MEDICAL RADIATION SHIELDING MARKET SIZE AND SHARE ANALYSIS - GROWTH TRENDS AND FORECASTS (2024-2031)

Global medical radiation shielding market is estimated to be valued at USD 1.22 Bn in 2024, and is expected to exhibit a CAGR of 4.8% during the forecast period (2024-2031). Medical radiation shielding is an important part of radiology practices and nuclear medicine facilities. Radiation shielding materials are designed to absorb hazardous radiation emitted during medical imaging scans and nuclear medicine procedures, thus, protecting both patients and medical staff. Rapid advancements in medical technologies utilizing ionizing radiation have significantly improved patient care over the years. However, these have also increased the need for proper radiation safety measures. Effective radiation shielding plays a key role in allowing the safe use of highly beneficial diagnostic and therapeutic radiology techniques.

Market Dynamics:

Global medical radiation shielding market growth is driven by increasing volume of radiology examinations performed worldwide. Growing geriatric population and rising cancer prevalence leads  to greater diagnostic scans using technologies like CT, fluoroscopy, and nuclear medicine. However, strict safety regulations surrounding the use of radiation increases implementation and material costs. Designing specialized shielding solutions for various healthcare settings can also hamper the market growth. The continuous technology upgrades in medical imaging modalities can offer opportunities for advanced radiation-absorbing materials. Rising focus on installing shielding in retrofit projects involving older healthcare facilities can also drive the market growth.

Key Features of the Study:

• This report provides an in-depth analysis of the global medical radiation shielding market, and provides market size (USD Bn) and compound annual growth rate (CAGR%) for the forecast period (2024–2031), considering 2023 as the base year
• It elucidates potential revenue growth opportunities across different segments and explains attractive investment proposition matrices for this market
• This study also provides key insights about market drivers, restraints, opportunities, new product launches or approvals, market trends, regional outlook, and competitive strategies adopted by key players
• It profiles key players in the global medical radiation shielding market based on the following parameters – company highlights, products portfolio, key highlights, financial performance, and strategies
• Key companies covered as a part of this includes Marswell Group of Companies, Mirion Technologies, Inc., Esco Micro Pte. Ltd., MAVIG GmbH., Burlington Medical, Gaven Industries, Inc., Nelco, Inc., Marshield, Radiation Protection Products, Inc., Ultraray, Lemer Pax, Berthold Technologies GmbH & Co.KG, SDS Specialist Door Solutions, Scanflex Medical AB, Veritas Medical Solutions LLC, Amray Radiation Protection, ProTechMed
• Insights from this report would allow marketers and the management authorities of the companies to make informed decisions regarding their future product launches, type up-gradation, market expansion, and marketing tactics
• Global medical radiation shielding market caters to various stakeholders in this industry including investors, suppliers, product manufacturers, distributors, new entrants, and financial analysts
• Stakeholders would have ease in decision-making through various strategy matrices used in analyzing the global medical radiation shielding market

Detailed Segmentation-

• By Product Type:
• • Shields
  • Protective Barriers and Booths
  • Radiation Detection & Monitoring Equipment
  • Protective Doors and Windows
  • Lead Curtains & Sheets
  • Others
• By Application:
• • Radiation Therapy Shielding
  • Diagnostic Shielding
• By End User:
• • Hospitals
  • Ambulatory Surgical Centers
  • Others
• By Region:
• • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East
  • Africa
• Company Profiles:
• • Marswell Group of Companies
  • Mirion Technologies, Inc. 
  • Esco Micro Pte. Ltd.
  • MAVIG GmbH.
  • Burlington Medical
  • Gaven Industries, Inc.
  • Nelco, Inc.
  • Marshield
  • Radiation Protection Products, Inc.
  • Ultraray 
  • Lemer Pax
  • Berthold Technologies GmbH & Co.KG
  • SDS Specialist Door Solutions
  • Scanflex Medical AB
  • Veritas Medical Solutions LLC
  • Amray Radiation Protection
  • ProTechMed