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.
The medical radiation shielding market is expected to reach $1,330.0 million by 2021 from $989.2 million in 2016, at a CAGR of 6.1%.
Market Dynamics
+ Drivers
+ Increasing Usage of Nuclear Medicine and Radiation Therapy for Diagnosis and Treatment
+ Growing Incidences of Cancer
+ Increasing Number of Diagnostic Imaging Centers and Installation Base of Radiology Equipment
+ Increasing Safety Awareness Among People Working in Radiation-Prone Environments
+ Growing Healthcare Industry Worldwide
+ Growth in the Number of People Covered Under Insurance
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“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 high share of this segment is attributed to the increasing installation base of MRI scanners worldwide.
“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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