Dublin, March 07, 2023 (GLOBE NEWSWIRE) -- The "Radiation Detection, Monitoring & Safety Market by Product (Detection and Monitoring (Personal Dosimeter)), Composition (Gas-Filled Detectors, Scintillators), Application (Healthcare, Industrial Application), & Region - Global Forecasts to 2027" report has been added to ResearchAndMarkets.com's offering.
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.
Market Dynamics
Drivers
- Rising Military Expenditure for Homeland Security
- Increasing Safety Awareness Among People Working in Radiation-Prone Environments
- Increasing Number of Pet/CT Scans for Diagnosing and Treating Chronic Diseases
- Growing Usage of Nuclear Medicine and Radiation Therapy
Restraints
- Increasing Use of Alternatives for Nuclear Energy Globally
- Shift in Nuclear Energy Policies and Increased Nuclear Phase-Out
Opportunities
- Technological Advancements in Radiation Detection
- Rising Focus on Nuclear Power in Developing Countries
Challenges
- High Cost of Lead for Manufacturing Radiation Safety Products
- Shortage of Workforce and Skilled Professionals in the Nuclear Power Industry
| Report Attribute | Details |
| No. of Pages | 252 |
| Forecast Period | 2022 - 2027 |
| Estimated Market Value (USD) in 2022 | $2.5 Billion |
| Forecasted Market Value (USD) by 2027 | $3.6 Billion |
| Compound Annual Growth Rate | 7.1% |
| Regions Covered | Global |
Key Topics Covered:
1 Introduction
2 Research Methodology
3 Executive Summary
4 Premium Insights
5 Market Overview
6 Radiation Detection Monitoring Safety Market, by Product
6.1 Introduction
6.2 Radiation Detection and Monitoring Products
6.2.1 Personal Dosimeters
6.2.1.1 Passive Dosimeters
6.2.1.2 Active Dosimeters
6.2.2 Area Process Monitors
6.2.3 Environmental Radiation Monitors
6.2.4 Surface Contamination Monitors
6.2.5 Radioactive Material Monitors
6.2.6 Other Radiation Detection and Monitoring Products
6.3 Radiation Safety Products
6.3.1 Full-Body Protection Products
6.3.2 Face Protection Products
6.3.3 Hand Safety Products
6.3.4 Other Radiation Safety Products
7 Radiation Detection Monitoring Safety Market, by Composition
7.1 Introduction
7.2 Gas-Filled Detectors
7.2.1 Geiger-Muller Counters
7.2.2 Ionization Chambers
7.2.3 Proportional Counters
7.3 Scintillators
7.3.1 Inorganic Scintillators
7.3.2 Organic Scintillators
7.4 Solid-State Detectors
7.4.1 Semiconductor Detectors
7.4.2 Diamond Detectors
8 Radiation Detection Monitoring Safety Market, by Application
8.1 Introduction
8.2 Healthcare
8.3 Homeland Security & Defense
8.4 Industrial Applications
8.5 Nuclear Power Plants
8.6 Other Applications
9 Radiation Detection Monitoring Safety Market, by Region
10 Competitive Landscape
11 Company Profiles
12 Appendix
Companies Mentioned
- Alpha Spectra, Inc.
- Ametek Inc.
- Amray
- Arktis Radiation Detectors Ltd.
- Arrow-Tech, Inc.
- Atomtex
- Bar Ray Products
- Bertin Technologies
- Burlington Medical
- Centronic
- Fortive
- Fuji Electric Co. Ltd.
- Iba Worldwide
- Infab Corporation
- Lnd, Inc.
- Ludlum Measurements Inc.
- Micron Semiconductor Ltd.
- Mirion Technologies Inc.
- Nucleonix Systems
- Polimaster
- Radcomm Systems
- Radiation Detection Company
- S.E. International, Inc.
- Scionix Holland B.V.
- Simad Srl
- Thermo Fisher Scientific Inc.
- Trivitron Healthcare
- Xena Shield
For more information about this report visit https://www.researchandmarkets.com/r/pnxaa4
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