Scintillators Market to Outstrip US$ 609.4 million by 2025 Growing Sturdy at 5.5% CAGR - Prominent Key Players and Region by The Insight Partners

According to our latest market study on "Scintillators Market Forecast to 2028 - Global Analysis - by Material Composition, Industries, End Products, and Geography," the scintillators market size is expected to grow from US$ 373.2 million in 2017 to US$ 609.4 million by 2025 at a CAGR of 6.5% between 2017 and 2025. Scintillators are materials capable of absorbing high-energy photons, as well as incoming protons, electrons, and neutrons. The scintillators market growth is attributed to factors such as advancements in medical imaging technologies, increase in adoption of scintillators in homeland securities, and rising concerns on environmental monitoring.

Scintillators Market: Competitive Landscape and Key Developments
Radiation Monitoring Devices Inc., Canberra Industries, Hamamatsu Photonics K.K., Hitachi Metals Inc., Ladlum Measurements Inc., Rexon Components and TDL Systems Inc., Scintacor Ltd., Zecotek Photonics Inc., and Detect and Epic Crystals are among the major market players operating in the scintillators market. In addition, various other companies were studied to understand the overall scenario in the scintillators market. Further, a number of research activities are underway on different technologies to improve scintillators in order to provide high-end radiation detection technologies to various industries. This parameter is anticipated to catalyze the scintillators market growth in the upcoming years.

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Scintillators such as ethylhexl phosphoric acid, yttrium silicate, and ammonium molybdate are commonly used to avoid blood clots, neurological disorders, brain tumors, breast cancers, and colon cancers. As a result, the healthcare sector, which includes medical imaging and nuclear medicine, domestic security, and nuclear energy business, is likely to grow substantially. Scintillation detectors are combined with a photomultiplier detector to transform scintillation light pulse into an electric pulse. The absorption of a photon leads to the emission of an electron in a photomultiplier detector, which is helpful for light detection of weak signals. Further, defense officials are working to enhance their homeland security teams and reduce the number of people killed or injured by radioactive rays, which will further drive the scintillators market growth.

Scintillators Market: Key Insights - Future Trend
Scintillation detectors are used for detection and analysis of cardiovascular disease (CVD) and neurological diseases. According to the fact sheet published by the British Heart Foundation in February 2018, the number of patients suffering from CVD in the UK was nearly 7 million in 2016. This number is expected to increase due to sedentary lifestyle, improper eating habits, and obesity. Thus, rising cancer and CVD cases, increase in the number of X-ray imaging tests, and developments in medical imaging technologies are expected to be prime factors driving the scintillators market.

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The global scintillators market is segmented on the basis of material composition, industries, end products, and geography. The two types of material compositions considered in the scintillators market include organic scintillators and inorganic scintillators.

Scintillators Market: Segmental Overview
The organic scintillators segment is further segmented into single crystal scintillators, liquid scintillators, and plastic scintillators. The inorganic scintillators segment accounted for the largest share, while the organic scintillators segment is expected to grow at a faster rate over the years. The various types of end products analyzed in the scintillators market include fixed end products and portable end products. Geographically, the scintillators market is categorized into North America, Europe, Asia Pacific (APC), Middle East & Africa (MEA), and South America (SAM).

Scintillators such as ammonium molybdate, ethylhexylphosphoric acid, and yttrium silicate are used to diagnose cardiovascular and neurological disorders. Moreover, governments across the world place severe limitations on the use of conventional medical equipment, forcing hospitals and healthcare organizations to invest in advanced scintillation and radiation detectors.

The implementation of such regulation has upsurged the demand for scintillated products. Apart from that, these materials are used by security and safety authorities worldwide to increase home security and avoid human loss. Therefore, the medical & healthcare industry dominated the scintillators market in 2017 and is likely to witness a CAGR of 6.4% during the forecast period.

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Applied Scintillation Technologies Ltd, Argus Imaging Bv Inc., Hamamatsu Photonics K.K. Hitachi Metals Ltd, Ludlum Measurements Inc., Mirion Technologies Inc., Radiation Monitoring Devices Inc, Rexon Components and TLD Systems Inc., Saint Gobain, Zecotek Photonics Inc., NCR Corporation, and Triton Systems are among the major players operating in the scintillators market. The players operating in the scintillators market adopt strategies such as mergers, acquisitions, and market initiatives to maintain their positions in the market. A few developments by key players are listed below:
• Mirion Technologies Inc. will release the Series 6LB counter in 2020, which improved gas management technologies. The Series 6LB counter uses less gas compared with the Series 5 XLB counter. It employs a cutting-edge guard detector that does not require the usage of P-10 gas.

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