CHICAGO, July 16, 2024 /PRNewswire/ -- The global
radiation detection, monitoring, and safety market, valued at
USD 2.9 billion in 2024, is projected
to reach USD 4.4 billion by 2029,
growing at a CAGR of 8.3%. This growth is driven by increasing
cancer rates, heightened awareness of radiation safety, and a
rising number of nuclear medicine procedures, which currently total
about 40 million annually worldwide. However, the market faces
challenges such as the growing adoption of alternative energy
sources and a shortage of skilled professionals in the nuclear
industry. Notably, developing countries like India and China present significant growth opportunities
due to expanding nuclear power initiatives. The healthcare sector
dominates the market, with gas-filled detectors and lead materials
leading product segments. North
America holds the largest market share, supported by a
robust nuclear power industry and government initiatives promoting
radiation safety. Key players include Fortive, Mirion Technologies,
and Thermo Fisher Scientific. Recent innovations, such as new
dosimetry solutions and protective equipment, further indicate the
market's dynamic nature.
Download PDF Brochure:
https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=987
Browse in-depth TOC on "Radiation
Detection, Monitoring, and Safety
Market"
364 - Tables
44 - Figures
307 -
Pages
Product Segmentation and Dominance
The radiation detection, monitoring, and safety market is
categorized into radiation detection and monitoring products and
radiation safety products. In 2023, the radiation detection and
monitoring products segment held the largest market share,
indicating significant growth potential. The dominance of this
segment stems from its extensive use across various fields,
including medical imaging, homeland security, nuclear power plant
operations, and industrial applications.
Composition Segmentation Insights
The global radiation detection and monitoring market is divided
into gas-filled detectors, scintillators, and solid-state
detectors. The gas-filled detectors segment represented the largest
share in 2023, thanks to their favorable performance-to-cost ratio
and widespread applications in medical imaging.
Material Type Analysis
The radiation safety product market is classified into lead and
lead composites, as well as other materials. In 2023, lead and lead
composites led the radiation safety market due to their exceptional
ability to block X-rays and gamma rays, thanks to their high
density, making them highly effective shielding materials.
Application Segmentation Breakdown
The global radiation detection, monitoring, and safety market is
segmented into several applications, including healthcare, homeland
security and defense, industrial applications, and nuclear power
plants. In 2023, the healthcare sector accounted for the largest
share of the market, driven by increased use of nuclear medicine,
the proliferation of diagnostic imaging centers, heightened safety
awareness, and rising cancer rates.
Regional Market Analysis
The global radiation detection, monitoring, and safety market is
divided into six major regions: North
America, Europe,
Asia Pacific, Latin America, Middle East & Africa, and GCC countries. North America holds the largest market share,
attributed to factors such as government initiatives, the growth of
nuclear power plants, increasing cancer rates, and enhanced
radiation safety awareness.
Request Sample Pages:
https://www.marketsandmarkets.com/requestsampleNew.asp?id=987
Key Players in the Market
Prominent players in the radiation detection, monitoring, and
safety market include Fortive (US), Mirion Technologies Inc. (US),
AMETEK Inc. (US), Fuji Electric Co., Ltd. (Japan), and Thermo Fisher Scientific Inc.
(US), among others. These companies lead the market due to their
extensive product portfolios and global presence, playing crucial
roles in advancing radiation detection technologies.
Fortive's Market Leadership
In 2023, Fortive emerged as the leader in the medical radiation
detection, monitoring, and safety market. Renowned for its
technical and analytical services, Fortive is capable of assessing
environmental and occupational radiation exposure. The advanced
healthcare solutions segment generated approximately USD 1.3 billion in revenue in 2023, with a strong
focus on protecting healthcare professionals and patients while
enhancing medical imaging accuracy. Fortive's ongoing investment in
R&D supports its competitive edge, despite no recent
groundbreaking announcements.
Mirion Technologies' Strategic Position
Mirion Technologies Inc. is a top provider of detection,
measurement, analysis, and monitoring solutions across nuclear,
defense, medical, and research sectors. The company operates
through two main segments: Medical and Industrial, with a strong
emphasis on radiation detection and safety products in the medical
segment. Mirion's strategy involves continuous innovation and
compliance with strict safety standards, alongside growth through
strategic acquisitions and partnerships to expand its product
offerings and market reach.
For more information, inquire now! Inquire Now
Related Reports:
Medical Radiation Detection, Monitoring & Safety
Market
Radiotherapy Market
Patient Positioning Systems Market
Radiation Dose Management Market
Medical Radiation Shielding Market
Get access to the latest updates on Radiation Detection,
Monitoring & Safety Companies and Radiation
Detection, Monitoring & Safety Market Size
About MarketsandMarkets™:
MarketsandMarkets™ has been recognized as one of America's
best management consulting firms by Forbes, as per their recent
report.
MarketsandMarkets™ is a blue ocean alternative in growth
consulting and program management, leveraging a man-machine
offering to drive supernormal growth for progressive organizations
in the B2B space. We have the widest lens on emerging technologies,
making us proficient in co-creating supernormal growth for
clients.
Earlier this year, we made a formal transformation into one of
America's best management consulting firms as per a survey
conducted by Forbes.
The B2B economy is witnessing the emergence of $25 trillion of new revenue streams that are
substituting existing revenue streams in this decade alone. We work
with clients on growth programs, helping them monetize this
$25 trillion opportunity through our
service lines - TAM Expansion, Go-to-Market (GTM) Strategy to
Execution, Market Share Gain, Account Enablement, and Thought
Leadership Marketing.
Built on the 'GIVE Growth' principle, we work with several
Forbes Global 2000 B2B companies - helping them stay relevant in a
disruptive ecosystem. Our insights and strategies are molded by our
industry experts, cutting-edge AI-powered Market Intelligence
Cloud, and years of research. The KnowledgeStore™ (our Market
Intelligence Cloud) integrates our research, facilitates an
analysis of interconnections through a set of applications, helping
clients look at the entire ecosystem and understand the revenue
shifts happening in their industry.
To find out more, visit www.MarketsandMarkets™.com or follow us
on Twitter, LinkedIn and Facebook.
Contact:
Mr. Rohan
Salgarkar
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA: +1-888-600-6441
Email: sales@marketsandmarkets.com
Visit Our Website: https://www.marketsandmarkets.com/
Logo:
https://mma.prnewswire.com/media/1951202/4609423/MarketsandMarkets.jpg
View original
content:https://www.prnewswire.co.uk/news-releases/radiation-detection-monitoring-and-safety-market-4-4-billion-by-2029--cagr-8-3--marketsandmarkets-302197827.html