Liquid scintillation analyzers are used for detecting radioactive materials in liquid samples. They involve mixing a scintillating chemical with a liquid sample containing radioactive materials. When radioactive particles interact with the scintillating chemical, bursts of light or flashes are produced. These flashes are counted by photomultiplier tubes and analyzed by the built-in software to quantify radioactive materials in the samples. Liquid scintillation analyzers find wide applications in fields such as medical research, pharmacology, environmental monitoring, and homeland security.
The Liquid Scintillation Analyzer Market is estimated to be valued at US$ 1.41 Bn in 2023 and is expected to exhibit a CAGR of 4.8% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Dynamics:
Increasing investments in life science research globally is a major driver for the liquid scintillation analyzer market. Rapid growth in the biotechnology and pharmaceutical industries has boosted research activities involving use of radioactive tracing agents. This is augmenting the demand for liquid scintillation analyzers. Additionally, rising environmental pollution levels are creating need for monitoring radioactive contamination in air, water, and soil samples. Liquid scintillation analyzers help detect alpha, beta and gamma emitting radionuclides and aid in environmental monitoring efforts. Stringent regulatory guidelines regarding wastewater discharge and ambient radiation levels further support market growth.
Segment Analysis
Liquid scintillation analyzer market can be segmented into medical analyzer and non-medical analyzer. Medical analyzer segment currently dominates the market and is expected to continue its dominance over the forecast period. Rapid expansion and technological advancements in medical sector especially in oncology cancer research which requires liquid scintillation analyzer for diagnosis and treatment monitoring is driving the growth of medical analyzer segment.
PEST Analysis
Political: Government policies supporting healthcare industry development and funding for research & development activities promoting usage of advanced medical devices like liquid scintillation analyzers.
Economic: Increasing healthcare spending globally along with high disposable income driving demand for advanced medical technologies.
Social: Rising prevalence of chronic diseases and growing focus on early disease diagnosis boosting market growth.
Technological: Continuous innovations introducing user-friendly analyzers with faster results and higher productivity benefiting market expansion.
Key Takeaways
The Global Liquid Scintillation Analyzer Market Growth is expected to witness high, exhibiting CAGR of 4.8% over the forecast period, due to increasing focus on drug discovery and life science research. The market size for liquid scintillation analyzer is estimated to reach US$ 2.01 Bn by 2030 from US$ 1.41 Bn in 2023.
North America dominates the liquid scintillation analyzer market currently accounting for over 35% share due to technological advancements and extensive research activities in the region. Asia Pacific is expected to exhibit fastest growth over the forecast period supported by expanding pharmaceutical industry and growing medical sector in emerging economies like China and India.
Key players operating in the liquid scintillation analyzer market are PerkinElmer, LabLogic Systems Ltd., Hidex Oy, Intertechnique, LabLogic Systems Limited, AMETEK Inc, Beckman Coulter Inc, Berthold Technologies GmbH & Co. KG, Bio-Rad Laboratories Inc., Hach. The market is highly concentrated with top four players accounting for over 60% share. New product launches and strategic collaborations are some of the key strategies adopted by leading industry players to gain competitive edge in the market.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
