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According to the market research analysts at Technavio, the global scintillator market will grow steadily and will post a moderate CAGR of more than 5% over the forecast period. With increasing homeland security measures, the global market for scintillators is anticipated to have a positive outlook in the coming years. The emergence and proliferation of terrorist organizations around the world have led to an unbalanced global geopolitical climate. Thus, security and defense organizations across the globe are striving hard to tighten their homeland security to prevent human loss. For instance, post the September 2001 terrorist attacks, the Department of Homeland Security in the US has emphasized the requirement of materials that can detect radioactive substances to prevent radiological attacks. This has resulted in the augmented use of scintillator detectors in homeland security equipment to detect radiation from the source.
One of the emerging trend spurring this market’s growth prospects is the increasing number of nuclear plants, especially in countries like China and Russia. These countries are planning to construct over 60 nuclear reactors over the next four years. Most of the upcoming plants are located in Asia due to the presence of fast-growing economies and a significant shortage of electricity in the region. Therefore, with the growing number of nuclear power plants in this region, the demand for radiation detectors will increase, and will, in turn, translate into the demand for scintillators until the end of 2020.
The inorganic scintillator segment dominated the global scintillator market and is expected to reach more than USD 337 million by 2020. The inorganic scintillator segment comprises materials such as cesium iodide, NaI, and galactooligosaccharides, which are undergoing significant technological advances because of the growing importance of homeland security in nations across the globe. These technological advances have also increased the use of inorganic scintillators in the healthcare, industrial, and nuclear power plant environments.
In terms of geography, the Americas dominated the global scintillator market and accounted for a market share of more than 40% during 2015. Factors such as the state-of-the-art homeland security measures in the US, the presence of numerous nuclear power plants, and the use of radiation therapy to cure cancer are likely to contribute to this market’s growth in the Americas.
The global scintillator market is highly fragmented due to the presence of several local and regional vendors offering similar products. The leading vendors combine solutions and provide customers with an integrated offering at cost-effective prices, which increases market competition and affects the market position of small vendors. The market is also characterized by massive R&D investments and government funding for research institutions as raw material procurement and innovations are critical for the market growth.
Key vendors in this market are -
Other prominent vendors in the market are Argus Imaging, Rexon Components, Scintacor, SCINT-X, Siemens, and Toshiba Materials.
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PART 01: Executive summary
PART 02: Scope of the report
PART 03: Market research methodology
PART 04: Introduction
PART 05: Technology landscape
PART 07: Market segmentation by type
PART 08: Market segmentation by application
PART 09: Geographical segmentation
PART 10: Key leading countries
PART 11: Market drivers
PART 12: Impact of drivers
PART 13: Market challenges
PART 14: Impact of drivers and challenges
PART 15: Market trends
PART 16: Vendor landscape
PART 17: Appendix
PART 18: Explore Technavio
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