The Medical Physics Market Size is valued at USD 5.16 Bn in 2023 and is predicted to reach USD 8.11 Bn by the year 2031 at an 5.9% CAGR during the forecast period for 2024-2031.
Medical physics is a field that applies physics principles and methods to healthcare, particularly in diagnosing and treating diseases. Medical physicists work at the intersection of physics, biology, and medicine, developing and implementing technologies that support medical imaging, radiation therapy, and nuclear medicine. They design, test, and optimize radiation therapy treatments for cancer patients, ensuring precise dose delivery to target tissues while minimizing exposure to surrounding healthy tissues, and monitor and calibrate equipment like linear accelerators used in cancer treatments. Medical physics also encompasses technologies such as X-ray, CT, MRI, and ultrasound imaging, where medical physicists work to improve image quality, develop safer imaging protocols, and reduce patients' radiation exposure during diagnostic procedures. Furthermore, the use of advanced medical physics solutions is facilitated by the move toward personalized therapy and minimally invasive procedures.
The growing importance of medical physicists in interdisciplinary healthcare teams, along with regulatory support for radiation safety, is driving market expansion. Continuous R&D efforts are expected to sustain innovation and growth, particularly in developing countries where healthcare infrastructure is evolving rapidly. A major driver of the medical physics industry is the rapid advancement of technology; innovations like AI-driven diagnostic tools, enhanced radiation therapy, and sophisticated imaging techniques are making medical procedures more precise and efficient.
Additionally, stricter regulations and an increasing number of business owners looking to exit the medical physics field are fueling mergers and acquisitions. These stringent regulations have led to more extensive machine inspections and higher risks for healthcare systems, creating an opportunity for medical physics companies to provide outsourcing services that ensure compliance and reduce operational costs. Many of these companies are owned by retiring baby boomers, who see selling their businesses as an attractive option. This trend has led a significant portion of medical physics service providers to consider selling their companies as they prepare for retirement.
The Medical Physics Market is segmented based on modality, service, and end user. Based on the modality, the market is divided into diagnostics and therapeutics. Based on the diagnostics, the market is divided into radiographic X-ray systems, fluoroscopic X-ray systems, dental X-ray systems, mammography systems, computed tomography, magnetic resonance imaging, ultrasound, SPECT, PET, others. Based on the therapeutics (LINAC, Brachytherapy, Others. Based on the end-use, the market is divided into hospitals, ambulatory surgical centers, and diagnostic imaging centers. Based on the service, the market is divided into accreditation assistance, physics testing, performance testing, radiation, dose monitoring, radiation safety training, treatment commissioning, safety surveys, regulatory & auditing services, and others.
Based on the modality, the market is divided into diagnostics and therapeutics. The diagnostics, segment is divided into radiographic X-ray systems, fluoroscopic X-ray systems, dental X-ray systems, mammography systems, computed tomography, magnetic resonance imaging, ultrasound, SPECT, PET, and others. Among these, the solar PV segment is expected to have the highest growth rate during the forecast period. the rising rates of chronic diseases, such as cancer, cardiovascular conditions, and neurological disorders, are increasing the demand for MRI, as it provides detailed and accurate images crucial for diagnosis and treatment planning. This is particularly significant in aging populations, which are more susceptible to these conditions. As healthcare infrastructure in emerging economies grows, the installation of advanced imaging equipment like MRI machines is becoming more common. Governments and private healthcare providers in these regions are investing in MRI to offer advanced diagnostic services, especially as awareness and demand for high-quality care increase. With growing investments in healthcare technology, hospitals, and diagnostic centers are expanding their imaging capabilities by adopting state-of-the-art MRI machines. This is further supported by favorable policies in many countries that promote technological upgrades in healthcare facilities.
Based on the service, the market is divided into accreditation assistance, physics testing, performance testing, radiation, dose monitoring, radiation safety training, treatment commissioning, safety surveys, regulatory & auditing services, and others. Among these, Regulatory bodies worldwide are strengthening safety standards and protocols for radiation use in medical facilities. This includes mandatory radiation safety training for healthcare staff, as these training programs help facilities comply with national and international regulations. This growing emphasis on compliance is leading to heightened demand for professional radiation safety training services. As demand for radiology and radiation therapy services grows, healthcare facilities face a shortage of trained personnel. This has led to an increase in training programs to upskill new recruits quickly while ensuring they adhere to radiation safety standards, thus driving the growth of the radiation safety training segment. These modern approaches to training enable healthcare facilities to train larger groups and reach remote locations, further boosting the segment’s growth.
