The medical radiation shielding market is expected to grow substantially in the coming years as the use of radiation for medical diagnosis and treatment increases globally. A new report projects the market will reach $1.8 billion by 2028, up from $1.4 billion in 2023.

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Radiation shielding refers to barriers made of dense materials like lead that block harmful x-rays and other ionizing radiation used in medical imaging and cancer treatments. Shielding protects healthcare workers who operate equipment and prevents radiation from spreading beyond its intended targets, whether that’s a patient’s tumor or body part being scanned.

Several factors are driving growth in the medical radiation shielding market. The report cites increasing usage of nuclear medicine and radiation therapy as one key driver. As cancer rates rise worldwide, radiation is being used more frequently to diagnose and treat tumors. Nuclear medicine, which involves injecting radioactive material into the body, is also becoming more common.

In addition, greater awareness of safety issues is boosting demand for shielding products. More hospitals and clinics want to protect staff working around radiation equipment. There are also stricter regulations about exposure limits in many countries.

The report highlights other positives trends in the market:

• Hospitals are the largest end users of shielding products due to the growth in radiation therapy and nuclear medicine procedures. More new cancer cases are being treated with radiation each year.
• MRI shielding is the fastest growing product segment as MR scanning volumes increase globally. Powerful MRI magnets require extensive shielding for containment.
• Rising health expenditures in developing nations are expanding access to radiology equipment and cancer treatment, driving adoption of shielding products.

While the outlook is robust overall, the report notes some challenges facing the medical radiation shielding market:

• Lack of adequate healthcare infrastructure in poorer countries limits use of shielding products. Radiotherapy devices require significant space and capital investment.
• Lead is a major component of shields, but growing global demand has driven up lead costs. This increases expenses for shielding manufacturers.
• Upfront costs of comprehensive shielding solutions are high, which deters smaller healthcare facilities with tight budgets from investing fully.

Still, the market is poised for healthy expansion as radiation utilization in medicine continues to grow. Key players in the global medical radiation shielding market include ESCO Technologies, Mirion Technologies and Nelco Worldwide. These companies are likely to benefit from increasing demand for their shielding products.

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Overall, the outlook for the medical radiation shielding market is positive. With greater use of radiation in healthcare, protecting doctors, technicians and patients from unnecessary exposure is crucial. More healthcare facilities globally are prioritizing safety and compliance by installing medical radiation shielding systems. This will lead to steady industry growth for years to come.