Japan Radiation Detection Devices and Services Market Size, Share Industry Growth Prospects 2022-2027

Sharik Khan

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Japan Radiation Detection Devices and Services Market Size, Share Industry Growth Prospects 2022-2027

The market is expected to grow at a CAGR of 2.6% over the forecast period.

The Japan Radiation Detection Devices and Services Market held a market value of US$ 91 Million in 2021 and is forecasted to reach US$ 110.7 Million by the year 2027. The market is expected to grow at a CAGR of 2.6% over the forecast period. The market volume in 2020 was around 179 thousand units.

Radiation detection devices have the ability for analyzing the energy spectrum of radiation for identification of a specific radioactive material that is emitting the radiation. They are also used for surveying instruments for locating radioactive material. The market is anticipated to be driven by the growing security threats coupled with increasing government spending. Furthermore, safety concerns post the Fukushima disaster is also anticipated to boost the market growth.

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However, advancement in technology for development of various alternatives is estimated to hinder the market growth. Also, shortage of nuclear power workforce is also expected to negatively impact the market growth. Moreover, high cost of lead required in production if radiation accessories is also expected to restrain the market growth.

Growth Influencers:

Increasing safety concerns post the Fukushima disaster

The Fukushima disaster occurred in April 2011 as a 15-metre high Tsunami disabled the cooling and power supply of 3 reactors in Fukushima Daiichi. This caused a nuclear accident. This major disaster raised various health concerns amongst the people and hence increased the adoption of radiation detection devices and services, hence fueling the market growth during the forecast period.

Segments Overview:

The Japan Radiation Detection Devices and Services market is classified into product, detection type, and end user.

By Product

Radiation monitoring post
RI monitors
Radiation detector and analyzers
Portable radiation survey meters
Others

The portable radiation survey meters segment is anticipated to hold the largest market share of about 30% owing to owing to the growing technological advancements in this segment. The radiation monitoring post segment is expected witness a growth rate of 3.9% during the forecast period.

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By Detection Type

Gas-filled Detectors
Geiger-Muller Counters
Ionization Chambers
Proportional Counters
Scintillators
Inorganic Scintillators
Organic Scintillators
Solid-state Detectors
Semiconductor Detectors
Diamond Detectors

The gas-filled detectors segment is expected to account for the largest market share of around 55% owing to its wide application in the medical imaging field. Within this segment, the ionization chambers is anticipated to surpass a market volume of around 25 thousand units by 2025 and the proportional counters segment is estimated to grow at a volume CAGR of about 3.5%. The solid-state detectors segment is expected to hold a market size of around USD 19.3 million.

By End User

Healthcare
Homeland Security and Defense
Nuclear Power Plants
Others

The healthcare segment is expected to hold the largest value share owing to the growing radiation safety awareness. The homeland security and defense is anticipated to hold the fastest growing share owing to increasing application of radiation detection devices in this segment.

Competitive Landscape:

Key players operating in the Japan Radiation Detection Devices and Services market include Fuji Electric, Horiba, Hamamatsu Photonics, Azbil Corporation, CHIYODA TECHNOL CORPORATION, EIWA Corporation, Mitsubishi Electric group, Hitachi Ltd (Aloka), Perkinelmer, Canberra, and OHYO KOKEN KOGYO Co., Ltd, among others.

The approximate market share of the seven major players is close to 80%. These market players are involved in partnerships, mergers & acquisitions, new product launches, to strengthen their market presence. For instance, in August 2021, Mirion Technologies collaborated with GS Acquisition Holdings Corp II for delivering the first shipment of 880 Accurad PRD to the Department of Homeland Security’s (DHS) Countering Weapons of Mass Destruction (CWMD). The contract with DHS is worth USD 121 million.

The Japan Radiation Detection Devices and Services market report provides insights on the below pointers:

Market Penetration: Provides comprehensive information on the market offered by the prominent players
Market Development: The report offers detailed information about lucrative emerging markets and analyzes penetration across mature segments of the markets
Market Diversification: Provides in-depth information about untapped geographies, recent developments, and investments
Competitive Landscape Assessment: Mergers & acquisitions, certifications, product launches in the Japan Radiation Detection Devices and Services market have been provided in this research report. In addition, the report also emphasizes the SWOT analysis of the leading players.
Product Development & Innovation: The report provides intelligent insights on future technologies, R&D activities, and breakthrough product developments

The Japan Radiation Detection Devices and Services market report answers questions such as:

What is the market size and forecast of the Japan Radiation Detection Devices and Services Market?
What are the inhibiting factors and impact of COVID-19 on the Japan Radiation Detection Devices and Services Market during the assessment period?
Which are the products/segments/applications/areas to invest in over the assessment period in the Japan Radiation Detection Devices and Services Market?
What is the competitive strategic window for opportunities in the Japan Radiation Detection Devices and Services Market?
What are the technology trends and regulatory frameworks in the Japan Radiation Detection Devices and Services Market?
What is the market share of the leading players in the Japan Radiation Detection Devices and Services Market?
What modes and strategic moves are considered favorable for entering the Japan Radiation Detection Devices and Services Market?

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