Global Radiation Detection Products Market 2016-2020

Overview of the global radiation detection products market

The global radiation detection products market is anticipated to grow at a steady rate and will post a CAGR of more than 5% during the forecast period. Increasing technological advancements witnessed in the radiation therapy segment will drive the growth prospects for the global radiation detection products market in the forthcoming years. Nuclear medicine imaging and therapy are used for the treatment of major diseases such as cancers, cardiovascular diseases, and neurological disorders, which involve computed tomography, positron emission tomography, and single photo emission computed tomography. Also, the radiation therapy devices can detect a disease, determine the extent and severity of the disease, and monitor patients' response to radiation therapy. Furthermore, some of the services provided by vendors in radiation oncology physics services are accreditation consulting, cancer center planning and design, equipment commissioning, on-site physics and dosimetry support, quality assurance review, shielding design, special physics consulting, and regulatory compliance and radiation safety programs. In addition, the quantity of radiation dose administered from the radiation producing devices during the medical imaging and radiation oncology procedures can be measured using optically stimulated luminescence (OSL) dosimeters.

Increasing innovations in radiation detection materials will drive the growth prospects for the global radiation detection products market in the coming years. Some of the materials used in radiation detectors include scintillators, high-purity germanium, doped silicon, radioisotope tritium or helium three as neutron detectors and other techniques such as low-tech photographic films or track-etch detectors and exotic bubble detectors.

Competitive landscape and key vendors

The radiation detection market highly is diversified and competitive due to the presence of a large number of regional and global vendors. These vendors are increasingly adopting various marketing strategies such as leasing, providing economic benefits, and return on investment (ROI) to increase their sales. Furthermore, it has been observed that the vendors are increasingly focusing on offering a wide range of products to gain profitability.

Key vendors in this market are -

• Mirion Technologies
• Landauer
• Thermo Fisher Scientific

Other prominent vendors in the market include Carestream Health, FujiFilm Holdings, Esaote, FLIR Systems, Fluke, GE Healthcare, Hitachi Healthcare, Hologic, James Fisher and Sons, Toshiba Medical Systems, Shimadzu, Philips Healthcare, and Siemens Healthcare.

Segmentation by application and analysis of the radiation detection products market

• Medical and healthcare
• Industrial and scientific
• Domestic security and military

The medical and healthcare segment accounted for the maximum market share during 2015 and will continue to dominate the market for the next few years. This segment is categorized into positron emission tomography, radiography, and single-photon emission computed tomography. One of the major factors responsible for the market’s growth is the maximum revenue generation witnessed from positron emission tomography (PET) scan as it is used for the diagnosis of diseases such as heart diseases, endocrine disorders, different types of cancers, neurological disorders, gastrointestinal disorders, and other abnormalities.

Segmentation by geography and analysis of the radiation detection products market

• Americas
• APAC
• EMEA

In terms of geography, the Americas accounted for the maximum market share during 2015 and will continue to dominate the market until the end of 2020. With the increased threat of nuclear or radiological weapons in the region, the adoption of the radiation detection instruments at airports and seaport has significantly increased.

Key questions answered in the report include

• What will the market size and the growth rate be in 2020?
• What are the key factors driving the global radiation detection products market?
• What are the key market trends impacting the growth of the global radiation detection products market?
• What are the challenges to market growth?
• Who are the key vendors in the global radiation detection products market?
• What are the market opportunities and threats faced by the vendors in the global radiation detection products market?
• What are the trending factors influencing the market shares of the Americas, APAC, and EMEA?
• What are the key outcomes of the five forces analysis of the global radiation detection products market?

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