The Gamma Radioactive Sources Market is expected to grow from USD 396.60 Million in 2022 to USD 569.30 Million by 2030, at a CAGR of 5.30% during the forecast period.
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Gamma radioactive sources are radioactive isotopes that emit gamma rays used in various applications such as medical, industrial, agriculture, scientific research, and others. The global gamma radioactive sources market is segmented based on the type of sources such as Co-60, Ir-192, Cs-137, and others. The market is further segmented based on application into medical, industrial, agriculture, scientific research, and others. Geographically, the market is segmented into North America, Asia Pacific, Middle East, Africa, Australia, and Europe. Some of the major players in the market are Nordion, Rosatom, China National Nuclear Corporation, Eckert & Ziegler Strahlen, Polatom, and NTP. Regulatory and legal factors specific to market conditions include licensing and permits for the use of radioactive sources, strict regulations for handling, transportation, and disposal of radioactive sources, and penalties for non-compliance with regulations. These factors play a vital role in shaping the market conditions and the growth of the gamma radioactive sources market.
The latest trends in the Gamma Radioactive Sources market involve the adoption of innovative technologies, such as brachytherapy, which is a form of radiation therapy used in cancer treatment. Additionally, there has been a shift towards the use of low-energy gamma sources in medical applications, owing to their improved safety and efficacy compared to high-energy sources. The market is also witnessing a shift towards the use of cobalt-60 sources for industrial applications, owing to their long half-lives and stable energy output.
In conclusion, the Gamma Radioactive Sources market is expected to witness significant growth in the coming years, driven primarily by the rising incidence of cancer and increasing demand from the industrial sector. However, challenges such as regulatory requirements and high costs pose significant hurdles for smaller players in the market, while larger players can leverage their market dominance and focus on innovation to maintain their competitive edge.
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Nordion
Rosatom
China National Nuclear Corporation
Eckert & Ziegler Strahlen
Polatom
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Medical
Industrial
Agriculture
Scientific Research
Co-60
Ir-192
Cs-137
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