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Global Outlook for Radiation Monitoring and Safety Market by Key Trends and Analysis 2024
The radiation monitoring and safety market is experiencing significant growth currently due to increasing stability of manufacturing industries and nuclear power plants so as to prevent accidents. Moreover, rising government emphasis on the use of radiation detection instruments for ensuring homeland security and safety has significantly contributed to the growth of this market.
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The growing nuclear terrorism threat is further driving the global radiation monitoring and safety market. Also, continuous incorporation of radioactive components into consumer products, radio luminous products, nuclear medicines and fluorescent lamps is pivotal to the radiation monitoring and safety market growth particularly in manufacturing industries. High awareness related to the harmful effect of radiations has led to rising need for radiation monitoring and safety products among end-users in the market. However, the shortage of raw materials for production and manufacturing as well as lack of skills among radiation professionals in handling monitoring devices are hindering the growth of this market.
The radiation monitoring and safety market is majorly segmented on the basis of product type and end-use applications. The radiation monitoring and safety market by product type include scintillator, silicon photomultipliers, fiber optic, and others (avalanche photodiodes (APD) and PIN diodes). Based on applications, the radiation monitoring and safety market is segmented into manufacturing, healthcare, biotechnology, homeland security & defense, automotive, research and high-energy physics, nuclear power plants, and others (oil & gas and space studies).
Manufacturing sector uses various radiation devices types such as personal dosimeters, surface contamination monitors, radioactive monitors, area process monitors, as well as environment radiation monitors. The homeland security and defense industry utilizes survey meters, spectroscopic portal monitors, radiation detection monitors, alarming personal radiation detectors and mobile radiation monitors. In nuclear power plants, the popular radiation devices are full body accessories, personal dosimeters, and scintillators.
North America is anticipated to be one of the key region in the radiation monitoring and safety market due to factors such as favorable regulatory framework, technological advancements, as well as rising threat of nuclear terrorism in this region. The European market has also witnessed significant growth due to extensive usage of radiation monitoring devices in nuclear energy industries after Fukushima disaster in 2011 which raised the public safety concerns. The two major types of radiation: X-rays and gamma rays, are high-frequency ionizing radiations. These ionizing radiation when passes through a body cell, it can cause the cell to die, and sometimes can lead to cancer later on. Therefore, with the rising cancer incidence, the radiation monitoring and safety market growth would also swell worldwide.
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Some of the key players in the radiation monitoring and safety market are Fuji Electric Co. Ltd., Atomtex SPE, Arktis Radiation Detectors Ltd., GE Electric ( GE Measurement and Control), Centronic Limited, Comecer SPA, General Electric Measurement and Control, Ametek Inc., Thermo Fisher Scientific Inc, Canberra Industries Inc., Radiation Monitoring Devices Inc., Mirion Technologies Inc., RAE Systems Inc., LND Inc., Lab Impex Systems Ltd., Landauer, Inc., Redlen Technologies Inc., Smiths Detection Groups Ltd., Ludlum Measurements Inc., and SE International Inc.
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