Medical Radiation Shielding Market worth 1,330.0 Million USD by 2021

The global medical radiation shielding market is expected to reach USD 1330.0 Million by 2021 from USD 989.2 Million in 2016, at a CAGR of 6.1%.

The report "Medical Radiation Shielding Market by Products (X-Ray, Shields, Booths, Sheet Lead, Bricks, Curtain), Solution (Radiation Therapy, Cyclotron, Multimodality, PET, SPECT, CT, MRI), End User (Hospitals, Diagnostics Center) - Global Forecasts to 2021", report provides a detailed overview of the major drivers, restraints, challenges, opportunities, current market trends, and strategies impacting the medical radiation shielding market along with the estimates and forecasts of the revenue and market share analysis.

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The global medical radiation shielding market is expected to reach USD 1330.0 Million by 2021 from USD 989.2 Million in 2016, at a CAGR of 6.1%. 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.

The reporting segments in this market include products, solutions, end user, and regions. On the basis of products, the medical radiation shielding market 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 products 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 higher MRI installation base across the globe.

The global medical radiation shielding market by solution includes the radiation therapy shielding solutions and diagnostic shielding solutions. Diagnostic shielding segment is expected to account for the largest share of the market during the forecast period. Growth in this segment is driven by the factors such as technological advancements and increasing adoption rate of medical diagnostic equipment.

On the basis of end-users, the medical radiation shielding market includes hospitals and diagnostic centers. The hospitals segment is expected to account for the largest share of the global medical radiation shielding market in 2016. Increasing number of hospitals and installation base of radiology equipment is the major factors driving the growth of this market.

Geographically, the global medical radiation shielding market is segmented into North America, Europe, Asia and Row. Asia is expected to grow at the highest CAGR during the forecast period. Growth in this segment is driven by the factors such as rising awareness for radiation protection in the medical field, growing number of hospitals, rising incidences of cancer, increasing number of radiological imaging systems installed, and rising adoption of radiation therapy for the treatment of diseases are driving the growth of the medical radiation shielding market in this region.

The key players in the medical radiation shielding market are ETS-Lindgren (US), Nelco, Inc. (U.S.), Radiation Protection Products (U.S.), MarShield, (Canada), Ray-Bar Engineering Corp (U.S.), Amray (Ireland), Gaven Industries, Inc. (U.S.), A&L Shielding (Rome), Global Partners in Shielding, Inc. (U.S.), and Veritas Medical Solutions LLC (U.S.).