Scintillators Market Size, Share & Industry Growth by 2025

Scintillators Market Forecast to 2025 – Global Analysis – by Material Composition (Organic Scintillator and Inorganic Scintillator), Industries (Research & Industrial, Nuclear Power Plants, Medical & Healthcare, Oil & Gas, and Others), and End Products (Fixed and Portable)

Publication Month : Mar 2018

  • Report Code : TIPTE100000416
  • Category : Electronics and Semiconductor
  • Status : Published
  • No. of Pages : 169
Inquire Before Buy

PRICING

$4550

$2730

The scintillators market 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.

In recent years, the demand for scintillators and scintillation detectors has been increasing significantly among various industries such as medical & healthcare, oil & gas, nuclear power plants, research labs & general engineering industries, homeland security, and high energy physics labs. The scintillators market growth can be attributed to an upsurge in the usage of scintillators across industries in developed and developing countries. Further, constant innovation of advanced technologies, governmental initiatives in various countries, rise in funding for research and development among private organizations, and development of technologically enriched products at a low cost are among the other factors responsible for boosting the scintillators market.

Scintillators provide several advantages, including the simplicity of sample preparation and the possibility of running multiple labeling studies simultaneously. These benefits attract a number of end-user industries, which, in turn, act as a catalyst for the scintillator market. However, the scintillators market is projected to be hampered by high CAPEX and high production costs. These are two key challenges faced by the scintillator market players while expanding their business. According to several sources, the prices are expected to drop due to technological developments, which would positively impact the scintillators market in the coming years.

In recent years, the scintillators market has grown dramatically. This may be attributed mostly to the strong performance and growing recognition of scintillator devices across the world. Scintillators play an important role in addressing several issues associated with detecting particles and radiations for healthcare purposes. During the projected period, the increase in the usage of scintillator devices in nuclear and other industrial sectors is likely to boost the scintillators market. Space exploration is an upcoming application for scintillators. Scintillators are employed in space explorations in particle spectrometers, neutron detectors, and gamma-ray spectrometers. Scintillators have proved to be a reliable technology involved in space explorations and space missions due to their properties such as better resolution, resistance to radiation, and relatively low cost. The increase in space programs across countries would boost the demand for scintillation products, which would cater to the scintillator market growth.


Customize Research To Suit Your Requirement

We can optimize and tailor the analysis and scope which is unmet through our standard offerings. This flexibility will help you gain the exact information needed for your business planning and decision making.

Scintillators Market: Strategic Insights

scintillator-market-2025
Market Size Value inUS$ 373.2 million in 2017
Market Size Value byUS$ 609.4 million by 2025
Growth rateCAGR of 6.5% from 2017 to 2025.
Forecast Period2017-2025
Base Year2017
Analyst Image

Naveen

Have a question?

Naveen will walk you through a 15-minute call to present the report’s content and answer all queries if you have any.

Analyst Image  Speak to Analyst



Scintillators Market Insights

Increasing Demand due to Technological Advancements

The scintillators market expansion will be driven by technical advancements and innovation in the foreseeable period. The scintillators market growth may be aided by the development of high-performance goods at a cheap cost, as well as rising demand for radiation detection devices across all application areas. Furthermore, developments in nuclear medicine and medical imaging, as well as helium 3 depletion for protective neutron detection, are likely to contribute to global scintillator market growth. Moreover, during the projected period, a growing number of power plants are likely to meet the high demand. For example, there are 440 operational nuclear power reactors across the globe, as of April 2020, with a total electrical capacity of 390 GW. Furthermore, 55 reactors are under construction and 109 reactors are planned, with a total capacity of 63 GW and 118 GW, respectively, while 329 more reactors are proposed. Thus, the increasing number of nuclear power plants is acting as a key opportunity for the scintillator market players.

