The North America Medical Radiation Shielding Market would witness market growth of 5.5% CAGR during the forecast period (2023-2030).
The market is driven primarily by rising medical radiation exposure prevalence. The government's increased emphasis on enforcing regulations, as well as advantages offered by medical radiation shielding like radiation exposure prevention, low maintenance costs, an increase in the number of medical imaging diagnostic systems, and ease of use, are also anticipated to support the market's expansion over the forecast period.
Due to an increase in the frequency of chronic diseases like cancer, the number of diagnostic imaging facilities has grown dramatically in recent years. This is contributing to the increase in demand for medical radiation shielding. The requirement for auxiliary settings, including radiation shielding tools and other associated devices, has increased along with the rapid installation of radiology equipment. Ionizing radiation exposure over an extended period can devastate one's health by increasing the risk of cancer, tumor formation, and other serious side effects. Therefore, protecting oneself from dangerous radiation while working in such conditions is crucial. Additionally, the market is anticipated to benefit from rising awareness regarding safety while handling radioactive equipment.
As per Center for Disease Control and Prevention (CDC), in the US, breast cancer is one of the most prevalent diseases in women. Although the number of breast cancer deaths has decreased, it is still the second most common cancer among all women. In the United States, around 264,000 women and 2,400 men are diagnosed with breast cancer yearly. The number of new cancer cases continues to rise steadily as the Canadian population grows and ages. Also, the prevalence of other chronic conditions is rising in the regional nations. With this rising number of cancer cases, the need for products such as medical radiation shielding will grow, thereby leading to regional market growth.
The US market dominated the North America Medical Radiation Shielding Market by Country in 2022, and would continue to be a dominant market till 2030; thereby, achieving a market value of $568.1 million by 2030. The Canada market is poised to grow at a CAGR of 7.9% during (2023 - 2030). Additionally, The Mexico market would register a CAGR of 7% during (2023 - 2030).
Based on Product, the market is segmented into MRI Shielding Products, High-Density Concrete Blocks, Lead Lined Glass, Doors & Windows, Lead Lined Drywalls & Plywood, Lead Bricks, X-ray Rooms, Lead Curtains, Lead Acrylic, Lead Sheet, and Others. Based on Solution, the market is segmented into Diagnostic Shielding (MRI, CT Scanners, X-ray, and Nuclear Imaging), and Radiation Therapy Shielding (Linear Accelerators, Multimodality, Cyclotron, Brachytherapy, and Proton Therapy). Based on End User, the market is segmented into Hospitals, Clinics & ASCs, and Diagnostic Centers. Based on countries, the market is segmented into U.S., Mexico, Canada, and Rest of North America.
Free Valuable Insights: The Worldwide Medical Radiation Shielding Market is Projected to reach USD 2.1 Billion by 2030, at a CAGR of 6.2%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Mirion Technologies, Inc., ETS- Lindgren, Inc. (ESCO Technologies, Inc.), Nelco Worldwide, Gaven Industries, Inc. (3RC), MarShield (Marswell Group of companies), Ray-Bar Engineering Corp, Amray Group Ltd., A&L Shielding, Radiation Protection Products, Inc., and Global Partners in Shielding, Inc.
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