Scintillators Market is expected to reach US$ 609.4 million by 2025

Increasing Demand from End-Use Industries to Provide Growth Opportunities for Scintillators Market During 2017–2025

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 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.

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.

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. 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).

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.