The Medical Radiation Shielding market is projected to reach USD 1.8 Billion by 2028 from USD 1.4 Billion in 2023, at a CAGR of 6.5% during the forecast. Factors such as rising healthcare expenditure across developing countries, increasing public private investments in cancer research, growing government and private investments to meet the increasing demand for cancer treatment, technological advancements in radiation detection and Increasing usage of nuclear medicine & radiation therapy coupled with the rising incidence of cancer t period have increased the demand of the Medical Radiation Shielding Market.
The Medical Radiation Shielding market is highly consolidated and is dominated by various players. The major players operating in this market are ESCO Technologies (US), Mirion Technology (US), Nelco Worldwide (US), Gaven Industries Inc. (US), Radiation Protection Products, Inc. (US), Marshield (Canada), Ray-Bar Engineering Corp. (US), Amray Medical (Ireland), A&L Shielding (US), Global Partners in Shielding Inc. (US). These include product launches, contracts, partnerships, mergers and acquisitions, and new product development activities further to expand their presence in the Medical Radiation Shielding market.
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ESCO Technologies Inc. (US)
ESCO Technologies Inc. (US) is an industry player in designing and manufacturing products which provide its customers with the ability to identify, measure and contain magnetic, electromagnetic and acoustic energy. The company has three business operations segments i.e. Aerospace & Defense (A&D), Utility Solutions Group (USG) and RF Shielding and Test. The RF Shielding and Test segment’s operations consist of ETS-Lindgren Inc. and related subsidiaries (ETS-Lindgren). It offers customers with a broad range of RF test facilities like RF and magnetically shielded rooms which includes features like shielded doors and windows. For instance, In September 2022, ETS-Lindgren had a partnership with the IMRIS, Deerfield Imaging for opening Hale Family building that will offer diagnostic and treatment capabilities during surgery. Also, In September 2022, ETS-Lindgren will display innovative products and services for MRI imaging and healthcare professionals at several industry-leading trade including the Healthcare Facilities Symposium & Expo, HCF 2022.
Mirion Technologies Inc. (US)
Mirion Technologies Inc. (US) is a leading provider of detection, measurement, analysis and monitoring solutions to the nuclear, defense, medical and research end markets. Mirion Technologies Inc. has two reportable business segments, namely, Medical and Industrial.
The company offers radiation detection, monitoring, and safety products through the medical segment. Products and solutions of the Medical segment include dosimetry services (environmental radiation monitoring the dose of records services), cancer diagnostics and therapy quality assurance, nuclear medicine, dosimeters (wearable devices that measure exposure to ionizing radiation), contamination and clearance monitors, detection and identification instruments, radiation monitoring systems, electrical penetrations, reactor instrumentation and control equipment and systems.
The company has a wide geographical reach globally, in the Americas, Europe, Africa, the Middle East and Asia Pacific regions. It offers products and services to the private sector and government clients in developed and emerging markets. Further, Mirion is headquartered in Atlanta, Georgia and has operations in the US, Canada, the UK, France, Germany, Finland, China, Belgium, the Netherlands, Estonia, Japan, and South Korea. For Instance, In Janauary 2021, Mirion Technologies acquired Sun Nuclear Corporation, which is present in over 100 countries. This acquisition was meant to strengthen Mirion’s position in the market and In September 2020, Mirion acquired Biodex Medical Systems, a leader in the medical industry that offers nuclear medicine instruments, medical imaging equipment, and rehabilitation systems.
Medical Radiation Shielding Market by Products (Shields, Booths, Lead sheet, Doors, Windows, Curtain, X-Ray), Solution (Radiation Therapy, Cyclotron, PET, CT, MRI), End-user (Hospitals, Clinics, ASCs, Diagnostic Center), & Region - Global Forecast to 2028
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