Just the name of the gruesome disease named “Cancer” is enough to send chills down the spine. Therefore, it has become imperative to develop and leverage technology to fight and someday find a cure for this disease, which affects 14 million new lives every year and was the single despicable reason for 9.8 million deaths in 2018, according to World Health Organization.
According to WHO, Cancer’s major causes are tobacco addiction, diet, infections along with exposure to harmful radiation. Apart from radiation, other major causes can be avoided with strict change in behavior and routine. Radiation is believed to affect large number of lives of people exposed to higher concentration. However, as it is said, “Prevention is better than Cure”- it becomes highly important that safety against the cancerous particles and radiations among other things is observed and maintained.
Radiation affects mainly those people who are highly exposed to it, such as, hospital workers, nuclear facilities engineers, and workers associated with industrial facilities housing radioactive materials among others. 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.
What are Radiation detection, monitoring & safety devices?
As the name implies, these devices are specifically designed to detect radiation concentration & leakage, monitor its usage and ensure safety of the handlers and workers in the facilities storing and using radiations. Radiation detectors are high in demand as it provides early measures to tackle the harmful radiation in the facilities. Gas filled detectors used in Geiger-Muller counters, ionization chambers, radiation survey meters, and proportional counters are proving to a be a boon for the radiation handlers as they are portable, durable and economic to use.
In the monitoring segment, dosimeters are used to monitor the amount of radiation required in nuclear power plants as well as in hospitals and industries. Safety segment has full bodied aprons, barriers and shields among other things to protect handlers from radiation.
Why so Important?
There is a rise observed in the reasons to take ample steps to boost safety against the radiations; and the reasons are:
Incidents of nuclear power plant disasters like Chernobyl and Fukushima continuously reminds us to step up the safety parameters for not only those working in the nuclear power plant facilities but also for those living in major numbers in the cities around these facilities.
Intermittent incidents of nuclear weapon-mediated terrorist activities, constantly threatening the global population have accentuated the need for protective and reliable equipment. Along with this, Homeland security has delineated the risks arising out of these terrorist activities and are providing a major boost to the market.
Radiation plays an important role in detecting plants life, health and age. Therefore, it is also being effectively used in environment monitoring and ecological administration. It becomes highly important to monitor usage of radiation in this field, to avoid harmful effects to larger ecosystem.
Radiation therapy, PET and CT scans are common in medical diagnosis and treatment. This makes the installation of radiation detection and safety devices imperative in hospitals to maintain the optimum safety levels.
Several industry related applications of radiations have also generated the need to install these safety parameters and maintain the right safety levels.
Market Insights: -
Several market players are playing ball in this arena. Several key major players are Thermo Fischer Scientific (US), Mirion Technologies (US), and LANDAUER (US). Apart from these, some notable players in the market are Fuji Electric (Japan), Ludlum Measurement (US), Arktis Radiation Detection (Switzerland), Radiation Detection Company (US), AMETEK (US), Ultra Electronics (UK), Arrow-Tec (US), and Polimaster (Austria).
These companies are leveraging the strategy of making alliances to boost their growth. For example, 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.
Result of this intense competition and diverse tactics employed by the key players, Radiation Detection, Monitoring & Safety Market is anticipated to grow by over 7.3% CAGR in the coming years. While security risks are going to boost the growth of the market, shift towards the renewable sources from nuclear source is going to be an inhibiting factor for the market.
In-depth report on global radiation detection, monitoring & safety market by Grand View Research:
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