The Asia-Pacific medical radiation detection and monitoring market is predicted to witness an upsurge over the forecast period of 2019-2027, due to an anticipated CAGR of 8.39%. The key factor driving the growth of global medical radiation detection and monitoring market is the increase in global healthcare expenditure. The rise in healthcare expenditure across the globe has led to increased adoption of nuclear medicine and radiation therapy for diagnosis and treatment.
The Asia-Pacific market is growing at a fast pace. China and Japan are presently reigning this market. The Chinese market is expanding due to the presence of independent government departments related to Nuclear medicine such as the China Society of Nuclear Medicine, and the supportive norms and regulations that directly impact the market growth. The Japanese market, on the other hand, is driven by the rising number of individuals opting for radiotherapy resulting in increasing number of radiotherapy facilities. Although the prospects look good, factors like stringent government regulations and the high cost of lead (a major component of monitoring device) are restraining the market growth.
Thermo Fisher Scientific Inc., AADCO Medical, Inc., Unfors RaySafe, Protecx Medical, Infab Corporation, Sun Nuclear Corporation, Kromek Group PLC, Mirion Technologies, Amray Medical, Bar-Ray, LANDAUER Inc., Fluke Biomedical LLC, Burlington Medical Supplies Inc., Radiation Detection Company Inc., and Protech Medical are some of the popular players in this market.