The Radiation Detection, Monitoring, & Safety Market report proposes the forecast of the market by studying the market dynamics of the previous years. The report proposes the estimated market size and the expected global revenue for the forecast period of the Medical Devices industry. It is the result of a detailed analysis on market status, demands, growth factors, market drivers, growth rate, opportunities and limitations, risks, sales data, profit margin, channels and distributors. The main motive of this Radiation Detection, Monitoring, & Safety Market report is to derive the revenue growth, market value, market share, etc., by studying the categories such as the prime market players from different geographical locations, their product types and application industries.
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The global radiation detection, monitoring, and safety market is expected to grow at a CAGR of 6.9% during the forecast period to reach USD 3.1 billion by 2026 from an estimated USD 2.2 billion in 2021.
The key factors propelling the growth of this market are growing security threats, the growing prevalence of cancer worldwide, increasing radiation safety awareness, growth in the number of PET/CT scans, and the increasing usage of nuclear medicine and radiation therapy for diagnosis and treatment.
“The radiation detection & monitoring products segment accounted for the highest growth rate in the radiation detection, monitoring, and safety market, byproduct, during the forecast period”
Based on products, the radiation detection, monitoring, and safety market is segmented into radiation detection & monitoring products and radiation safety products. In 2020, the radiation detection & monitoring products segment accounted for the highest growth rate. This can be attributed to the rising radiation safety awareness among various end users.
“Gas-filled detectors accounted for the highest CAGR”
Based on composition, the global radiation detection & monitoring products market is segmented into gas-filled detectors, scintillators, and solid-state detectors. The gas-filled detectors segment accounted for the highest CAGR. Growth in this market segment is attributed to the favorable performance-to-cost ratio of gas-filled detectors.
“Homeland security & defense accounted for the highest CAGR”
Based on application, the radiation detection, monitoring, and safety market is segmented into healthcare, homeland security & defense, nuclear power plants, industrial applications, and other applications (academic research & environmental monitoring). The homeland security & defense segment is expected to grow at the highest CAGR from 2021 to 2026 due to increased spending on internal security and military expenditure.
“Asia Pacific: The fastest-growing region in the Radiation detection, monitoring, and safety market”
The radiation detection, monitoring, and safety market is segmented into North America, Europe, Asia Pacific, and Rest of the World. Asia Pacific is projected to register the highest CAGR during the forecast period. Factors such as high spending on homeland security in Asia, high expected growth in China’s nuclear power industry, and the increasing number of nuclear power plants in India drive market growth in the APAC.
The primary interviews conducted for this report can be categorized as follows:
- By Company Type: Tier 1 – 28%, Tier 2 – 42%,and Tier 3 -30%
- By Designation: C-level – 30%, D-level – 34%, and Others – 36%
- By Region: North America- 46%, Europe- 25%, Asia Pacific – 18%, RoW – 11%
This report provides a detailed picture of the radiation detection, monitoring, and safety market. It aims at estimating the size and future growth potential of the market across different segments, such as product, composition, application, and region. The report also includes an in-depth competitive analysis of the key market players, along with their company profiles, recent developments, and key market strategies.
Key Benefits of Buying the Report:
The report will help market leaders/new entrants by providing them with the closest approximations of the revenue numbers for the overall radiation detection, monitoring, and safety market and its sub segments. It will also help stakeholders better understand the competitive landscape and gain more insights to better position their business and make suitable go-to-market strategies. This report will enable stakeholders to understand the market’s pulse and provide them with information on the key market drivers, restraints, opportunities, and challenges.
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