Global Medical Radiation Shielding Market Size study & Forecast, by Solution (Radiation Therapy Shielding, Diagnostic Shielding) by End User (Hospitals and Diagnostic Centers, Research Institutes, Other End Users) and Regional Analysis, 2023-2030
Global Medical Radiation Shielding Market is valued approximately at USD 1.4 billion in 2022 and is anticipated to grow with a healthy growth rate of more than 6.5% over the forecast period 2023-2030. Medical radiation shielding involves the use of various materials and techniques to protect patients, medical personnel and the general public from the harmful effects of ionizing radiation that are often used in medical imaging and treatments. Ionizing radiation, such as X-rays and gamma rays, can potentially damage live tissues and cells, leading to health risks such as radiation-induced cancers and other adverse effects. The key factors driving the market growth is rising prevalence of cancer, rising safety awareness among people working in radiation-prone environments, growing number of PET/CT scans, and rising number of trained radiologic technologists that anticipated to support the market growth.
Moreover, the rising prevalence of cancer plays a significant role in supporting the growth of the Medical Radiation Shielding Market. As the incidence of cancer continues to rise, the number of diagnostic imaging procedures such as X-rays, CT scans, and nuclear medicine scans also increases. Additionally, cancer treatments such as radiation therapy are common. These procedures expose patients to ionizing radiation, which necessitates the use of effective radiation shielding to protect both patients and healthcare professionals from potential harmful effects. According to International Agency for Research on Cancer, in 2020 the new cases of pancreatic cancer in China were 125 thousand and it is anticipated to reach 149 thousand by 2025. In United States of America, the new cases of pancreatic cancer in 2020 were 56.7 thousand and by 2025 the number is anticipated to reach 62.9 thousand. Additionally, rising healthcare expenditure across developing countries and increasing public-private investments in cancer research is anticipated to create the lucrative opportunity for the market growth during the forecast period. However, the lack of adequate healthcare infrastructure and shortage of skilled oncologists/radiologist stifles market growth throughout the forecast period of 2023-2030.
The key regions considered for the Global Medical Radiation Shielding Market study includes Asia Pacific, North America, Europe, Latin America, and Middle East & Africa. North America dominated the market in 2022 owing to the rising number of radiography procedures, cohesive government initiatives, and presence of key market players. Whereas, the Asia Pacific is expected to grow with the fastest growth rate during the forecast period, owing to factors such as the rising healthcare spending, growing awareness about radiation exposure, and favorable government policies and healthcare infrastructure.
Major market player included in this report are:
ETS-Lindgren
Radiation Protection Products, Inc.
Veritas Medical Solutions LLC
Ray-Bar Engineering Corp.
Gaven Industries Inc.
Global Partners in Shielding, Inc.
Medical Shielding Solutions
Mars Metal Company
Nuclear Lead Co. Inc.
A&L Shielding
Recent Developments in the Market:
The report also caters detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, it also incorporates potential opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
By Solution:
Radiation Therapy Shielding
Diagnostic Shielding
By End User:
Hospitals and Diagnostic Centers
Research Institutes
Other End Users
By Region:
North America
U.S.
Canada
Europe
UK
Germany
France
Spain
Italy
ROE
Asia Pacific
China
India
Japan
Australia
South Korea
RoAPAC
Latin America
Brazil
Mexico
Middle East & Africa
Saudi Arabia
South Africa
Rest of Middle East & Africa
Moreover, the rising prevalence of cancer plays a significant role in supporting the growth of the Medical Radiation Shielding Market. As the incidence of cancer continues to rise, the number of diagnostic imaging procedures such as X-rays, CT scans, and nuclear medicine scans also increases. Additionally, cancer treatments such as radiation therapy are common. These procedures expose patients to ionizing radiation, which necessitates the use of effective radiation shielding to protect both patients and healthcare professionals from potential harmful effects. According to International Agency for Research on Cancer, in 2020 the new cases of pancreatic cancer in China were 125 thousand and it is anticipated to reach 149 thousand by 2025. In United States of America, the new cases of pancreatic cancer in 2020 were 56.7 thousand and by 2025 the number is anticipated to reach 62.9 thousand. Additionally, rising healthcare expenditure across developing countries and increasing public-private investments in cancer research is anticipated to create the lucrative opportunity for the market growth during the forecast period. However, the lack of adequate healthcare infrastructure and shortage of skilled oncologists/radiologist stifles market growth throughout the forecast period of 2023-2030.
