New NanoMarkets Report States Radiation Detection for Medical and Healthcare Markets Projected to Reach $22 billion by 2022
Published: December 16, 2014 Category: Smart Technology
Glen Allen, VA:  According to a new report from industry analyst firm NanoMarkets,  the market for radiation detection in medical and healthcare applications will totaling $17 billion today and rise to roughly $22 billion by 2022. Details of the new report, “Radiation Detection in Medical and Healthcare Markets 2015-2022” including a downloadable excerpt, are available at:
About the Report:
In this report, NanoMarkets explores the revenue potential for radiation detection in X-ray radiation detection (including densitometry, DEXA, CT, CR) and gamma radiation detection (including IGRT, proton therapy, SPECT, and PET techniques). We also analyze the products and marketing strategies of the leading suppliers of radiation detection equipment in the markets covered. This report includes granular eight-year forecasts (volume and value) broken out by device types and world region.
Companies discussed in this report include:  Biopack Medical, Bracco Diagnostics, Carestream Health, Elekta , Fujifilm Medical, GE Healthcare, Hitachi Medical Systems America , Hologic, Konica Minolta Medical Imaging, Kromek, Landauer, Lantheus Medical Imaging, Philips Healthcare, Siemens Healthcare , Toshiba America Medical Systems, and Varian Medical Systems.
Highlights from the Report:
The radiography sector is one of the largest segments in medical imaging and is considered the most basic analytical technique in healthcare. Its involvement in preliminary stages of disease diagnosis or testing of anomalies creates a large market for this equipment. Detectors combined with X-ray scintillators are widely used in medical applications. Semiconductor integration technology is supporting enhanced image quality details and process speed for X-ray CT.
In this increasingly digitized healthcare environment, NanoMarkets expects continued conversion of traditional methodology to automated computer-friendly techniques as facilities seek to optimize efficiencies and streamline their workflow. We are seeing rapid technological developments in CR and DR systems, resulting in better images — 3D mammography or breast tomosynthesis is a prime example. By the end of our forecasting period, the number of digital and CR machines will exceed that of film-based machines.
NanoMarkets sees the medical X-ray detection sector as a $7 billion market today, rising slowly but surely to $8 billion in 2018 and $8.8 billion by 2022.
The market for nuclear medicine is expanding in all related components including materials and devices. Factors supporting growth include:
  • Better diagnostic and prognostic procedures e.g. to validate biopsy results
  • Demand for faster, efficient and reliable non-invasive examinations
  • Development of radionuclides for molecular imaging techniques and research activities
  • Improvements in acquiring high-resolution multidimensional nuclear images of complex organs
  • Advances in technology including hybrid imaging
  • Easy and cost effective synthetic procedures that employ cyclotrons.
However, the growth of nuclear medicine is not as simple as it was a few years back. The intersection of radiology and nuclear medicine has evolved considerably with the introduction of hybrid imaging and the evolution of molecular imaging. Economic pressures have increased competition among professional organizations. Radiology organizations enjoy a significant advantage over nuclear medicine organizations in terms of size, funding, personnel, and infrastructure. And studies are shifting towards other competing technologies such as CT, thus reducing the prospects of nuclear medicine.
Nonetheless, NanoMarkets sees better growth in this segment than in its sister sector: from roughly $10 billion in 2014 to $11.8 billion in 2018 and $13.3 billion by 2022.
About NanoMarkets:
NanoMarkets tracks and analyzes emerging markets in energy, electronics and other area created by developments in advanced materials. The firm is a recognized leader in industry analysis and forecasts of the radiation detector and materials markets.  Visit for a full listing of NanoMarkets' reports and other services.
Robert Nolan
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