Global Medical Radiation Shielding Market: Overview
The global medical radiation shielding market is expected to grow at a positive rate between 2017 and 2025. The demand for medical radiation has shown a considerable surge in the last few years in response to the increasing incidence of chronic ailments, especially cancer. As per the World Health Organization, the new cases of cancer are expected to rise by 70% in the next two decades. The chronic ailment will therefore remain a leading cause of death across the world. Consequently, the demand for advanced treatment for fighting cancer is expected to remain high through the forecast period, thereby giving impetus to the global medical radiation shielding market.
The global medical radiation shielding market can be broadly classified on the basis of solution, product, end user, and region. For instance, sheet lead, shields, lead bricks, booths, barriers, lead lined doors & windows, x-ray rooms, lead glass, lead lined plywood, and lead curtains are a few of the key products available in the global medical radiation shielding market. By solution, the market can be bifurcated into diagnostic shielding and radiation therapy shielding.
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The report covers growth drivers and restraints influencing the market’s trajectory across all its segments. To present a holistic study, the report includes information obtained through proven research methodologies and from trusted industrial sources. It gauges the effect of Porter’s five forces and examines the investment feasibility for new players. Overall the report is intended to provide a clearer perspective of the global medical radiation shielding market to the readers.
Global Medical Radiation Shielding Market: Trends and Opportunities
Various factors support growth witnessed in the global medical radiation shielding market. The rising incidence of cancer will remain the chief driver, besides which the market will gain from the increasing use of nuclear medicine and radiation therapies for accurate diagnosis and cancer treatment. In addition, factors such as the increasing number of installation bases and diagnostic imaging centers, and the growing awareness about safety among people working in radiation-prone environment will aid the market’s expansion. The market is also likely to benefit from the expansion of the healthcare industry worldwide and the upward moving number of people covered under insurance schemes.
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Strong growth witnessed in emerging nations will create an array of opportunities for the medical radiation shielding market. However due to the high cost of MRI scanners, it may witness a few restraints in the forthcoming years.
Global Medical Radiation Shielding Market: Regional Outlook
Regionally, the global medical radiation shielding market will continue witnessing lucrative opportunities in North America, followed by Europe and Asia Pacific. Being a developed market, North America is an attractive hub for enterprises operating in the medical radiation shielding market. However, Asia Pacific will gradually emerge at fore during the course of the forecast period due to the growth witnessed by the market in India and China. Moreover, the rising awareness about radiation safety and the increasing funding in the healthcare sector will fuel the adoption of the medical radiation shielding technology in Asia Pacific.
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Global Medical Radiation Shielding Market: Vendor Landscape
Some of the leading companies operating in the global medical radiation shielding market are Nelco, Inc., ETS-Lindgren, Radiation Protection Products, Ray-Bar Engineering Corp, Amray, and Global Partners in Shielding, Inc. among others. Policies adopted by the leading market players have a profound influence on overall operations. The report therefore includes their in-depth profiles covering recent marketing strategies, mergers and acquisitions, and product port-portfolios.
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