Inorganic Scintillators Market Size, Revenue Analysis, PEST, Region & Country Forecast, 2017–2027

Inorganic Scintillators Market report also sheds light on supply chains and the changes in the trends of the upstream raw materials and downstream distributors.

NEW YORK, NY, UNITED STATES, November 28, 2022 /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

Regional Analysis Covers:

• North America (U.S., Canada)
• Europe (U.K., Italy, Germany, France, Rest of EU)
• 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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Benefits of Global Inorganic Scintillators Market Report:

• Comprehensive analysis of the changing market dynamics
• A futuristic outlook on different factors influencing the market
• An 8-year forecast of the market growth and expected revenue growth
• Ease of understanding of the market, key segments, and their future growth
• In-depth analysis of the competitive landscape to give an advantageous edge for the companies
• Extensive insight into the market with in-depth analysis of the segmentation

Thank you for reading our report. For further queries or inquiries about customization, kindly connect with us to know more. Our team will ensure the report is tailored according to your needs.

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