The global Radiation Detection, Monitoring And Safety market size is expected to be worth around US$ 11.6 billion by 2030, according to a new report by Vision Research Reports.
The global Radiation Detection, Monitoring And Safety market size was valued at US$ 990.2 million in 2020 and is anticipated to grow at a CAGR of 17.3% during forecast period 2021 to 2030.
Growth Factors
Dosimeters that furnish radioactivity measurements serve as effective tools to maintain prescribed levels, laid down by international authorities. As a consequence, a high demand for these measuring instruments is anticipated and consequentially, the radiation detection, monitoring, and safety market is set to witness profitable growth.
Furthermore, increasing adoption of radioactive material in manufacturing industries combined with the rising awareness of radiation safety is anticipated to provide this market with lucrative growth opportunities in near future.
Increasing adoption of protective gear is a major growth booster for safety devices market, thereby propelling growth of overall industry. the protective gear considered in the segment hand and face protection comprised of eyewear, face masks, gloves, and attenuating sleeves. The need for safety wear arises due to the deleterious effects associated with exposure to ionizing rays, which at best, include burns and at worst, cause cancer as a result of genomic damage. The full body protection devices are more used owing to effective coverage of the entire body, shielding work personnel from long-term radioactive emission exposure and the high-cost attached to these protective garments.
Report Highlights
Gas-filled detectors held the largest market share in 2020, owing to rising applications in Geiger-Muller counters, ionization chambers, radiation survey meters, and proportional counters. In addition, to the user-friendly nature of these detectors such as portable, durable as well as economical are the factors further augmenting the demand.
Moreover, the Geiger-Muller counters held the largest share in gas-filled detectors as a result of the high usage rate in nuclear power plant and manufacturing industries. Furthermore, the variety of alpha, beta, and gamma in Geiger tubes and probes are expected to boost market growth over the forecast period.
Personal dosimeters held the largest share of over 60.0% of the product segment in 2020. This growth is attributed to the wide-ranging applications of the dosimeters in nuclear power plants, radiation dose measurements in medical and industrial processes. In addition, the availability of advanced instruments, such as, automated reader instrument, electronic radiation measuring instrument, alarm badges, thermoluminescent dosimeters (TLD), and handheld and portable devices are propelling the growth of this sector over the forecast period.
Moreover, this segment is anticipated to register high growth due to the increasing threat of nuclear attacks and technological advancements, such as, optically stimulated luminescence (OSL), that provide higher accuracy for measurement of low levels of radioactivity. Moreover, the personal dosimeter segment is anticipated to register high growth as a consequence of the increase in the threat of nuclear attacks. The overall increase in the product uptake witnessed as a result of the expansion of the current product portfolio in the companies is expected to push forward the growth of the product segment.
Full-body protection held the largest share in 2020, owing to its extensive applications in the form of aprons, barriers & shields. In addition, the advancement in the instrument such as hygroscopic aprons, radiation protection, and apron storage, neutron shielding, leaded glass, ceiling, and floor shielding are the factors further augmenting the growth in coming years.
Moreover, the associated high prices in lead barriers such as mobile lead barrier costs from USD 5,260 to USD 7,820 thereby, are expected to boost the radiation detection, monitoring, and safety market growth over the forecast period. However, face & hand protection of the safety type segment is anticipated to grow at a lucrative CAGR, due to the need for safety in radioactive emission & usage.
Hospitals held the largest share in 2020, mainly due to the increasing adoption rate of the dosimeters and detectors in radiology, emergency care, dentistry, nuclear medicine, and therapy purposes. Moreover, enhanced meters are utilized to ensure that patients, as well as the medical personnel, are exposed to radioactive emission at optimal levels, within the permissible limits prescribed by the respective authorities.
These are particularly required in medical procedures, such as angiography, fluoroscopy, computed tomography (CT), and radiographic imaging that employ the more harmful ionizing radioactive rays to perform clinical diagnosis and monitoring. The rise in these interventional applications is expected to stimulate the growth of this sector over the forecast period.
