[FURL=https://www.industryarc.com/Report/238/scintillator-market-analysis-research-report.html?utm_source=briefingwire&utm_medium=pressrelease&utm_campaign=paidpressrelease]Scintillator Market[/FURL] size is forecast to reach $425 million by 2026, after growing at a CAGR of 6% during 2021-2026, owing to increasing demand from various end use industries such as medical & healthcare, nuclear power plants, homeland security & defense, and manufacturing industries. Scintillators like yttrium silicate and ethylhexylphosphoric acid is used in medical lasers, biomedical implants and to control nuclear.Key Takeaways
Growing number of power plants can stimulate growth of the market over the predicted period. In markets with low-cost, high-resolution and radiation monitoring performance, scintillators have a high potential for growth.
For instance, according to the India Brand Equity Foundation (IBEF), wind energy is estimated to contribute 60 GW, followed by 100 GW from solar power and 15 GW from biomass and hydropower by 2022. The target for renewable energy has been increased to 175 GW by 2022. The Government of India plans to double the share of installed electricity generation capacity of renewable energy to 40% till 2030.
The increases demand for portable and handheld radiation detectors in industrial gamma-ray spectrometers due to superior energy resolution and photomultiplier detectors is propel the scintillator market growth.
Extensive innovation, new radiological medical applications and investments in domestic security radiation monitoring equipment is also expected to fuel market growth.
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Scintillator Market Segment Analysis – By Geography
Asia Pacific dominated the scintillator market share size with 52 % in 2020 owing to rising adoption of medical equipment among medical & healthcare organizations in the developed economies and in developing countries. According Asia-Pacific Journal of Clinical Oncology, Asia Pacific hosts 50% of the world’s new cancer cases each year, and deaths caused by cancer in Asia are expected to increase by 36% by 2030.
Cancer is the second most common cause of death in the US, exceeded only by heart disease. In 2018, The American Cancer Society estimated 729,000 cancer cases including 19% that are caused by smoking and 18% that are caused by a combination of excess body weight, physical inactivity, excess alcohol consumption, and poor nutrition to be detected in the US.
Scintillator Market Drivers
Increasing Demand from End Use Industries
Increasing Demand due to Technological Advancements
Scintillator Market Landscape
Major players in the Scintillator Market are Canberra Industries Inc., Hamamatsu Photonics K.K., Hitachi Metals Ltd., Ludlum Measurements Inc., Mirion Technologies Inc., Radiation Monitoring Devices, Saint Gobain, and Zecotek Photonics, and among others.
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