Material Composition-Based Market Insights

The global scintillators market by material composition is segmented into organic scintillator and inorganic scintillator. The inorganic scintillators segment led the scintillators market. Due to increased R&D activity throughout the world, the inorganic scintillators segment held the largest share of the scintillator market in 2020. Inorganic scintillators are employed in X-ray and gamma spectroscopy, as well as medical imaging and gamma imaging. Inorganic scintillators are also employed in a variety of applications, including oil wells and mining. As a result, growing R&D work to improve light absorption will help inorganic scintillators flourish, which would ultimately drive the scintillators market.


Scintillators Market, by Material Composition, 2027 and 2025 (%)

  • Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
  • Request discounts available for Start-Ups & Universities

Industries-Based Market Insights

Scintillators such as ammonium molybdate, ethylhexylphosphoric acid, and yttrium silicate are used to diagnose cardiovascular and neurological disorders. Moreover, governments across the world place severe limitations on the use of conventional medical equipment, forcing hospitals and healthcare organizations to invest in advanced scintillation and radiation detectors. The implementation of such regulation has upsurged the demand for scintillated products. Apart from that, these materials are used by security and safety authorities worldwide to increase home security and avoid human loss. Therefore, the medical & healthcare industry dominated the scintillators market in 2017 and is likely to witness a CAGR of 6.4% during the forecast period.

Applied Scintillation Technologies Ltd, Argus Imaging Bv Inc., Hamamatsu Photonics K.K. Hitachi Metals Ltd, Ludlum Measurements Inc., Mirion Technologies Inc., Radiation Monitoring Devices Inc, Rexon Components and TLD Systems Inc., Saint Gobain, Zecotek Photonics Inc., NCR Corporation, and Triton Systems are among the major players operating in the scintillators market. The players operating in the scintillators market adopt strategies such as mergers, acquisitions, and market initiatives to maintain their positions in the market. A few developments by key players are listed below:
  • Mirion Technologies Inc. will release the Series 6LB counter in 2020, which improved gas management technologies. The Series 6LB counter uses less gas compared with the Series 5 XLB counter. It employs a cutting-edge guard detector that does not require the usage of P-10 gas.
Report Coverage
Report Coverage

Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends

Segment Covered
Segment Covered

Material Composition, Industries, and End Products

Regional Scope
Regional Scope

North America, Europe, Asia Pacific, Middle East & Africa, South & Central America

Country Scope
Country Scope

US, Canada, Mexico, UK, Germany, Spain, Italy, France, India, China, Japan, South Korea, Australia, UAE, Saudi Arabia, South Africa, Brazil, Argentina

The List of Companies

1. Radiation Monitoring Devices Inc.
2. Canberra Industries
3. Hamamatsu Photonics
4. Hitachi Metals Ltd.
5. Ladlum Measurements Inc.
6. Rexon Components and TDL Systems Inc.
7. Scintacor Ltd.
8. Zecotek Photonics Inc.
9. Detec
10. Epic Crystals

The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.

  1. Data Collection and Secondary Research:

As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.

Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.

  1. Primary Research:

The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.

For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.

A typical research interview fulfils the following functions:

  • Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
  • Validates and strengthens in-house secondary research findings
  • Develops the analysis team’s expertise and market understanding

Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:

  • Industry participants: VPs, business development managers, market intelligence managers and national sales managers
  • Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.

Below is the breakup of our primary respondents by company, designation, and region:

Research Methodology

Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.

  1. Data Analysis:

Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.

  • 3.1 Macro-Economic Factor Analysis:

We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.

  • 3.2 Country Level Data:

Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.

  • 3.3 Company Profile:

The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.

  • 3.4 Developing Base Number:

Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.

  1. Data Triangulation and Final Review:

The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.

We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.

We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.

Your data will never be shared with third parties, however, we may send you information from time to time about our products that may be of interest to you. By submitting your details, you agree to be contacted by us. You may contact us at any time to opt-out.

Trends and growth analysis reports related to Scintillators Market