North America held the largest share of the overall market in 2020 at over 45.0%. This can be attributed to the presence of a favorable regulatory framework, and technological advancement over this region. For example, Naturally Occurring Radioactive Material (NORM) and Natural Radiation Management in North America ensure the regulatory framework for safety
Key Players
Landauer Inc., Mirion Technologies, Inc., Ludlum Measurements, Inc., Thermo Fisher Scientific, Radiation Detection Company, Inc., Canberra Industries, Inc., Arrow-Tech, Inc., Centronic Limited, AmRay Medical, Atomtex SPE, and RAE Systems.
Market Segmentation
Product Outlook
Personal dosimeters
Area process monitors
Environmental radiation & surface contamination monitors
Radioactive material monitors
Detection Type Outlook
Gas-filled detectors
Scintillators
Solid-state detectors
Safety Type Outlook
Full - body protection
Face & hand protection
Others
End-Use Outlook
Hospitals
Non - Hospitals
Regional Outlook
North America
U.S
Canada
Europe
Germany
UK
Asia Pacific
Japan
China
India
Latin America
Brazil
Mexico
The Middle East and Africa
South Africa
The Radiation Detection, Monitoring And Safety market research report covers definition, classification, product classification, product application, development trend, product technology, competitive landscape, industrial chain structure, industry overview, national policy and planning analysis of the industry, the latest dynamic analysis, etc., and also includes major. The study includes drivers and restraints of the global market. It covers the impact of these drivers and restraints on the demand during the forecast period. The report also highlights opportunities in the market at the global level.
The report provides size (in terms of volume and value) of Radiation Detection, Monitoring And Safety market for the base year 2020 and the forecast between 2021 and 2030. Market numbers have been estimated based on form and application. Market size and forecast for each application segment have been provided for the global and regional market.
This report focuses on the global Radiation Detection, Monitoring And Safety market status, future forecast, growth opportunity, key market and key players. The study objectives are to present the Radiation Detection, Monitoring And Safety market development in United States, Europe and China.
It is pertinent to consider that in a volatile global economy, we haven’t just conducted Radiation Detection, Monitoring And Safety market forecasts in terms of CAGR, but also studied the market based on key parameters, including Year-on-Year (Y-o-Y) growth, to comprehend the certainty of the market and to find and present the lucrative opportunities in market.
In terms of production side, this report researches the Radiation Detection, Monitoring And Safety capacity, production, value, ex-factory price, growth rate, market share for major manufacturers, regions (or countries) and type.
In terms of consumption side, this report focuses on the consumption of Radiation Detection, Monitoring And Safety by regions (countries) and application.
Buyers of the report will have access to verified market figures, including global market size in terms of revenue and volume. As part of production analysis, the authors of the report have provided reliable estimations and calculations for global revenue and volume by Type segment of the global Radiation Detection, Monitoring And Safety market. These figures have been provided in terms of both revenue and volume for the period 2017 to 2030. Additionally, the report provides accurate figures for production by region in terms of revenue as well as volume for the same period. The report also includes production capacity statistics for the same period.
With regard to production bases and technologies, the research in this report covers the production time, base distribution, technical parameters, research and development trends, technology sources, and sources of raw materials of major Radiation Detection, Monitoring And Safety market companies.
Regarding the analysis of the industry chain, the research of this report covers the raw materials and equipment of Radiation Detection, Monitoring And Safety market upstream, downstream customers, marketing channels, industry development trends and investment strategy recommendations. The more specific analysis also includes the main application areas of market and consumption, major regions and Consumption, major Chinese producers, distributors, raw material suppliers, equipment providers and their contact information, industry chain relationship analysis.
The research in this report also includes product parameters, production process, cost structure, and data information classified by region, technology and application. Finally, the paper model new project SWOT analysis and investment feasibility study of the case model.
Overall, this is an in-depth research report specifically for the Radiation Detection, Monitoring And Safety industry. The research center uses an objective and fair way to conduct an in-depth analysis of the development trend of the industry, providing support and evidence for customer competition analysis, development planning, and investment decision-making. In the course of operation, the project has received support and assistance from technicians and marketing personnel in various links of the industry chain.
The Radiation Detection, Monitoring And Safety market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to Radiation Detection, Monitoring And Safety market.
Prominent players in the market are predicted to face tough competition from the new entrants. However, some of the key players are targeting to acquire the startup companies in order to maintain their dominance in the global market. For a detailed analysis of key companies, their strengths, weaknesses, threats, and opportunities are measured in the report by using industry-standard tools such as the SWOT analysis. Regional coverage of key companies is covered in the report to measure their dominance. Key manufacturers of Radiation Detection, Monitoring And Safety market are focusing on introducing new products to meet the needs of the patrons. The feasibility of new products is also measured by using industry-standard tools.
