Inorganic Scintillators Market Size, Scope, Demand Analysis 2023-2029
The global inorganic scintillators market size was valued at USD 353.7 million in 2021 and is poised to grow at a significant CAGR of 5.5% during the forecast period 2023-29. The primary factors that drive the market are increasing demand for radiological imaging for the necessary detection of diseases, and exceptional properties of inorganic scintillators such as high light output, high resolution along with good pricing.
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The global inorganic scintillators market segmentation:
- By Product Type: Alkali Halides, Oxide Compounds, and Rare Earth Metals
- By Material Type: Sodium Iodide, Cesium Iodide, Lutetium Oxyorthosilicate & Lutetium–Yttrium Oxyorthosilicate, and Others
- By Application: Medical Imaging, Nuclear Medicine, Radioprotection, Oil Exploration, Process Industry, Life Sciences, and Others
- By End Users: Healthcare, Homeland Security & Defense, Nuclear Power Plants, Industrial Applications
Alkali Halide to Dominate the Inorganic Scintillators Market:
Based on product type, the alkali halide holds the highest market share. The major factor for the rise of this segment is the exceptional physical properties of alkali halide. Higher properties such as high sensitivity, efficiency, and resolution have enhanced their use in medical devices and the imaging sector. These properties can drive the growth of the global inorganic scintillator market. Apart from this, an increase in the government budget for defense, increasing demand for environmental radiation testing, and growing research activities in space can also drive the growth of the market.
North America Inorganic Scintillators Market:
North America, followed by Europe, leads the global inorganic scintillator market due to increasing focus on nuclear power, increasing demand for advanced medical instruments, and increasing awareness among individuals about homeland security. North America leads the global market due to entrenched research infrastructure, increasing funding from public and private sectors, and rising collaborations among global key players have contributed to increasing the sales of Inorganic Scintillators in this region. Apart from this, the major factor that drives the market in this region are the increasing risk of terrorism and increasing investment in research and development activities in defense. Moreover, the high prevalence of chronic diseases such as cancer also drives the market growth further. According to NIH, 1,806,509 people were diagnosed with cancer in the United States and 606,520 cases of death were reported.
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Key players’ profiles in the inorganic scintillators market report are Dynasil Corporation of America, Hitachi Metals Group, Hamamatsu Photonics K.K., Detec, Rexon Components, Inc., Saint-Gobain S.A., EPIC Crystal Co., Ltd., Scintacor, Toshiba Materials Co., Ltd., Amcrys, Shanghai Siccas High Technology Corporation, Nihon Kessho Kogaku Co., Ltd, Alpha Spectra, Inc.
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