Inorganic Scintillators Market is Expected to be Valued at USD 353.7 Million in 2022, Increase in the R&D activities For Better Radiological Imaging

According to Precision Business Insights (PBI), the latest report, the market value of the inorganic scintillators market is expected to be valued at USD 353.7 million in 2022 which is expected to grow at a CAGR of 5.5% over 2022-2028. 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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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.

Strategic New Product Launches, Mergers, Acquisitions, and Agreements are the key strategies adopted by market players:
The global inorganic scintillators market further reveals that the key players are implementing strategies such as the extension of product collection through research and development activities, product launches, acquisitions, mergers, and strategic alliances to improve their market position and strengthen the market revenue share. In October 2021, Mirion Technologies, Inc. acquired the Dosimetry Badge brand to strengthen its position in the medical monitoring, detection, and safety market by increasing innovative products and technology.

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The inorganic scintillators market is segmented based on, product type, material type, application, end users, and region:
Based on the product type, the market is segmented into the following:
• Alkali Halides
• Oxide Compounds
• Rare Earth Metals

Based on the material type, the market is segmented into the following:
• Sodium Iodide
• Cesium Iodide
• Lutetium Oxyorthosilicate & Lutetium-Yttrium Oxyorthosilicate
• Others

Based on the application type, the market is segmented into the following:
• Medical Imaging
• Nuclear Medicine
• Radioprotection
• Oil Exploration
• Process Industry
• Life Sciences
• Others

Based on the end users, the market is segmented into the following:
• Healthcare
• Homeland Security & Defense
• Nuclear Power Plants
• Industrial Applications

Based on the region, the market is segmented into the following:
• North America
• Europe
• Asia Pacific
• Latin America
• Middle East & Africa

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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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