Increasing usage of nuclear medicine and radiation therapy, and growing number of diagnostic imaging centers globally are driving the medical radiation shielding market. Medical radiation shielding products are mainly meant to safeguard human interface from exposure to harmful radiation. Ionizing radiations are mainly used in various industries and for medical diagnostic procedures. These radiations can damage living tissues at a microscopic level when they come in physical contact. Radiation shielding products enables in managing and controlling exposure to ionizing radiations so that deterministic effects can be prevented.
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Increasing Diagnostic Imaging Centers Propels Growth of the Market
Large numbers of diagnostic imaging centers have grown significantly in recent years due to increasing prevalence of chronic diseases. The diseases such as cancer with increase rate of installation of radiology equipment and accessories such as radiation shielding tools and other related setups. This protects people from exposure to large amounts of ionizing radiation, which may cause tumor development, cancer, or other severe side-effects.
Increasing rate of diagnostic imaging centers and prompt installation of radiology equipment, and growing prevalence of chronic diseases such as cancer is expected to fuel the global medical radiation shielding market. Whereas high price of MRI device and procedures is one among the main restraining issue for medical radiation shielding market.
Developing Countries like India and China to Push Demand in Asia Pacific
North America region represents the largest share in the medical radiation shielding market. This is due to an increasing use of radiation therapies for diagnosis and treatment of various diseases in the region. Further, Asia Pacific is expected to have highest CAGR due to increasing government initiatives in improving healthcare infrastructure and facilities. India, China, Brazil, Mexico, and South Africa have been significantly contributing to the growth of medical radiation shielding market.
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Europe is expected show considerable growth in the medical radiation shielding market due to the rising demand of advance medical devices and radiation protection products. The usage of these products has been a boon to both patients and medical professionals during the diagnosis of life-threatening diseases.