Global Scintillator Market Experiences Robust Growth: Valuation Set to Soar to US$ 715 Million by 2028 with a Strong CAGR of 4.7%
DUBLIN, Sept. 15, 2023 /PRNewswire/ -- The "Scintillator Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028" report has been added to ResearchAndMarkets.com's offering.
The global scintillator market demonstrated impressive growth in 2022, reaching a total valuation of US$ 540 million. According to the report the market is set to continue its upward trajectory, with expectations to reach US$ 715 million by 2028, reflecting a robust compound annual growth rate (CAGR) of 4.7% during the forecast period spanning from 2023 to 2028.
Scintillators, materials capable of absorbing high-energy photons and incident particles like protons, electrons, and neutrons, are gaining prominence worldwide. These versatile materials encompass a wide range, including inorganic and organic crystals, organic liquids, noble gases, and scintillating gases. Scintillators play a pivotal role in converting absorbed energy into visible or ultraviolet photons, enabling detection through photomultipliers and photodiodes.
Furthermore, scintillators facilitate the efficient determination of the energy and timing of incident radiation. Their superior sensitivity to deposited energy, rapid response times, and cost-effective construction make them the preferred choice over other radiation detectors. Consequently, scintillators find extensive applications in nuclear power plants, medical imaging, manufacturing industries, high-energy particle experiments, and national security initiatives.
In the healthcare sector, scintillators play a crucial role in the detection and analysis of cardiovascular and neurological diseases, resulting in growing global demand. Additionally, governments worldwide are introducing stringent regulations governing the use of medical devices, compelling hospitals and healthcare institutions to adopt advaned scintillation and radiation detectors. These materials are also instrumental for security and defense organizations worldwide, enhancing homeland security efforts and mitigating radiological threats.
For instance, the United States Department of Homeland Security (DHS) has been at the forefront of supporting the development of solid organic scintillators under the Exploratory Research and Small Business Innovative Research programs, aiming to detect radioactive substances and prevent radiological threats.
Key Market Segmentation:
The global scintillator market report, provided by [Publisher Name], offers an in-depth analysis of key trends within each sub-segment, along with global and regional forecasts for the period spanning 2023 to 2028. The market is segmented based on the composition of materials, end products, and applications.
Composition of Material:
The report conducts a comprehensive analysis of the competitive landscape, featuring key players such as Applied Scintillation Technologies Ltd., Argus Imaging Bv Inc., Hamamatsu Photonics K.K., Hitachi Metals Ltd, Ludlum Measurements Inc., Mirion Technologies Inc., Radiation Monitoring Devices Inc, Rexon Components and TLD Systems Inc., Saint Gobain, Zecotek Photonics Inc, and others.
Key Questions Answered in This Report:
For more information about this report visit https://www.researchandmarkets.com/r/ig2s61
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