The scintillator market is predicted to grow at a CAGR of 4.82% from US$700.597 million in 2021 to US$974.076 million by 2028.
— Knowledge Sourcing Intelligence
NOIDA, UTTAR PRADESH, INDIA, September 11, 2023/EINPresswire.com/ — According to a new study published by Knowledge Sourcing Intelligence, the scintillator market is projected to grow at a CAGR of 4.82% between 2021 and 2028 to reach US$974.076 million by 2028.
The exponential rise in medical imaging tests due to a surge in chronic diseases and advanced diagnostic technology is the primary driver behind the scintillator market’s robust growth. Furthermore, technological advancements, the expansion of nuclear power plants, and the innovation of new scintillator materials are also significant drivers of the market.
Scintillators are materials that detect nuclear particles by emitting light photons upon radiation exposure, converted into electric signals. Initially used in medicine, their applications have expanded to include security, high-energy physics, nuclear power, and more. New scintillators like cerium-doped lanthanum halides and Europium-doped strontium iodide have also emerged, driven by research and demand for handheld radiation monitoring devices.
In May 2023, researchers from Florida State University introduced eco-friendly X-ray Scintillators with High Efficiency, offering cost-effective and environmentally friendly alternatives to current technology. Moreover, Canon Medical Systems Corporation launched the first photon-counting CT system using advanced scintillators in November 2022, contributing to cutting-edge research at Japan’s National Cancer Centre and revolutionizing clinical applications of PCCT technology.
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The Scintillator Market based on material type is segmented into organic and inorganic. Organic scintillators are composed of carbon-based compounds, while inorganic scintillators consist of crystalline materials. Each type has distinct properties and applications in radiation detection and imaging.
Based on product type, the Scintillator market is segmented into pocket-size Instruments, hand-held instruments, and fixed or installed systems. Pocket-size instruments are compact, portable devices for on-the-go radiation detection. Hand-held instruments provide flexibility and ease of use in various applications. Fixed or Installed Systems are stationary setups commonly used in facilities like nuclear power plants for continuous monitoring and safety.
The scintillator market is segmented into five categories based on end-use applications: Healthcare, Energy and Power, Manufacturing, Defense, and other industries. The healthcare sector is expected to account for a significant market share fueled by the growing medical radiation detection applications.
Asia stands as a pivotal region propelling the scintillator market’s growth. The surge in nuclear power plant construction, particularly in countries like China and India, has escalated the demand for scintillators in radiation monitoring and safety systems. Simultaneously, the booming healthcare sector, driven by the need for accurate diagnostics and medical imaging tests, has significantly increased the utilization of scintillators in devices like X-ray and CT scanners. Asia’s prominence in both nuclear energy and healthcare contributes substantially to the market’s expansion, making it a key region for scintillator development.
The market study includes coverage of Applied Scintillation Technologies Ltd., Argus Imaging Bv Inc., Hamamatsu Photonics K.K., Radiation Monitoring Devices Inc., Hitachi Metal Ltd., Mirion Technologies, Siemens, Zecotek Photonics Inc. Ludlum Measurements, Amcrys, Saint Gobain, and Zecotek Photonics Inc. among other significant market players in the scintillator industry.
The analytical report categorizes the scintillator market per the following criteria:
• By Material Type
• By Product
o Pocket-Size Instruments
o Hand-Held Instruments
o Fixed or Installed Systems
• By End-User Industry
o Energy and Power
• By Geography
o North America
o South America
o Middle East and Africa
• Saudi Arabia
o Asia Pacific
• South Korea
• Applied Scintillation Technologies Ltd.
• Argus Imaging Bv Inc.
• Hamamatsu Photonics K.K.
• Radiation Monitoring Devices Inc
• Hitachi Metal Ltd.
• Mirion Technologies
• Zecotek Photonics Inc.
• Ludlum Measurements
• Saint Gobain
• Zecotek Photonics Inc.
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