The global Medical Radiation Shielding market is segmented on the basis of solution, product, end user and region. 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.
On the basis of products, the overall market of 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 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.
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On the basis of solution, the global market is divided into radiation therapy shielding and diagnostic shielding. In 2016, the diagnostic shielding segment is expected to account for the largest share of the medical radiation shielding market, by solution. Factors driving the growth of this market are the technological advancements and increasing adoption rate of medical diagnostic equipment.
On the basis of end-users, the global medical radiation shielding market includes hospitals and diagnostic centers. The hospitals segment is expected to account for the largest share of the global market in 2016. Increasing number of hospitals and installation base of radiology equipment is the major factors driving the growth of this market.
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Based on geography, the global market is segmented into North America, Europe, Asia, and the Rest of the World (RoW). The market is dominated by North America, followed by Europe, Asia, and the Rest of the World (RoW). However, Asia is expected to witness the highest CAGR, with the growth in this market centered at China and India due to rising awareness about radiation safety, increasing number of hospitals and adoption of radiation therapy.
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.).