According to IMARC Group's latest research report, titled "Scintillator Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027", offers a comprehensive analysis of the industry, which comprises insights on the scintillator market share. The report also includes competitor and regional analysis, and contemporary advancements in the market. The global scintillator market reached a value of US$ 512.3 Million in 2021. Looking forward, IMARC Group expects the market to reach US$ 687.3 Million by 2027, exhibiting at a CAGR of 4.9% during 2022-2027.
Scintillator Market Outlook:
A scintillator represents a material that can consume high-energy photons and incident particles, such as protons, neutrons, electrons, etc., to emit pulses of light. It is cost-effective and durable and also provides high density, fast operation speed, radiation hardness, etc. A scintillator is manufactured by using materials, including inorganic crystals, noble gases, organic liquids, etc. It assists in converting the gathered energy into a visible or ultraviolet range of photons which confirms detection by photomultipliers and photodiodes. In addition to this, as compared to other types of radiation detectors, scintillators are more sensitive to deposited power and have a faster response time with simpler, reliable, and cost-efficient construction and operation. Consequently, they find extensive applications across the healthcare sector, nuclear power plants, homeland security, manufacturing industries, gamma cameras, computed tomography (CT) scanners, etc.
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Scintillator Market Growth:
The growing prevalence of lifestyle diseases and the inflating need for this material in various medical equipment are among the primary factors driving the scintillator market. Besides this, it is also used in nuclear and particle physics to monitor atomic materials and identify radioactive contamination, which is further augmenting the market growth. Moreover, the widespread adoption of scintillators as alternative sources and the development of nuclear energy facilities are also catalyzing the global market. Apart from this, the rising popularity of high-end innovative, and inexpensive materials and extensive investments by leading manufacturers in R&D activities are acting as significant growth-inducing factors. Furthermore, the increasing consumer awareness towards national security is expected to bolster the scintillator market in the coming years.
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