Radiation detection monitoring and safety market size to grow by USD 1.48 billion between 2021 and 2026; Growth driven by increasing military expenditure - Technavio

NEW YORK, March 28, 2023 /PRNewswire/ -- The radiation detection monitoring and safety market size is estimated to grow by USD 1.48 billion between 2021 and 2026, progressing at a CAGR of 7.21% during the forecast period, according to Technavio. The market is driven by increasing military expenditure. Globally, the spending on the military grew by 6.1% and accounted for USD 2.1 trillion in 2021. This can be attributed to increased R&D spending for the development of next-generation technologies. Also, the global expenditure on the military continued to grow amid the outbreak of the COVID-19 pandemic. All these factors have increased the growth opportunities for vendors that offer radiation detection monitoring and safety solutions, which is driving the growth of the market. For more insights on the market size (2022 to 2026) - Request a sample report

Radiation Detection Monitoring and Safety Market 2022-2026: Scope

Technavio presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources. Our radiation detection monitoring and safety market report covers the following areas:

• Radiation Detection Monitoring and Safety Market Size
• Radiation Detection Monitoring and Safety Market Trends
• Radiation Detection Monitoring and Safety Market Analysis

Radiation Detection Monitoring and Safety Market 2022-2026: Regional Analysis

North America will account for 34% of the market growth during the forecast period. The growth of the regional market can be attributed to the strong presence of key vendors, the increasing adoption of technologically advanced radiation detection, monitoring, and safety devices, and growing demand from various end-users. The growth of the radiation detection monitoring and safety market in North America will also be driven by factors such as the rising number of PET/CT scan procedures performed on patients, increasing R&D activities in nuclear medicine and radiation therapy for the diagnosis and treatment of various diseases, and the growing prevalence of cancer.

Radiation Detection Monitoring and Safety Market 2022-2026: Segmentation

The radiation detection monitoring and safety market is segmented as below:

• Application 
• Healthcare
• Nuclear Power Plants
• Homeland Security and Defense
• Industrial Applications
• Geography 
• North America
• Europe
• APAC
• Middle East and Africa
• South America

The market growth in the healthcare segment will be significant during the forecast period. The increasing use of radiation-based equipment in the diagnosis and treatment of various health conditions and the increasing adoption of diagnostic nuclear medicine equipment are driving the growth of the segment. Also, the increasing number of interventional procedures that involve medical radiation is driving the growth of the segment.

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Radiation Detection Monitoring and Safety Market 2022-2026: Vendor Analysis

We provide a detailed analysis of around 25 vendors operating in the radiation detection monitoring and safety market, including some of the key vendors. Backed with competitive intelligence and benchmarking, our research report on the radiation detection monitoring and safety market is designed to provide entry support, customer profile, and M&As as well as go-to-market strategy support.

The global radiation detection, monitoring, and safety market is fragmented due to the presence of many vendors. Vendors are trying to expand their product portfolios by launching new variants of radiation detection, monitoring, and safety products. Some vendors are launching new radiation detection, monitoring, and safety devices, such as hybrid wearable and smart home devices, to expand their product portfolios and gain a competitive edge in the market. Also, vendors compete based on price, product performance, R&D, technological innovations, strategic collaborations, market expansion, and distribution networks. The competition is likely to become more intense during the forecast period with the launch of new, innovative products. Hence, the threat of rivalry was high in 2021, and it is anticipated to remain unchanged during the forecast period. Some of the key vendors covered in this report include:

• Baker Hughes Co.
• ECOTEST
• Fuji Electric Co. Ltd.
• Honeywell International Inc.
• International Medcom Inc.
• Mirion Technologies Inc.
• Polimaster LLC
• Rapiscan Systems Inc.
• Teledyne FLIR LLC
• Thermo Fisher Scientific Inc.
• AMETEK Inc
• Amray Medical
• Arktis Radiation Detectors Ltd
• Bar Ray Products Inc.
• Centronic Ltd
• John Caunt Scientific Ltd.
• LANDAUER
• Ludlum Measurements Inc.
• S.E. International Inc.
• Unfors RaySafe AB

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Radiation Detection Monitoring and Safety Market 2022-2026: Key Highlights

• CAGR of the market during the forecast period 2022-2026
• Detailed information on factors that will assist radiation detection monitoring and safety market growth during the next five years
• Estimation of the radiation detection monitoring and safety market size and its contribution to the parent market
• Predictions on upcoming trends and changes in consumer behavior
• The growth of the radiation detection monitoring and safety market
• Analysis of the market's competitive landscape and detailed information on vendors
• Comprehensive details of factors that will challenge the growth of radiation detection monitoring and safety market vendors

