The major factors driving the growth of this market are increasing usage of nuclear medicine and radiation therapy for diagnosis and treatment, rising incidences of cancer, and increasing number of diagnostic imaging centers and installation base of radiology equipment.
What the Market Looks Like?
Predicted to grow at a CAGR of 6.1% during the forecast period, the global Medical Radiation Shielding market is estimated to reach $1330.0 million by the end of 2021.
“The MRI shielding segment is expected to account for the largest share of the global medical radiation shielding market in 2016”
The global market is segmented into Shields, Barriers, Booths, X-ray rooms, Sheet Lead, Lead Bricks, Lead Curtains, Lead Lined Doors & Windows, Lead Glass, Lead Lined Drywalls, Lead Lined Plywood, High Density Concrete Blocks, Lead Acrylic, and MRI Shielding Products. MRI Shielding Products segment is expected to account for the largest share of the market.
“The radiation therapy segment is expected to grow at the CAGR during the forecast period”
The global market is divided into radiation therapy shielding and diagnostic shielding. In 2016, the diagnostic shielding segment is expected to account for the largest share of the medical radiation shielding market, by solution. Factors driving the growth of this market are the technological advancements and increasing adoption rate of medical diagnostic equipment.
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Geographical growth scenario of Medical Radiation Shielding Market
The global market is segmented into North America, Europe, Asia, and the Rest of the World (RoW). The market is dominated by North America, followed by Europe, Asia, and the Rest of the World (RoW). However, Asia is expected to witness the highest CAGR, with the growth in this market centered at China and India due to rising awareness about radiation safety, increasing number of hospitals and adoption of radiation therapy.
Leading market players
The prominent players in the Medical Radiation Shielding market include ETS-Lindgren (US), Nelco, Inc. (U.S.), Radiation Protection Products (U.S.), MarShield, (Canada), Ray-Bar Engineering Corp (U.S.), Amray (Ireland), Gaven Industries, Inc. (U.S.), A&L Shielding (Rome), Global Partners in Shielding, Inc. (U.S.), and Veritas Medical Solutions LLC (U.S.).
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