The key regions considered for the Global Medical Radiation Shielding Market study includes Asia Pacific, North America, Europe, Latin America, and Middle East & Africa. North America dominated the market in 2022 owing to the rising number of radiography procedures, cohesive government initiatives, and presence of key market players. Whereas, the Asia Pacific is expected to grow with the fastest growth rate during the forecast period, owing to factors such as the rising healthcare spending, growing awareness about radiation exposure, and favorable government policies and healthcare infrastructure.
Major market player included in this report are:
ETS-Lindgren
Radiation Protection Products, Inc.
Veritas Medical Solutions LLC
Ray-Bar Engineering Corp.
Gaven Industries Inc.
Global Partners in Shielding, Inc.
Medical Shielding Solutions
Mars Metal Company
Nuclear Lead Co. Inc.
A&L Shielding
Recent Developments in the Market:
- In September 2022, ESCO Technologies collaborated with IMRIS and Deerfield Imaging on an advanced MRI facility at Boston Children's Hospital in Boston, Massachusetts. The newly opened Hale Family facility will offer diagnostic and treatment capabilities during surgery using IMRIS' innovative on-demand intraoperative MRI (iMRI).
- Historical Data – 2020 - 2021
- Base Year for Estimation – 2022
- Forecast period - 2023-2030
- Report Coverage - Revenue forecast, Company Ranking, Competitive Landscape, Growth factors, and Trends
- Segments Covered – Solution, End User, Region
- Regional Scope - North America; Europe; Asia Pacific; Latin America; Middle East & Africa
- Customization Scope - Free report customization (equivalent up to 8 analyst’s working hours) with purchase. Addition or alteration to country, regional & segment scope*
The report also caters detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, it also incorporates potential opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
By Solution:
Radiation Therapy Shielding
Diagnostic Shielding
By End User:
Hospitals and Diagnostic Centers
Research Institutes
Other End Users
By Region:
North America
U.S.
