Scintillator Market Size Forecast to Reach $425 Million by 2026

Extensive Innovation, New Radiological Medical Applications and Investments in Domestic Security Radiation Monitoring Equipment Is Expected to Fuel the Growth of Scintillator Market.

Hyderabad, India – July 12, 2021 /MarketersMedia/ —

Scintillator Market size is forecast to reach $425 million by 2026, after growing at a CAGR of 6% during 2021-2026, owing to increasing demand from various end use industries such as medical & healthcare, nuclear power plants, homeland security & defense, and manufacturing industries. Scintillators like yttrium silicate and ethylhexylphosphoric acid is used in medical lasers, biomedical implants and to control nuclear. Having low amounts of almmunium molybdate supplements reduces the risk of esophageal cancer.

Almmunium molybdate has an important role in normal body functions. Like for maternity and lactation. Furthermore, the use of a scintillator in conjunction with a photomultiplier detector finds wide use in hand held survey meters ideal for detecting and measuring monitoring nuclear material.

Scintillator Market Segment Analysis – By Material

Inorganic scintillators segment held the largest share for scintillator market in 2020 due to increasing R&D activities across the globe. For example, improving light coupling with photon detector. Inorganic scintillators used in X-ray and gamma spectroscopy, which fueling the demand of scintillators. Apart from this, inorganic scintillators are used in imaging like Positron Emission Tomography (PET) in medical image and gamma imaging. Also, inorganic scintillators used in various applications such as oil wells and mining. Hence, increasing R&D activity to improve photo absorption will be boosting the growth of inorganic scintillators.

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Scintillator Market Segment Analysis – By Type

Hand held scintillators lead the scintillators market in 2020. Scintillators exhibit high growth potential in markets that are characterized by high resolution, low cost and performance in terms of radiation monitoring equipment. Hand held scintillators may be attributed to surging demand for portable and hand-held radiation detectors. In addition, pocket size alarming instruments with user readable displays are worn on the body. It is also used to detect radioactive materials for interdiction and prevention purposes and to indicate the gamma radiation exposure rate and neutron count rate.

Scintillator Market Segment Analysis – By Application

Medical & Healthcare has dominated the application market for scintillator market in 2020 and is growing at a CAGR of 8% during this forecast period, due to scintillators (like ammonium molybdate, ethylhexylphosphoric acid and yttrium silicate) for cardiovascular and neurological disorders used for the diagnosis and examination in the health industry. In addition, governments across the globe impose strict restrictions on the usage of medical equipment, which in turn urge hospitals and healthcare organizations to introduce sophisticated technical scintillation and radiation detectors. Apart from this, security and safety agencies around the world use these materials to improve domestic security and prevent loss of persons.

Scintillator Market Segment Analysis – By Geography

Asia Pacific dominated the scintillator market share size with 52 % in 2020 owing to rising adoption of medical equipment among medical & healthcare organizations in the developed economies and in developing countries. According Asia-Pacific Journal of Clinical Oncology, Asia Pacific hosts 50% of the world’s new cancer cases each year, and deaths caused by cancer in Asia are expected to increase by 36% by 2030.

Scintillator Market Drivers

Increasing Demand from End Use Industries

Scintillators including ethylhexlphosphoric acid, yttrium silicate and ammonium molybdate are widely used in various applications such as to prevent blood clots, heart diseases, cardiovascular disorders, neurological disorders, brain tumor, ductal cancer and colon cancer. Hence, health care sector is expected to rapidly expand in future, including medical imagery and nuclear medicine, domestic protection and the nuclear energy industry. Scintillation detectors are used in conjunction with a photomultiplier detector to convert the scintillation light pulse into an electric pulse. Photomultiplier detector, useful for light detection of very weak signals, is photo missive device in which the absorption of a photon results in the emission of an electron. Furthermore, the defense authorities are striving to strengthen their homeland security teams and minimize personnel loss from radioactive rays. Which will further drive the market growth.

Increasing Demand due to Technological Advancements

In the forecast era, technological development along with innovation will drive market growth. The production of high-performance products at the low-cost and increased demand for radiation detection instruments across the application markets can also contribute to growth. Furthermore, helium 3 depletion for protection neutron detection, combined with advances in nuclear medicine and medical imaging, is also expected to contribute to global market growth in scintillators. In addition, a rising number of power plants can also support demand growth during the forecast period.

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Scintillator Market Challenges

Volatility in Raw Material Prices

One of the main problems for producers is uncertainty of raw material costs. Business development is expected to be threatened by fluctuating prices of Scintillator. Companies are investing in creating advanced technology for the development of scintillator products to counter this, which requires high initial investments. Like photomultiplier detectors remain among the most sensitive methods for detecting light, they require an expensive and takes much time.

Scintillator Market Landscape

Major players in the Scintillator Market are Canberra Industries Inc., Hamamatsu Photonics K.K., Hitachi Metals Ltd., Ludlum Measurements Inc., Mirion Technologies Inc., Radiation Monitoring Devices, Saint Gobain, and Zecotek Photonics, and among others.

Acquisitions/Product Launches:

In 2020, Mirion Technologies Inc. has launched a product, Series 6LB counter which has better gas management technology. The Series 6LB counter has improved gas usage compared to the Series 5 XLB counter. It uses a new, innovative guard detector that does not require P-10 gas.

Key Takeaways

Growing number of power plants can stimulate growth of the market over the predicted period. In markets with low-cost, high-resolution and radiation monitoring performance, scintillators have a high potential for growth.

The increases demand for portable and handheld radiation detectors in industrial gamma-ray spectrometers due to superior energy resolution and photomultiplier detectors is propel the scintillator market growth.

Extensive innovation, new radiological medical applications and investments in domestic security radiation monitoring equipment is also expected to fuel market growth.

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