Scintillator Market Growing Demand, Opportunities and Share Analysis 2022 to 2028

According to Precision Business Insights (PBI), the latest report, the Scintillator market is expected to be worth USD 543.4 million in 2022, growing at a 5.2% CAGR from 2022 to 2028. The primary driver of the expansion of the global Scintillator market is the rising applications of scintillator devices majorly in the healthcare and nuclear power plant sectors.

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HealthCare Industry to Dominate the Scintillator Market:
The Healthcare Industry segment is expected to account for a larger revenue share in the global Scintillator market, with a value share worldwide. Scintillators use it to diagnose and analyze cardiovascular diseases in healthcare sectors. Globally, with time rising incidence of these diseases, thus in turn requirement for scintillators is also increasing. These factors will surely dominate the scintillator market worldwide. Furthermore, government bodies worldwide are imposing strict rules regarding the usage of medical equipment, which forces hospitals and health organizations to implement advanced scintillation and radiation instruments which in turn would be expected to boost the market demand in coming years.

North America Scintillator Market:
The North America market is expected to lead the global Scintillator market over the forecast period. It is projected to grow at a CAGR of xx% in the coming years. North America holds a significant revenue share in past years, and in the coming next years, is expected to have the highest revenue share in the scintillation market during the forecast period. Owing to rising demand from various application areas oil & gas, healthcare, and nuclear power plant is anticipated to drive progressive growth in upcoming years. Furthermore, North America pushes the scintillator market by having well-maintained research and development infrastructure regarding healthcare and nuclear power plant installations. The Asia Pacific is witnessed to boost the scintillation market by shifting the population from rural to urban locations, joined with increasing demand for electricity, which is rising installations of nuclear power plants in this region.

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Strategic New Product Launches, Mergers, Acquisitions, and Agreements are the key strategies adopted by market players:
The global Scintillator market further reveals that the key players are increasingly adopting strategies such as the launch of newer products, product launches, and long-term alliances to improve market revenue share and gain significant geographic presence across the region. For instance, In Jan 2021, In Kentucky, Crown Holdings Inc. constructed a new beverage can. The new plant helps meet North America's rising demand for Scintillator, which includes a rise in demand for sparkling water, energy drinks, craft beer, and cocktails, among other beverages.

The Scintillator market is segmented based on product type, composition of the material, application, and geography.
Based on the product type, the market is segmented into the following:
• Hand-Held instruments
• Pocket Size Instruments
• Automatic Instruments
• Fixed
• Installed

Based on the composition of the material, the market is segmented into the following:
• Inorganic Scintillators
• Organic Scintillators
• Oxide-Based Scintillators
• Liquid Scintillators
• Alkali Halides
• Single Crystal
• Plastic Scintillators

Based on the application, the market is segmented into the following:
• Manufacturing Industries
• Healthcare
• Nuclear Power Plants
• Homeland Security and Defense
• Others

Based on geography, the market is segmented into the following:
• North America
• Europe
• The Asia Pacific
• Latin America
• MEA

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Key players' profiles in the scintillator market report are Applied Scintillation Technologies Ltd., Mirion Technologies Inc., Argus Imaging Bv Inc., Hamamatsu Photonics K.K., Hitachi Metals Ltd, Saint Gobain, and Zecotek Photonics Inc, Ludlum Measurements Inc., Radiation Monitoring Devices Inc, and Rexon Components and TLD Systems Inc.

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This release was published on openPR.