Global Scintillator Market to Reach US$ 715 Million by 2028, Fostered by Growing Applications in Defense and Security Sector

April 30, 2020 | Technology & Media

As per the latest report by IMARC Group, titled “Scintillator Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028,” the global scintillator market size reached US$ 540 Million in 2022. 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.

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$ 715 Million by 2028, expanding at a CAGR of 4.7% during the forecast period (2023-2028).

Market Summary:

Based on the composition of 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 Scintacor Ltd., Hamamatsu Photonics K.K., Proterial, Ltd. (Hitachi Ltd.), Ludlum Measurements Inc., Mirion Technologies Inc., Radiation Monitoring Devices Inc. (Dynasil Corporation of America), Rexon Components, Inc., Zecotek Photonics Inc., etc.

Report Scope:

Report Features	Details
Base Year of the Analysis	2022
Historical Period	2017-2022
Forecast Period	2023-2028
Units	US$ Million
Segment Coverage	Composition of Material, End Product, Application, Region
Region Covered	Asia Pacific, Europe, North America, Latin America, Middle East and Africa
Companies Covered	Scintacor Ltd., Hamamatsu Photonics K.K., Proterial, Ltd. (Hitachi Ltd.), Ludlum Measurements Inc., Mirion Technologies Inc., Radiation Monitoring Devices Inc. (Dynasil Corporation of America), Rexon Components, Inc. and Zecotek Photonics Inc.
Customization Scope	10% Free Customization
Report Price and Purchase Option	Single User License: US$ 2499 Five User License: US$ 3499 Corporate License: US$ 4499
Post-Sale Analyst Support	10-12 Weeks
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Global Scintillator Market to Reach US$ 715 Million by 2028, Fostered by Growing Applications in Defense and Security Sector

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