The Global "Radiation
Detection, Monitoring and Safety Market" Industry research report covers the industry overview with
Marketplace Size, Share, Development, futuristic cost, earnings, demand, and
distribution data. Its vast repository offers an analytical summary of the
marketplace that can help to the new and existing player to take a significant
decision.
The Global
radiation detection, monitoring and safety market is expected to value at USD
1.6 billion by 2024. The market is subject to witness a substantial growth due
to the growing adoption of nuclear medicine and radiation therapy. Rising
demand for nuclear medicine and radiation therapy is attributed to growing
incidences of cancer-related diseases.
Increasing
healthcare expenditure and recent enhancements in the existing medical
infrastructure, particularly in the North America region are expected to fuel
market demand for radiation detection, monitoring and safety services in the
upcoming years. Globally, the radiation detection, monitoring & safety
industry is predicted to grow at CAGR of 7.3% in the forecast period, providing
numerous opportunities for market players to invest for research and
development in the market.
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The rising
occurrence of cancer-related diseases and growing awareness among general
population are major contributing factors for robust market growth in the last
few years. Rising influence of commercialization and digitalization in
healthcare sector are driving demand of the radiation detection, monitoring and
safety services, in the recent years. Furthermore, recent technological
advancement and increasing adoption of digital services in healthcare sector is
leading increasing commercialization of next generation diagnostic is expected
to fuel market demand for radiation detection, monitoring and safety services
over the forecast period.
Soaring demand
for advanced analytical techniques for treatment of cancer is predicted to
favor market growth in the upcoming years. In addition, surging need for fewer
intrusive surgeries and introduction of disposable instruments is projected to
foster the growth of radiation detection, monitoring & safety market over
the forecast period. The recent technological advancement coupled with
development of the novel products & techniques such as genetic therapy are
expected to provide platform for the sustained market growth of radiation
detection, monitoring & safety in the upcoming years.
The radiation
detection, monitoring and safety industry is broadly categorized into three major
segments based on the product type in radiation detection segment such as
gas-filled detectors, scintillators and solid-state detectors. The gas-filled
detectors is considered as one of the fastest growing segment in the radiation
detection, monitoring and safety market with substantial revenue generation in
the last few years.
The radiation
detection, monitoring & safety industry is divided by region as North
America, Europe, Asia-Pacific, Latin America and Africa. North America has
shown major growth in recent years owing to the rise in the implementation of
latest technologies in healthcare sector, increase in the number of research
& development activities in the region and existence of well-established
medicinal infrastructure.
Asia-Pacific
region is predicted to hold major market share in the radiation detection,
monitoring & safety market with massive growth in forecast period.
Countries such as India, China and Singapore are leading the Asia-Pacific
market with strong economic growth, rising healthcare infrastructure,
increasing per capita income, growing prevalence of cancer related diseases,
ever-growing population base, and significant investment by leading industry
players considering potential growth opportunities in the region.
The key players
in the radiation detection, monitoring and safety industry are Landauer Inc.,
Mirion Technologies, Inc., Ludlum Measurements, Inc., Thermo Fisher Scientific
Co., Radiation Detection Company, Inc., Canberra Industries, Inc., Arrow-Tech,
Inc., Centronic Ltd., AmRay Medical Co., Atomtexs.P.e, and RAE Systems, Inc.
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