Market Summary:
The global Inorganic Scintillators Market was valued at USD 300 million in 2022 and is anticipated to reach USD 506.84 million by 2032, exhibiting a steady CAGR of 6% during the forecast period. Key drivers for this growth include the increasing demand for nuclear imaging applications in healthcare, heightened investments in research and development endeavors, and a growing emphasis on homeland security.
Inorganic scintillators refer to materials employed in the detection of ionizing radiation. These materials possess distinctive attributes that render them well-suited for radiation detection, including strong light output, high energy resolution, and effective radiation stopping power. Inorganic scintillators find applications in various sectors, including medical imaging, nuclear physics research, homeland security, and environmental monitoring.
The burgeoning need for nuclear imaging techniques within the healthcare sector is a significant catalyst propelling the inorganic scintillators market forward. Nuclear imaging methods such as Positron Emission Tomography (PET) and Single Photon Emission Computed Tomography (SPECT) are commonly used for disease diagnosis and treatment, notably for conditions like cancer and heart disease. In these techniques, inorganic scintillators serve as vital detectors, thereby driving the market’s expansion
Strategic Developments:
- In 2021, Mirion Technologies, Inc. completed the acquisition of the radiation measurement division of Sun Nuclear Corporation. Sun Nuclear Corporation is a provider of solutions for radiation therapy, medical physics, and radiation detection. Mirion Technologies’ strategic acquisition was geared toward expanding its product portfolio within the radiation detection and measurement market.
- In 2020, Saint-Gobain S.A. announced a collaborative venture with Beijing Opto-Electronics Technology Co., Ltd. (BOET), a Chinese manufacturer specializing in radiation detection and measurement equipment. This joint venture was established to bolster Saint-Gobain’s presence in the Chinese market while enhancing its product range.
- Also in 2020, Hamamatsu Photonics K.K. successfully acquired the PET (Positron Emission Tomography) division of Toshiba Medical Systems Corporation, a prominent provider of medical imaging systems. This acquisition was driven by Hamamatsu Photonics’ objective to expand its product offerings in the PET market.
- In the same year, Hitachi Metals, Ltd. unveiled a joint venture with Saint-Gobain S.A., focusing on the manufacturing and sale of inorganic scintillators. This strategic collaboration aimed to leverage Hitachi Metals’ proficiency in material science and Saint-Gobain’s expertise in scintillator technology to pioneer innovative products for the market.
