Scintillator Market - New Report and Business Relevance

The scintillator market is undergoing a significant transformation, with the changing landscape of healthcare, nuclear power plants, homeland security and defense, and manufacturing industries. The growth of this market is majorly influenced by the dynamics of these industries. Huge R&D investments and government funding in new scintillator discoveries are driving the growth of the overall market, globally. Rising demand for new radiological medical applications and increasing investments for radiation monitoring in homeland security are some of the drivers which are driving the scintillator market.

Some of the major players in scintillator market include: Canberra Industries Inc. (U.S.), Hamamatsu Photonics K.K. (Japan), Hitachi Metals Ltd. (Japan), Ludlum Measurements Inc. (U.S.), Mirion Technologies Inc. (U.S.), Radiation Monitoring Devices (U.S.), Saint Gobain (France), and Zecotek Photonics (Canada), among others.

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The Scintillator market is expected to reach $479.16 Million by 2020, at an estimated CAGR of 5.62% from 2014 to 2020.

Scintillator is a material that identifies nuclear particles and radiation by reemitting the incident radiation in the form of light photons, which are further converted to electric signals by photomultiplier tubes. Initially, applications of these materials were limited to medical and visual counting purposes, but in the recent few years, scintillators have made a radical shift towards security, high energy physics, astrophysics, nuclear power plants, and scientific applications. Though, inorganic compounds are the most dominant materials leveraged for radiation detection in radiation monitoring and measurement devices, still many new compound scintillators have evolved due to the surge in research initiatives by the private and government sectors; such as cerium doped lanthanum halides, Europium doped strontium iodide, LSO, LYSO, and others. These continuous developments are driven by the emergence of new applications and due to the growing need of hand held and portable radiation detectors. Scintillators have a huge growth potential, especially, in markets that are characterized by low cost, and high resolution and performance in terms of the radiation monitoring equipment.

The main driving factors responsible for the explosive growth of the overall scintillator market include application driven research activities, need to find alternatives for neutron detection, supportive regulations, government funding, and radiation exposure related safety concerns. Among all the application sectors, healthcare, nuclear power plants, and homeland security account for the largest market share. Moreover, healthcare, including medical imaging and nuclear medicine, homeland security, and nuclear power industry are estimated to grow exponentially in the coming future.

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In terms of the geographical analysis of the scintillator market with regards to the end products, materials, and related applications —the Americas have been accounting for the largest market share followed by Europe. However, the APAC is expected to be the fastest growing market in the coming future; supportive government policies, increased financial investments by governments, increasing number of nuclear power reactors, and huge R&D activities are the major reasons behind this tremendous growth. Some of the major players in the scintillator market include Saint Gobain (France), Hamamatsu (Japan), Ludlum Measurements (U.S.), Mirion Technologies (U.S.), Hitachi Metals (Japan), Zecotek Photonics (Canada), Applied Scintillation Technologies (U.K.), and Radiation Monitoring Devices (U.S.), among others.