Gamma Counter Market Report Overview
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The global gamma counter market size expanded rapidly in 2022, as per our research, the market is expected to generate substantial revenue by 2031, exhibiting a robust CAGR during the forecast period.
The global COVID-19 pandemic has been unprecedented and staggering, with the gamma counter market experiencing higher-than-anticipated/lower-than-anticipated demand across all regions compared to pre-pandemic levels. The sudden rise in CAGR is attributable to the market's growth and demand returning to pre-pandemic levels once the pandemic is over.
A gamma counter is an instrument to measure gamma radiation. It is designed to measure small samples of radioactive material.
Rise in demand for the device in pharmaceutical sector and increased adoption of nuclear medicine is anticipated to propel market progress. Rise in prevalence of chronic diseases are predicated to boost market progress. Growing healthcare expenditure and increased usage of the device in both developed and developing region. Government support and increased strategic initiatives by key players is anticipated to fuel market progress. The tool is extensively used in R&D activities of new radioactive compounds. Also, some gamma counter is used to identify radioactive materials such as wipe test counter. Increased useful nature of the product in R&D for cancer diagnostics is estimated to drive market growth in the upcoming years. Rise in patient awareness towards chronic disease treatment is anticipated to foster market growth. Growing approval of advanced technology products is estimated to fuel market growth. Upward investments by market players is expected to fuel market growth. Also, huge adoption of the tool in chemical sector and rapid industrialization is expected to expand market growth. On the contrary, risk of gamma radiation and high cost is anticipated to limit market progress in the coming years.
COVID-19 Impact: Rise in R&D Activities and Growing Development in Healthcare Sector to Influence Market Growth
The sudden outbreak of COVId-19 pandemic to hamper multiple businesses. The market was slightly affected during the initial stage of pandemic due to lockdown restrictions. The demand for the tool in healthcare sector offers to recover market growth. Also, huge expenditure on healthcare services during pandemic boosted product adoption. Increased R&D activities for vaccines and COVID-19 medicines is responsible to fuel market growth. Rise in government support and increased investments accelerated market dynamic.
LATEST TRENDS
"Increased Adoption of the Tool in Medical Sector to Fuel Market Progress"
The rising adoption of the tool in medical sector is expected to surge market growth. The tool is instrument to measure gamma radiation. It is designed to measure small samples of radioactive material. Unlike gamma counters and survey meters are designed to measure small samples of radioactive material, typically with automated measurement and movement of multiple samples. Rise in awareness about the advantages of the product among consumer is anticipated to surge market growth.
Gamma Counter Market Segmentation
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- By Type
Based on type, the market is divided into automatic gamma counter, semi-automatic gamma counter, and others.
Automatic gamma counter is expected to be the top part of type segmentation.
- By Application
Based on the application, the market is divided into chemical, pharma, and others.
Pharma is expected to be the top part of application segmentation.
DRIVING FACTORS
"Rise in Prevalence of Chronic Diseases among Population to Fuel Market Growth "
Rise in demand for the device in pharmaceutical sector and increased adoption of nuclear medicine is anticipated to propel market progress. Rise in prevalence of chronic diseases are predicated to boost market progress. Growing healthcare expenditure and increased usage of the device in both developed and developing region. Government support and increased strategic initiatives by key players is anticipated to fuel market progress. The tool is extensively used in R&D activities of new radioactive compounds. Also, some gamma counter is used to identify radioactive materials such as wipe test counter. These factors are estimated to drive market growth over the estimated period.
"Growing R&D Activities and Huge Adoption of Advanced Technology to Accelerate Market Growth "
The tool is extensively used in R&D activities of new radioactive compounds. Also, some gamma counter is used to identify radioactive materials such as wipe test counter. Increased useful nature of the product in R&D for cancer diagnostics is estimated to drive market growth in the upcoming years. Rise in patient awareness towards chronic disease treatment is anticipated to foster market growth. Growing approval of advanced technology products is estimated to fuel market growth. Growing investments by market players is expected to fuel market growth. Also, huge adoption of the tool in chemical sector and rapid industrialization is expected to expand market growth.
RESTRAINING FACTORS
"Risk of Gamma Radiation and High Cost of Tool to Hamper Market Progress"
The risk of gamma radiation and high cost is anticipated to limit market progress in the coming years.
Gamma Counter Market Regional Insights
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"Growing Healthcare Expenditure in North America to Drive Market Share "
North America is estimated to account for the largest gamma counter market share owing to rise in prevalence of chronic diseases are predicated to boost market progress. Growing healthcare expenditure and increased usage of the device in both developed and developing region. Government support and increased strategic initiatives by key players is anticipated to fuel market progress. The tool is extensively used in R&D activities of new radioactive compounds. Also, some gamma counter is used to identify radioactive materials such as wipe test counter. Increased useful nature of the product in R&D for cancer diagnostics is estimated to drive market growth in the upcoming years. Rise in patient awareness towards chronic disease treatment is anticipated to foster market growth. Growing approval of advanced technology products is estimated to fuel market growth. Growing investments by market players is expected to fuel market growth. Also, huge adoption of the tool in chemical sector and rapid industrialization is expected to expand market growth.
Asia Pacific is expected to dominate market growth due to increased productivity and rise in R&D activities. Japan is the most dominating region in Asia Pacific for its acceptance of advanced technology and ongoing innovation is anticipated to drive market progress in the upcoming years.
KEY INDUSTRY PLAYERS
"Leading Players Adopt New Strategies to Stay Competitive"
The report covers information about the list of market players and their latest development in the industry. The information includes mergers, partnerships, acquisitions, technological developments, and production lines. Other aspects examined for this market include complete research on companies producing and introducing the latest products, regions they conduct their operations in, automation, technology adoption, generating the most revenue, and making a difference with their products.
List of Market Players Profiled
- Thermo Scientific (U.S.)
- Beckman (U.S.)
- Packard (U.S.)
- Perkin Elmer (U.S.)
- BERTHOLD TECHNOLOGIES
- Wallac (India)
- Rotem Industry (Israel)
- Berthold Technologies (India)
- Capintec (U.S.)
REPORT COVERAGE
This research profiles a report with general studies that explain the firms that exist in the market affecting the forecasting period. With detailed studies done, it also offers a comprehensive analysis by examining the factors like segmentation, opportunities, industrial developments, trends, growth, size, share, restraints, and others. This analysis is subject to alteration if the key players and probable analysis of market dynamics change.
Frequently Asked Questions
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What is the leading region in the gamma counter market?
The leading region in the gamma counter market is Asia Pacific.
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What are the driving factors help pushing the gamma counter market?
The drivers of the gamma counter market are rise in prevalence of chronic diseases among population and growing R&D activities and huge adoption of advanced technology.
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Which are the key player or most dominating companies functioning in the gamma counter market?
Thermo Scientific, Beckman, Packard, Perkin Elmer, BERTHOLD TECHNOLOGIES, Wallac, Rotem Industry, Berthold Technologies, and Capintec are the key player or most dominating companies functioning in the gamma counter market.
