The global Inorganic Scintillators Market is forecast to reach USD 418.1 Million by 2027, according to a new report by Reports and Data. The growth of the inorganic scintillators market can be attributed to growing security threats; rising safety concerns post the Fukushima disaster, growing security budgets of global sporting events, growing threat of nuclear terrorism, growth in the number of PET/CT scans, and increasing incidence of cancer.
In the coming years, the market is anticipated to witness the highest growth in the Asia-Pacific region. This can be attributed to Japan’s decision to continue with the use of nuclear power, high spending on homeland security in Asia, high growth expected in China’s nuclear power industry, presence of local and global players in the Chinese market, increasing installations of nuclear imaging systems in India, and the increasing number of nuclear power plants in India.
The heavy reliance on radiological imaging for diagnostic medicine is anticipated to be crucial for the growth of the market. Sodium iodide is used popularly in the medical imaging sector because of its high light output and high resolution coupled with an attractive price point. This factor is the reason behind the rising demand for scintillating crystals in the healthcare industry.
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Further key findings from the report suggest
- The lutetium-yttrium oxyorthosilicate & lutetium oxyorthosilicate material is expected to grow at a decent CAGR of 4.5% during the forecast period. This is mainly because of its benefits like increasing research activities in the field of nuclear physics and high-energy and growing demand for PET scanners across the globe.
- Among the material segment of the Inorganic scintillators market, sodium iodide is leading the market at present with a market share of 37.6%, and it will continue to dominate the market during the forecasted period. Cesium Iodide is expected to register the highest CAGR of 5.0% in the next few years.
- Among the regional segment of the Inorganic scintillators market, North America is expected to register the highest CAGR of 5% over the forecasted period.
- The U.S. is the largest market shareholder in North America because of the rising adoption of nuclear imaging systems, an increase in the number of nuclear power plants in the U.S., increasing prevalence of cancer, government initiatives, rising number of conferences, and growing security concerns.
- Among the application segment of the inorganic scintillators market, the healthcare sector is leading the market at present, and it will continue to dominate the market with an estimate to register the highest CAGR of 4.8% during the forecasted period. The growth of this sector can be attributed to the rising research activity, increasing incidence of cancer, growing preference for effective radiation protection in healthcare facilities, and increasing installations of PET scanners across the globe.
- Key participants include Hamamatsu Photonics K.K., Saint-Gobain S.A., Dynasil Corporation of America, Detec, Hitachi Metals Group, Toshiba Materials Co., Ltd., Rexon Components, Inc ., Scintacor, Amcrys, and EPIC Crystal Co., Ltd, among others.
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For the purpose of this report, Reports and Data have segmented into the Inorganic Scintillators market on the basis of type, material, application, and region:
Type Outlook (Revenue, USD Million; 2017-2027)
- Alkali Halides
- Oxide Compounds
- Rare Earth Metals
Material Outlook (Revenue, USD Million; 2017-2027)
- Sodium Iodide
- Cesium Iodide
- Lutetium Oxyorthosilicate & Lutetium–Yttrium Oxyorthosilicate
- Bismuth Germanate
Application Outlook (Revenue, USD Million; 2017-2027)
- Homeland Security and Defense
- Nuclear Power Plants
- Industrial Applications
In-depth regional analysis covers:
- North America
- Asia Pacific
- Latin America
- Middle East & Africa
Table of Content
Chapter 1. Market Synopsis
1.1. Market Definition
1.2. Research Scope & Premise
1.4. Market Estimation Technique
Chapter 2. Executive Summary
2.1. Summary Snapshot, 2019-2027
Chapter 3. Indicative Metrics
Chapter 4. Inorganic Scintillators Market Segmentation & Impact Analysis
4.1. Inorganic Scintillators Market Segmentation Analysis
4.2. Industrial Outlook
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The report on the Inorganic Scintillators market provides critical insights into the growth in revenue along with CAGR throughout the forecast period. It also provides insights into lucrative opportunities to enable the businesses to capitalize on the emerging trends of the market. Advanced analytical tools such as SWOT analysis and Porter’s Five Forces analysis are used in the report to offer clear understanding about competitive landscape and market growth. it also offers strategic recommendations to the new and emerging players to overcome the entry-level barriers of the market during the forecast period.
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