April 24, 2024
Alpha Emitter Market

Alpha Emitter Market is poised to grow at a CAGR of 23% by 2030

Alpha emitters find use in a variety of applications such as nuclear batteries, smoke detectors, thickness gauges and medical diagnostics. They have unique properties of emitting alpha radiations that can ionize air molecules easily for detection of particulate matters like smoke. Alpha emitters like americium and polonium are used in ionization-type smoke detectors to detect smoke and initiate alarm. In medical field, alpha emitter radiopharmaceuticals help in targeted alpha therapy of cancer.

The Global Alpha Emitter Market is estimated to be valued at US$ 1533.32 Bn in 2024 and is expected to exhibit a CAGR of 23% over the forecast period 2024 to 2030.

Key Takeaways

Key players operating in the Alpha Emitter Market are Atlas Copco AB, Caterpillar, Inc., Hitachi Construction Machinery, Komatsu Limited, Sandvik AB, Columbia Steel Casting Co., Inc., Doosan Corporation, USCO S.p.A, Volvo AB, and MB America, Inc. These players are focusing on new product launches and collaborations to strengthen their market position.

Growing demand for alpha emitter-based medical diagnostics and cancer therapies is expected to drive the market growth. Developing radiopharmaceuticals for targeted alpha therapy of cancer has gained significant attention from research community and market players over last decade.

The market is witnessing expansion in Asia Pacific and Latin America driven by increasing investments in nuclear infrastructure and rising cancer incidences. China, India, Brazil are emerging as high growth markets on back of rapid economic development and increasing healthcare expenditures.

Market key trends

One of the key trends gaining momentum in Global Alpha Emitter Market Size is the adoption of lead alternatives. Strict environmental norms in many countries regarding usage of lead has fueled the development of non-lead based ionization detectors. Companies are engaged in R&D of alternative materials like carbon nanotubes, graphene sheets and polymers to replace lead in smoke detectors and other applications. Another major trend is the development of precision engineering techniques for manufacturing tiny scale alpha emitter sources and seals required in applications like thickness gauges and analytical instruments. Miniaturization is bringing new opportunities across different application domains.

Porter’s Analysis

Threat of new entrants: Low startup costs and intellectual property barrier poses low threat of new entrants. Bargaining power of buyers: Large number of buyers and product differentiation results in moderate bargaining power of buyers. Bargaining power of suppliers: Few component suppliers and switch costs poses moderate bargaining power of suppliers. Threat of new substitutes: Substitute materials like metallic powders poses moderate threat of substitution. Competitive rivalry: Many large players results in high competitive rivalry in the market.

The geographical region where the Alpha Emitter market value is highly concentrated is North America. The region accounts for over 40% of the global market value due to high adoption in healthcare sector for diagnosis and treatment of various cancers and other diseases.

The fastest growing region for the Alpha Emitter market is Asia Pacific. The region is expected to grow at a CAGR of around 28% during the forecast period of 2024 to 2030. rapid economic development, rising healthcare expenditure, increasing incidence of cancer and growing medical infrastructure in Asia Pacific countries like China and India is driving the demand for alpha emitters in the region.

*Note:
1.      Source: Coherent Market Insights, Public sources, Desk research
2.      We have leveraged AI tools to mine information and compile it