Global Radionuclide Identification Devices Market Size (2023 - 2030)

The Global Radionuclide Identification Devices Market was estimated to be worth USD 165.05 million in 2022 and is projected to reach a value of USD 273.16 million by 2030, growing at a steady CAGR of 6.5% during the outlook period 2023-2030.

A compact, portable gamma-ray spectrometer called a radionuclide identification device (RID) is used to locate and identify radioactive items. Hand-held gamma-ray radionuclide identification is offered by a wide range of businesses in various configurations. These devices are appropriate for first-line responders in critical Homeland Security, Environmental Monitoring, and Radiological Mapping applications since they are portable. These tools have also proven beneficial in a variety of unusual applications, including geological surveys, as well as in medical and industrial settings. The requirement for quick, precise isotope identification has increased over the past 20 years, and RIIDs have adapted to meet this need. To be readily carried and provide accurate readings in a variety of settings, these portable devices need room temperature detectors.

Global Radionuclide Identification Devices Market Drivers:

Effective Radionuclide Identification Devices (RID) are becoming more and more in demand as nuclear terrorism becomes a greater threat:

The need for Radionuclide Identification Devices (RID) in homeland security applications is mostly driven by the increased risk of nuclear terrorism. The spread of nuclear weapons and materials, as well as the growth of terrorist groups looking to get and use them, have all contributed to an increase in the threat of nuclear terrorism in recent years. To find and identify radioactive materials that may be utilized in a terrorist attack, radionuclide identification devices are used in homeland security applications including border security, cargo screening, and emergency response. These tools are necessary for both identifying and responding to possible radiological threats as well as for preventing the smuggling of radioactive materials over international boundaries.

To assure safety and security, there is a rising need for Radionuclide Identification Devices (RID) in several industries:

The need for Radionuclide Identification Devices (RID) for environmental monitoring and worker safety is being driven by the growing usage of radioactive materials in a variety of industries, including healthcare, oil & gas, and mining. These companies employ radionuclide identification devices to keep an eye on worker radiation exposure levels and to make sure the environment is free of radioactive contamination. These tools are crucial for safeguarding employees from the negative consequences of radiation exposure and for maintaining a livable workplace. Radionuclide identification devices are used in healthcare for radiation treatment and medical imaging, in the oil and gas industry for environmental monitoring, and in the mining industry for environmental and worker safety.

Global Radionuclide Identification Devices Market Challenges:

The development of Radionuclide Identification Devices (RID) has been hampered by technical issues:

Technical restrictions on Radionuclide Identification Devices (RID) may reduce their usefulness in some applications. radionuclide identification devices have several drawbacks, including a small detection window and low sensitivity. The kind and quantity of radioactive material present can have an impact on the performance of radionuclide identification devices, which are intended to detect and identify certain types of radioactive materials. The accuracy and dependability of radionuclide identification devices can also be impacted by environmental variables such as temperature, humidity, and background radiation radionuclide identification devices must also undergo routine calibration and maintenance, which may be time-consuming and expensive, to maintain their accuracy and dependability. The size and mobility of radionuclide identification devices are further technological limitations. Some radionuclide identification devices are bulky and big, which might prevent them from being used in some situations where mobility is crucial. However, there are other radionuclide identification devices that may be used in the field that are portable and handheld.

COVID-19 Impact on Global Radionuclide Identification Devices Market:

The global market for radionuclide identification devices (RIDs) has been impacted by the COVID-19 epidemic in a variety of ways. The epidemic has raised the demand for radionuclide identification devices s in medical applications such as radiation treatment and imaging. Due to the pandemic, there have been supply chain problems and a decline in the need for radionuclide identification devices in other fields including environmental monitoring and national security. Due to the requirement for radiation treatment and medical imaging for COVID-19 patients, the pandemic has raised the demand for radionuclide identification devices in healthcare applications. As a result, the demand for radionuclide identification devices in hospitals and other healthcare institutions has surged, somewhat offsetting the pandemic's negative effects on the radionuclide identification devices market. radionuclide identification device deliveries have been delayed as a result of travel bans and lockdowns implemented by governments worldwide, and demand for these devices has decreased in several sectors and applications.

Global Radionuclide Identification Devices Market Recent developments:

In November 2022: The debut of Teledyne FLIR Defense's new MUV R430 drone sensor payload, which can remotely detect and identify radiation sources and radioactive dangers in a variety of application scenarios, was revealed today at CBRNE Convergence.

RADIONUCLIDE IDENTIFICATION DEVICES MARKET REPORT COVERAGE:

Global Radionuclide Identification Devices Market Segmentation: By Application

• Homeland security

• Healthcare

• Environmental monitoring

• Nuclear power plants

• Mining

• Oil and gas

The healthcare sector is anticipated to have the quickest rate of growth in the radionuclide identification devices market due to the rising incidence of cancer and other ailments that need radiation therapy and medical imaging. Homeland security is predicted to be the most prominent radionuclide identification devices market category, driven by the growing nuclear terrorism threat and the demand for efficient radiation detection and identification systems in public spaces and vital infrastructure. Overall, the radionuclide identification devices market's segmentation offers insights into the particular applications and sectors driving demand for radionuclide identification devices and may assist producers and distributors in more effectively focusing on the markets for their goods and services.

Global Radionuclide Identification Devices Market Segmentation: By Type

• Handheld devices

• Portable devices

• Benchtop devices

Handheld devices are predicted to be the radionuclide identification devices market category with the quickest rate of growth because of the rising need for portable and user-friendly radionuclide identification devices across a range of sectors and applications. The portable devices category is anticipated to be the most popular one in the radionuclide identification devices market because of the rising demand for portable radionuclide identification devices in industries like oil and gas exploration, mining, and nuclear power plants. The segmentation of the radionuclide identification devices market by type can help producers and distributors more effectively target their goods and services by revealing the individual radionuclide identification device types that are in demand across a range of sectors and applications.

Global Radionuclide Identification Devices Market Segmentation: By Region

• North America

• Europe

• Asia Pacific

• Latin America

• Middle East and Africa

The Asia Pacific region is predicted to have the quickest rate of radionuclide identification devices market growth due to the area's concentration of key radionuclide identification devices producers and suppliers as well as the rising demand for radionuclide identification devices across a range of sectors and applications. Due to the presence of significant radionuclide identification devices suppliers and manufacturers in the region, as well as the rising demand for radionuclide identification devices across a range of sectors and applications, the North American region is predicted to hold the largest share of the global radionuclide identification devices market.

Key Players:

1. Canberra Industries

2. Mirion Technologies

3. Thermo Fisher Scientific

4. Bertin Instruments

5. FLIR Systems

6. Ludlum Measurements

7. Ametek

8. Arrow-Tech

9. Radiation Detection Company

10. Polimaster