Radiation Detection Monitoring & Safety Market size is estimated to be $2.4 billion in 2019, growing at a CAGR of 6.9% during the forecast period 2020-2025. Rising use of radioactive materials among various end use such as defense, healthcare, medical research and in various industrial application is a significant factor driving the radiation detection monitoring and safety market during the forecast period 2020-2025.Increasing prevalence of cancer and the radiation used for killing cancer cells is also contributing to its market growth. Furthermore, radiation detectors utilize the interaction of ionizing radiation to produce UV or visible light are called scintillation detectors. In addition these detectors yield information about energy distribution of incident radiation and thus can be utilized in spectrometers. Furthermore, hospitals, doctors and dentist use a variety of nuclear materials to diagnose, monitor and treat a wide assortment of metabolic process and medical condition in humans.

Key Takeaways

By product, the Personal Dosimeters are projected to have the fastest growth rat with a CAGR of 6% during the forecast period 2020-2025. This is owing to the rise in technological advancements for detection of radiation. 
Growing number of cancer patients and the use of high energy radiation to damage cancer cells DNA and destroy their ability to divide and grow is a significant factor driving the radiation detection monitoring and safety market.
North America dominated radiation detection monitoring and safety market in 2019 owing to the better healthcare infrastructure, technological development, improved industrial infrastructure, presence of major players and a higher rate of adoption of new technologies in the region.
Increasing number of cancer patients all over the world and the use of radiation therapy to kill cancer cells is a significant factor driving the Radiation Detection Monitoring and Safety Market during the forecast period 2020-2025.

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Geography- Segment Analysis

North America accounted for 45% of the Radiation Detection Monitoring and Safety Market share in 2019 owing to the technological development, improved industrial infrastructure, better healthcare infrastructure, presence of major players and a higher rate of adoption of new technologies in the region. In fact, diagnostic x-ray or radiation therapy has been administered to about 7 out of every 10 Americans. As a result medical procedures using radiation have saved thousands of lives through the detection and treatment of conditions ranging from hyperthyroidism to bone cancer thereby contributing to its market growth. Furthermore, the increasing use of personal dosimeters, radionuclide and environmental monitoring is also contributing to its market growth.

Drivers – Radiation Detection Monitoring and Safety Market

Increasing Number of Cancer Patients
Technological Advancements in Radiation Detection 

Terahertz and Infrared Spectroscopy Market top 10 companies are Thermofisher Scientific Inc, Canberra Industries Inc, Bar-Ray Products Inc, Amtek Inc, Biodex Medical System Inc, Nuclear Control System, Arrow-Tech Inc, Radiation Detection Company Inc, Fuji Electric Co Ltd and Mirion Technologies Inc.

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