Radiation Monitoring Devices Market Size, Share, Opportunities, And Trends By Device Type (Survey Meters, Detectors, Personal Disometer), By Radiation Type (Alpha, Beta, Gamma, Neutron), By End-User (Power & Energy, Chemicals, Mining, Others), And By Geography - Forecasts From 2025 To 2030

Description

Radiation Monitoring Devices Market Size:

Radiation Monitoring Devices Market, with a 6.66% CAGR, is anticipated to reach USD 3.209 billion in 2030 from USD 2.325 billion in 2025.

The need for equipment protection against radioactive radiation has risen because of the growing usage of radioactive materials in industries such as power generation, industrial processing, research and development, and the security sector. Drone-based innovative monitoring technology is now developing in the market. For instance, in May 2021, the Nuclear Research Centre (SCK-CEN) in Belgium and the Belgian aeronautical company, Sabca created a system that enables drones to be used to do radioactive tests. Government financing of EUR 1 million was given to SCK-CEN and Sabca, and they are also contributing extra monies on their own.

Radiation Monitoring Devices Market Growth Drivers:

• Expansion of the radiation monitoring systems

The market for radiation monitoring systems will expand as nuclear energy output increases. For instance, the International Energy Agency reports that the production of nuclear electricity increased from 2634.69 TWh (Terawatt Hours) in 2020 to 2739.32 TWh in 2021. Similarly, according to projections from the International Atomic Energy Agency, there will be about 440 power reactors operating globally in 2023, providing about 10% of the world's electricity from nuclear energy.

Recent additions to the International Radiation Monitoring System (IRMIS) of the IAEA include Iraq, Jordan, Malaysia, Saudi Arabia, and Thailand, bringing the total number of participating nations to 48. IRMIS assists in the evaluation of the radiological situation in the event of a nuclear or radiological disaster and offers crucial information to prompt emergency response decision-makers. The system collects radiation monitoring data from more than 6000 stations throughout the world that are part of networks that are run at the national level.

• Utilization in the medical and healthcare industry

The medical and healthcare sector remains a key segment owing to the growing use of dosimeters and detectors in applications for nuclear medicine, treatment, emergency care, dentistry, and radiology. Radiation in various forms is utilized for both medical diagnosis and therapy.

As a result of the rising prevalence of cancer, nuclear medicine and radiation treatment are becoming more widely used, which will propel radiation monitoring devices' market expansion throughout the forecast period. For instance, the American Cancer Society predicted that in 2020 there would be over 1.81 million new instances of cancer in the country, of which about 0.61 million individuals would pass away from the illness. It was predicted that there would be close to 913,000 new cases of cancer among women in the US by 2020.

• An increase in the number of cancer cases

GLOBOCAN predicts that there will be 30 million cases of cancer worldwide by 2040, rising from 19.3 million cases in 2020. According to the World Nuclear Association, more than 40 million nuclear medical treatments are carried out annually, and the need for radioisotopes has grown by 5% yearly. Every year, more than 20 million nuclear medicine treatments are carried out in the US alone. The need for radiation detection, monitoring, and safety systems has increased due to the growing use of nuclear medicine in the diagnosis and treatment of many diseases, including cancer and cardiovascular ailments.

The rise of molecular imaging with new radiopharmaceuticals and new technologies is anticipated to result in continued growth in the coming decades, which may give momentum to the demand for radiation detection, monitoring, and safety devices, according to the National Oncology PET Registry, which notes that 85% of more than 1,600 PET facilities in the United States have PET/CT systems. To remain competitive in the industry, market vendors and researchers are incorporating new technology into their goods. For instance, in April 2020, researchers from the Los Alamos and Argonne National Laboratories created an X-ray detector based on the mineral perovskite, a calcium titanium oxide. X-ray imaging systems with more sensitive detectors could be able to give less radiation while producing images with higher picture quality.

• The survey meters segment is anticipated to grow substantially.

Survey meters are handheld devices used to measure and monitor levels of radiation in various environments. They play a crucial role in ensuring safety and protecting individuals from potential radiation hazards. They are widely used in a variety of industries and sectors where radiation exposure is a concern, including nuclear power plants, medical facilities, industrial settings, research laboratories, and emergency response teams. These devices are designed to detect and measure different types of radiation, such as alpha, beta, gamma, and neutron radiation. The primary function of survey meters is to provide real-time readings of radiation levels in the surrounding area. They typically feature a display screen or indicator that shows the detected radiation levels in units such as microsieverts per hour (µSv/h) or counts per minute (CPM). Some survey meters have audio or visual alarms to alert users when radiation levels exceed predefined thresholds.

• Growing awareness regarding radiation levels is a key growth factor. 

There are several key growth drivers contributing to the growth of the survey meters segment in the radiation monitoring devices market. One such key driver is the growing awareness of radiation hazards and the potential health risks associated with radiation exposure which is driving the demand for survey meters. Governments, regulatory bodies, and organizations are imposing stricter safety regulations, requiring the use of radiation monitoring devices such as survey meters. This emphasis on safety is propelling the growth of the segment.

Survey meters are also used extensively in industrial applications such as manufacturing, oil and gas, and mining industries. As these industries grow, these sectors will require the need to involve materials and processes that emit radiation, requiring continuous monitoring. The growing industrial activities and the need to comply with safety regulations will thus contribute to the demand for survey meters. For instance, global manufacturing increased from 16% of the global GDP in 2020 to 17% by 2021, as reported by the World Bank.