North America, especially the United States and Canada, has one of the most advanced healthcare infrastructures globally. This includes a high number of hospitals, diagnostic centers, and specialized cancer treatment facilities, all of which require medical physics services, particularly for radiation safety, dose monitoring, and performance testing. Many leading medical device companies and research institutions are based in North America, which drives continuous innovation and demand for specialized medical physics services. This includes experimental treatments, new diagnostic modalities, and personalized medicine approaches that require significant medical physics expertise. There is a strong focus on occupational safety in North American healthcare, especially concerning radiation exposure risks. This has led to increased demand for radiation safety training and monitoring services, further strengthening the market.
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Report Attribute |
Specifications |
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Market Size Value In 2023 |
USD 5.16 Bn |
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Revenue Forecast In 2031 |
USD 8.11 Bn |
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Growth Rate CAGR |
CAGR of 5.9% from 2024 to 2031 |
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Quantitative Units |
Representation of revenue in US$ Bn and CAGR from 2024 to 2031 |
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Historic Year |
2019 to 2023 |
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Forecast Year |
2024-2031 |
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Report Coverage |
The forecast of revenue, the position of the company, the competitive Market structure, growth prospects, and trends |
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Segments Covered |
By Modality, Service, and End User |
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Regional Scope |
North America; Europe; Asia Pacific; Latin America; Middle East & Africa |
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Country Scope |
U.S.; Canada; U.K.; Germany; China; India; Japan; Brazil; Mexico; France; Italy; Spain; South Korea; South East Asia |
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Competitive Landscape |
Medical Physics Services LLC, LANDAEUR, Krueger-Gilbert Health Physics Inc., GE Healthcare, Radiation Safety & Control Services Inc., Upstate Medical Physics Services, NV5 (Dade Moeller & Associates), Versant Medical Physics Services & Radiation Safety, Alliance Medical Physics Services LLC, West Physics Consulting LLC, Alyzen Medical Physics Services, Radiation Safety & Control Services Inc., Upstate Medical Physics Services, Dade Moeller & Associates, Associates in Medical Physics Services, Radiation Services Inc., Jaeger Corporation, Petrone Associates LLC, Fujifilm SonoSite, Siemens, ClariPi Inc |
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Customization Scope |
Free customization report with the procurement of the report and modifications to the regional and segment scope. Particular Geographic competitive landscape. |
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Pricing and Available Payment Methods |
Explore pricing alternatives that are customized to your particular study requirements. |
Chapter 1. Methodology and Scope
1.1. Research Methodology
1.2. Research Scope & Assumptions
Chapter 2. Executive Summary
Chapter 3. Global Medical Physics Market Snapshot
Chapter 4. Global Medical Physics Market Variables, Trends & Scope
4.1. Market Segmentation & Scope
4.2. Drivers
4.3. Challenges
4.4. Trends
4.5. Investment and Funding Analysis
4.6. Porter's Five Forces Analysis
4.7. Incremental Opportunity Analysis (US$ MN), 2024-2031
4.8. Global Medical Physics Market Penetration & Growth Prospect Mapping (US$ Mn), 2023-2031
4.9. Competitive Landscape & Market Share Analysis, By Key Player (2023)
4.10. Use/impact of AI on Medical Physics Industry Trends
