The global radiation tester market size was valued at USD 1.8 billion in 2022 and is likely to reach a valuation of USD 1.9 billion in 2023.
The overall sales of radiation testers are projected to rise at a steady CAGR of 5.8% between 2023 and 2033, totaling around USD 3.3 billion by the end of 2033 with the rising adoption of radiation testers in medical research, nuclear power plants, manufacturing, oil & resource explorations, and defense
The rising usage of radioactive elements across various areas such as medical research, industrial processing, and power production has created enormous demand for radiation detection and testing equipment over the years. This trend is likely to continue during the forecast period.
Radiation testers are unique equipment used for detecting, identifying, or even measuring high-energy particles (radioactive radiation). Also, they are being increasingly employed to measure radiation dose or radionuclide contamination for reasons to the assessment or control of exposure to radiation or radioactive substances.
Exposure to nuclear radiation can have adverse effects on human health. As a result, end users often use radiation testers. Thus, the growing usage of radioactive substances across various sectors and the increasing need for improving the safety of workers are poised to provide a strong thrust to the growth of the radiation tester market.
The growing prevalence of chronic diseases such as cancer, increasing usage of radiotherapy and nuclear medicine in the healthcare industry, and rising awareness in radiation-prone environments are expected to create potential growth opportunities for radiation tester manufacturers during the forecast period.
| Attributes | Key Statistics |
|---|---|
| Radiation Tester Market Base Value (2022) | USD 1.8 billion |
| Radiation Tester Market Estimated Size (2023) | USD 1.9 billion |
| Radiation Tester Market Projected Valuation (2033) | USD 3.3 billion |
| Radiation Tester Market Anticipated Growth Rate (2023 to 2033) | 5.8% |
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Rising applications of radiation testers in medical research, homeland security & national defense, and nuclear power plants, advancements in radiation detection technologies, and growing safety concerns are some of the key factors igniting the sales of radiation testers.
Radiation testers have become highly sought-after radiation detection devices used across various industries. Further, these testers can detect even small traces of nuclear radiation. Hence, they play a key role in improving the safety of people working in radioactive industries.
Growing threats of nuclear disasters and the increasing need for improving the safety of workers are projected to continue to create demand for radiation testers during the forecast period.
The rise in the number of medical research projects and nuclear power plants worldwide along with the development of next-generation radiation detection technologies are expected to create potential growth opportunities for the radiation tester market.
The increasing incidence of nuclear material smuggling and the implementation of stringent government regulations are expected to drive the demand for radiation testers during the assessment period.
According to the International Atomic Energy Agency (IAEA), around 190 incidents of nuclear and other radioactive material being out of regulatory control, including some cases of trafficking and other criminal activities, were reported in 2019. As a result, various organizations like the American National Standards Institute have set the testing and evaluation protocol for mobile and transportable radiation monitors used for homeland security.
Some factors are impeding the growth of the radiation tester market despite a positive growth outlook. Some of these factors are the high cost of some radiation testing products and the poor adoption rate of radiation testers across underdeveloped economies.
Principal Consultant
As per FMI, North America is set to hold a notable share of the global radiation tester market through 2033 due to the factors such as:
Demand for radiation testers is particularly high across the United States due to increasing military expenditure and rising usage of radioactive materials across various industries, and the possibility and risks of exposure to high radiation levels.
The rising prevalence of cancer and the growing popularity of radiotherapy and nuclear medicine in the region is expected to create demand for radiation testers during the forecast period. Also, The radiation tester demand in the United States is expected to account for 65% market share of North America through 2033.
According to Future Market Insights, Europe is expected to provide significant growth opportunities to radiation tester manufacturers during the forecast period because of the reasons such as:
The rising usage of radioactive materials in the military & defense sector and the surge in nuclear material smuggling are intensifying the need for radiation testers in the European region.
The dramatic rise in the number of nuclear power plants and the growing need for improving the safety of people working in radiation-prone areas are assumed to bode well for the Europe radiation tester market. According to the European Nuclear Society, currently, there are about 173 nuclear power plant units in operation in Europe
The medical research segment occupies one of the significant market shares owing to the growing use of dosimeters and detectors in radiology, critical care, dental care, nuclear medicine, and treatments. Further, radiation of many types is utilized in medical detection and treatment.
