Radiation Detection, Monitoring and Safety Market Trends, Growth Prospects To 2022

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Global radiation detection, monitoring and safety market is anticipated to witness remarkable growth over the coming seven years owing to increasing nuclear terrorism and strict government regulations pertaining to radiation safety devices. Moreover, increasing awareness about effects of radiation and technological advancements in radiation devices is expected to drive the market growth in near future. Furthermore, increasing incorporation of radioactive components into consumer products such as fluorescent lamps, radio luminous products and nuclear medicines is expected to play a pivotal role in the growth of radiation detection, monitoring and safety market over the forecast period.

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The radiation detection, monitoring and safety market is categorized on the basis of product and industry type. On the basis of products, the market is divided into computed tomography, fluoroscopy and radiography. Computed tomography is helpful in recording multiple X-ray images as the devices revolves around whole human body. This segment is anticipated to register fastest growth over the forecast period owing increasing applicability in healthcare diagnosis. By industry type, the radiation detection, monitoring and safety market is segmented as manufacturing, homeland security & defence and nuclear power plants. The devices used in the industries are personal dosimeters, area process monitors, scintillators, radioactive material monitors and survey meters. Area process monitors and personal dosimeters market is expected to witness lucrative market growth due to rising threat of nuclear attacks. Geographically, in 2014, North America held the largest market share owing to technological advancements and increasing threats of nuclear terrorism. European countries are also expected to witness speedy growth in near future due to stabilized position of manufacturers after Fukushima disaster and rising safety concerns among people. High growth opportunities are expected in Asia pacific region as India and China are emerging as a nuclear hub. Rising prevalence of cancer and security concerns are expected to fuel the market growth in Latin America.

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The key players in radiation detection, monitoring and safety market are Centronic Limited, General Electric Measurement and Control, Fuji Electric Co., Canberra Industries Inc., Landauer Inc., Atomtex SPE, Smiths Detection Groups Limited, Lab Impex Systems Limited, Thermo Fisher Scientific Inc., Ametek Inc. and Redlen Technologies Inc. The market players are adopting technically advanced methods helpful in detecting, radioactive nuclides such as dirty bombs and nuclear weapons, which are expected to provide this market with lucrative growth platform.

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