Scintillators: Key market research findings
- Increase in global homeland security measures drives growth in the market
- Americas dominate the market geographically
- Key vendors – Canberra, Hamamatsu Photonics, Hitachi Metals, Ludlum Measurements, Mirion, Radiation Monitoring Devices, Saint-Gobain, and Zecotek Photonics
Technavio’s market research analysts predict the global scintillator market to grow at a CAGR of almost 6% between 2016 and 2020. The increase in homeland security measures is directly influencing the demand for scintillators in the market across the globe. Security and defense organizations across the globe are striving hard to tighten their homeland security due to the emergence and proliferation of terrorist organizations across the globe. The Americas dominated the global scintillator market in 2015 by accounting for almost 41% of the overall market space. The establishment of new nuclear power plants and improvements in medical infrastructure are some of the factors that will drive growth in the scintillator market in the Americas during the forecast period.
The new market research report from Technavio presents a breakdown and analysis of the scintillator segments based on application.
“Recently, there has been an increase in the use of plastic scintillators in applications requiring high performance. Plastic scintillators are largely used for low-cost, low-performance applications. However, recent studies show that these scintillators can be used for high-performance applications at a lower cost. Besides, the new generation of organic scintillators is expected to replace low-cost materials in large detectors,” says Sunil Kumar Singh, Lead Analyst, Hardware & Semiconductor, Technavio Research.
In 2020, the healthcare sector is expected to retain its dominant position with a market share of around 57%. Scintillators form a critical component in medical diagnostic equipment such as X-ray detectors, PET scanners, and gamma cameras. The growth of the global scintillator market in the healthcare sector can be attributed to the growing geriatric population, increasing incidences of cancer, and improvement in the healthcare infrastructure, especially in developing nations.
The key vendors in the market include Canberra, Hamamatsu Photonics, Hitachi Metals, Ludlum Measurements, Mirion, Radiation Monitoring Devices, Saint-Gobain, and Zecotek Photonics. The global scintillator market is highly fragmented due to the presence of several local and regional vendors offering similar products. The leading vendors combine solutions and provide customers with an integrated offering at cost-effective prices, which increases market competition and affects the market position of small vendors. The market is also characterized by massive R&D investments and government funding for research institutions as raw material procurement and innovations are critical for the market growth.
A more detailed analysis is available in the Technavio report, Global Scintillator Market 2016-2020.
We can customize reports by other regions and specific segments upon request.