Chapter 5. Medical Physics Market Segmentation 1: By Modality, Estimates & Trend Analysis
5.1. Market Share by Modality, 2023 & 2031
5.2. Market Size (Value US$ Mn) & Forecasts and Trend Analyses, 2019 to 2031 for the following Modality:
5.2.1. Diagnostics
5.2.1.1. Radiographic X-Ray Systems
5.2.1.2. Fluoroscopic X-Ray Systems
5.2.1.3. Dental X-Ray Systems
5.2.1.4. Mammography Systems
5.2.1.5. Computed Tomography
5.2.1.6. Magnetic Resonance Imaging
5.2.1.7. Ultrasound
5.2.1.8. SPECT
5.2.1.9. PET
5.2.1.10. Others
5.2.2. Therapeutics
5.2.2.1. LINAC
5.2.2.2. Brachytherapy
5.2.2.3. Others
Chapter 6. Medical Physics Market Segmentation 2: By Service, Estimates & Trend Analysis
6.1. Market Share by Service, 2023 & 2031
6.2. Market Size (Value US$ Mn) & Forecasts and Trend Analyses, 2019 to 2031 for the following Services:
6.2.1. Accreditation Assistance
6.2.2. Physics Testing
6.2.3. Performance Testing
6.2.4. Radiation Dose Monitoring
6.2.5. Radiation Safety Training
6.2.6. Treatment Commissioning
6.2.7. Safety Surveys
6.2.8. Regulatory & Auditing Services
6.2.9. Others
Chapter 7. Medical Physics Market Segmentation 3: By End user, Estimates & Trend Analysis
7.1. Market Share by End user, 2023 & 2031
7.2. Market Size (Value US$ Mn) & Forecasts and Trend Analyses, 2019 to 2031 for the following End users:
7.2.1. Hospitals
7.2.2. Ambulatory Surgical Centers
7.2.3. Diagnostic Imaging Centers
7.2.4. Others
Chapter 8. Medical Physics Market Segmentation 6: Regional Estimates & Trend Analysis
8.1. Global Medical Physics Market, Regional Snapshot 2023 & 2031
8.2. North America
8.2.1. North America Medical Physics Market Revenue (US$ Million) Estimates and Forecasts by Country, 2024-2031
8.2.1.1. US
8.2.1.2. Canada
8.2.2. North America Medical Physics Market Revenue (US$ Million) Estimates and Forecasts by Modality, 2024-2031
8.2.3. North America Medical Physics Market Revenue (US$ Million) Estimates and Forecasts by Service, 2024-2031
8.2.4. North America Medical Physics Market Revenue (US$ Million) Estimates and Forecasts by End user, 2024-2031
8.3. Europe
8.3.1. Europe Medical Physics Market Revenue (US$ Million) Estimates and Forecasts by Country, 2024-2031
8.3.1.1. Germany
8.3.1.2. U.K.
8.3.1.3. France
8.3.1.4. Italy
8.3.1.5. Spain
8.3.1.6. Rest of Europe
8.3.2. Europe Medical Physics Market Revenue (US$ Million) Estimates and Forecasts by Modality, 2024-2031
8.3.3. Europe Medical Physics Market Revenue (US$ Million) Estimates and Forecasts by Service, 2024-2031
8.3.4. Europe Medical Physics Market Revenue (US$ Million) Estimates and Forecasts by End user, 2024-2031
8.4. Asia Pacific
8.4.1. Asia Pacific Medical Physics Market Revenue (US$ Million) Estimates and Forecasts by Country, 2024-2031
8.4.1.1. India
8.4.1.2. China
8.4.1.3. Japan
8.4.1.4. Australia
8.4.1.5. South Korea
8.4.1.6. Hong Kong
8.4.1.7. Southeast Asia
8.4.1.8. Rest of Asia Pacific
8.4.2. Asia Pacific Medical Physics Market Revenue (US$ Million) Estimates and Forecasts by Modality, 2024-2031
8.4.3. Asia Pacific Medical Physics Market Revenue (US$ Million) Estimates and Forecasts by Service, 2024-2031
8.4.4. Asia Pacific Medical Physics Market Revenue (US$ Million) Estimates and Forecasts By End user, 2024-2031
8.5. Latin America
8.5.1. Latin America Medical Physics Market Revenue (US$ Million) Estimates and Forecasts by Country, 2024-2031
8.5.1.1. Brazil
8.5.1.2. Mexico
8.5.1.3. Rest of Latin America
8.5.2. Latin America Medical Physics Market Revenue (US$ Million) Estimates and Forecasts by Modality, 2024-2031
8.5.3. Latin America Medical Physics Market Revenue (US$ Million) Estimates and Forecasts by Service, 2024-2031
8.5.4. Latin America Medical Physics Market Revenue (US$ Million) Estimates and Forecasts by End user, 2024-2031
8.6. Middle East & Africa
8.6.1. Middle East & Africa Medical Physics Market Revenue (US$ Million) Estimates and Forecasts by country, 2024-2031
8.6.1.1. GCC Countries
8.6.1.2. Israel
8.6.1.3. South Africa
8.6.1.4. Rest of Middle East and Africa
8.6.2. Middle East & Africa Medical Physics Market Revenue (US$ Million) Estimates and Forecasts by Modality, 2024-2031
