America dominates with major growth in the Neutron Detection Market
America leads in Neutron Detection Market growing at a CAGR of 10.02% to reach a value of $439.59 million by 2023. U.S., is the leading market to grow at a CAGR of 8.65% and a maximum holder among all the regions. According to analysis, U.S is the most prominent for development in medical sector as well as in the cancer treatment equipment. Europe is the leading region to grow at a CAGR of 8.94% to reach a value of $291.30 million by 2023. Germany is the leading region of Europe to grow at a CAGR of 7.92% during the forecast period. Germany is completely opposed for nuclear power with virtually no support fir building new nuclear points. Asia-Pacific Market is witnessed to grow at a highest of CAGR of 16.26%, where Japan is growing its focus on neutron detection equipment for preventing catastrophic accidents, and to drive the power generation nuclear detection market in the future.
Selected Technology and Application Analysis done in the full Report:
Increasing applications of neutron detector have been growing in the medical as well as the aerospace industries along with research and development. On the basis of this system type is distributed into LLAND, fast detector, scintillator, semiconductor detector, gas proportional, RIID and others. Among all the type Portal Monitor is the leading system type in the market, which is seen to grow at a CAGR of 11.46% to reach value of $182.15 million by 2023. The market is expected to drive due to Gamma detector provides with the detection of ionizing radiation and neutron provides detection of special nuclear materials. Followed by Geiger Counter, which is expected to grow at a CAGR of 9.90% to reach a value of $178.03 million by 2023. The Geiger counter type is used for detecting and measuring alpha, beta and gamma radiation. The next leading segment is Dosimeter expected to grow at a CAGR of 10.84% to reach a value of $177.86 million by 2023. This is a stationery device for the detection of thermal, epithermal and fast neutrons. Looking forward in application segment, safety and monitoring is expected to influence over the market during the entire forecast period with a CAGR of 9.29%b by 2023. Medical Diagnostic is the second leading application in the market. Specialty and Custom application market will be the largest growing market at a CAGR of 14.98% during the forecast period, due to increase in demand of specialty detectors from the military and mining sectors.
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Excerpts on Market Growth Factors:
Increase in terrorist activities has led the market to adopt radar detector equipment in airports, dockyards, international train stations and so on. Installation of various types of screening equipment is gradually increasing to detect nuclear treats and take preventive countermeasures.
The research and development activities across major universities in the quantum physics to explore the possibilities at the atomic level, are growing with promising investments. This analyze to drive the neutron detection in the future.
Advancement in medical sector for cancer treatment along with increasing disposable income of middle class population is driving the market of chemotherapy. The neutron detection market is thus comprehend to witness a prominent growth as these are an integral part of radiation monitoring therapy equipment.
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Key players of the Neutron Detection Market:
The key players of the market includes Leidos Holdings, Inc., Mirion Technologies, Arktis Radiation Detectors Ltd., and LND, Inc. These current leading companies account a share of 41.30% of the global neutron detection market value in 2017. Leidos Holdings, Inc., delivered a product named with Exploranium® AT980 Radiation Portal Monitor (RPM). Mirion Technologies is known for its product DMC 3000 Neutron Module. Arktis Radiation Detectors Ltd. has a product called Mobile Van-mounted Rad/Nuc Detection System. The collaboration of the companies will play a vital role in increasing the nature and productivity of the products in the coming future.
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