The Global Market for Radiation Detection, Monitoring and Safety is Projected to Reach US$1.9 Billion by 2022

Expanding Use of Radiation in Medicine, Energy Generation, Food Irradiation etc. and the Parallel Rise in Risk of Radiation Leakage and Exposure to Drive the Radiation Detection, Monitoring and Safety Market, According to a New Report by Global Industry Analysts, Inc.

GIA launches comprehensive analysis of industry segments, trends, growth drivers, market size, share and demand forecasts on the global Radiation Detection, Monitoring and Safety market. The global market for Radiation Detection, Monitoring and Safety is projected to reach US$1.9 billion by 2022, driven by the growing use of radiation in medicine in the form of radiation oncology; energy generation in the form of nuclear power; food production in the form of food irradiation; industrial imaging and testing in the form of radiography, and the ensuing rise in risk of radiation leakage and exposure.  

Radiation is a constituent of daily lives of human, as they are emitted from natural as well as man-made sources. Radiation finds use in a wide range of applications, including medical imaging and nuclear power generation. However, the negative effects are more profound as they can have a devastating impact on life on earth, including humans and the environment. As potential risks of radiation leakages and exposure increases due to human actions, the need and demand for a wide range of radiation detection and monitoring equipment also increases. Popularity of nuclear medicine and radiation therapy, growing mining activities, rising nuclear energy production, growing use in defense, increasing pollution and other factors have elevated the importance of radiation detecting instruments over the years. A wide variety of radiation detection, monitoring and safety devices are currently used for the purpose, including gas-filled detectors, monitoring systems, scintillators and semiconductor-based detectors among others. Personal dosimeters and gas-filled detectors represent the most commonly used radiation detection and monitoring instruments, worldwide.

Although an established technology, radiation detection continues to evolve with rapidly changing needs of various end-use markets. The market for these instruments is being shaped by factors such as portability, affordability and durability, and technological advancements in related materials, sensors and software. Technological developments are enabling addressing several issues that once plagued the radiation detection instruments market. Smaller, portable and relatively low-cost radiation detection devices, which improved convenience, offer extended period of detection and increased area of detection are driving adoption. Research efforts over the years resulted in developing more efficient instruments that simplified detection and improved convenience for users working in tough conditions. Newer radiation detection materials are seeing the light of the day, including solid-state detectors such as cadmium zinc telluride (CZT) and CLYC in Personal Radiation Detectors (PRDs). Improving sensor capabilities and software performance, reducing false alarms and higher detection sensitivity are some of the factors expected to further drive demand in the years to come.

As stated by the new market research report on Radiation Detection, Monitoring and Safety, the United States represents the largest market worldwide, supported by high risk of nuclear terrorism, technology advancements and favorable regulatory landscape. Asia-Pacific ranks as the fastest growing market worldwide with a CAGR of 8.7% through the analysis period, led by factors such as growing nuclear energy production and construction of new nuclear reactors to address energy shortage and security issues; increasing use in military applications against the backdrop of strong military spending; rising incidence of cancer and the use of radiation therapy as standard care procedure; and implementation of stringent regulations for radiation control for health and safety; and mandatory conformance to radiation protection regulations by organizations utilizing radiation technologies.    

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

The research report titled “Radiation Detection, Monitoring and 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 for Radiation Detection, Monitoring and Safety in value terms for all major geographic markets such as United States, Japan, Canada, 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.

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