Exposure to high level of radiations can be fatal and requires monitoring. Hospital workers, nuclear facilities engineers, and workers associated with industrial facilities housing radioactive materials share the need for protection from the harmful effects of radiation. Unmonitored exposure of penetrative ionizing rays such as gamma rays can alter the human genetic makeup thereby heightening the need for radiation detection, monitoring & safety devices.
Intermittent incidents of nuclear weapon-mediated terrorist activities, constantly threatening the global population have accentuated the need for protective and reliable equipment. Furthermore, the placement of safety measures is crucial in averting disastrous nuclear calamities, such as the nuclear power plant incident at Fukushima. Such incidents have further heightened the awareness levels amongst individuals to incorporate instruments that detect radioactivity, which has impacted the sales and led to a growth of the radiation detection, monitoring, and safety market.
In addition, the widespread incidences of cancer and the requirement of diagnostic procedures including PET and CT scans are expected to boost the market demand for these radioactivity detector devices during the forecast period. For example, according to the WHO fact sheet updated in February 2015, approximately 14 million new cases sprout every year and 8.2 million cancer-related deaths are reported; these figures are estimated to escalate by around 70% over the next 2 decades. Taken together, the raft of applications is expected to provide significant future growth opportunities to this vertical.
The increasing adoption rate of radiation monitors in sectors such as, environmental monitoring and plant safety, are expected to augment the market growth during the forecast period. Moreover, the technologically advanced features, such as, real-time remote radiological monitoring and pedestrian and vehicle radiation monitoring are expected to further push forward the market demand in the near foreseeable future.
Increasing cancer incidences and the subsequent requirement of diagnostic tests wherein, computer tomography scans and positron emission tomography scans are majorly used in the detection process. For example, as per the WHO fact sheet updated in February 2015, approximately 60% of the new cases are registered in regions of Africa, central and south America, and Asia and it is projected that the annual number of cancer cases will rise to 14 million by 2022, the high count of cancer patients is expected to present these regions with growth expansion opportunities during the forecast period.
Industry players, in an attempt to gain market share, are adopting strategic alliances such as partnership agreement. For instance, in March 2016, Mirion Technologies, Inc., partnered with Canadian power plant to upgrade their Perimeter Monitoring Equipment and in January 2016, Thermo Fisher Scientific, Inc., launched the New Environmental Chambers that aims to increase the stability of environmental conditions that are conducive for testing purposes. The company, additionally, expanded its territory to include the following regions: Latin America, Europe, Asia Pacific, and Africa.
In-depth report on global radiation detection, monitoring and safety market by Grand View Research:
Get your queries resolved from an industry expert. Request for a free product review before report purchase.
Speak to the report author to design an exclusive study to serve your research needs.
A testimonial for service excellence represented in the form of BBB "A" Accreditation.
Your personal and confidential information is safe and secure.