(MENAFN- P&S Intelligence) In 2021, the global medical radiation detection, monitoring, & safety market was worth around $2,140.8 million, which is predicted to touch $4,373.8 million by 2030, advancing at an 8.3% CAGR from 2021 to 2030. The major factors driving the market include the snowballing cases of cancer, rising geriatric population, surging count of nuclear and radio diagnostic and therapeutic procedures, and growing number of diagnostic imaging centers.
The industry in North America has had the biggest market share in recent years, and it is expected to grow at an 8.6% CAGR from 2021 to 2030. The region dominates the market owing to the increasing awareness of the health problems caused by overexposure to radiation and growing incidence of cancer. Similarly, the medical radiation detection, monitoring, & safety market is being propelled by the increasing radiation safety awareness and rising number of radio diagnostic procedures.
The hospitals category accounted for a roughly 70% share of the medical radiation detection, monitoring, & safety market in 2021. This was due to the ever-increasing demand for medical radiation therapy and diagnosis, both conventional and nuclear. Radiation-based procedures can be performed in hospitals with ease due to the availability of the necessary equipment and experienced professionals. Furthermore, the count of outpatients and inpatients in hospitals is steadily increasing, and this trend will accelerate in the future.
The detectors category generated the highest revenue in the medical radiation detection, monitoring, & safety market, of $427.0 million, in 2021. The demand for medical radiation detection is growing as the number of radiography operations increases and medical staff becomes more aware of the necessity of radiation safety. Cancer patients often need radiation therapy, which requires the use of detectors to ascertain the dosage being given.
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