The global radiation detection, monitoring, and safety market is valued at an estimated USD 2.5 Billion in 2022 and is projected to reach USD 3.6 Billion by 2027, at a CAGR of 7.1% during the forecast period. The market is anticipated to expand due to rising military spending, a rise in cancer incidence all over the world, improved radiation safety awareness, an increase in the number of PET/CT scans, and increased usage of nuclear medicine and radiation therapy for diagnosis and treatment. However, the primary barriers to the growth of this industry are the high cost of the lead and the scarcity of qualified radiation specialist, medical physicists, and nuclear power personnel.
“The radiation detection and monitoring products segment accounted for the highest growth rate in the radiation detection, monitoring and safety market, by product, during the forecast period”
Based on product, the radiation detection, monitoring, and safety market is segmented into radiation detection and monitoring products and radiation safety products. In 2021, the radiation detection and monitoring products segment accounted for the largest share of the market. This segment shows significant growth opportunities during the forecast period. The larger share of this segment can be attributed to the continuous need of radiation detection and monitoring products applicable in various industries such as nuclear power plants, and defense industry.
“Gas-Filled Detectors segment accounted for the highest CAGR.”
Based on composition, the global radiation detection, monitoring, and safety market is segmented into gas-filled detectors, scintillators, and solid-state detectors. In 2021, the gas-filled detectors segment accounted for the largest share primarily due to appropriate costs with good performance of gas-filled detectors and their numerous applications in the radiation detection and medical imaging.
“Asia Pacific: The fastest-growing region radiation detection, monitoring and safety market ”
The global radiation detection, monitoring and safety market is segmented into North America, Europe, the Asia Pacific, and the Rest of the World. The Asia Pacific region is projected to register the highest CAGR during the forecast period.
The Asia Pacific radiation detection, monitoring and safety market is estimated to grow at the highest CAGR during the forecast period, primarily due rising awareness for radiation protection, the growing number of hospitals, the rising prevalence of cancer, the rising adoption of radiation diagnostics & therapy, increasing military expenditure, and the rising number of nuclear power plants drive market growth in this region.
The primary interviews conducted for this report can be categorized as follows:
- By Company Type: Tier 1 - 20%, Tier 2 - 45%, and Tier 3 - 35%
- By Designation: C-level - 30%, D-level - 20%, and Others - 50%
- By Region: North America - 36%, Europe - 25%, Asia Pacific - 27%, Latin America –9%, and the Middle East & Africa – 3%
Lists of Companies Profiled in the Report:
- Thermo Fisher Scientific Inc. (US)
- Mirion Technologies Inc. (US)
- Fortive (US)
- AMETEK Inc. (US)
- Fuji Electric Co. Ltd. Co., Ltd. (Japan)
- Ludlum Measurements Inc. (US)
- Arktis Radiation Detectors Ltd. (Switzerland)
- Polimaster (Belarus), Amray (Ireland)
- Infab Corporation (US)
- IBA Worldwide (Belgium)
- Bertin Technologies (France)
- RDC (US)
- Arrow-Tech Inc. Inc. (US)
- Centronic Ltd. (UK)
- S.E. International Inc. (US)
- ATOMTEX (Belarus)
- Nucleonix Systems (India)
- Alpha Spectra Inc. (US)
- LND INC. (US)
- Bar-Ray Products (US)
- Trivitron Healthcare (India)
- Micron Technology Inc. (UK)
- Scionix Holland B.V. (Netherlands)
- Radcomm Systems (Canada)
- Xena Shield (India)
- SIMAD srl (Italy)
- Burlington Medical (US)
This report provides a detailed picture of the global radiation detection, monitoring and safety market. It aims at estimating the size and future growth potential of the market across different segments, such as product, composition, application, and region. The report also includes an in-depth competitive analysis of the key market players, along with their company profiles, recent developments, and key market strategies.
Key Benefits of Buying the Report:
The report will help market leaders/new entrants by providing them with the closest approximations of the revenue numbers for the overall radiation detection, monitoring and safety market and its subsegments. It will also help stakeholders better understand the competitive landscape and gain more insights to better position their business and make suitable go-to-market strategies. This report will enable stakeholders to understand the market’s pulse and provide them with information on the key market drivers, restraints, opportunities, and challenges.