The medical radiation detection, monitoring, & safety market has garnered USD 2,140.8 million in 2021, and it is projected to rise at the rate of 8.3% from 2021 to 2030, to capture USD 4,373.8 million by 2030, As per the report by market research company, P&S Intelligence.
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This growth can be ascribed to the rising elderly population, high occurrence of cancer, mounting number of diagnostic imaging centers, and snowballing number of nuclear and radio diagnostic and healing procedures.
In 2021, detectors generated the highest revenue share of USD 427.0 million, and it is also estimated to grow at a CAGR of approximately 9% in the coming few years. This is mainly because the demand for medical radiation detection is growing because of the increasing volume of radiographic events and growing knowledge regarding the importance of radiation protection among medical professionals.
In the past few years, North America had the largest market share and is projected to develop at a CAGR, of 8.6%, during the forecast period. The continent is dominating the industry because of the growing awareness of the health dangers formed by dangerous radiation and the increasing occurrence of cancer.
Likewise, the increasing radiation protection knowledge and growing count of radio diagnostic methods are driving the medical radiation detection, monitoring, and safety market in the region.
Hence, the rising elderly population, high occurrence of cancer, mounting number of diagnostic imaging centers, and snowballing number of nuclear and radio diagnostic and healing procedures, are the major factors contributing to the growth medical radiation detection, monitoring, and safety industry.
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