(PharmaNewsWire.Com, May 30, 2020 ) The global radiation detection market is projected to reach USD 2.26 Billion by 2022 from USD 1.71 Billion in 2017, at a CAGR of 5.7%. The radiation detection, monitoring, and safety market is well established with companies such as Thermo Fischer Scientific (US), Mirion Technologies (US), and LANDAUER (US) holding a share of approximately 50–55%.
In 2016, Thermo Fisher Scientific (US) accounted for the largest share of the radiation detection, monitoring, and safety market. The company offers a wide range of portable radiation detectors, personal radiation dosimeters and monitoring devices, integrated radiation monitoring systems, radiation contamination and environmental monitoring systems, neutron flux, neutron generators, and radiation detection portals & monitors. In 2016, the Analytical Instrument segment (offering radiation detection, monitoring, and safety devices) generated revenue of USD 3,472.1 million. The company invests a significant amount of its revenue in R&D activities to increase its depth of capabilities in technologies, software, and services. It invested USD 754.8 million, USD 692.3 million, and USD 691.1 million in R&D activities in 2016, 2015, and 2014, respectively. In 2016, the company launched its SPRD-H with CeBr high-resolution detector. Similarly, in 2015, it also launched the RadHalo Rapid Deployment Probe (RDP) and Fixed Monitor (FM).
Mirion Technologies (US) is one of the key players in the global radiation detection, monitoring, and safety market. The company provides personnel exposure monitoring and access control systems, radiation detectors, contamination and clearance monitors, wireless monitoring devices, advanced detection and isotope identification systems, and radiation area monitoring systems. Mirion manufactures and distributes its products in North America, Europe, and Asia. The firm has 13 production facilities in France, Germany, the UK, Finland, China, Canada, and the US. The company strategically focuses on strengthening its position in the radiation detection, monitoring, and safety market through the mode of acquisitions. In this regard, in July 2016, the company acquired Canberra Industries, Inc. (US). This acquisition helped the company to become a premier supplier for the defense, medical, and nuclear industries.
Some of the other players competing in this market are LANDAUER (US), Fuji Electric (Japan), Ludlum Measurement (US), Arktis Radiation Detection (Switzerland), Radiation Detection Company (US), AMETEK (US), Ultra Electronics (UK), Arrow-Tec (US), and Polimaster (Austria).
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