GAMMA RAY SPECTROSCOPY MARKET SIZE AND SHARE ANALYSIS - GROWTH TRENDS AND FORECASTS (2024-2031)

The high cost of gamma spectroscopy systems can hamper the global gamma ray spectroscopy market growth. Gamma ray spectroscopy systems consist of sophisticated equipment such as detectors, analyzers and software for data analysis which makes the overall setup cost substantially high. These systems employ advanced technologies such as high purity germanium (HPGe) detectors, sodium iodide (NaI) scintillation detectors, lanthanum bromide (LaBr3) scintillation detectors and cadmium zinc telluride (CZT) detectors to precisely detect gamma rays emitted by radioactive sources. The detectors need to be cooled to very low temperatures, usually using liquid nitrogen, to achieve the required resolution for accurate spectral analysis. This cooling mechanism along with other advanced electronics increases the overall cost.

Market Opportunities: Emerging applications in homeland security and defense sectors

The emerging applications in homeland security and defense sectors can offer an significant opportunity for global gamma ray spectroscopy market growth. Gamma ray spectroscopy has various use cases in these sectors that aid national security and public safety. Gamma ray detection technologies are increasingly being used for radiological and nuclear threat detection at border checkpoints, public places, and critical infrastructure. Gamma rays can penetrate deep and their unique spectra promise unambiguous detection and identification of special nuclear materials. This allows authorities to screen for illicit trafficking or attempts to develop dirty bombs and nuclear weapons. For instance, according to the data published by International Atomic Energy Agency, between 2020-2022, there were over 100 instances of unauthorized possession and attempts to smuggle radioactive materials across international borders. Gamma ray spectroscopy enabled detection and interdiction in many such cases.