Transparency Market Research delivers key insights on the global nano radiation sensors market. In terms of revenue, the global nano radiation sensors market is estimated to expand at a CAGR of 4.2% during the forecast period, owing to numerous factors, regarding which TMR offers thorough insights and forecasts in its report on the global nano radiation sensors market.
The global nano radiation sensors market is broadly affected by several factors, including rise in the demand from the healthcare industry.
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Nano radiation sensors are radiation detector instruments that sense and measure radiation emissions or levels of radiation produced by a source. Radiation can be thought of as energy that is released in the form of either ray or as high-speed particles. In the classic model of atomic structure, atoms comprise a number of particles, such as protons and neutrons that occupy the nucleus of the atom, and electrons that occupy the outer shells of the atom. Atoms may decay and release energy in the form of radiation, as they strive to move from an unstable state to a more stable one.
Increase in demand for nano radiation detectors and dosimeters in radiology, emergency care, dentistry, nuclear medicine, and therapy purposes boost the global nano radiation sensors market. Typical applications include high energy physics, medical imaging, nuclear medicine, and analytical medical instruments enhanced meters, which are utilized to ensure that patients as well as medical personnel are exposed to radioactive emission at optimal levels, within the permissible limits prescribed by respective authorities.
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Moreover, these are particularly required in medical procedures, such as angiography, fluoroscopy, computed tomography (CT), and radiographic imaging that employ the more harmful ionizing radioactive rays to perform clinical diagnosis and monitoring. Rise in these interventional applications is expected to propel the demand for nano radiation technology during the forecast period. Furthermore, ionizing radiation has sufficient energy to affect the atoms in living cells and consequently, damage their genetic material (DNA). Fortunately, the cells in our bodies are extremely efficient at repairing this damage. However, if the damage is not repaired correctly, a cell may die or eventually become cancerous to overcome this. Moreover, nano radiation detectors are utilized in cancer treatment to detect harmful nano radiations. Additionally, increase in usage of nuclear medicine & radiation therapy coupled with a rise in incidence of cancers presently propels the market. Thus, a consistent rise in the demand from the healthcare industry is estimated to boost the nano radiation sensors market.
The nano radiation sensors market in North America is expected to expand during the forecast period, owing to the presence of key market players, technological advancements, and countries, such as the U.S. and Canada in North America, are offering ample and lucrative opportunities for manufacturers on a long-term basis, owing to the expansion of the rising healthcare sector in the region. Rise in the number of nuclear power plants in the region is also projected to boost the nano radiation sensors market during the forecast period. For instance, the U.S. is the world’s largest producer of nuclear energy with 98 operating nuclear power reactors as of October 2018. It is estimated that the country accounts for approximately 30% of global nuclear power generation capacity. In fact, as of 2017, the nuclear power generation segment was responsible for 20% of the total electricity output.
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The nano radiation sensors market in North America is projected to expand further due to significant rise in the demand from healthcare, energy, and power industries. The North America market is estimated to reach a value of US$ 103.55 Mn by 2031. The nano radiation sensors market in Asia Pacific is likely to expand at a notable CAGR of 5.1% during the forecast period, owing to the presence of considerable number of players manufacturing nano radiation sensors in the region.
Key players operating in the global nano radiation sensors market are Hamamatsu Photonics K.K., First Sensor AG, Fluke, Kromek Group plc., Nihon Kessho Kogaku Co. Ltd., and Thermo Fisher Scientific Inc.
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