Medical Radiation Shielding Market to Surpass USD 1 Billion by 2022

By MedImaging International staff writers
Posted on 16 Apr 2019

Image: The global medical radiation shielding market is projected to reach a value of USD 1 billion by the end of 2022 (Photo courtesy of TMR).

The global medical radiation shielding market is projected to register a CAGR of 4.8% over the forecast period from 2017 to 2022 to reach a value of USD 1 billion by 2022-end. The market growth is being driven mainly by growing awareness about the adverse effects of medical radiation on human health that is fueling the adoption of medical radiation shielding.

These are the latest findings of Transparency Market Research, (Albany, NY, USA), a global market intelligence company providing business information reports and services.

The growing usage of nuclear medicine and radiation therapy for the diagnosis and treatment of life-threatening diseases such as cancer is also contributing positively to the growth of the global medical radiation shielding market. Additionally, the increasing number of diagnostic imaging centers to curb the rising incidence of cancer globally is boosting the demand for radiology equipment and consequently, for medical radiation shielding. Further, the growing demand for radiation therapy is also boosting the growth of the medical radiation shielding market.

Also, increasing government support is further supporting the growth of the global medical radiation shielding market. In addition to this, rising awareness about the significant health hazards posed by medical radiation among patients is boosting the adoption of medical equipment, which protects them from radiation. However, the lack of professional and trained workers for handling these shielding and knowledge of doses of consuming the type of shielding poses a challenge to the market growth to some extent. Nevertheless, the growing importance of sufficient medical radiation shielding in imaging, particularly in diagnostic facilities, in order to protect the medical staff as well as patients is expected to offer lucrative opportunities for market growth over the forecast period.

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