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Global Scintillator Market to Reach US$ 2.0 Billion by 2025, Fostered by Growing Applications in Defense and Security Sector

As per the latest report by IMARC Group, titled “Scintillator Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2020-2025,” the global scintillator market size reached US$ 1.8 Billion in 2019. Scintillators are one of the most commonly used radiation detectors that can absorb high-energy photons and incident particles, such as protons, electrons and neutrons. They help in converting the acquired energy into the ultraviolet range of photons and determining the energy and time of incident radiation. As compared to their counterparts, scintillators are reliable, cost-efficient, more sensitive to deposited energy and have a faster response time. Consequently, they are widely used in nuclear plants, medical imaging, national security, manufacturing industries and high-energy particle experiments.

We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.

Global Scintillator Market Trends:

Owing to the rising threats of terrorism, there is an increase in the utilization of scintillators in security and defense organizations across the globe as they assist in strengthening homeland security and averting human loss. For example, the Department of Homeland Security (DHS) in the United States is continuously supporting the development of solid organic scintillators under the Exploratory Research and Small Business Innovative Research programs. These programs aim to help in detecting radioactive substances and preventing radiological threats in the country. Apart from this, scintillators are also being employed in the healthcare sector for identifying and analyzing cardiovascular and neurological diseases. This, in confluence with the increasing cases of these ailments on account of sedentary lifestyles, is also bolstering the global scintillators market growth. Moreover, governing agencies in various countries are implementing stringent regulations regarding the use of medical devices. This, in turn, is encouraging hospitals and healthcare organizations to adopt technologically advanced scintillation and radiation detectors worldwide. Looking forward, the market value is projected to reach US$ 2.0 Billion by 2025, expanding at a CAGR of 9.9% during the forecast period (2020-2025).

Market Summary:

  • Based on the composition of the material, the market has been bifurcated into in-organic (alkali halides, oxide-based and others) and organic scintillators (single crystal, liquid and plastic).
  • On the basis of the end product, the market has been segmented into personal or pocket size; hand-held; and fixed, installed and automatic instruments.
  • The market has been analyzed on the basis of the application into healthcare, nuclear power plants, manufacturing industries, homeland security and defense, and others.
  • Region-wise, the market has been classified into Europe, North America, Asia Pacific, Latin America, and Middle East and Africa.
  • The competitive landscape of the market has been examined, with some of the key players being Applied Scintillation Technologies Ltd., Argus Imaging BV Inc., Mirion Technologies, Inc., Hamamatsu Photonics K.K., Hitachi Metals Ltd., Ludlum Measurements Inc., Radiation Monitoring Devices Inc., Rexon Components Inc., Saint-Gobain S.A. and Zecotek Photonics Inc.

 

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