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Based on Technavio's market sizing methodology, the radiation detection monitoring and safety market size is predicted to surge by USD 1.48 billion from 2021 to 2026 at a CAGR of 7.21%.
This radiation detection monitoring and safety market research report provides valuable insights on the post-COVID-19 impact on the market, which will help companies evaluate their business approaches. The radiation detection monitoring and safety market report offers information on several market vendors, including 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., and Unfors RaySafe AB among others.
This report further entails radiation detection monitoring and safety market segmentations, including:
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The increasing military expenditure is notably driving the radiation detection monitoring and safety market growth, although factors such as the high cost of manufacturing radiation detection, monitoring, and safety devices may impede the market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the radiation detection monitoring and safety industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.
Key Radiation Detection Monitoring and Safety Market Driver
Key Radiation Detection Monitoring and Safety Market Trend
Key Radiation Detection Monitoring and Safety Market Challenge
This radiation detection monitoring and safety market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2022-2026.
Technavio categorizes the global radiation detection monitoring and safety market as a part of the global electrical components and equipment market. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the radiation detection monitoring and safety market during the forecast period.
The report analyzes the market's competitive landscape and offers information on several market vendors, including:
This statistical study of the radiation detection monitoring and safety market encompasses successful business strategies deployed by the key vendors. The radiation detection monitoring and safety market is fragmented and the vendors are deploying organic and inorganic growth strategies to compete in the market.
To make the most of the opportunities and recover from the post-COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.
The radiation detection monitoring and safety market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.
Our report provides extensive information on the value chain analysis for the radiation detection monitoring and safety market, which vendors can leverage to gain a competitive advantage during the forecast period. The end-to-end understanding of the value chain is essential in profit margin optimization and evaluation of business strategies. The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period.
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34% of the market's growth will originate from North America during the forecast period. The US is the key market for radiation detection monitoring and safety market in North America. Market growth in this region will be faster than the growth of the market in Middle East and Africa.
The rising number of PET/CT scan procedures performed on patients will facilitate the radiation detection monitoring and safety market growth in North America over the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.
COVID Impact and Recovery Analysis
In 2020, the COVID-19 outbreak negatively affected many industries, especially the US and Canada were highly affected by the spread of COVID-19. However, with the ramping up of COVID-19 vaccination drives from Q4 2020, most restrictions on the operations of medical device and industrial manufacturing units were lifted. Thus, with the reopening of several manufacturing units, the radiation detection, monitoring, and safety market in the region is estimated to grow during the forecast period.
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The radiation detection monitoring and safety market share growth by the healthcare segment will be significant during the forecast period. There is an increase in the demand for radiation detection, monitoring, and safety solutions in healthcare facilities, owing to the increasing use of radiation-based equipment in the diagnosis and treatment of several health conditions and diseases and the increasing adoption of diagnostic nuclear medicine equipment. These factors are expected to drive the radiation detection monitoring and safety market growth during the forecast period.
This report provides an accurate prediction of the contribution of all the segments to the growth of the radiation detection monitoring and safety market size and actionable market insights on the post-COVID-19 impact on each segment.
Radiation Detection Monitoring and Safety Market Scope |
|
Report Coverage |
Details |
Page number |
120 |
Base year |
2021 |
Forecast period |
2022-2026 |
Growth momentum & CAGR |
Accelerate at a CAGR of 7.21% |
Market growth 2022-2026 |
$1.48 billion |
Market structure |
Fragmented |
YoY growth (%) |
6.12 |
Regional analysis |
North America, Europe, APAC, Middle East and Africa, and South America |
Performing market contribution |
North America at 34% |
Key consumer countries |
US, China, Japan, Germany, and France |
Competitive landscape |
Leading companies, Competitive strategies, Consumer engagement scope |
Key companies profiled |
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., and Unfors RaySafe AB |
Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and Market condition analysis for the forecast period. |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
We can help! Our analysts can customize this report to meet your requirements. Get in touch
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Five Forces Analysis
5 Market Segmentation by Application
6 Customer Landscape
7 Geographic Landscape
8 Drivers, Challenges, and Trends
9 Vendor Landscape
10 Vendor Analysis
11 Appendix
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