Radiation Monitoring Devices Market Geographical Outlook:

• The Asia Pacific is a dominant market for these solutions. 

Radiation monitoring devices provide necessary insight regarding the radiation exposure of an individual, owing to which such devices find high applicability in major sectors such as power & energy, mining, and chemical. The bolstering growth in India’s nuclear power capacity has provided a major scope to the market demand for radiation monitoring devices in the country’s power & energy sector.

For instance, according to the Ministry of Statistics and Program Implementation, in 2022, India’s installed nuclear power capacity stood at 6,780 MW which represented an increase of 17.3% over 2015’s installed capacity of 5,780 MW. Also, the Indian government is focusing on improving its nuclear power capacity owing to which the government has undertaken necessary investments.

For instance, as per the Union budget 2023-2024, India’s nuclear power operator “Nuclear Power Corporation of India Limited” received an allocation of INR9,410 which signified a 43% increase over the revised allocation. The increased allocation came as a part of the Indian government's increased nuclear power capacity from the current 6,780 MW to 15,700 MW by 2030.

Market Segmentation:

• By Device Type
  • Survey Meters
  • Detectors
  • Personal Disometer
• By Radiation Type
  • Alpha
  • Beta
  • Gamma
  • Neutron
• By End-User
  • Power & Energy
  • Chemicals
  • Mining
  • Others
• By Geography
  • North America
    • United States
    • Canada
    • Mexico
  • South America
    • Brazil
    • Argentina
    • Others
  • Europe
    • United Kingdom
    • Germany
    • France
    • Spain
    • Italy
    • Others
  • Middle East and Africa
    • Saudi Arabia
    • UAE
    • Israel
    • Others
  • Asia Pacific
    • Japan
    • China
    • India
    • South Korea
    • Indonesia
    • Thailand
    • Others

Table Of Contents

1. INTRODUCTION

1.1. Market Overview

1.2. Market Definition

1.3. Scope of the Study

1.4. Market Segmentation

1.5. Currency

1.6. Assumptions

1.7. Base, and Forecast Years Timeline

2. RESEARCH METHODOLOGY  

2.1. Research Data

2.2. Sources

2.3. Research Design

3. EXECUTIVE SUMMARY

3.1. Research Highlights

4. MARKET DYNAMICS

4.1. Market Drivers

4.2. Market Restraints

4.3. Porter’s Five Forces Analysis

4.3.1. Bargaining Power of Suppliers

4.3.2. Bargaining Power of Buyers

4.3.3. Threat of New Entrants

4.3.4. Threat of Substitutes

4.3.5. Competitive Rivalry in the Industry

4.4. Industry Value Chain Analysis

5. RADIATION MONITORING DEVICES MARKET, BY DEVICE TYPE

5.1. Introduction

5.2. Survey Meters

5.3. Detectors

5.4. Personal Disometer

6. RADIATION MONITORING DEVICES MARKET, BY RADIATION TYPE

6.1. Introduction

6.2. Alpha

6.3. Beta

6.4. Gamma

6.5. Neutron

7. RADIATION MONITORING DEVICES MARKET, BY END-USER

7.1. Introduction

7.2. Power & Energy

7.3. Chemicals

7.4. Mining

7.5. Others

8. RADIATION MONITORING DEVICES MARKET, BY GEOGRAPHY

8.1. Introduction

8.2. North America

8.2.1. USA

8.2.2. Canada

8.2.3. Mexico

8.3. South America

8.3.1. Brazil

8.3.2. Argentina

8.3.3. Others

8.4. Europe

8.4.1. United Kingdom

8.4.2. Germany

8.4.3. France

8.4.4. Spain

8.4.5. Italy

8.4.6. Others

8.5. Middle East and Africa

8.5.1. Saudi Arabia

8.5.2. UAE

8.5.3. Israel

8.5.4. Others

8.6. Asia Pacific

8.6.1. Japan

8.6.2. China

8.6.3. India

8.6.4. South Korea

8.6.5. Indonesia

8.6.6. Thailand

8.6.7. Others

9. COMPETITIVE ENVIRONMENT AND ANALYSIS

9.1. Major Players and Strategy Analysis

9.2. Emerging Players and Market Lucrativeness

9.3. Mergers, Acquisitions, Agreements, and Collaborations

9.4. Vendor Competitiveness Matrix

10. COMPANY PROFILES

10.1. Radiation Monitoring Devices Inc.

10.2. Thermo Fisher Scientific Inc.

10.3. Fuji Electric Co. Ltd

10.4. Mirion Technologies Inc.

10.5. Bertin Technologies

10.6. Berthold Technologies GmbH & Co KG

10.7. Coliy Group

10.8. Nucleonix System

10.9. Arktis Radiation Detection Ltd.

10.10. Radmetron Ltd.

Companies Profiled

Radiation Monitoring Devices Inc.

Thermo Fisher Scientific Inc.

Fuji Electric Co. Ltd

Mirion Technologies Inc.

Bertin Technologies

Berthold Technologies GmbH & Co KG

Coliy Group

Nucleonix System

Arktis Radiation Detection Ltd.

Radmetron Ltd.

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