Canada
Europe
UK
Germany
France
Spain
Italy
ROE
Asia Pacific
China
India
Japan
Australia
South Korea
RoAPAC
Latin America
Brazil
Mexico
Middle East & Africa
Saudi Arabia
South Africa
Rest of Middle East & Africa
CHAPTER 1. EXECUTIVE SUMMARY
1.1. Market Snapshot
1.2. Global & Segmental Market Estimates & Forecasts, 2020-2030 (USD Billion)
1.2.1. Medical Radiation Shielding Market, by region, 2020-2030 (USD Billion)
1.2.2. Medical Radiation Shielding Market, by Solution, 2020-2030 (USD Billion)
1.2.3. Medical Radiation Shielding Market, by End User, 2020-2030 (USD Billion)
1.3. Key Trends
1.4. Estimation Methodology
1.5. Research Assumption
CHAPTER 2. GLOBAL MEDICAL RADIATION SHIELDING MARKET DEFINITION AND SCOPE
2.1. Objective of the Study
2.2. Market Definition & Scope
2.2.1. Industry Evolution
2.2.2. Scope of the Study
2.3. Years Considered for the Study
2.4. Currency Conversion Rates
CHAPTER 3. GLOBAL MEDICAL RADIATION SHIELDING MARKET DYNAMICS
3.1. Medical Radiation Shielding Market Impact Analysis (2020-2030)
3.1.1. Market Drivers
3.1.1.1. Rising prevalence of cancer
3.1.1.2. Rising safety awareness among people working in radiation-prone environments
3.1.1.3. Growing number of PET/CT scans
3.1.2. Market Challenges
3.1.2.1. Lack of adequate healthcare infrastructure
3.1.2.2. Shortage of skilled oncologists/radiologist
3.1.3. Market Opportunities
3.1.3.1. Rising healthcare expenditure across developing countries
3.1.3.2. Increasing public-private investments in cancer research
CHAPTER 4. GLOBAL MEDICAL RADIATION SHIELDING MARKET: INDUSTRY ANALYSIS
4.1. Porter’s 5 Force Model
4.1.1. Bargaining Power of Suppliers
4.1.2. Bargaining Power of Buyers
4.1.3. Threat of New Entrants
4.1.4. Threat of Substitutes
4.1.5. Competitive Rivalry
4.2. Porter’s 5 Force Impact Analysis
4.3. PEST Analysis
4.3.1. Political
4.3.2. Economic
4.3.3. Social
4.3.4. Technological
4.3.5. Environmental
4.3.6. Legal
4.4. Top investment opportunity
4.5. Top winning strategies
4.6. COVID-19 Impact Analysis
4.7. Disruptive Trends
4.8. Industry Expert Perspective
4.9. Analyst Recommendation & Conclusion
CHAPTER 5. GLOBAL MEDICAL RADIATION SHIELDING MARKET, BY SOLUTION
5.1. Market Snapshot
5.2. Global Medical Radiation Shielding Market by Solution, Performance - Potential Analysis
5.3. Global Medical Radiation Shielding Market Estimates & Forecasts by Solution 2020-2030 (USD Billion)
5.4. Medical Radiation Shielding Market, Sub Segment Analysis
5.4.1. Radiation Therapy Shielding
5.4.2. Diagnostic Shielding
CHAPTER 6. GLOBAL MEDICAL RADIATION SHIELDING MARKET, BY END USER
6.1. Market Snapshot
6.2. Global Medical Radiation Shielding Market by End User, Performance - Potential Analysis
6.3. Global Medical Radiation Shielding Market Estimates & Forecasts by End User 2020-2030 (USD Billion)
6.4. Medical Radiation Shielding Market, Sub Segment Analysis
6.4.1. Hospitals and Diagnostic Centers
6.4.2. Research Institutes
6.4.3. Other End Users
CHAPTER 7. GLOBAL MEDICAL RADIATION SHIELDING MARKET, REGIONAL ANALYSIS
7.1. Top Leading Countries
7.2. Top Emerging Countries
7.3. Medical Radiation Shielding Market, Regional Market Snapshot
7.4. North America Medical Radiation Shielding Market
7.4.1. U.S. Medical Radiation Shielding Market
7.4.1.1. Solution breakdown estimates & forecasts, 2020-2030
7.4.1.2. End User breakdown estimates & forecasts, 2020-2030
7.4.2. Canada Medical Radiation Shielding Market
7.5. Europe Medical Radiation Shielding Market Snapshot
7.5.1. U.K. Medical Radiation Shielding Market
