The global inorganic scintillators market is expected to grow with an impressive CAGR during the forecast period 2016-2022. Inorganic scintillators are type of crystals which are having scintillation properties by virtue of its crystalline structure; it is grown in high temperature and is made up of alkali halides or oxides. Inclination towards safety after the Fukushima disaster, increasing number of PET/CT scans, growing incidence and prevalence rate of cancer, rising innovation, technological advancements are taking place, and rise in security threats are are the various factors which are majorly driving the global inorganic scintillators market. Less nuclear power and radiation therapy workforce and some other factors are majorly hindering the growth of the global inorganic scintillators market. Some of the opportunities like nuclear power plants are expected to increase in the near future driving the global inorganic scintillators market. There are various challenges which are faced by the market such as low awareness and high expertise required for the global inorganic scintillators market.
The global scintillators market is divided into three segments such as by type, by application and by geography. On the basis of by type segment its sub segments are sodium iodide (NAI), cesium iodide (CEI), and gadolinium oxysulfide (GOS). From all three sub segments sodium iodide (NAI) is the dominating sub segment in terms of the global market share. And on the basis of application segment its sub segments are healthcare, nuclear power plant, industrial, homeland security & defense and others. From all the six sub segments, healthcare and nuclear power plant are the dominating sub segments.
Geographically, the inorganic scintillators market is divided into North America, Europe, Asia Pacific and rest of the World. North America is dominating with the maximum number of market shares of the global inorganic scintillators market due to rise in awareness followed by Western Europe, in 2015 it was accounted that the market share of the North America was 40% which is the highest till date. Dominance of major players in this region is also fueling the global inorganic scintillators market. Asia Pacific is the third largest dominating region in terms of the market share due to growing number of population in this region and rapidly increasing industrial investment.
Some of the key market players of the global inorganic scintillators are Areva, Argus imaging B.V., Bruce power, Bulgarian energy holding, Cameco, Electrabel, Electro nuclear, GE healthcare, Hitachi Metals America, Ltd., Mirion Technologies, Inc., Philips Corporation, Radiation Monitoring Devices, Inc., Siemens, Toshiba Corporation, United uranium, and more. The leading players in the global inorganic scintillators market have adopted collaboration, mergers and expansion as the most preferred strategies to increase their product portfolio and expand their respective market presence. Recently on 13th July 2016, GE Healthcare announced acquisition of Biosafe Group SA. After the acquisition of Biosafe to GE Healthcare it helps to expands GE Healthcare’s end-to-end ecosystem of services, products and solutions for the cell therapy customers. This acquisition expands the technology of GE Healthcare to reach to a number of new cell and therapy types.