New York, NY -- (SBWIRE) -- 12/22/2020 -- The inorganic scintillators market is set to attain a valuation of USD 418.1 million by 2027, registering a CAGR of 4.7%, according to the latest report by Reports and Data. The applications of inorganic scintillators are widespread in several industries including healthcare, nuclear power plants, homeland security and defense, industrial applications.

In the coming years, the market is anticipated to witness the highest growth in the Asia-Pacific region. This can be attributed to Japan's decision to continue with the use of nuclear power, high spending on homeland security in Asia, high growth expected in China's nuclear power industry, presence of local and global players in the Chinese market, increasing installations of nuclear imaging systems in India, and the increasing number of nuclear power plants in India.

Key participants include:

Hamamatsu Photonics K.K., Saint-Gobain S.A., Dynasil Corporation of America, Detec, Hitachi Metals Group, Toshiba Materials Co., Ltd., Rexon Components, Inc ., Scintacor, Amcrys, and EPIC Crystal Co., Ltd, among others.

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Market Drivers

The major driving force for the development of the inorganic scintillators is the growing market demand for inorganic scintillators materials from security, healthcare, and defense. Rising focus on nuclear power and improvement in the security coupled with increasing demand for medical equipment is expected to result in the market expansion over the forecast period. The rising threat of terrorist attacks has created the need for radiation detection materials.

Companies considered and profiled in this market study:

Hamamatsu Photonics K.K., Saint-Gobain S.A., Dynasil Corporation of America, Detec, Hitachi Metals Group, Toshiba Materials Co., Ltd., Rexon Components, Inc ., Scintacor, Amcrys, and EPIC Crystal Co., Ltd, among others.

For the purpose of this report, Reports and Data have segmented into the Inorganic Scintillators market on the basis of type, material, application, and region:

Type Outlook (Revenue, USD Million; 2017-2027)

Alkali Halides
Oxide Compounds
Rare Earth Metals

Material Outlook (Revenue, USD Million; 2017-2027)

Sodium Iodide
Cesium Iodide
Lutetium Oxyorthosilicate & Lutetium–Yttrium Oxyorthosilicate
Bismuth Germanate
Others

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Application Outlook (Revenue, USD Million; 2017-2027)

Healthcare
Homeland Security and Defense
Nuclear Power Plants
Industrial Applications
Others

Regional Analysis:

According to 2019 reports, the North America was the leading region in the inorganic scintillators market and is expected to maintain the same position over the forecast period. Europe was the second-largest market shareholder after North America due to increasing extensive defense research and development in the region. The Asia-Pacific region is expected to register the market growth over the forecast period due to presence of local and global players and advanced nuclear power industry in China. In India, increasing number of nuclear power plants are anticipated to drive the market growth of the inorganic scintillators in this region.

Further key findings from the report suggest:

-The lutetium-yttrium oxyorthosilicate & lutetium oxyorthosilicate material is expected to grow at a decent CAGR of 4.5% during the forecast period. This is mainly because of its benefits like increasing research activities in the field of nuclear physics and high-energy and growing demand for PET scanners across the globe.

-Among the material segment of the Inorganic scintillators market, sodium iodide is leading the market at present with a market share of 37.6%, and it will continue to dominate the market during the forecasted period. Cesium Iodide is expected to register the highest CAGR of 5.0% in the next few years.
Among the regional segment of the Inorganic scintillators market, North America is expected to register the highest CAGR of 5% over the forecasted period.

-The U.S. is the largest market shareholder in North America because of the rising adoption of nuclear imaging systems, an increase in the number of nuclear power plants in the U.S., increasing prevalence of cancer, government initiatives, rising number of conferences, and growing security concerns.

-Among the application segment of the inorganic scintillators market, the healthcare sector is leading the market at present, and it will continue to dominate the market with an estimate to register the highest CAGR of 4.8% during the forecasted period...Continued

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Market segments segregated on the basis of type, application, and geography.
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