All kinds are possibly hazardous, and intake must be carefully monitored to guarantee that the advantage to patients exceeds the hazards. X-ray diagnostics and treatments that use radioisotopes in oncology and other serious disorders account for the majority of the dosage obtained from man-made sources of radiation.
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Some of the leading key players operating in the radiation tester market include Thermo Fisher Scientific, Inc., Radiation Detection Company, Inc., Amtek, Inc., Mirion Technologies, Inc., Bar-Ray Products, Inc., Landauer Inc., Ludlum Measurements, Inc., Arrow-Tech, Inc., RAE Systems, Canberra Industries, Inc., and Atomtex SPE.
Key players in the market are focused on developing advanced radiation testers to meet end-user demands. Further, they have adopted growth strategies such as new product launches, collaborations, mergers, acquisitions, and partnerships to gain an upper hand in the global radiation tester market.
| Report Attributes | Details |
|---|---|
| Growth Rate | CAGR of 5.8% from 2023 to 2033 |
| Market Estimated Size (2023) | USD 1.9 billion |
| Projected Market Size (2033) | USD 3.3 billion |
| Base Year for Estimation | 2022 |
| Forecast Period | 2023 to 2033 |
| Historical Data Available for | 2018 to 2022 |
| Quantitative Units | Revenue in USD million and CAGR from 2023 to 2033 |
| Report Coverage | Revenue Forecast, Volume Forecast, Company Ranking, Competitive Landscape, Growth Factors, Trends, and Pricing Analysis |
| Segments Covered | Product Type, End Use, Region |
| Regions Covered |
North America; Latin America; Western Europe; Eastern Europe; South Asia & Pacific; East Asia; The Middle East & Africa (MEA) |
| Key Countries Profiled | The United States, Canada, Brazil, Mexico, Germany, The United Kingdom, France, Spain, Italy, Poland, Russia, Czech Republic, Romania, India, Bangladesh, Australia, New Zealand, China, Japan, South Korea, GCC Countries, South Africa, Israel |
| Key Companies Profiled | Thermo Fisher Scientific, Inc.; Radiation Detection Company, Inc.; Amtek, Inc.; Mirion Technologies, Inc.; Bar-Ray Products, Inc.; Landauer Inc.; Ludlum Measurements, Inc.; Arrow-Tech, Inc.; RAE Systems; Canberra Industries, Inc.; Atomtex SPE. |
| Customization | Available Upon Request |
North America is expected to account for 30% of the global market in 2023.
Sales are driven by factors such as increasing demand for radiation safety and the growing nuclear industry.
Handheld, benchtop, and portal monitors.
Competition from other types of radiation detection devices, such as Geiger counters.
Development of portable and affordable radiation testers, increasing use in non-nuclear applications.
1. Executive Summary 2. Market Overview 3. Market Background 4. Global Market Analysis 2018 to 2022 and Forecast, 2023 to 2033 5. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Product Type 5.1. Dosimeters 5.2. Area Process Monitors 5.3. Radioactive Material Monitors 5.4. Environment Radiation Monitors 5.5. Others 6. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By End Use 6.1. Medical Research 6.2. Defence & Homeland Security 6.3. Nuclear Power Plants 6.4. Manufacturing 6.5. Oil & Resource Exploration 6.6. Others 7. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Region 7.1. North America 7.2. Latin America 7.3. Western Europe 7.4. Eastern Europe 7.5. South Asia and Pacific 7.6. East Asia 7.7. Middle East and Africa 8. North America Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 9. Latin America Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 10. Western Europe Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 11. Eastern Europe Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 12. South Asia and Pacific Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 13. East Asia Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 14. Middle East and Africa Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 15. Key Countries Market Analysis 16. Market Structure Analysis 17. Competition Analysis 17.1. Thermo Fisher Scientific, Inc. 17.2. Radiation Detection Company, Inc. 17.3. Amtek, Inc. 17.4. Mirion Technologies, Inc. 17.5. Bar-Ray Products, Inc. 17.6. Landauer Inc. 17.7. Ludlum Measurements, Inc. 17.8. Arrow-Tech, Inc. 17.9. RAE Systems 17.10. Canberra Industries, Inc. 17.11. Atomtex SPE 18. Assumptions & Acronyms Used 19. Research Methodology
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Radiation Tester Market
