Medical Radiation Detection, Monitoring & Safety Market

Market Leader - Medical Radiation Detection, Monitoring, and Safety Market

The global medical radiation detection, monitoring, and safety market is projected to reach USD 1,207 million by 2025 from USD 949 million in 2020, at a CAGR of 4.9% during the forecast period. The major factors driving the growth of this market include the increasing use of nuclear medicine and radiation therapy for diagnosis and treatment, growing number of diagnostic imaging centers, rising prevalence of cancer, increasing safety awareness among people working in radiation-prone environments, and the growing number of people covered by insurance.

The medical radiation detection, monitoring, and safety market is fragmented, with the presence of a large number of players offering a variety of products. The major players operating in this market are Fortive Corporation (US), Mirion Technologies, Inc. (US), IBA Worldwide (Belgium), Thermo Fisher Scientific, Inc. (US), Sun Nuclear Corporation (US), Ludlum Measurements, Inc. (US), Polimaster, Inc. (Republic of Belarus), Bertin Instruments (France), Radiation Detection Company Inc. (US), Biodex Medical Systems, Inc. (US), Arrow-Tech, Inc. (US), AmRay Group (Ireland), Infab Corporation (US), PTW Freiburg GmbH (Germany).

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Fortive Corporation (US)

Fortive Corporation (US) held the leading position in the medical radiation detection, monitoring and safety market in 2019. The company is a provider of technical and analytical services that determine the exposure of environmental and occupational radiation hazards. Fortive Corporation derives a majority of its revenue from the North American market. The company focuses on introducing radiology products that reduce radiation exposure to physicians and patients as well as products that increase the accuracy of imaging by using reference markets. Fortive Corporation consistently invests in research and development to introduce innovative products. Although the company has not been involved in any major developments in the last few years, its strong focus on brand management and efficient distribution will help it to maintain its position in the market.

Mirion Technologies (US)

Mirion Technologies (US) accounted for the second-largest share of the global medical radiation detection, monitoring and safety market in 2019. The company provides radiation detection, measurement, analysis, and monitoring products and services to the nuclear power, medical, military, and homeland security markets. To sustain its foothold and increase its share in the market, the company pursues inorganic growth strategies. In this regard, in July 2020, Mirion Technologies acquired three different companies for the expansion of its product portfolio. The acquisition combined the strengths of these companies, creating a premier supplier of radiation safety solutions for the nuclear, defense, and medical industries.

Related Reports:

Medical Radiation Detection, Monitoring & Safety Market by Detector (Gas-Filled Detectors, Scintillators, Solid-State), Product (Personal Dosimeters, Passive Dosimeters), Safety (Full Body Protection), End User (Hospitals) - Global Forecast to 2025

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Report Code
MD 2067
RI Published ON
8/25/2020
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