Rising prevalence of side-effects from medical radiation exposure around the world is driving the global medical radiation shielding market, says Fortune Business Insights in a report, titled “Medical Radiation Shielding Market Size, Share and Global Trend By Imaging Equipment (X-Ray, Magnetic Resonance Imaging (MRI),Computed Tomography, Ultrasound, Others), By Product (Building Materials (Sheet Lead, Bricks, Curtain, and Others), Wearables, Others), By End User (Hospitals, Diagnostic Centres, Cancer Centres, Biopharmaceutical Companies, Others) and Geography Forecast till 2026.” Rising emphasis on implementation of regulations by government authorities is predicted to contribute positively to the global medical radiation shielding market.
Key players leading the global Medical Radiation Shielding Market include
- Radiation Protection Products, Inc.,
- Veritas Medical Solutions LLC,
- RAY-BAR ENGINEERING CORP.,
- Gaven Industries Inc.,
- Global Partners in Shielding, Inc.,
- MEDICAL SHIELDING SOLUTIONS,
- Mars Metal Company,
- Nuclear Lead Co. Inc.,
- A&L Shielding
FDA Approval for Two New Products by Corning Incorporated Will Propel Growth
Corning Incorporated, an American multinational company technology company launched two new products – Corning® Med-X® Glass and Corning® Med-Gamma® Glass, after receiving approval from the Food and Drug Administration. Corning® Med-X® Glass and Corning® Med-Gamma® Glass will be used under the classification of Radiology devices / Personnel protective shield. These two glass product categories are used as Class I medical devices as defined by the FDA. The announcement of these products are likely to aid medical radiation shielding market growth owing to the company becoming the first radiation-shielding glass manufacturer on the market to provide its customers and their end-customers with full compliance and traceability with their new products. Furthermore, the launch of new radiation safety guidance for healthcare resources is expected to uplift the global medical radiation shielding market share. For instance, British Institute of Radiology (BIR) launched new radiation safety guidance for healthcare resources with the aim to prevent radiation exposure amongst them. The new guidance provides information about radiation shielding methods, shielding materials, and risk assessments.
Increasing Cases of Medical Radiation Exposure Will Aid Expansion
The rising prevalence of medical radiation exposure is driving the global medical radiation shielding market. Increasing emphasis on implementation of regulations by government authorities is predicted to benefit the medical radiation shielding market. Certain benefits provided by medical radiation shielding such as prevention from radiation exposure and minimal maintenance cost is also predicted to favor growth to the global medical radiation shielding market. In addition, ease of use is also a factor predicted to contribute to the global medical radiation shielding market growth in the forthcoming year. However, the reluctance of healthcare institutions o install radiation shielding systems and lack of expertise in medical radiation shielding are factors predicted to hamper the growth of the global medical radiation shielding market during the forecast period.
By Imaging Equipment
- Magnetic Resonance Imaging (MRI),
- Computed Tomography
- Building Materials (Sheet Lead, Bricks, Curtain, and Others)
By End User
- Diagnostic Centres
- Cancer Centres
- Biopharmaceutical Companies
- North America (USA and Canada)
- Europe (UK, Germany, France, Italy, Spain, Scandinavia and Rest of Europe)
- Asia Pacific (Japan, China, India, Australia, Southeast Asia and Rest of Asia Pacific)
- Latin America (Brazil, Mexico and Rest of Latin America)
- Middle East & Africa (South Africa, GCC and Rest of Middle East & Africa)
Rising Prevalence of Chronic Disorders Will Enable Growth in North America
Geographically, the global medical radiation shielding market is segmented into North America, Europe, Asia Pacific, Latin America and the Middle East and Africa. North America is expected to dominate the global medical radiation shielding market owing to the rising prevalence of disorders due to medical radiation exposures. Furthermore, a rising number of diagnostic imaging systems is predicted to play an important role in the growth of the global medical radiation shielding market in the region. According to research conducted by Organization for Economic Co-operation and Development, a number of magnetic resonance imaging systems grew by 369 during 2016-2017 in the U.S. alone. Asia Pacific and the Middle East & Africa hold huge potential for growth of the global medical radiation shielding market owing to growing medical radiation exposure and an increasing number of imaging diagnostic systems. Additionally, protection and safety offered by medical shielding equipment are factors expected to fuel demand in Asia Pacific market during the forecast period.