1.47 Billion in 2023 to USD 2.47 Billion by 2031, growing at a CAGR of 6.69% in the forecast period (2024-2031).

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. 'Amray Group', 'ETS-Lindgren', 'Gaven Industries', 'MarShield', 'MAVIG GmbH', 'NELCO', 'Nuclear Shields B.V.', 'Radiation Protection Products, Inc.', 'VacuTec Meßtechnik GmbH', 'Veritas Medical Solutions', 'Ray-Bar Engineering', 'Barrier Technologies'

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.

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.

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.

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Global Medical Radiation Shielding Market

Report ID: SQMIG35H2260

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