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.
Market Size
The global 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%.
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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”
Based on products, the market for medical radiation shielding 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. The MRI shielding segment is expected to account for the largest share of the global medical radiation shielding market in 2016. The high market share of this segment is attributed to the increasing number of MRI installations worldwide.
“The radiation therapy segment is expected to grow at the CAGR during the forecast period”
Based on solutions, the market for medical radiation shielding is segmented into medical radiation shielding and diagnostic shielding. The radiation therapy segment is expected to grow at the CAGR during the forecast period owing to the increasing number of increasing number of cancer patients globally.
“The hospitals segment is projected to witness the highest growth rate”
Based on end user, the market for medical radiation shielding is segmented into hospitals and diagnostic centers. The hospitals segment is projected to witness the highest growth rate in this market due to extensive usage of radiation therapy for cancer treatment by hospitals.
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