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Table of contents:

1 Executive Summary

• 1.1 Market overview
• Exhibit 01: Executive Summary – Chart on Market Overview
• Exhibit 02: Executive Summary – Data Table on Market Overview
• Exhibit 03: Executive Summary – Chart on Global Market Characteristics
• Exhibit 04: Executive Summary – Chart on Market by Geography
• Exhibit 05: Executive Summary – Chart on Market Segmentation by Application
• Exhibit 06: Executive Summary – Chart on Incremental Growth
• Exhibit 07: Executive Summary – Data Table on Incremental Growth
• Exhibit 08: Executive Summary – Chart on Vendor Market Positioning

2 Market Landscape

• 2.1 Market ecosystem
• Exhibit 09: Parent market
• Exhibit 10: Market Characteristics

3 Market Sizing

• 3.1 Market definition
• Exhibit 11: Offerings of vendors included in the market definition

• 3.2 Market segment analysis
• Exhibit 12: Market segments

• 3.3 Market size 2021

• 3.4 Market outlook: Forecast for 2021-2026
• Exhibit 13: Chart on Global - Market size and forecast 2021-2026 ($ million)
• Exhibit 14: Data Table on Global - Market size and forecast 2021-2026 ($ million)
• Exhibit 15: Chart on Global Market: Year-over-year growth 2021-2026 (%)
• Exhibit 16: Data Table on Global Market: Year-over-year growth 2021-2026 (%)

4 Five Forces Analysis

• 4.1 Five forces summary
• Exhibit 17: Five forces analysis - Comparison between2021 and 2026

• 4.2 Bargaining power of buyers
• Exhibit 18: Chart on Bargaining power of buyers – Impact of key factors 2021 and 2026

• 4.3 Bargaining power of suppliers
• Exhibit 19: Bargaining power of suppliers – Impact of key factors in 2021 and 2026

• 4.4 Threat of new entrants
• Exhibit 20: Threat of new entrants – Impact of key factors in 2021 and 2026

• 4.5 Threat of substitutes
• Exhibit 21: Threat of substitutes – Impact of key factors in 2021 and 2026

• 4.6 Threat of rivalry
• Exhibit 22: Threat of rivalry – Impact of key factors in 2021 and 2026

• 4.7 Market condition
• Exhibit 23: Chart on Market condition - Five forces 2021 and 2026

5 Market Segmentation by Application

• 5.1 Market segments
• Exhibit 24: Chart on Application - Market share 2021-2026 (%)
• Exhibit 25: Data Table on Application - Market share 2021-2026 (%)

• 5.2 Comparison by Application
• Exhibit 26: Chart on Comparison by Application
• Exhibit 27: Data Table on Comparison by Application

• 5.3 Healthcare - Market size and forecast 2021-2026
• Exhibit 28: Chart on Healthcare - Market size and forecast 2021-2026 ($ million)
• Exhibit 29: Data Table on Healthcare - Market size and forecast 2021-2026 ($ million)
• Exhibit 30: Chart on Healthcare - Year-over-year growth 2021-2026 (%)
• Exhibit 31: Data Table on Healthcare - Year-over-year growth 2021-2026 (%)

• 5.4 Nuclear power plants - Market size and forecast 2021-2026
• Exhibit 32: Chart on Nuclear power plants - Market size and forecast 2021-2026 ($ million)
• Exhibit 33: Data Table on Nuclear power plants - Market size and forecast 2021-2026 ($ million)
• Exhibit 34: Chart on Nuclear power plants - Year-over-year growth 2021-2026 (%)
• Exhibit 35: Data Table on Nuclear power plants - Year-over-year growth 2021-2026 (%)

• 5.5 Homeland security and defense - Market size and forecast 2021-2026
• Exhibit 36: Chart on Homeland security and defense - Market size and forecast 2021-2026 ($ million)
• Exhibit 37: Data Table on Homeland security and defense - Market size and forecast 2021-2026 ($ million)
• Exhibit 38: Chart on Homeland security and defense - Year-over-year growth 2021-2026 (%)
• Exhibit 39: Data Table on Homeland security and defense - Year-over-year growth 2021-2026 (%)

• 5.6 Industrial applications - Market size and forecast 2021-2026
• Exhibit 40: Chart on Industrial applications - Market size and forecast 2021-2026 ($ million)
• Exhibit 41: Data Table on Industrial applications - Market size and forecast 2021-2026 ($ million)
• Exhibit 42: Chart on Industrial applications - Year-over-year growth 2021-2026 (%)
• Exhibit 43: Data Table on Industrial applications - Year-over-year growth 2021-2026 (%)

