The North America Nano Radiation Sensors Market would witness market growth of 6.0% CAGR during the forecast period (2023-2029).
Nano radiation sensors operate at a scale similar to natural biological processes, they can be functionalized with chemical and biological molecules and recognize events that result in observable physical changes, improving their specificity. Increasing sensitivity brought on by nanoparticles' high surface-to-volume ratio and novel physical characteristics will further drive market expansion. As it conserves energy and makes life more convenient and easy, it represents a significant advancement in the nano radiation sensors market.
Any economy must save energy in order to grow, so governments are introducing a number of energy-saving policies. In addition, the market environment is quite competitive due to technological improvements. As a result, there have been significant R&D investments made in this area, which has helped the market grow.
The United States produces the most nuclear energy globally, with 93 nuclear power reactors in operation as of 2021. In actuality, 20% of the total electricity output as of 2017 came from the nuclear power generation sector. Twenty-two nuclear power reactors are currently housed in five sites across three provinces. In Canada, nuclear energy generates around 15% of the nation's electricity. The CNSC evaluates license applications to ensure that safety precautions are scientifically and technically sound, that all criteria are met, and that the proper safety systems are in place to safeguard people and the environment. Hence, the high utilization of nano radiation sensors due to their usage in healthcare and to ensure safety in power plants is aiding the market growth in the region.
The US market dominated the North America Nano Radiation Sensors Market by Country in 2022, and would continue to be a dominant market till 2029; thereby, achieving a market value of $107,549.5 Thousands by 2029. The Canada market is poised to grow at a CAGR of 8.4% during (2023 - 2029). Additionally, The Mexico market would witness a CAGR of 7.5% during (2023 - 2029).
Based on Application, the market is segmented into Healthcare, Consumer Electronics, Oil & Gas, Security & Defense, Power Plants and Others. Based on Type, the market is segmented into Scintillation Detectors, Gas-filled Detectors, and Solid-state Detectors. Based on countries, the market is segmented into U.S., Mexico, Canada, and Rest of North America.
Free Valuable Insights: The Worldwide Nano Radiation Sensors Market is Projected to reach USD 403.4 Million by 2029, at a CAGR of 6.7%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Mirion Technologies, Inc., Fortive Corporation (Fluke Corporation), Hamamatsu Photonics K.K., Thermo Fisher Scientific, Inc., Baker Hughes Company, Canon Electron Tubes & Devices Co., Ltd. (Canon, Inc.), Kromek Group plc, PCE Instruments, First Sensor AG (TE Connectivity Ltd.), and NIHON KESSHO KOGAKU CO., LTD. (MITSUI MINING & SMELTING CO., LTD.).
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