Healtcare Medical Radiation Detection, Monitoring, and Safet

Medical Radiation Detection, Monitoring, and Safety Market - Size,
Share Outlook, and Opportunity Analysis, 2018-2026
Radiation power is used in various fields such as industries, agriculture, and medicine to benefit
humankind. It is widely being used in modern medical treatments, especially for the treatment of
cancer, as radiation helps in weakening and destroying particular cancer cells. Modern medicine
uses radiation power to obtain diagnostic information about a patient’s specific organ for treatment.
Medical imaging helps in diagnosing and detection of diseases at early stages. For instance,
exploratory cardiac catheterization is replaced with CT scan for the detection of polyp in the body,
which can turn cancerous if it is not detected at the early stage. Medical radiation detection,
monitoring, and safety market is segmented into detector type, monitoring products, and safety
products. Various types of detectors include solid-state detectors, liquid filled detectors, and
scintillators. Solid-state detectors, which provides good accuracy and reproducibility, are used to
perform in vivo dosimetry and quality control for both radiotherapy and radiology.
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Medical Radiation Detection, Monitoring, and Safety Market: Drivers
Increasing use of radiation therapy for treatment and diagnosis purposes is expected to fuel growth
of medical radiation detection, monitoring, and safety market. According to a study conducted by
the National Academics of Sciences Engineering and Medicine in 2016, over 400 million diagnostic
examinations and around150 million dental X-ray examinations were performed in the 2015.
Increasing prevalence of cancer, rising awareness about use of radiation therapy to treat diseases,
and favorable reimbursement policies are other factors that drive growth of medical radiation
detection, monitoring, and safety market. According to a study conducted by the U.S. Department
of Health & Human Services in 2016, over 80% people in the U.S. have some form of medical
insurance. Mergers and acquisitions adopted by major players are also expected to drive growth of
medical radiation detection, monitoring, and safety market. For instance, in 2014, Elekta, a Sweden-
based company acquired Medical Resonant Inc., a Canada based company. Through this
acquisition, Elekta added new solutions for image guidance and R&D resources in the field of
oncology imaging to their product portfolio. Moreover, innovations in the field of radiation therapy
is expected to boost growth of medical radiation detection, monitoring, and safety market. For
instance, in 2017, QFix, a U.S.-based company launched Access 360 G2 and Access Prone G2, a
radiotherapy positioning technology for precise treatment of breast cancer. These devices reduce
radiation dose to a healthy tissue while improving patient comfort.
However, lack of skilled technicians to use radiation therapy devices and high cost of radiation
therapy devices are factors that hamper growth of the market.