7.5.2. Germany Medical Radiation Shielding Market
7.5.3. France Medical Radiation Shielding Market
7.5.4. Spain Medical Radiation Shielding Market
7.5.5. Italy Medical Radiation Shielding Market
7.5.6. Rest of Europe Medical Radiation Shielding Market
7.6. Asia-Pacific Medical Radiation Shielding Market Snapshot
7.6.1. China Medical Radiation Shielding Market
7.6.2. India Medical Radiation Shielding Market
7.6.3. Japan Medical Radiation Shielding Market
7.6.4. Australia Medical Radiation Shielding Market
7.6.5. South Korea Medical Radiation Shielding Market
7.6.6. Rest of Asia Pacific Medical Radiation Shielding Market
7.7. Latin America Medical Radiation Shielding Market Snapshot
7.7.1. Brazil Medical Radiation Shielding Market
7.7.2. Mexico Medical Radiation Shielding Market
7.8. Middle East & Africa Medical Radiation Shielding Market
7.8.1. Saudi Arabia Medical Radiation Shielding Market
7.8.2. South Africa Medical Radiation Shielding Market
7.8.3. Rest of Middle East & Africa Medical Radiation Shielding Market
CHAPTER 8. COMPETITIVE INTELLIGENCE
8.1. Key Company SWOT Analysis
8.1.1. Company
8.1.2. Company
8.1.3. Company
8.2. Top Market Strategies
8.3. Company Profiles
8.3.1. ETS-Lindgren
8.3.1.1. Key Information
8.3.1.2. Overview
8.3.1.3. Financial (Subject to Data Availability)
8.3.1.4. Product Summary
8.3.1.5. Recent Developments
8.3.2. Radiation Protection Products, Inc.
8.3.3. Veritas Medical Solutions LLC
8.3.4. Ray-Bar Engineering Corp.
8.3.5. Gaven Industries Inc.
8.3.6. Global Partners in Shielding, Inc.
8.3.7. Medical Shielding Solutions
8.3.8. Mars Metal Company
8.3.9. Nuclear Lead Co. Inc.
8.3.10. A&L Shielding
CHAPTER 9. RESEARCH PROCESS
9.1. Research Process
9.1.1. Data Mining
9.1.2. Analysis
9.1.3. Market Estimation
9.1.4. Validation
9.1.5. Publishing
9.2. Research Attributes
9.3. Research Assumption
1.1. Market Snapshot
1.2. Global & Segmental Market Estimates & Forecasts, 2020-2030 (USD Billion)
1.2.1. Medical Radiation Shielding Market, by region, 2020-2030 (USD Billion)
1.2.2. Medical Radiation Shielding Market, by Solution, 2020-2030 (USD Billion)
1.2.3. Medical Radiation Shielding Market, by End User, 2020-2030 (USD Billion)
1.3. Key Trends
1.4. Estimation Methodology
1.5. Research Assumption
CHAPTER 2. GLOBAL MEDICAL RADIATION SHIELDING MARKET DEFINITION AND SCOPE
2.1. Objective of the Study
2.2. Market Definition & Scope
2.2.1. Industry Evolution
2.2.2. Scope of the Study
2.3. Years Considered for the Study
2.4. Currency Conversion Rates
CHAPTER 3. GLOBAL MEDICAL RADIATION SHIELDING MARKET DYNAMICS
3.1. Medical Radiation Shielding Market Impact Analysis (2020-2030)
3.1.1. Market Drivers
3.1.1.1. Rising prevalence of cancer
3.1.1.2. Rising safety awareness among people working in radiation-prone environments
3.1.1.3. Growing number of PET/CT scans
3.1.2. Market Challenges
3.1.2.1. Lack of adequate healthcare infrastructure
3.1.2.2. Shortage of skilled oncologists/radiologist
3.1.3. Market Opportunities
3.1.3.1. Rising healthcare expenditure across developing countries
3.1.3.2. Increasing public-private investments in cancer research
CHAPTER 4. GLOBAL MEDICAL RADIATION SHIELDING MARKET: INDUSTRY ANALYSIS
4.1. Porter’s 5 Force Model
4.1.1. Bargaining Power of Suppliers
4.1.2. Bargaining Power of Buyers
4.1.3. Threat of New Entrants
4.1.4. Threat of Substitutes
4.1.5. Competitive Rivalry
4.2. Porter’s 5 Force Impact Analysis
4.3. PEST Analysis
4.3.1. Political
4.3.2. Economic
4.3.3. Social
