Radiation Detection, Monitoring, And Safety Market Size, Share & Trends Analysis Report By Product Type (Detection and Monitoring, Safety), By End-user Industry (Medical and Healthcare, Industrial, Homeland Security and Defense, Energy and Power, Other) and By Region(North America, Europe, APAC, Middle East and Africa, LATAM) Forecasts, 2022-2030

Market Overview

The global radiation detection, monitoring, and safety market size was valued at USD 3 billion in 2021. It is expected to reach USD 5 billion by 2030 at a CAGR of 7% during the forecast period (2022–2030). 

Radiation detection, monitoring, and safety equipment mitigate the detrimental effects of radiation. Radiation monitoring is performed to provide acceptably protected radiological workplace conditions to measure workplace circumstances and personal exposures. These machines are utilized all over the world in a variety of sectors. The Nuclear Security industry includes the Radiation Detection, Monitoring, and Safety Equipment Market. The radiation detection technology allows the user to monitor ionizing radiation from various sources to monitor nuclear security in diverse places across the world. It can be deployed to detect radioactive isotopes in small doses that are challenging to detect with human vision or automated devices.

Market Dynamics

Global market drivers

Growing of cancer and other chronic diseases

Radiation therapy uses very high-frequency radiation to kill tumors and cancer cells. Gamma rays and X-rays are the different types of radiation used for curing cancer. The radiation used in cancer is a high-energy type called ionizing radiation. Ionizing radiation is one of the primary risks affecting healthcare workers and patients worldwide. Thus, the hospital staff in radiology departments need instruments to measure the dose of radiation they absorb while working near medical equipment containing radioisotopes and ensure that the radioactive sources in the kit are not emitting hazardous radiation levels. This creates a need for deploying detectors and monitoring and safety devices to capture radiation doses in real-time.

Radiation therapy also treats many conditions, such as arteriovenous malformations, meningioma, and trigeminal neuralgia. The annual incidence of new cases of trigeminal neuralgia is approximately 12 in 100,000 people. The increasing incidence of chronic diseases requires better diagnostics. The developments in nuclear medicine and the increase in demand for radiation-based diagnostic processes are also expected to drive the market.

Growing use of drones for radiation monitoring

Drones have the advantage of reaching places where people are not permitted. Drone companies, such as Charlotte UAV and FlyCam UAV, partnered with radiation instrument manufacturers to develop robust systems capable of carrying out such operations. These drones can be used to detect any radiation leaks in nuclear power plants, enter places on fire, and send data to first responders about the kinds of hazards present.

 Belgium's Nuclear Research Centre (SCK-CEN) and the Belgian aviation corporation Sabca invented a technology that allows drones to perform radiological assessments in May 2021. SCK-CEN and Sabca received EUR 1 million in government support and are spending additional monies on the initiative on their own.

In February 2021, a new technology using drones was developed by the International Atomic Energy Agency (IAEA) for use by the authorities of the Fukushima Prefecture in Japan. This technology enables the remote monitoring of radiation measurements in areas where contamination is too high for people to enter. Moreover, the market is witnessing the development of new monitoring technology using drones.

Global market restraint

Lack of skilled radiation professionals

There is increasing demand for trained radiation workers in the radiation monitoring and safety market. Furthermore, there has been a shortage of personnel owing to the more significant risks associated with the detriment of radiation and the lack of proper skills related to the industry. The need to undergo detailed training to obtain the standard certifications from governments is driving human capital away from the market. This, coupled with a limited number of training centers due to a lack of qualified instructors, has complicated recruiting skilled personnel for the industry.

The scarcity of skilled labor leads to an increase in wages, which, in turn, adds to costs, thus cutting down profit margins. The vendors are not only struggling with increased wages, but they must also keep in account the risks involved while operating the equipment. For example, nuclear testing involves exposure to harmful radiation. Thus, the vendors must be mindful of the allowed levels of radiation exposure and make investments to minimize the damage caused.

Global market opportunities

Technological advancements in radiation detection

As recent advances and competencies in radiation detection, monitoring, and equipment for healthcare, homeland security & military, and nuclear power plants evolve, R&D in this industry is projected to increase its opportunities. Recent developments include:

According to an article published in Eureka, researchers at Los Alamos National Laboratory and Argonne National Laboratory invented a different X-ray detector working model that minimizes exposure to radiation and health-related risks while enhancing resolution in surveillance scanners and research activities Alert in April 2020.

Kromek (UK) introduced the D3S PRD Personal Radiation Detector in 2019. The sensor is made up of a palm-sized detector system that stores the gamma and neutron detecting modules and a robust mobile phone that contains the unit's accurate readings and analysis tools.

Regional Analysis

Based on region, the global radiation detection, monitoring, and safety market share are divided into North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa.

Which region accounts for most demand for market?

