With Almost 55% Market Share the Healthcare Sector Led the Global Scintillator Market in 2015 and Will Retain its Dominant Position Through 2020, Reports Technavio

LONDON--()--According to the latest market study released by Technavio, the global scintillator market is expected to grow at a CAGR of 5.68% during the forecast period.

This research report titled ‘Global Scintillator Market 2016-2020’ provides an in-depth analysis of the market in terms of revenue and emerging market trends. This market research report also includes up to date analysis and forecasts for various market segments and all geographical regions.

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Based on application, the report categorizes the global scintillator market into four segments:

  • Healthcare
  • Nuclear power plants
  • Manufacturing industries
  • Homeland security and defense

Scintillators in healthcare sector

The improving healthcare services in developed nations such as the US, France, and Germany has led to the dominance of the healthcare sector in 2015 with a market share of almost 55%. Advances in medical technology are resulting in the use of scintillator-integrated devices for diagnosis and detection. Technavio researchers forecast the healthcare sector to retain its dominant position during the forecast period due to the growing geriatric population, increasing incidences of cancer, and further improvement in healthcare infrastructure, especially in developing nations.

According to Asif Gani, a lead analyst at Technavio for research on embedded systems, “Scintillators facilitate improvement in the detection and diagnosis of a number of diseases including cancer. Countries such as India, China, and Brazil are upgrading their healthcare policies, which will create the demand for new medical equipment. This, in turn, will boost the demand for scintillators in the healthcare sector in the coming years.”

Scintillators in nuclear power plants

Nuclear power plants followed the healthcare sector in terms of market share and led the second position in the global market. The tendency of scintillation materials to glow in the presence of radiation makes them a necessity in nuclear power plants to ensure safety. Scintillator detectors are used to monitor radiation extensively in and around power plants. The scintillation process is one of the most useful methods for the detection and spectroscopy of a wide assortment of radiations. Even after the Fukushima disaster of 2011, nations such as China, India, and Russia are investing heavily in the development of nuclear power plants to fulfill their electricity requirements. The construction of nuclear power plants will create the requirement for scintillator counters and other radiation detection devices. This will aid in the growth of the overall scintillator market during the forecast period.

Scintillators in manufacturing industries

Technavio analysts expect the demand for scintillators in the manufacturing industry to grow during the forecast period. Many manufacturing industries such as healthcare, medicine, and consumer electronic goods deal with radioactive materials for which they have to maintain safety levels for their workers. The integration of radioactive materials in consumer products has also increased significantly over the last decade. “This has resulted in increasing the awareness about the effects of radiation, rising demand for radiation safety products, and growing concern for professionals working in radiation-prone environments. Therefore, the market for radiation detection equipment, such as scintillators, in the manufacturing segment is set to grow during the forecast period,” adds Asif.

Scintillators in homeland security and defense sector

Nations worldwide are facing an increasing nuclear threat, especially from terrorists. Governments are focusing on the development of internal security infrastructure to protect the nations from terrorist attacks. Personnel including state and local law enforcement officials, customs officials, and border patrol agents are required to use portable radiation detection systems such as scintillator counters to avoid cross-border infiltration of radioactive materials. For instance, the Department of Homeland Security has necessitated the use of large plastic scintillation detectors as portal monitors for scanning cargo from container vessels. In the case of suspicious cargo, a detailed examination is carried out using gamma-ray spectroscopy systems.

The top vendors highlighted by Technavio’s research analysts in this report are:

  • Canberra Industries
  • Hamamatsu Photonics
  • Hitachi Metals
  • Ludlum Measurements
  • Mirion Technologies
  • Radiation Monitoring Devices
  • Saint-Gobain
  • Zecotek Photonics

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About Technavio

Technavio is a leading global technology research and advisory company. The company develops over 2000 pieces of research every year, covering more than 500 technologies across 80 countries. Technavio has about 300 analysts globally who specialize in customized consulting and business research assignments across the latest leading edge technologies.

Technavio analysts employ primary as well as secondary research techniques to ascertain the size and vendor landscape in a range of markets. Analysts obtain information using a combination of bottom-up and top-down approaches, besides using in-house market modeling tools and proprietary databases. They corroborate this data with the data obtained from various market participants and stakeholders across the value chain, including vendors, service providers, distributors, re-sellers, and end-users.

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Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 630 333 9501
UK: +44 208 123 1770
www.technavio.com

Release Summary

According to the latest market study released by Technavio, the global scintillator market is expected to grow at a CAGR of 5.68% during the forecast period.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 630 333 9501
UK: +44 208 123 1770
www.technavio.com