8.6.3. Middle East & Africa Medical Physics Market Revenue (US$ Million) Estimates and Forecasts by Service, 2024-2031
8.6.4. Middle East & Africa Medical Physics Market Revenue (US$ Million) Estimates and Forecasts by End user, 2024-2031
Chapter 9. Competitive Landscape
9.1. Major Mergers and Acquisitions/Strategic Alliances
9.2. Company Profiles
9.2.1. Medical Physics Services LLC
9.2.1.1. Business Overview
9.2.1.2. Key Product/Service Offerings
9.2.1.3. Financial Performance
9.2.1.4. Geographical Presence
9.2.1.5. Recent Developments with Business Strategy
9.2.2. LANDAEUR
9.2.3. Krueger-Gilbert Health Physics Inc.
9.2.4. GE Healthcare
9.2.5. Radiation Safety & Control Services Inc.
9.2.6. Upstate Medical Physics Services
9.2.7. NV5 (Dade Moeller & Associates)
9.2.8. Versant Medical Physics Services & Radiation Safety
9.2.9. Alliance Medical Physics Services LLC
9.2.10. West Physics Consulting LLC
9.2.11. Alyzen Medical Physics Services
9.2.12. Radiation Safety & Control Services Inc.
9.2.13. Upstate Medical Physics Services
9.2.14. Dade Moeller & Associates
9.2.15. West Physics Consulting LLC
9.2.16. Associates in Medical Physics Services
9.2.17. Radiation Services Inc.
9.2.18. Jaeger Corporation
9.2.19. Petrone Associates LLC
9.2.20. Versant Medical Physics Services & Radiation Safety
9.2.21. Fujifilm SonoSite
9.2.22. Siemens
9.2.23. ClariPi Inc
9.2.24. Other Prominent Players
Global Medical Physics Market- By Modality
Global Medical Physics Market- By Service
Global Medical Physics Market – By End User
Global Medical Physics Market – By Region
North America-
Europe-
Asia-Pacific-
Latin America-
Middle East & Africa-
InsightAce Analytic follows a standard and comprehensive market research methodology focused on offering the most accurate and precise market insights. The methods followed for all our market research studies include three significant steps – primary research, secondary research, and data modeling and analysis - to derive the current market size and forecast it over the forecast period. In this study, these three steps were used iteratively to generate valid data points (minimum deviation), which were cross-validated through multiple approaches mentioned below in the data modeling section.
Through secondary research methods, information on the market under study, its peer, and the parent market was collected. This information was then entered into data models. The resulted data points and insights were then validated by primary participants.
Based on additional insights from these primary participants, more directional efforts were put into doing secondary research and optimize data models. This process was repeated till all data models used in the study produced similar results (with minimum deviation). This way, this iterative process was able to generate the most accurate market numbers and qualitative insights.
Secondary research
The secondary research sources that are typically mentioned to include, but are not limited to:
The paid sources for secondary research like Factiva, OneSource, Hoovers, and Statista
Primary Research:
Primary research involves telephonic interviews, e-mail interactions, as well as face-to-face interviews for each market, category, segment, and subsegment across geographies
The contributors who typically take part in such a course include, but are not limited to:
Data Modeling and Analysis:
In the iterative process (mentioned above), data models received inputs from primary as well as secondary sources. But analysts working on these models were the key. They used their extensive knowledge and experience about industry and topic to make changes and fine-tuning these models as per the product/service under study.
The standard data models used while studying this market were the top-down and bottom-up approaches and the company shares analysis model. However, other methods were also used along with these – which were specific to the industry and product/service under study.
