Us Iridium-192 Market Size By Applications, By Type, By End-User, By Deployment & By Technology 2032
Iridium-192 Market was valued at USD 0.45 Billion in 2022 and is projected to reach USD 0.75 Billion by 2030, growing at a CAGR of 7.5% from 2024 to 2030.
The U.S. Iridium-192 market is a critical component in various sectors, notably in non-destructive testing (NDT) and medical treatments. Iridium-192, a radioactive isotope, emits gamma rays essential for inspecting materials and treating certain cancers. In 2022, the global Iridium-192 market was valued at USD 0.45 billion and is projected to reach USD 0.75 billion by 2030, growing at a CAGR of 7.5% from 2024 to 2030. citeturn0search0 **Key Applications in the U.S. Market** - **Non-Destructive Testing (NDT):** Iridium-192 is extensively used in NDT to assess the integrity of materials without causing damage. Industries such as construction, aerospace, and manufacturing rely on this technology to ensure safety and quality. The increasing demand for quality assurance in these sectors is driving the growth of the Iridium-192 market. - **Medical Treatments:** In the medical field, Iridium-192 is utilized in brachytherapy, a form of cancer treatment where radioactive sources are placed close to or inside tumors. Its high specific activity and short half-life make it ideal for such applications. The rising incidence of cancer and the need for effective treatment options are contributing to the market's expansion. **Market Dynamics** - **Drivers:** The growth of the healthcare sector, particularly in cancer treatment, and advancements in NDT technologies are significant drivers. The global non-destructive testing market is projected to reach USD 22.4 billion by 2026, growing at a CAGR of 7.2%, which directly benefits the Iridium-192 market. citeturn0search0 - **Challenges:** Handling and disposing of radioactive materials pose safety and environmental concerns. Strict regulatory frameworks are in place to mitigate these risks, ensuring the safe use of Iridium-192. **Market Trends** - **Advancements in Radiography:** Technological improvements are enhancing the resolution and accuracy of radiographic inspections, increasing the demand for Iridium-192 in industrial applications. - **Portable Radiography Units:** The development of portable units is expanding the use of Iridium-192 in various settings, including remote and field operations. **Competitive Landscape** The U.S. Iridium-192 market features several key players, including: - **Eckert Ziegler:** A leading company specializing in the development and production of isotope-based products. - **Rosatom:** A Russian state nuclear energy corporation involved in the production of radioactive isotopes. - **NTP Radioisotopes:** A South African company focusing on the production of medical and industrial radioisotopes. These companies are engaged in various strategies, such as mergers, acquisitions, and technological advancements, to strengthen their positions in the market. **Regulatory Environment** The use of Iridium-192 is governed by stringent regulations to ensure safety and environmental protection. In the U.S., the Nuclear Regulatory Commission (NRC) oversees the handling, storage, and disposal of radioactive materials, including Iridium-192. **Future Outlook** The U.S. Iridium-192 market is expected to continue its growth trajectory, driven by advancements in medical treatments and industrial applications. Ongoing research and development efforts are likely to introduce new applications, further expanding the market's potential.
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Bruce Power
Eckert Ziegler
NTP Radioisotopes
Rosatom
China National Nuclear Corporation
By the year 2030, the scale for growth in the market research industry is reported to be above 120 billion which further indicates its projected compound annual growth rate (CAGR), of more than 5.8% from 2023 to 2030. There have also been disruptions in the industry due to advancements in machine learning, artificial intelligence and data analytics There is predictive analysis and real time information about consumers which such technologies provide to the companies enabling them to make better and precise decisions. The Asia-Pacific region is expected to be a key driver of growth, accounting for more than 35% of total revenue growth. In addition, new innovative techniques such as mobile surveys, social listening, and online panels, which emphasize speed, precision, and customization, are also transforming this particular sector.
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Growing demand for below applications around the world has had a direct impact on the growth of the Global Iridium-192 Market
Nuclear Medicine
Industrial Radiography
Research and Development
Radiotherapy
Gamma Irradiation
Hospitals and Clinics
Research Institutions
Manufacturing Units
Government Agencies
Academic Institutions
Source Cylinders
Source Rods
Radiation Sources for Medical Use
Specialized Industrial Sources
Liquid Iridium-192 Sources
Solid State
Liquid Formulations
Gas Formulations
Conventional Radiography
Computed Radiography
Digital Radiography
Advanced Imaging Techniques
Global (United States, Global and Mexico)
Europe (Germany, UK, France, Italy, Russia, Turkey, etc.)
Asia-Pacific (China, Japan, Korea, India, Australia, Indonesia, Thailand, Philippines, Malaysia and Vietnam)
South America (Brazil, Argentina, Columbia, etc.)
Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria and South Africa)
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1. Introduction of the Global Iridium-192 Market
Overview of the Market
Scope of Report
Assumptions
2. Executive Summary
3. Research Methodology of Verified Market Reports
Data Mining
Validation
Primary Interviews
List of Data Sources
4. Global Iridium-192 Market Outlook
Overview
Market Dynamics
Drivers
Restraints
Opportunities
Porters Five Force Model
Value Chain Analysis
5. Global Iridium-192 Market, By Type
6. Global Iridium-192 Market, By Application
7. Global Iridium-192 Market, By Geography
Global
Europe
Asia Pacific
Rest of the World
8. Global Iridium-192 Market Competitive Landscape
Overview
Company Market Ranking
Key Development Strategies
9. Company Profiles
10. Appendix
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