Key companies are increasing their investments in research and development activities for the discovery of new products. There has also been a rise in the government funding for the introduction of new Radiation Detection, Monitoring And Safety market. These factors have benefited the growth of the global market for Radiation Detection, Monitoring And Safety. Going forward, key companies are predicted to benefit from the new product launches and the adoption of technological advancements. Technical advancements have benefited many industries and the global industry is not an exception.
New product launches and the expansion of already existing business are predicted to benefit the key players in maintaining their dominance in the global market for Radiation Detection, Monitoring And Safety. The global market is segmented on the basis of region, application, en-users and product type. Based on region, the market is divided into North America, Europe, Asia-Pacific, Latin America and Middle East and Africa (MEA).
In this study, the years considered to estimate the market size of Radiation Detection, Monitoring And Safety are as follows:
Reasons to Purchase this Report:
- Market segmentation analysis including qualitative and quantitative research incorporating the impact of economic and policy aspects
- Regional and country level analysis integrating the demand and supply forces that are influencing the growth of the market.
- Market value USD Million and volume Units Million data for each segment and sub-segment
- Competitive landscape involving the market share of major players, along with the new projects and strategies adopted by players in the past five years
- Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis, and strategies employed by the major market players
Research Methodology:
In-depth interviews and discussions were conducted with several key market participants and opinion leaders to compile the research report.
This research study involved the extensive usage of both primary and secondary data sources. The research process involved the study of various factors affecting the industry, including the government policy, market environment, competitive landscape, historical data, present trends in the market, technological innovation, upcoming technologies and the technical progress in related industry, and market risks, opportunities, market barriers and challenges. The following illustrative figure shows the market research methodology applied in this report.
Market Size Estimation
Top-down and bottom-up approaches are used to estimate and validate the global market size for company, regional division, product type and application (end users).
The market estimations in this report are based on the selling price (excluding any discounts provided by the manufacturer, distributor, wholesaler or traders). Market share analysis, assigned to each of the segments and regions are achieved through product utilization rate and average selling price.
Major manufacturers & their revenues, percentage splits, market shares, growth rates and breakdowns of the product markets are determined through secondary sources and verified through the primary sources.
All possible factors that influence the markets included in this research study have been accounted for, viewed in extensive detail, verified through primary research, and analyzed to get the final quantitative and qualitative data. The market size for top-level markets and sub-segments is normalized, and the effect of inflation, economic downturns, and regulatory & policy changes or others factors are accounted for in the market forecast. This data is combined and added with detailed inputs and analysis from Vision Research Reports and presented in this report.
Market Breakdown and Data Triangulation
After complete market engineering with calculations for market statistics; market size estimations; market forecasting; market breakdown; and data triangulation. Extensive primary research was conducted to gather information and verify and validate the critical numbers arrived at. In the complete market engineering process, both top-down and bottom-up approaches were extensively used, along with several data triangulation methods, to perform market estimation and market forecasting for the overall market segments and sub-segments listed in this report.
Secondary Sources
Secondary Sources occupies approximately 25% of data sources, such as press releases, annual reports, Non-Profit organizations, industry associations, governmental agencies and customs data, and so on. This research study includes secondary sources; directories; databases such as Bloomberg Business, Wind Info, Hoovers, Factiva (Dow Jones & Company), TRADING ECONOMICS, and avention; Investing News Network; statista; Federal Reserve Economic Data; annual reports; investor presentations; and SEC filings of companies.
Primary Sources
In the primary research process, various sources from both the supply and demand sides were interviewed to obtain qualitative and quantitative information for this report. The primary sources from the supply side include product manufacturers (and their competitors), opinion leaders, industry experts, research institutions, distributors, dealer and traders, as well as the raw materials suppliers and producers, etc.
The primary sources from the demand side include industry experts such as business leaders, marketing and sales directors, technology and innovation directors, supply chain executive, end users (product buyers), and related key executives from various key companies and organizations operating in the global market.
The study objectives of this report are:
To strategically profile the key players and comprehensively analyze their growth strategies.
Cross-segment Market Size and Analysis for
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