Over the years, the inorganic scintillators market, comprising of CsI, NaI, GoS, and others has witnessed various technological advancements. These advancements have led to a growth in the number of applications. Some of the applications using inorganic scintillators include healthcare, nuclear power plants, industrial and homeland security and defense.
Dallas, TX -- (SBWIRE) -- 09/01/2014 -- The "Inorganic Scintillators Market by Type (Sodium Iodide/Cesium Iodide/Gadolinium Oxysulfide/Others) & by Application (Nuclear Power Plant/Healthcare/Homeland Security & Defense/Industrial) - Competitive Landscape, Global Forecasts & Trends to 2018”analyzes and studies the major market drivers, threats, opportunities, and challenges in North America, Europe, Asia and Rest of World
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The global market is categorized into three broad segments, namely, type, applications, and geography. The global market, by type, comprises of CsI, NaI, GoS and others. The NaI scintillators market accounted for the largest share of the global market in 2013 and is also slated to grow at the highest CAGR from 2013 to 2018. The global Inorganic Scintillators market was valued at $230 million in 2013 and is expected to grow at a CAGR of 5.4% from 2013 to 2018, to reach $299.2 million by 2018.
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Technological advancements in inorganic scintillators rise in security threats to drive the radiation detection market for homeland security, increase in PET/CT scans, increasing incidence of cancer, paramount concern for safety in the wake of Fukushima disaster are the key factors that are expected to drive the growth of this market. The primary factors that are restraining the growth of this market include shortage in nuclear power and radiation workforce, decline of number of power plants and shortage of Helium-3.
The global inorganic scintillators market witnesses high competitive intensity as there are many big and small firms with similar product offerings. These companies adopt various strategies (innovations, acquisitions, and geographic expansions, among others) to increase their market shares and to establish a strong foothold in the global market.
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North America accounted for the largest share of the global market, followed by Europe and Asia. However, Asia is slated to grow at a fastest CAGR from 2013 to 2018. By 2018, the Inorganic Scintillators market is expected to experience the highest growth in the Asian region with emphasis on China, India, and Southeast Asian countries. The high growth in these regions can be attributed to nuclear power developments and increased safety measures in China, Japan’s decision to continue with the use of nuclear power, increase in the number of nuclear power plants in India, Vietnam, and South-East Asia.
The major players in the global inorganic scintillators market include, Hamamatsu Photonics K.K. (Japan), Radiation Monitoring Devices, Inc. (U.S.), Argus Imaging B.V. (Netherlands), Toshiba Corporation (Japan), Mirion Technologies, Inc. (U.S.), Saint-Gobain SA (France), Hitachi Metals America Ltd. (U.S.), Canberra Industries, Inc. (U.S.) and Ludlum Measurements, Inc. (U.S.), among others.
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