Inorganic Scintillators Market: By Product Type (Alkali Halides, Oxide Compounds, and Rare Earth Metals) Material Type (Sodium Iodide, Cesium Iodide, Lutetium Oxyorthosilicate & Lutetium-Yttrium Oxyorthosilicate, and Others), Application (Medical Imaging, Nuclear Medicine, Radioprotection, Oil Exploration, Process Industry, Life Sciences, and Others), End Users (Healthcare, Homeland Security & Defense, Nuclear Power Plants, Industrial Applications) and Geography  

Inorganic Scintillators Market size was valued at USD 353.7 million in 2022 which is expected to grow at a CAGR of 5.5% over 2023-2029. Inorganic scintillators are clear crystals that have a luminescence property that is excited by radiation. These scintillators are produced at high temperatures with the help of alkali oxides and halides. These crystals are primarily used for the detection of radiation as it is highly stable in powerful ionizing radiations. The inorganic scintillators are used in medical, defense, security, etc. The growth of nuclear plants and rising security for homes can lead to the growth of the inorganic scintillators market. Moreover, the rising prevalence of chronic diseases and progress in radiographic system technology are some primary factors that can boost the inorganic scintillators market growth. Apart from these, increasing the use of C.T or PET can also accelerate the market in the future. In order to get the image of a cancer tumor, physicians require high-intensity radiation on cancer cells after the PET scan. Thus, the increasing prevalence of cancer can also drive the global market further. However, some factors such as the absence of skilled professionals and a smaller number of power plants can restrain the growth of the market. Uneven retrieval in different geographies and end markets can hinder market growth. Companies should focus on operational efficacy and include digitally connected methods, cost management, and expanding supply bases that can create an opportunity for the growth of the global inorganic scintillators market. Moreover, instead of customizing the entire product characteristics, it is better to improvise products that fulfill a particular application is an emerging trend in the market.

Inorganic Scintillators Market Key Developments:

• In August 2021, Hitachi, Ltd. acquired Thales' Ground Transportation Systems Business. The acquisition has increased the sales of the company and also increased its production capacity.
• In June 2021, in the 16th edition of the multi-comfort student's competition, Saint-Gobain was announced as the winner among 200 universities and 38 countries. This helped the company in acquiring more customers globally and growing its business.