Radiation Detection, Monitoring, and Safety Market - Growth, Trends, COVID-19 ImPosted by Statzy Market Research on April 6th, 2021 - Radiation sources are used to power spacecraft and satellites and can be used to generate electrical power for consumer use, as it is done in a nuclear reactor. There are between 400 and 500 nuclear reactors producing around 10% of the world’s electricity in 2019. According to the World Nuclear Association, the United States has the highest number of nuclear power reactors in operation as of June 2019, i.e., 97, followed by France with 58 and China with 45. - Thus, the increased use of radioactive materials in areas, such as power production, industrial processing, medical research and processing, and the security sector, intensified the need for equipment offering protection against radioactive radiations. - Moreover, increasing incidence of cancer is leading to high awareness, related to the harmful effect of radiation. Government and environmental protection agencies are introducing rules and regulations and imposing limitations on radiation levels. - Furthermore, countries spend significantly in the development of nuclear weapons and facilities, which is expected to boost the adoption of radiation detection, monitoring, and safety equipment. According to the Federation of American Scientists, the United States and Russia are among the countries with the maximum number of nuclear weapons as of May 2019. Increased use of radioactive materials across areas, such as diverse industrial processes, power production, and the defense sector, coupled with the heightened global threat of terrorist-operated nuclear weapons, has intensified the need for reliable equipment that offers protection from radioactive radiation. - With multiple regions at different trajectories of the COVID-19 impact, certain aspects of radiation protection have been witnessed remaining in need. One such is the power plants’ engagement to keep up with the increasing electricity demand. The allied hospitals in need of diagnostic and therapeutic procedures have depicted requirements for radiation monitoring systems, and likewise, the nuclear medicine to be produced and safely transported to pharmacies have remained significant. - Radioactive source gauges, thus, have been busy for quality assurance and quality control across multiple industrial processes. Industrial radiographers and engineers were required to test the integrity of structures at production plants and were unaffected by COVID-19. However, a time frame to safely work with or around radiation emitting devices was important and depicted a halt in the industry toward adoption of detection/monitoring devices. - X-ray diagnostics (general and dental radiography) and therapies, which make use of radioisotopes in oncology and some other serious diseases, attribute to the primary contribution to the dose absorbed by a person from human-made radiation sources. The upcoming diagnostic and therapeutic methods, based on the use of radioactive elements, are also being adopted. - Radiation (radioisotope) therapy remains one of the main approaches to fight cancer. To reduce the negative impact of radiation on the personnel of healthcare facilities, the market vendors are offering personal dosimeters and automated systems of personal dosimetry control. - Moreover, increasing investments in cancer therapy within the regions that are witnessing an increase in the number of diagnosed patients are further expected to increase the demand for radiation therapy and medical devices. - According to the data by the American cancer Society Inc., in 2019, 1,762,450 new cases of cancer were reported, and 606,880 people died of cancer in the United States. The federal expenditure for cancer in the United States is expected to reach nearly USD 156 billion, by 2020. - Furthermore, the fact wherein major vendors of this industry are based in the United States is expected to boost market growth during the forecast period. For instance, the radiation detection, monitoring, and safety market in the region are dominated by Thermo Fischer Scientific, Mirion Technologies, Ludlum Measurement, Ametek, Ultra Electronics, and Landauer, among others. - The United States is looking to reduce dependence on thermal power. According to, BP Plc reports, United States accounted for some 30.5% of the total nuclear power consumption worldwide in 2019, and according to EIA, the United States consumed about 8.46 quadrillion British thermal units of energy derived from nuclear sources, generating around 809.4 terawatt-hours of electricity in the same year. World Nuclear Association says that 95 nuclear power reactors were in operation in the United States as of October 2020, as per IAEA sourced data. - EIA estimates that the United States' nuclear electricity generation capacity will be increased by 4.4 gigawatts in 2020. Multiple new nuclear power plants are under construction in Georgia and South Carolina and indicate the opportunity for the demand for radiation monitoring and detection products. Strict regulations for workers’ safety in the nuclear industry are supposed to give momentum to Radiation Detection, Monitoring, and Safety devices in the country. - There has been a shift toward mechanized radiation monitoring and inspection of oil and gas pipelines from the manual method of ultrasound application. These trends reflect that more focus is being placed on making the test increasingly automated, as some of the test sites require technicians to work in extreme site conditions, which can be carried-out through drone application, consequently fostering the growth of the market. - May 2019 - Europe-based Kromek launched D3S PRD personal radiation detector, which consists of a palm-sized detector and rugged mobile phone. It is a high-speed PRD or SPRD (spectroscopic radiation detector) replacement, which is a cost-effective radiation detection and preliminary identification device that puts a very powerful and sensitive radiation detector into the hands of first-line users. Like it? Share it! More by this author |