The Global Market for Radiation Detection, Monitoring & Safety Devices is Projected to Reach US$1.6 Billion by 2020

Growing Concern Over Radiation Exposure Fuels Demand for Radiation Detection, Monitoring & Safety Devices, According to a New Report by Global Industry Analysts, Inc.

GIA launches comprehensive analysis of industry segments, trends, growth drivers, market share, size and demand forecasts on the global Radiation Detection, Monitoring & Safety market. The global market for Radiation Detection, Monitoring & Safety devices is projected to reach US$1.6 billion by 2020, driven by the growing need to detect and monitor human and environmental exposure to radiation from natural and manmade sources.

Radiation detection, monitoring and safety is the science of protecting humans and the environment from potentially harmful effects of ionizing radiation, including particulate and electromagnetic radiations. While radiation offers several advantages specifically in areas such as medical imaging, nuclear power generation, and food irradiation, there are also numerous drawbacks, since ionizing radiation can cause maximum damage to human health and the environment in the event of prolonged exposure. The need to track, monitor and alleviate risk of radiation exposure on human health and the environment is driving growth in the market for radiation detection, monitoring and safety devices.

A variety of radiation detection, monitoring and safety devices are currently available, including gas-filled detectors, monitoring systems, scintillators, and semiconductor-based detectors. Personal dosimeters and gas-filled detectors make up for a major share of the overall market for radiation detection, monitoring and safety devices. The development of a wide range of radiation detection devices with the ability to rapidly detect radiation, reduce instances of false alarms and with advanced software support for enabling highly precise detection and data tracking will foster growth in the market. Technology advancements in radiation protection are also paving way for the development of smaller, portable and relatively low-cost radiation detection devices. Although an established technology, radiation detection continues to evolve with rapidly changing needs of various end-use markets. Healthcare represents the largest end-use sector, with demand influenced by factors such as aging population, increasing incidence of chronic illnesses such as cancer, and subsequent growth in medical imaging along with rising volumes of radiation-based diagnostic and therapeutic devices. In addition to healthcare, other end-use sectors presenting growth opportunities include food, mining, nuclear power, pharmaceutical, domestic security and military/defense.

As stated by the new market research report on Radiation Detection, Monitoring & Safety, the United States represents the largest market worldwide. Driven by technological advancements, favorable regulatory framework and funding support from government agencies, the country is expected to maintain its dominant position in the coming years. Growing threat of nuclear attacks and increased spending on internal security are stimulating demand in homeland security and defense markets. Asia-Pacific is poised to record the fastest CAGR of 8.9% over the analysis period, driven by the rapid growth of nuclear power generation in countries such as China, India and South Korea.

Major players covered in the report include Ametek Inc., Arktis Radiation Detectors Ltd., ATOMTEX, CANBERRA Industries Inc., Centronic Ltd, Compagnie de Saint-Gobain, Fluke Biomedical, Fuji Electric Co. Ltd., GE Measurement & Control, LANDAUER Inc., LND Incorporated, Ludlum Measurements Inc., Mirion Technologies Inc., Panasonic Corporation of North America, Radiation Monitoring Devices Inc., RAE Systems Inc., Redlen Technologies Inc., SE International Inc., Smiths Detection Groups Ltd., Thermo Fisher Scientific Inc., Ultra Electronics – Nuclear Control Systems, among others.

The research report titled “Radiation Detection, Monitoring & Safety: A Global Strategic Business Report” announced by Global Industry Analysts Inc., provides a comprehensive review of market trends, issues, drivers, mergers, acquisitions and other strategic industry activities of global companies.  The report provides market estimates and projections in US$ Thousands for all major geographic markets such as the US, Canada, Japan, Europe (France, Germany, Italy, UK, Spain, Russia and Rest of Europe), Asia-Pacific (China, India and Rest of Asia-Pacific), Middle East & Africa, and Latin America (Brazil and Rest of Latin America). End-use sectors analyzed include Healthcare, Manufacturing, Nuclear Power, and Others.

Global Industry Analysts, Inc. 6150 Hellyer Ave., San Jose CA 95138, USA, All Rights Reserved.