Know Growth Dynamics of Radiation Detection, Monitoring and Safety Market 2020-2023| Key Players: Thermo Fisher Scientific, Radiation Detection Company, Centronic Limited, Bar-Ray Products, Unfors RaySafe AB, Amray Medical

The Radiation Detection, Monitoring and Safety Market (2020-2023) research report gives an expert and top to bottom analysis on the current state focuses on the major players and restraints for the key players. Global Radiation Detection, Monitoring and Safety Industry report additionally gives granular analysis of the market size, share, segmentation, revenue forecasts and geographic regions of the market. This report categorizes the market based on market overview, regions, analysis by types and applications, market dynamics and manufacturers profiles.

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The global radiation detection, monitoring, and safety market was valued at USD 1.434 billion in 2019, and is expected to reach USD 2.091 billion by 2023, registering a CAGR of 6.42%, over the forecast period of 2018-2023. The scope of the report is limited to solutions offered by various players, including providers of detectors, monitoring, and safety equipment.

Top Manufacturers Listed in the Radiation Detection, Monitoring and Safety Market Report are:
o Thermo Fisher Scientific Inc.
o Radiation Detection Company Inc.
o Centronic Ltd.
o Bar-Ray Products Inc.
o Unfors RaySafe AB
o AmRay Radiation Protection
o Mirion Technologies Inc.
o Landauer Inc.

Detailed Overview about Radiation Detection, Monitoring and Safety Market:
The increased use of radioactive materials in areas, such as power production, industrial processing, medical research, processing, and the security sector, coupled with the increased threat of terrorism, has intensified the need for equipment offering protection against radioactive radiations. In addition, the amplified stability of manufacturing industries is likely to augment the growth of the market during the forecast period. The usage of radiography testing in the manufacturing industry to test the quality of manufactured goods and inspect flaws, is also likely to fuel the growth of the market. Moreover, increasing incidences of cancer are leading to high awareness related to the harmful effect of radiations and the environmental protection agencies are initiating rules and regulations, by enforcing limitations on radiation levels. Thus, favorable regulatory framework, technologically advanced equipment, and rising investments in nuclear weapons are fostering the growth of radiation monitoring market.

However, the deficit of raw materials for production and lack of skilled professionals are hindering the growth of the market.

Use of Drones for Radiation Monitoring Advancing the Market

Drones have an advantage, in terms of reaching places where people are not permitted. Flycam UAV, a famous drone maker, partnered with US Nuclear Corp., and placed a sensor on a drone, to detect radiation in a site. These drones can be used to detect radiation leaks in nuclear power plants, enter places that are on fire, and send data to first responders about the kinds of hazards prevalent. Moreover, drones are increasingly being used in defence and homeland security sector, because of the threat of terrorist attacks. The military & defense industries of several countries have raised their budgets, to safeguard their nation.

In addition, they are being used in public gatherings and meetings or seaports, to monitor the event and detect possible radiological bombs or any other radiation material. In March 2016, a Spanish firm Escuadrone developed a mini-aircraft equipped with probes, which can detect alpha, beta, and gamma emissions. The drone is said to have a fly-time of 90 minutes, enough time to detect radiations and report them. With the advent of such technological innovations, radiation testing has gained a competitive edge, thus supporting the growth of the market.

Medical Segment accounted for the Maximum Share

The medical and healthcare industry accounted for the highest share, owing to increasing use of dosimeters and detectors in radiology, emergency care, dentistry, nuclear medicine, and therapy applications. These are particularly required in medical procedures, such as angiography, fluoroscopy, computed tomography (CT), and radiographic imaging, which employ harmful ionizing radioactive rays to perform clinical diagnosis and monitoring. Besides, a rise in the number of nuclear power facilities across the world is resulting in an increased demand for radiation monitoring equipment. The by-products of these power plants can be used in the healthcare industry. Incidentally, hospitals have been promoting installation of diagnostic radiology equipment, accompanied using medical isotopes that are administered to patients.

