Inorganic Scintillators Market by Scintillation Material, Type, & Application - Analysis & Global Forecast to 2021
LONDON, Oct. 10, 2016 /PRNewswire/ -- The inorganic scintillators market is projected to reach USD 330.7 million by 2021 from USD 256.1 million in 2016, at a CAGR of 5.2% in the next five years (2016 to 2021).
The inorganic scintillators market is undergoing a significant transformation, with the changing landscapes 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.
Growing safety concerns post the Fukushima disaster, growing security threats, growing security budgets of global sporting events, increasing incidence of cancer, growth in the number of PET/CT scans, and growing threat of nuclear terrorism are some factors expected to drive the growth of the global inorganic scintillators market in the coming years. On the other hand, factors such as shortage of a nuclear power workforce worldwide and nuclear power phase-out in some European countries are expected to restrain the growth of the market. However, the increase in the number of nuclear power plants in India and Pacific countries, growing focus on clean and reliable electricity generation in China, and the decision of the Japanese government to reverse its nuclear power phase-out are posing lucrative opportunities for the inorganic scintillators market.
Lutetium oxyorthosilicate (LSO) & lutetium-yttrium oxyorthosilicate (LYSO) segment has benefits over other scintillators such as higher light output and short decay time. Thus, the LSO and LYSO segment is expected to grow at highest CAGR during the forecast period. However, sodium iodide (NaI) segment is expected to have largest market size in 2016.
Healthcare segment is estimated to grow at highest CAGR during forecast period, due to rising terrorism levels globally, growing government initiatives by governments worldwide to improve homeland security, and increasing security and defense expenditure. Furthermore, healthcare will have largest market size in 2016, due to increasing incidence of cancer, rising research activity, increasing installations of PET scanners worldwide, and growing preference for effective radiation protection in medical facilities.
In 2016, North America is expected to account for the largest share of the global inorganic scintillators market, followed by Europe, Asia-Pacific, and the Rest of the World (RoW). North America's large share is attributed to the increasing prevalence of cancer, rising adoption of nuclear imaging systems, government initiatives, the increase in the number of nuclear power plants in the U.S., growing security concerns, and the rising number of conferences. In the coming years, the inorganic scintillators market is expected to witness the highest growth in the Asia-Pacific region, with emphasis on India, China, and Japan. This can be attributed to factors such as high spending on homeland security in Asia, Japan's decision to continue with the use of nuclear power, high growth expected in China's nuclear power industry, presence of global and local players in the Chinese market, increasing number of nuclear power plants in India, and increasing installations of nuclear imaging systems in India.
The market witnesses high competitive intensity, as there are several big and many small firms with similar product offerings. These companies adopt various strategies (expansions; new product launches; marketing and promotion; agreements, collaborations, contracts, partnerships, and joint ventures; funding; acquisitions; patent grant, website launch, and product enhancement to increase their market shares and establish a strong foothold in the global market.
In-depth interviews were conducted with CEOs, Sales and Marketing Directors, other innovation and technology directors, and executives from various key organizations operating in the adaptive security market place.
- By Company Type: Tier 1: 50%, Tier 2: 42%, Tier 3: 8%
- By Designation: Director Level: 58%, C-Level: 25%, Others: 17%
- By Region: North America: 46%, Europe: 31%, APAC: 15%, ROW: 8%
The report includes the study of key players offering inorganic scintillators such as Saint-Gobain S.A. (France), Hamamatsu Photonics K.K. (Japan), Dynasil Corporation of America (U.S.), Hitachi Metals Group (Japan), Rexon Components, Inc. (U.S.), Detec (Canada), Toshiba Materials Co., Ltd. (Japan), Scintacor (U.K.), EPIC Crystal Company Limited (China), Amcrys (Ukraine), Alpha Spectra, Inc. (U.S.), Shanghai SICCAS High Technology Corporation (China), and Nihon Kessho Kogaku Co., Ltd. (Japan).
Reasons to Buy the Report:
The report will enrich both established firms as well as new entrants/smaller firms to gauge the pulse of the market, which in turn helps firms to garner a greater market share. Firms purchasing the report could use any one or a combination of the below-mentioned five strategies (market penetration, product development/innovation, market development, market diversification, and competitive assessment) for strengthening their market shares.
The report provides insights on the following pointers:
- Market Penetration: Comprehensive information on the products and services offered by top players in the inorganic scintillators market. The report analyzes the inorganic scintillators market by scintillation material, type, and application.
- Product Development/Innovation: Detailed insights on upcoming technologies, research and development activities, and new product launches in the inorganic scintillators market
- Market Development: Comprehensive information about lucrative emerging markets. The report analyzes the markets for light detectors across regions
- Market Diversification: Exhaustive information about new products, untapped regions, recent developments, and investments in the inorganic scintillators market
- Competitive Assessment: In-depth assessment of market shares, strategies, products, and distribution networks of the leading players in the inorganic scintillators market
Download the full report: https://www.reportbuyer.com/product/4208110/
About Reportbuyer
Reportbuyer is a leading industry intelligence solution that provides all market research reports from top publishers
http://www.reportbuyer.com
For more information:
Sarah Smith
Research Advisor at Reportbuyer.com
Email: [email protected]
Tel: +44 208 816 85 48
Website: www.reportbuyer.com
SOURCE ReportBuyer
Related Links
WANT YOUR COMPANY'S NEWS FEATURED ON PRNEWSWIRE.COM?
Newsrooms &
Influencers
Digital Media
Outlets
Journalists
Opted In
Share this article