4.3.4. Technological
4.3.5. Environmental
4.3.6. Legal
4.4. Top investment opportunity
4.5. Top winning strategies
4.6. COVID-19 Impact Analysis
4.7. Disruptive Trends
4.8. Industry Expert Perspective
4.9. Analyst Recommendation & Conclusion
CHAPTER 5. GLOBAL MEDICAL RADIATION SHIELDING MARKET, BY SOLUTION
5.1. Market Snapshot
5.2. Global Medical Radiation Shielding Market by Solution, Performance - Potential Analysis
5.3. Global Medical Radiation Shielding Market Estimates & Forecasts by Solution 2020-2030 (USD Billion)
5.4. Medical Radiation Shielding Market, Sub Segment Analysis
5.4.1. Radiation Therapy Shielding
5.4.2. Diagnostic Shielding
CHAPTER 6. GLOBAL MEDICAL RADIATION SHIELDING MARKET, BY END USER
6.1. Market Snapshot
6.2. Global Medical Radiation Shielding Market by End User, Performance - Potential Analysis
6.3. Global Medical Radiation Shielding Market Estimates & Forecasts by End User 2020-2030 (USD Billion)
6.4. Medical Radiation Shielding Market, Sub Segment Analysis
6.4.1. Hospitals and Diagnostic Centers
6.4.2. Research Institutes
6.4.3. Other End Users
CHAPTER 7. GLOBAL MEDICAL RADIATION SHIELDING MARKET, REGIONAL ANALYSIS
7.1. Top Leading Countries
7.2. Top Emerging Countries
7.3. Medical Radiation Shielding Market, Regional Market Snapshot
7.4. North America Medical Radiation Shielding Market
7.4.1. U.S. Medical Radiation Shielding Market
7.4.1.1. Solution breakdown estimates & forecasts, 2020-2030
7.4.1.2. End User breakdown estimates & forecasts, 2020-2030
7.4.2. Canada Medical Radiation Shielding Market
7.5. Europe Medical Radiation Shielding Market Snapshot
7.5.1. U.K. Medical Radiation Shielding Market
7.5.2. Germany Medical Radiation Shielding Market
7.5.3. France Medical Radiation Shielding Market
7.5.4. Spain Medical Radiation Shielding Market
7.5.5. Italy Medical Radiation Shielding Market
7.5.6. Rest of Europe Medical Radiation Shielding Market
7.6. Asia-Pacific Medical Radiation Shielding Market Snapshot
7.6.1. China Medical Radiation Shielding Market
7.6.2. India Medical Radiation Shielding Market
7.6.3. Japan Medical Radiation Shielding Market
7.6.4. Australia Medical Radiation Shielding Market
7.6.5. South Korea Medical Radiation Shielding Market
7.6.6. Rest of Asia Pacific Medical Radiation Shielding Market
7.7. Latin America Medical Radiation Shielding Market Snapshot
7.7.1. Brazil Medical Radiation Shielding Market
7.7.2. Mexico Medical Radiation Shielding Market
7.8. Middle East & Africa Medical Radiation Shielding Market
7.8.1. Saudi Arabia Medical Radiation Shielding Market
7.8.2. South Africa Medical Radiation Shielding Market
7.8.3. Rest of Middle East & Africa Medical Radiation Shielding Market
CHAPTER 8. COMPETITIVE INTELLIGENCE
8.1. Key Company SWOT Analysis
8.1.1. Company
8.1.2. Company
8.1.3. Company
8.2. Top Market Strategies
8.3. Company Profiles
8.3.1. ETS-Lindgren
8.3.1.1. Key Information
8.3.1.2. Overview
8.3.1.3. Financial (Subject to Data Availability)
8.3.1.4. Product Summary
8.3.1.5. Recent Developments
8.3.2. Radiation Protection Products, Inc.
8.3.3. Veritas Medical Solutions LLC
8.3.4. Ray-Bar Engineering Corp.
8.3.5. Gaven Industries Inc.
8.3.6. Global Partners in Shielding, Inc.
8.3.7. Medical Shielding Solutions
8.3.8. Mars Metal Company
8.3.9. Nuclear Lead Co. Inc.
8.3.10. A&L Shielding
CHAPTER 9. RESEARCH PROCESS
9.1. Research Process
9.1.1. Data Mining
9.1.2. Analysis
9.1.3. Market Estimation
9.1.4. Validation
9.1.5. Publishing
9.2. Research Attributes
9.3. Research Assumption
