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7.57% CAGR to be recorded in Radiation Detection and Monitoring Equipment Market from 2022 to 2027- Technavio

NEW YORK, Feb. 19, 2024 /PRNewswire/ — The potential growth difference for the radiation detection and monitoring equipment market between 2022 and 2027 is USD 1.66 billion. Get deeper insights into the market size, current market scenario, future growth opportunities, major growth driving factors, the latest trends, and much more. Buy the full report here

Report Coverage

Details

Page number

170

Base year

2022

Historic period

2017-2021

Forecast period

2023-2027

Growth momentum & CAGR

Accelerate at a CAGR of 7.57%

Market growth 2023-2027

USD 1,661.03 million

Market structure

Fragmented

YoY growth 2022-2023(%)

6.12

Regional analysis

North America, Europe, APAC, Middle East and Africa, and South America

Performing market contribution

APAC at 33%

Key countries

US, China, Japan, Germany, and France

The demand from healthcare facilities is a key factor driving market growth.  As a result of the increased use of radiation-based equipment to diagnose and treat some health problems, there has been an increase in demand for radiation-detecting and monitoring instruments at healthcare facilities. Moreover, initiatives have been taken by organizations such as the International Atomic Energy Agency to ensure that patients treated with radiation beams receive the correct dose.

  • The high cost of equipment is a significant challenge restricting market growth. Learn about additional key drivers, trends, and challenges available with Technavio. Read a Free Sample PDF Report Now

The segmentation is by product (dosimeters, survey meters, area monitors, and others ), type (detection, monitoring, and safety ), and geography (North America, Europe, APAC, Middle East and Africa, and South America). 

  • The growth by the dosimeters segment will be significant during the forecast period. These equipment are often used in an environment of occupational radiation within the Nuclear Industry. Increasingly, dosimeters are needed for independent verification of the quantities of doses administered during radiation therapy with a view to improving patient security and quality of care due to an increase in demand from different end users.
  • APAC is estimated to contribute 33% to the growth during the forecast period. View the Free Sample Report for insights into the contribution of all the segments and regional opportunities in the report.

Key Companies:

AMETEK Inc., Arktis Radiation Detectors Ltd., ATOMTEX SPE, Berkeley Nucleonics Corp., CNIM SA, Cobham Ltd., Dynasil Corp. of America, ECOTEST, Fortive Corp., Furukawa Electric Co. Ltd., Honeywell International Inc., International Medcom Inc., James Fisher and Sons Plc, LAURUS Systems, Ludlum Measurements Inc., Mirion Technologies Inc., PCE Holding GmbH, Polimaster LLC, Radiation Detection Co., and Thermo Fisher Scientific Inc.

The Radiation Detection, Monitoring, and Safety Market are witnessing significant growth driven by the escalating concerns regarding exposure to radiation and radioactive substances. With stringent regulatory requirements and evolving customer needs, the demand for radiation monitoring equipment is on the rise. This equipment plays a crucial role in monitoring radiation dose and contamination levels in various sectors such as power production, industrial processing, research, and processing, as well as the security sector. Companies are focusing on developing advanced equipment to provide effective protection against radioactive radiations. As the awareness regarding radiation hazards increases, the industry continues to expand, offering enhanced safety measures across diverse industries.

The industry plays a critical role in various sectors like power plants, hospitals, and nuclear medicine facilities. With the increasing electricity demand, hospitals rely on radiation monitoring systems during diagnostic and therapeutic procedures. These systems ensure safety and compliance with regulations. Additionally, for the secure transportation of nuclear medicine to pharmacies, advanced monitoring technology and drones are utilized. Government funding supports the development and deployment of such equipment, addressing concerns about nuclear weapons proliferation. The Federation of American Scientists monitors global nuclear activities, particularly in countries like the United States and Russia. As nuclear facilities expand worldwide, the demand for radiation detection and monitoring equipment continues to grow, emphasizing safety and security measures across industries.

Related Reports:

The cable tester market size is estimated to grow at a CAGR of 4.76% between 2023 and 2028. The size is forecast to increase by USD 154.07 million

The radio frequency (RF) signal generator market size is estimated to grow at a CAGR of 7.25% between 2023 and 2028. The size is forecast to increase by USD 677.64 million

ToC:

Executive Summary

Landscape

Sizing

Historic Sizes

Five Forces Analysis

Segmentation by Product

Segmentation by Type

Segmentation by Geography

Customer Landscape

Geographic Landscape

Drivers, Challenges, & Trends

Company Landscape

Company Analysis

Appendix

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging trends and provide actionable insights to help businesses identify opportunities and develop effective strategies to optimize their positions.

With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable insights to identify opportunities in existing and potential markets and assess their competitive positions within changing scenarios.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: [email protected]
Website: www.technavio.com

SOURCE Technavio

Originally published at https://www.prnewswire.com/news-releases/7-57-cagr-to-be-recorded-in-radiation-detection-and-monitoring-equipment-market-from-2022-to-2027–technavio-302064013.html
Images courtesy of https://pixabay.com

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