• 5.7 Market opportunity by Application
• Exhibit 44: Market opportunity by Application ($ million)

6 Customer Landscape

• 6.1 Customer landscape overview
• Exhibit 45: Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria

7 Geographic Landscape

• 7.1 Geographic segmentation
• Exhibit 46: Chart on Market share by geography 2021-2026 (%)
• Exhibit 47: Data Table on Market share by geography 2021-2026 (%)

• 7.2 Geographic comparison
• Exhibit 48: Chart on Geographic comparison
• Exhibit 49: Data Table on Geographic comparison

• 7.3 North America - Market size and forecast 2021-2026
• Exhibit 50: Chart on North America - Market size and forecast 2021-2026 ($ million)
• Exhibit 51: Data Table on North America - Market size and forecast 2021-2026 ($ million)
• Exhibit 52: Chart on North America - Year-over-year growth 2021-2026 (%)
• Exhibit 53: Data Table on North America - Year-over-year growth 2021-2026 (%)

• 7.4 Europe - Market size and forecast 2021-2026
• Exhibit 54: Chart on Europe - Market size and forecast 2021-2026 ($ million)
• Exhibit 55: Data Table on Europe - Market size and forecast 2021-2026 ($ million)
• Exhibit 56: Chart on Europe - Year-over-year growth 2021-2026 (%)
• Exhibit 57: Data Table on Europe - Year-over-year growth 2021-2026 (%)

• 7.5 APAC - Market size and forecast 2021-2026
• Exhibit 58: Chart on APAC - Market size and forecast 2021-2026 ($ million)
• Exhibit 59: Data Table on APAC - Market size and forecast 2021-2026 ($ million)
• Exhibit 60: Chart on APAC - Year-over-year growth 2021-2026 (%)
• Exhibit 61: Data Table on APAC - Year-over-year growth 2021-2026 (%)

• 7.6 Middle East and Africa - Market size and forecast 2021-2026
• Exhibit 62: Chart on Middle East and Africa - Market size and forecast 2021-2026 ($ million)
• Exhibit 63: Data Table on Middle East and Africa - Market size and forecast 2021-2026 ($ million)
• Exhibit 64: Chart on Middle East and Africa - Year-over-year growth 2021-2026 (%)
• Exhibit 65: Data Table on Middle East and Africa - Year-over-year growth 2021-2026 (%)

• 7.7 South America - Market size and forecast 2021-2026
• Exhibit 66: Chart on South America - Market size and forecast 2021-2026 ($ million)
• Exhibit 67: Data Table on South America - Market size and forecast 2021-2026 ($ million)
• Exhibit 68: Chart on South America - Year-over-year growth 2021-2026 (%)
• Exhibit 69: Data Table on South America - Year-over-year growth 2021-2026 (%)

• 7.8 US - Market size and forecast 2021-2026
• Exhibit 70: Chart on US - Market size and forecast 2021-2026 ($ million)
• Exhibit 71: Data Table on US - Market size and forecast 2021-2026 ($ million)
• Exhibit 72: Chart on US - Year-over-year growth 2021-2026 (%)
• Exhibit 73: Data Table on US - Year-over-year growth 2021-2026 (%)

• 7.9 China - Market size and forecast 2021-2026
• Exhibit 74: Chart on China - Market size and forecast 2021-2026 ($ million)
• Exhibit 75: Data Table on China - Market size and forecast 2021-2026 ($ million)
• Exhibit 76: Chart on China - Year-over-year growth 2021-2026 (%)
• Exhibit 77: Data Table on China - Year-over-year growth 2021-2026 (%)

• 7.10 Germany - Market size and forecast 2021-2026
• Exhibit 78: Chart on Germany - Market size and forecast 2021-2026 ($ million)
• Exhibit 79: Data Table on Germany - Market size and forecast 2021-2026 ($ million)
• Exhibit 80: Chart on Germany - Year-over-year growth 2021-2026 (%)
• Exhibit 81: Data Table on Germany - Year-over-year growth 2021-2026 (%)

• 7.11 Japan - Market size and forecast 2021-2026
• Exhibit 82: Chart on Japan - Market size and forecast 2021-2026 ($ million)
• Exhibit 83: Data Table on Japan - Market size and forecast 2021-2026 ($ million)
• Exhibit 84: Chart on Japan - Year-over-year growth 2021-2026 (%)
• Exhibit 85: Data Table on Japan - Year-over-year growth 2021-2026 (%)