North America accounted for a share of 41% of the market studied in 2020. The region captures the largest share in the market. The North American market was valued at USD 1 billion in 2021. It is expected to reach USD 2 billion by 2030, registering a CAGR of 7%. The massive share of the market in North America is attributed to favorable government initiatives, a higher number of active nuclear power plants, the increasing prevalence of cancer, and the growing awareness about radiation safety, driving the market in this region. Moreover, major vendors in this industry are based in the United States also propelled the market's growth over the analysis period.

The Asia-Pacific is expected to have the fastest growth, valued at USD 1 billion in 2021. It is expected to reach USD 1.2 billion by 2030, registering a CAGR of 9%. Asia-Pacific is the fastest-growing region, owing to the increasing adoption of radiation across the end-user industries of the region. The Asia-Pacific market is predicted to witness significant growth in the global market. Based on revenue, owing to the rising focus on nuclear power for electricity generation to meet the growing energy demands and rising stringent regulations for human and environmental safety among the developing economies like China, Japan, and India. For instance, according to Exxon Mobil, it is estimated that in 2040, the nuclear energy demand in the Asia-Pacific region will amount to 22 quadrillion BTUs.

Furthermore, according to Japan Atomic Industrial Forum, the number of operable nuclear power plants in 2021 accounts for nine, including four from Kansai Electric Power Co. Inc. and Kyushu Electric Power Co. Inc., and one from Shikoku Electric Power Co. Inc. Such growth witnessed in each country indicates the need for radiation detection and monitoring systems in the region.

Segmental Analysis

The global radiation monitoring, detection, and safety market share are divided by product, end-user, and region.

Based on product, the global radiation detection, monitoring, and safety market is divided into detection and monitoring; and safety. The detection and monitoring segment was valued at USD 2 million in 2021 and is expected to reach USD 5 billion by 2030 over the analysis period with a CAGR of 7%. The detection and monitoring segment of the market mainly comprises personal dosimeters, environmental radiation monitors, area process monitors, monitors, surface contamination monitors, and radioactive material monitors. Detection and monitoring devices account for a larger market share, owing to their increasing adoption in the healthcare, energy, and power industries. Other industries that use radioactive materials also contribute to the growing market. Moreover, detection and monitoring devices are used at security kiosks in airports and other public places.

By end-user industry, the global radiation detection, monitoring, and safety market is divided into medical and healthcare, energy and power, industrial, homeland security and defense, and others. Medical and healthcare were valued at USD 1 million in 2021 and are expected to reach USD 2 million by 2030, registering a CAGR of 5%. The medical and healthcare industry contributes to one of the most significant market shares owing to the increasing implementation of dosimeters and detectors in radiology, emergency care, dentistry, nuclear medicine, and therapy applications. Various forms of radiation are being used in medical diagnostics and treatment. However, all kinds are potentially harmful, and exposure must be carefully handled to that the benefit to patients outweighs the risks from exposure.

Impact of covid-19

With multiple places experiencing varying degrees of COVID-19 effect, certain components of radiation shielding are in high demand. One of them is the emphasis on power plants in order to meet rising electricity demand. Hospitals that require diagnostic and therapeutic procedures have specified their needs for radiation monitoring systems. Similarly, there is still a high demand for radioactive medicine to be manufactured and properly conveyed to pharmacies.

Radioactive source gauges, thus, have been used for quality assurance and quality control through multiple industrial procedures. Industrial radiographers and engineers were needed to test the integrity of structures at production plants and were unaffected by COVID-19. However, the time frame required to work with or around radiation-emitting devices safely was necessary. This timeframe caused a halt in the adoption of detection/monitoring devices.

Market Recovery Timeline

The International Atomic Energy Agency initiated a survey in 123 countries. The survey results highlighted the potential safety risks that emerged along with the COVID-19 pandemic and the ways to deal with them. While 85% of all the studied countries reported a reduction in regulatory activities in some cases due to access restrictions to nuclear facilities or budget cuts, they also reported that mechanisms are kept in place to ensure that safety is not compromised. Overall, the market is expected to witness some growth during the post-pandemic period due to the rising application of low-dose radioactive therapy.

Recent Developments

• In January 2021, Mirion Technologies Inc. acquired Sun Nuclear Corporation, a prominent player in Radiation Oncology Quality Assurance, delivering patient safety solutions for diagnostic imaging and radiation therapy centers around the world. Together with Sun Nuclear, Mirion will continue creating and developing new offerings in the medical space with patient safety at the forefront.
• Further, in April 2021, Scienta Scientific acquired Envinet GmbH, a prominent company monitoring radiation protection networks with installations in over 70 countries. Scienta's sensor systems and Envinet will create a new application area, environmental protection, within Scienta Scientific, under the joint brand, Scienta Envinet. The strengths of area monitoring from Envinet and the early warning systems by Scienta Sensor Systems may create a unique competitive position to support customers with complete radiation protection solutions.