Global Radiation Detection and Monitoring Equipment Market to See CAGR of 22% by 2018-2022

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The global radiation detection and monitoring equipment market 2018-2022 is expected to post a CAGR of close to 6% during the forecast period, according to the latest market research report by Technavio.

A key factor driving the growth of the market is the demand from healthcare facilities. There is an increase in demand for radiation detection and monitoring equipment in healthcare facilities owing to the rising use of radiation-based equipment in the diagnosis and treatment of various health problems.

This market research report on the global radiation detection and monitoring equipment market 2018-2022 also provides an analysis of the most important trends expected to impact the market outlook during the forecast period. Technavio classifies an emerging trend as a major factor that has the potential to significantly impact the market and contribute to its growth or decline.

In this report, Technavio highlights the rising technological advances as one of the key emerging trends in the global radiation detection and monitoring equipment market:

Global Radiation Detection and Monitoring Equipment Market: Rising Technological Advances

The technology used in radiation detection and monitoring devices is continuously evolving because of enhancements in the range and readout methods as well as additional features such as global positioning systems (GPS), networking options, and storage of the accumulated dose.

“Multifunction dosimeters that combine the capability to measure accumulated dose with features used in interdiction missions, such as the high sensitivity and fast response time of personal radiation detector are also being developed. Some new technologies use the complementary metal oxide semiconductor contained in mobile phone cameras for radiation detection and are being commercialized as mobile phone applications,” says a senior analyst at Technavio.

Global Radiation Detection and Monitoring Equipment Market: Segmentation Analysis

This market research report segments the global radiation detection and monitoring equipment market by end-user (dosimeters, area monitors, survey meters, and others) and geographical regions (APAC, EMEA, and the Americas).

The Americas led the market in 2017 with a market share of close to 44%, followed by APAC and EMEA respectively. The region is expected to continue to dominate the market during the forecast period.