Industry Background:
Radiation causes ionization of atom this in turn affects Molecules, Cells and Tissues in the body. The cellular damage to the body has direct and Indirect effects, Internal irradiation induced by the ingestion of radioactive contaminants may cause exposure from a source of radiation external to the human body or from internal irradiation caused by a source of radiation external to the human body. Radiation shielding or Radiological shielding, protects key stakeholders and ensures safety of patients, staff and the general public is a primary consideration in the implementation of a radiation treatment program. Radiation shielding is comprised of two main elements: an inherently protected facility design with sufficient shielding and other physical precautions against accidental exposure, as well as policies and procedures. Heavy growth in infrastructure in healthcare sector has facilitated demand for Medical Radiation Shielding devices.
According to AMA Research, the market for Medical Radiation Shielding is expected to register a CAGR of 4.6% during the forecast period to 2030. This growth is primarily driven by Prevalence of Radiation Related Diseases Among Medical Professionals
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Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
Forecast Period | 2024-2030 |
Volume Unit | N |
Value Unit | USD (Million) |
Customization Scope | Avail customization with purchase of this report. Add or modify country, region & or narrow down segments in the final scope subject to feasibility |
The Health Care Equipment sector in the
region has been increasing at a sustainable rate and further growth is expected to be witnessed over the forecast period, owing to the robust investments and expansion in production facilities in the region. Major Players, such as Nelco, Inc. (United States), Radiation Protection Products (United States), MarShield (Canada), Ray-Bar Engineering Corp (United States), Amray (Ireland), Gaven Industries Inc. (United States), A&L Shielding (Rome), ETS-Lindgren (United States), Global Partners in Shielding Inc. (United States) and Veritas Medical Solutions LLC (United States), etc have either set up their manufacturing facilities or are planning to start new provision in the dominated region in the upcoming years.
Key Developments in the Market:
In March 2022, Trivitron Healthcare acquired The Kennedy Company, a leading manufacturer of Radiation Protection X-ray Shielding Material and Acoustic Barrier Products.
On 31st March, 2020 – MarSheild Launched its Modular X-Ray Shielding Rooms for Specially Designed and Engineered for Temporary Hospital Sites. These Shielding Rooms can be Setup in a Few Hours and are Portable and On 18th March, 2021 – Xray Curtains Released Its Innovative Range of Lead-Free Rubber Radiation Shielding Curtains, these Curtains are Developed to Protect from Radiation Exposure in Food Screening, Airport Security, Medical Imaging and Industrial Settings.The companies are exploring the market by adopting mergers & acquisitions, expansions, investments, new service launches and collaborations as their preferred strategies. The players are exploring new geographies through expansions and acquisitions to avail a competitive advantage through combined synergies.
Regulatory Insights:
United States FDA 3-A Safety Standards; These are a Comprehensive list of Standards that Regulate Manufacturing and Implementation of Radiological Shield. Use of Harmful Chemicals such as Lead is Banned under USDA 3-A. and European Commission Radiation Protection 102 'Medical exposure directive' (97/43/Euratom); Provides Safe Use Norms for Of These Medical Imaging Modalities and Limits the Dosage Requirements in Accordance to Patient.
Influencing Trend:
Technical Progress in Medical Industry
Market Growth Drivers:
Prevalence of Radiation Related Diseases Among Medical Professionals and High Chances of Permanent Brain Damage
Challenges:
Improper Shielding Associated with Cancer
Restraints:
Usage of Hazardous Elements such as Lead and Cost Concerns
Opportunities:
Growth in Healthcare infrastructure Due to Pandemic
AMA Research follows a focused and realistic research framework that provides the ability to study the crucial market dynamics in several regions across the world. Moreover, an in-depth assessment is mainly conducted by our analysts on geographical regions to provide clients and businesses the opportunity to dominate in niche markets and expand in emerging markets across the globe. This market research study also showcases the spontaneously changing Players landscape impacting the market's growth. Furthermore, our market researchers extensively analyze the products and services offered by multiple players competing to increase their market share and presence.
Data Sources of Medical Radiation Shielding Market Study
Primary Collection: InMail, LinkedIn Groups, Survey Monkey, Google, and Other professional Forums are some of the mediums utilized to gather primary data through key industry participants and appointees, subject-matter experts, C-level executives of Medical Radiation Shielding Industry, among others including independent industry consultants, experts, to obtain and verify critical qualitative commentary and opinion and quantitative statistics, to assess future market prospects.
The primary interviews and data collected as per the below protocols: By Designation: C-Level, D-Level, Others
By Company Type: Tier 1, Tier 2, Tier 3
Secondary Data Sources such as Annual reports, Press releases, Analyst meetings, Conference calls, Investor presentations, Management statements, and SEC filings of Medical Radiation Shielding players along with Regulatory Sites, Association, World bank, etc were used as sources secondary set of data.
Customization in the Report
AMA Research features not only specific market forecasts but also includes significant value-added commentary on:
- Market Trends
- Technological Trends and Innovations
- Market Maturity Indicators
- Growth Drivers and Constraints
- New Entrants into the Market & Entry/Exit Barriers
- To Seize Powerful Market Opportunities
- Identify Key Business Segments, Market Proposition & Gap Analysis
Against this Challenging Backdrop, Medical Radiation Shielding Study Sheds Light on
The Medical Radiation Shielding Market status quo and key characteristics. To end this, Analysts at AMA organize and took surveys of the Medical Radiation Shielding industry Players. The resultant snapshot serves as a basis for understanding why and how the industry can be expected to change.
Where Medical Radiation Shielding industry is heading and what are the top priorities. Insights are drawn from financial analysis, surveys, and interviews with key executives and industry experts.
How every company in this diverse set of Players can best navigate the emerging competition landscape and follow a strategy that helps them position to hold the value they currently claim or capture the new addressable opportunity.