• 7.12 France - Market size and forecast 2021-2026
• Exhibit 86: Chart on France - Market size and forecast 2021-2026 ($ million)
• Exhibit 87: Data Table on France - Market size and forecast 2021-2026 ($ million)
• Exhibit 88: Chart on France - Year-over-year growth 2021-2026 (%)
• Exhibit 89: Data Table on France - Year-over-year growth 2021-2026 (%)

• 7.13 Market opportunity by geography
• Exhibit 90: Market opportunity by geography ($ million)

8 Drivers, Challenges, and Trends

• 8.1 Market drivers

• 8.2 Market challenges

• 8.3 Impact of drivers and challenges
• Exhibit 91: Impact of drivers and challenges in 2021 and 2026

• 8.4 Market trends

9 Vendor Landscape

• 9.1 Overview

• 9.2 Vendor landscape
• Exhibit 92: Overview on Criticality of inputs and Factors of differentiation

• 9.3 Landscape disruption
• Exhibit 93: Overview on factors of disruption

• 9.4 Industry risks
• Exhibit 94: Impact of key risks on business

10 Vendor Analysis

• 10.1 Vendors covered
• Exhibit 95: Vendors covered

• 10.2 Market positioning of vendors
• Exhibit 96: Matrix on vendor position and classification

• 10.3 Amray Medical
• Exhibit 97: Amray Medical - Overview
• Exhibit 98: Amray Medical - Product / Service
• Exhibit 99: Amray Medical - Key offerings

• 10.4 Fuji Electric Co. Ltd.
• Exhibit 100: Fuji Electric Co. Ltd. - Overview
• Exhibit 101: Fuji Electric Co. Ltd. - Business segments
• Exhibit 102: Fuji Electric Co. Ltd. - Key offerings
• Exhibit 103: Fuji Electric Co. Ltd. - Segment focus

• 10.5 Honeywell International Inc.
• Exhibit 104: Honeywell International Inc. - Overview
• Exhibit 105: Honeywell International Inc. - Business segments
• Exhibit 106: Honeywell International Inc. - Key news
• Exhibit 107: Honeywell International Inc. - Key offerings
• Exhibit 108: Honeywell International Inc. - Segment focus

• 10.6 LANDAUER
• Exhibit 109: LANDAUER - Overview
• Exhibit 110: LANDAUER - Product / Service
• Exhibit 111: LANDAUER - Key offerings

• 10.7 Ludlum Measurements Inc.
• Exhibit 112: Ludlum Measurements Inc. - Overview
• Exhibit 113: Ludlum Measurements Inc. - Product / Service
• Exhibit 114: Ludlum Measurements Inc. - Key offerings

• 10.8 Mirion Technologies Inc.
• Exhibit 115: Mirion Technologies Inc. - Overview
• Exhibit 116: Mirion Technologies Inc. - Product / Service
• Exhibit 117: Mirion Technologies Inc. - Key offerings

• 10.9 Polimaster LLC
• Exhibit 118: Polimaster LLC - Overview
• Exhibit 119: Polimaster LLC - Product / Service
• Exhibit 120: Polimaster LLC - Key news
• Exhibit 121: Polimaster LLC - Key offerings

• 10.10 S.E. International Inc.
• Exhibit 122: S.E. International Inc. - Overview
• Exhibit 123: S.E. International Inc. - Product / Service
• Exhibit 124: S.E. International Inc. - Key offerings

• 10.11 Teledyne FLIR LLC
• Exhibit 125: Teledyne FLIR LLC - Overview
• Exhibit 126: Teledyne FLIR LLC - Business segments
• Exhibit 127: Teledyne FLIR LLC - Key offerings
• Exhibit 128: Teledyne FLIR LLC - Segment focus

• 10.12 Thermo Fisher Scientific Inc.
• Exhibit 129: Thermo Fisher Scientific Inc. - Overview
• Exhibit 130: Thermo Fisher Scientific Inc. - Business segments
• Exhibit 131: Thermo Fisher Scientific Inc. - Key news
• Exhibit 132: Thermo Fisher Scientific Inc. - Key offerings
• Exhibit 133: Thermo Fisher Scientific Inc. - Segment focus

11 Appendix

• 11.1 Scope of the report

• 11.2 Inclusions and exclusions checklist
• Exhibit 134: Inclusions checklist
• Exhibit 135: Exclusions checklist

• 11.3 Currency conversion rates for US$
• Exhibit 136: Currency conversion rates for US$

• 11.4 Research methodology
• Exhibit 137: Research methodology
• Exhibit 138: Validation techniques employed for market sizing
• Exhibit 139: Information sources

• 11.5 List of abbreviations
• Exhibit 140: List of abbreviations

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