At 3.2% CAGR, the South America Gamma Ray Spectroscopy Market is projected to be worth US$ 34.81 million by 2028, says Business Market Insights 

According to Business Market Insights’ research, the South America gamma ray spectroscopy market was valued at US$ 28.86 million in 2022 and is expected to reach US$ 34.81 million by 2028, registering a CAGR of 3.2% from 2022 to 2028. Introduction of portable gamma ray spectrometer information system and use of lightweight gamma ray spectrometers are the critical factors attributed to the South America gamma ray spectroscopy market expansion.     

The portable gamma ray spectrometer information system is suitable for mobile and field gamma spectroscopy surveillance as it can be carried in hand or backpack. The portable gamma spectrometers can be auto calibrated and stabilized in real time on the natural gamma peaks. Further, Android-based mobile devices are incorporated with the data acquisition system and the user interface. The data acquired is automatically synchronized with the time and location of GPS. Owing to lightweight and easy to carry, the demand for portable gamma ray spectrometers is expected to rise in the coming years, which will drive the South America gamma ray spectroscopy market.

On the contrary, adverse effects of gamma rays on consumer’s health hurdles the growth of South America gamma ray spectroscopy market.   

Based on type, the South America gamma ray spectroscopy market is segmented into hardware, software, and services. The hardware segment held 69.4% market share in 2022, amassing US$ 20.04 million. It is projected to garner US$ 23.58 million by 2028 to expand at 2.8% CAGR during 2022–2028.          

Based on end-user, the South America gamma ray spectroscopy market is segmented into space research, nuclear facilities, and mineral exploration. The nuclear facilities segment held 39.8% market share in 2022, amassing US$ 11.48 million. It is projected to garner US$ 14.56 million by 2028 to expand at 4.0% CAGR during 2022–2028.              

Based on country, the South America gamma ray spectroscopy market has been categorized into Brazil, Argentina, and the Rest of South America. Our regional analysis states that Brazil captured 69.4% market share in 2022. It was assessed at US$ 20.03 million in 2022 and is likely to hit US$ 24.89 million by 2028, exhibiting a CAGR of 3.7% during the forecast period.                      

Key players dominating the South America gamma ray spectroscopy market are AMETEK Inc.; ANTECH; ATOMTEX; CAEN S.p.A.; Linde Plc; Mirion Technologies, Inc.; NATS, Inc.; and Sander Geophysics Limited, among others.

• In July 2019, ATOMTEX announced the extension of STB ISO 9001-2015 Quality management system conformity certificate to acknowledge that development, manufacture, maintenance of instruments and equipment for nuclear measurement and radiation control conforms to all requirements. 

• In Sep 2021, Mirion Technologies, Inc. announced the release of its new Apex-Guard software, an exciting addition to the Mirion Apex-Gamma Lab Productivity Suite.

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