Moreover, increasing investments in cancer therapy by the countries where the number of diagnosed patients is growing, is further expected to increase the demand for radiation therapy and medical devices.

North America Led the Market by Accounting for the Largest Share

North America accounted for the largest market share in 2019, followed by Europe, with the United States emerging as the major contributor. According to a report by National Cancer Institute, over 1.6 million people were diagnosed with cancer in the United States, out of which, almost 0.6 million succumbed to the disease. National expenditure for cancer care in the United States totaled to nearly USD 125 billion in 2010, and is expected to reach USD 156 billion by 2020, further increasing the demand for radiation safety products in the country.

In Canada, the government is focusing on providing healthcare services remotely and reaching isolated communities, which is an ongoing challenge for most of the territories. Territorial Health Investment Fund, which was renewed as part of the budget in 2019, to USD 108 million over four years, is expected to transform the Canadian healthcare industry. Owing to these factors, North America dominated the market in 2019.

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Moreover, development policies and plans are discussed as well as manufacturing processes and cost structures. This report also states Radiation Detection, Monitoring and Safety market trend, import/export, supply and consumption figures as well as cost, price, revenue and gross margin by regions, and other regions can be added. Radiation Detection, Monitoring and Safety market forecast For the period of 2020-2023, this study provides the Radiation Detection, Monitoring and Safety sales, revenue and market share for each player covered in this report.

Reasons to Purchase the Radiation Detection, Monitoring and Safety Market Report:

- The report analyses how the shift towards safety will drive the global Radiation Detection, Monitoring and Safety market.
- Analyzing various perspectives of the market with the help of Porter's five forces analysis.
- Study on the product type that is expected to dominate the market.
- Study on the regions that are expected to witness fastest Radiation Detection, Monitoring and Safety Market growth during the forecast period.
- Identify the latest developments,Radiation Detection, Monitoring and Safety market shares and strategies employed by the major market players.
- Analyzing what will be the Radiation Detection, Monitoring and Safety Market size.

Major Points from Table of Contents:
1. Introduction
1.1 Scope of the Study
1.2 Executive Summary
2. Research Approach and Methodology
2.1 Key Deliverables of the Study
2.2 Study Assumptions
2.3 Analysis Methodology
2.4 Research Phases
3. Market Insights
3.1 Market Overview
3.2 Industry Attractiveness - Porter's Five Forces Analysis
3.2.1 Bargaining Power of Suppliers
3.2.2 Bargaining Power of Consumers
3.2.3 Threat of New Entrants
3.2.4 Threat of Substitute Products or Services
3.2.5 Competitive Rivalry among Existing Competitors
3.3 Industry Value Chain Analysis
4. Market Dynamics
4.1 Market Drivers
4.1.1 Increasing Incidence of Cancer and Other Chronic Diseases
4.1.2 Use of Drones for Radiation Monitoring
4.2 Market Restraints
4.2.1 Stringent Government Regulations
4.2.2 Lack of Skilled Radiation Professionals
5. Global Radiation Detection, Monitoring, and Safety Market Segmentation
5.1 By Product Type
5.1.1 Detection and Monitoring
5.1.2 Safety
5.2 By End-user Industry
5.2.1 Medical & Healthcare
5.2.2 Industrial
5.2.3 Homeland Security & Defence
5.2.4 Nuclear Power Plants
5.2.5 Other End-user Industries
5.3 By Region
5.3.1 North America
5.3.2 Europe
5.3.3 Asia-Pacific
5.3.4 Rest of the World
6. Competitive Intelligence - Company Profiles
6.1 Thermo Fisher Scientific Inc.
6.2 Radiation Detection Company Inc.
6.3 Centronic Ltd
6.4 Bar-Ray Products Inc.
6.5 Unfors RaySafe AB
6.6 AmRay Radiation Protection
6.7 Mirion Technologies Inc.
6.8 Landauer Inc.
7. Investment Analysis
8. Outlook of the Global Radiation Detection, Monitoring, and Safety Market

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