About Radiation Processing
The use of high-energy ionising radiation to cause chemical and biological changes in irradiated systems is known as radiation processing. The most often utilised ionising radiation for synthesis, polymer modification, and sterilisation of medical equipment is high energy electron (EB) under 10 keV and gamma irradiation. Implants, topical dressings, injectable formulations, drug delivery devices, diagnostic tests, and immobilised enzyme are some of the biomedical and pharmacological applications of these polymers. Polymers with specified properties can be created via radiation crosslinking or degradation processes. Radiation processing has several advantages, including the absence of any chemical residues (since no chemical additives are required to initiate the reactions), the ability to be used at any temperature, the ability to be limited to the surface only, and in some cases, the ability to combine synthesis/modification of materials with sterilisation.
Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
The global market is highly competitive and consists of a limited number of providers who compete with each other. The intense competition, changing consumer spending patterns, demographic trends, and frequent changes in consumer preferences pose significant opportunities for market growth. Analyst at AMA Research estimates that United States Manufacturers will contribute the maximum growth to Global Radiation Processing market throughout the forecasted period. Established and emerging Manufacturers should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
IBA (United States), Wasik Associates (United States), Jiangsu Dasheng Electron Accelerator (China), Iotdron Industries, Inc. (Canada), Vivirad S.A. (France), Sterigenics U.S., LLC (United States), STERIS, plc. (United States), EL Point (Sweden) and Agrosurg Irradiatiors (India) Pvt ltd (India) are some of the key players that are part of study coverage.
Segmentation Overview
AMA Research has segmented the market of Global Radiation Processing market by Type (Radioisotope, Electronic Accelerator and Others), Application (Polymers, Nanotechnology, Sterilization, Food Irradiation and Pollution Control) and Region.
On the basis of geography, the market of Radiation Processing has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). If we see Market by End Use, the sub-segment i.e. Medical Industry will boost the Radiation Processing market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Scale, the sub-segment i.e. Small And Medium Enterprises (SMEs) will boost the Radiation Processing market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Emergence of Advance and Efficient Radiation Processing Procedures
Market Growth Drivers:
Rising Applications across Different Sectors and High Investments in Radiation Processing
Challenges:
Market Penetration across New Regions and High Initial Investment
Restraints:
Technological Limitations and Health Hazard Concerns
Opportunities:
Increasing Demand Across New Regions and Growing Implementation Across Medical Industry
In April 2023, SHINE Technologies, LLC, a next-generation fusion technology company, announced a new service providing state-of-the-art radiation effects testing. SHINE plans to provide the service in a dedicated facility on the company's Janesville, Wisconsin campus, and will use high-energy fusion neutrons to test and derisk its aerospace and defense customers' mission-critical components that are susceptible to radiation-harsh environments.
The Center for Devices and Radiological Health (CDRH) of the United States (U.S.) Food and Drug Administration (FDA) is in charge of regulating radiation-emitting electronic products. The CDRH's mission is to protect the public from harmful and unnecessary radiation exposure from electronic products. CDRH and state regulatory agencies are in charge of most electronic product safety regulations. The CDRH regulates product manufacture while the states regulate product use.
Key Target Audience
Radiation Processing Products Manufactures, New Entrants and Investors, Venture Capitalists, Government Bodies, Corporate Entities, Government and Private Research Organizations and Others
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.