Reports And Data

Rising volumes of Pet/C.T. scan, growing incidences of cancer, & growing threat of nuclear terrorism are some of main factors driving the growth of this market

NEW YORK, NY, UNITED STATES, October 27, 2021 /EINPresswire.com/ -- The global Inorganic Scintillators Market is forecast to reach USD 418.1 Million by 2027, according to a new report by Reports and Data. The growth of the inorganic scintillators market can be attributed to growing security threats; rising safety concerns post the Fukushima disaster, growing security budgets of global sporting events, growing threat of nuclear terrorism, growth in the number of PET/CT scans, and increasing incidence of cancer.

In the coming years, the market is anticipated to witness the highest growth in the Asia-Pacific region. This can be attributed to Japan's decision to continue with the use of nuclear power, high spending on homeland security in Asia, high growth expected in China's nuclear power industry, presence of local and global players in the Chinese market, increasing installations of nuclear imaging systems in India, and the increasing number of nuclear power plants in India.

The heavy reliance on radiological imaging for diagnostic medicine is anticipated to be crucial for the growth of the market. Sodium iodide is used popularly in the medical imaging sector because of its high light output and high resolution coupled with an attractive price point. This factor is the reason behind the rising demand for scintillating crystals in the healthcare industry.

The COVID-19 impact:

The COVID- 19 outbreak has impacted the global economy altogether. This virus from China has not spared the scintillator industry, leading to the cancellation of events and closing factories. Due to the cancellation of international trade fairs, infectious disease also has a global impact. The lockdown in several regions has severely impacted the Inorganic Scintillators Market around the world. Moreover, major players like the Saint Gobain S.A., sending its workers to quarantine (those who require) and working with reduced workforce strength, will negatively impact the flourishing Inorganic Scintillators market. 

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Key participants include Hamamatsu Photonics K.K., Saint-Gobain S.A., Dynasil Corporation of America, Detec, Hitachi Metals Group, Toshiba Materials Co., Ltd., Rexon Components, Inc ., Scintacor, Amcrys, and EPIC Crystal Co., Ltd, among others.

Further key findings from the report suggest

• The lutetium-yttrium oxyorthosilicate & lutetium oxyorthosilicate material is expected to grow at a decent CAGR of 4.5% during the forecast period. This is mainly because of its benefits like increasing research activities in the field of nuclear physics and high-energy and growing demand for PET scanners across the globe.
• Among the material segment of the Inorganic scintillators market, sodium iodide is leading the market at present with a market share of 37.6%, and it will continue to dominate the market during the forecasted period. Cesium Iodide is expected to register the highest CAGR of 5.0% in the next few years.
• Among the regional segment of the Inorganic scintillators market, North America is expected to register the highest CAGR of 5% over the forecasted period.
• The U.S. is the largest market shareholder in North America because of the rising adoption of nuclear imaging systems, an increase in the number of nuclear power plants in the U.S., increasing prevalence of cancer, government initiatives, rising number of conferences, and growing security concerns.
• Among the application segment of the inorganic scintillators market, the healthcare sector is leading the market at present, and it will continue to dominate the market with an estimate to register the highest CAGR of 4.8% during the forecasted period. The growth of this sector can be attributed to the rising research activity, increasing incidence of cancer, growing preference for effective radiation protection in healthcare facilities, and increasing installations of PET scanners across the globe.

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For the purpose of this report, Reports and Data have segmented into the Inorganic Scintillators market on the basis of type, material, application, and region:

Type Outlook (Revenue, USD Million; 2017-2027)

• Alkali Halides
• Oxide Compounds
• Rare Earth Metals

Material Outlook (Revenue, USD Million; 2017-2027)

• Sodium Iodide
• Cesium Iodide
• Lutetium Oxyorthosilicate & Lutetium–Yttrium Oxyorthosilicate
• Bismuth Germanate
• Others

Application Outlook (Revenue, USD Million; 2017-2027)

• Healthcare
• Homeland Security and Defense
• Nuclear Power Plants
• Industrial Applications
• Others

The research study includes an in-depth analysis of the market using advanced research methodologies such as SWOT analysis and Porter’s Five Forces analysis. The report further explores the key business players along with their in-depth profiling, product portfolio, and strategic business decisions. The report has been formulated through extensive primary and secondary research and further validated by analysts, industry experts, and market professionals. The report also sheds light on the recent mergers and acquisitions, joint ventures, collaborations, partnerships, and product launches, among others.

Regional analysis covers assessment of import/export, production and consumption ratio, supply and demand, cost, price, estimated revenue and gross margins, and presence of key players in the region. The report also offers insights about revenue growth, market size, market share, technological advancements, and presence of key players in each region.

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Regional Bifurcation of the Inorganic Scintillators Market Includes:

North America (U.S., Canada, Mexico)
Europe (U.K., Italy, Germany, France, Rest of Europe)
Asia Pacific (India, Japan, China, South Korea, Australia, Rest of APAC)
Latin America (Chile, Brazil, Argentina, Rest of Latin America)
Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)

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