Japan Radiation Detection Devices and Services Market is projected to witness a rise in its revenue from US$ 91 Mn in 2021 to US$ 110.7 Mn by the end of 2027. The market is registering a CAGR of 3.3% over the forecast period 2022-2027. In terms of volume, the market is witnessing a CAGR of 2.6% over the projection period. A Radiation Detector is an instrument used to detect or identify high-energy particles, such as those produced by nuclear decay, cosmic radiation, or reactions in a particle accelerator. Modern detectors use calorimeters to measure the energy of the detected radiation. They may also be used to measure other attributes such as momentum, spin, and charge of the particles. One of the most important factors for those people who work with or around radiation is an awareness of the levels of radiation around them. This is primarily accomplished by using radiation detectors of varying types.
The market is majorly driven by factors such as increasing security threats, growing government spending, and increasing safety concerns post the Fukushima disaster. Since the early days of radiation testing by Roentgen and Becquerel, scientists have sought ways to measure and observe the radiation given off by the materials they worked with. Henri Becquerel used a method to demonstrate the existence of radiation in 1896. Since then, the use of radiation detectors is significant to measure radiation exposure to an individual’s body. According to the World Energy Outlook (WEO) report, in 2021, the IEA's 'Stated Policies Scenario' sees installed nuclear capacity growth of over 26% from 2020 to 2050 (reaching about 525 GWe). Further, the use of radioactive materials by terrorists has raised serious concerns. The Fukushima Dai-Ichi accident in 2011 has affected many aspects of nuclear society globally. In the defense sector, the common sources of radiation exposure to personnel include nuclear ships and submarines; depleted uranium-made weapons and military equipment; handling, detonation, and maintenance of nuclear weapons; and during nuclear waste transport and storage. Such events may cause a significant number of personnel to be exposed to harmful levels of radiation, the radiation detector devices and services are majorly used in the defense sector to monitor the radiation exposure and limit the impact of radiation on personnel health. However, the challenges posed by alternative energy sources such as hydrogen, solar power, natural gas, and thorium are a big concern for the radiation detection market.
Key Insights of the Report:
Key Takeaways from the Japan Radiation Detection Devices and Services Market Report:
Impact of COVID-19
Medical radiation detection can be used for prevention of excessive radiation exposure due to imaging equipment when suffering from COVID-19. Healthcare entities are increasingly leveraging medical imaging and imaging analytics to improve COVID-19 detection and prevention. However, the restrictions imposed due the coronavirus pandemic somewhat impacted the supply chain of the global radiation detection market. Travel restriction and shortages of raw materials, including plastics, metals, glass, and electronics, hampered production. The nuclear power industry is currently witnessing a truly challenging environment, however, a high demand for nuclear energy is projected in the coming years due to rising energy demands across the globe.
Competitive Landscape:
The key players in the Japan Radiation Detection Devices and Services Market are Fuji Electric, Hitachi Ltd (Aloka), Horiba, Mitsubishi Electric group, Perkinelmer, Sangyo Kagaku Co., Ltd., and Hamamatsu Photonics among others. Through extensive research, it is found that big players have adopted various competitive strategies such as merger & acquisition in order to have a grip in the stabilized Japanese market. Furthermore, leading companies are expanding their geographical boundaries by acquiring small brands and domestic companies.
Segmentation Overview:
The following are the different segments of the Japan Radiation Detection Devices and Services Market:
By Product segment of the Japan Radiation Detection Devices and Services Market is sub-segmented into:
By End User segment of the Japan Radiation Detection Devices and Services Market is sub-segmented into:
By Detection Type segment of the Japan Radiation Detection Devices and Services Market is sub-segmented into:
A radiation Detector is an instrument used to detect or identify high-energy particles, such as those produced by nuclear decay, cosmic radiation, or reactions in a particle accelerator.
The Japan Radiation Detection Devices and Services Market was valued at US$ 91 Mn in 2021.
The Japan Radiation Detection Devices and Services Market is estimated to expand at a CAGR of 3.3% over the forecast period.
The market is majorly driven by factors such as increasing security threats, growing government spending, and increasing safety concerns post the Fukushima disaster.
Growing use of nuclear energy alternatives such as renewable energy is challenging market growth.
The various segments considered to analyze the market are based on product type, detection type, and end-users.
Portable radiation survey meters dominates the market in 2021.
Gas-filled Detectors holds the highest share in the Japan Radiation Detection Devices and Services Market in 2021.
Healthcare industry is the highest end-user in the Japan Radiation Detection Devices and Services Market.
The key players in the Japan Radiation Detection Devices and Services Market are Fuji Electric, Mitsubishi Electric group, Perkinelmer, and Hamamatsu Photonics among others.
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