June 10, 2019
WELLESLEY, Mass., June 10, 2019–Growing security threats and the worldwide rise in cancer cases are two factors helping to shape the radiation shielding and monitoring market, according to a report by BCC Research, “Radiation Shielding and Monitoring: Technologies and Application Markets.”
The market expects to see a compound annual growth rate (CAGR) of 4.4% through 2024, when it could be worth $72.9 billion.
“The increased use of ionization radiation in industry and medicine presents a health hazard, as it can cause microscopic damage to living tissue, resulting in skin burns and radiation sickness at high exposures,” notes report author Srinivasa Rajaram. “The advances in computed tomography, as well as the high radiation doses delivered by interventional procedures, have raised serious safety and health concerns for both patients and medical staff, requiring the establishment of a radiation protection culture in every radiology department.”
Smaller Companies Turning Toward Mergers and Acquisitions
The market is dominated by medium-sized companies, the report adds, which may eventually lose the ability to innovate. Small companies, meanwhile, have difficulty staying competitive and cost-efficient. Mergers and acquisitions present benefits for both types of players in this business, as they increase value generation, cost efficiency and market share. Recent M&A activity includes Boston Scientific’s acquisition of Millipede, BTG and SpaceOAR, and ESCO Technologies’ acquisition of Manta Test Systems.
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Radiation Shielding and Monitoring: Technologies and Application Markets( AVM188A )
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