Caesium Iodide Market Size, Share, Growth, And Global Industry Analysis, By Type (CsI (Tl), CsI (Na), And CsI Pure), By Application, (Healthcare, Industrial, And Others), Covid-19 Impact, Latest Trends, Segmentation, Driving Factors, Restraining Factors, Key Industry Players, Regional Insights, and Forecast From 2023 To 2031

Updated On: 04 September 2023

CAESIUM IODIDE MARKET REPORT OVERVIEW

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The global caesium iodide market size was USD 348.5 million in 2022 and is projected to touch USD 598.77 million by 2031, exhibiting a CAGR of 6.2% during the forecast period. 

Caesium iodide is a member of the alkali group of metals. In-room temperature it occurs as a liquid. It is one among those three metals that occur liquid at room temperature; the other two are mercury and gallium. It is also an electromagnetic scintillator of calorimetry in physics experiment particles. It is an ionic compound of iodine and caesium. It is majorly used as an input phosphor in an X-ray image intensifier tube, which is found in fluoroscopy equipment. The caesium iodide cathodes are extremely effective at extreme ultraviolet wavelengths. It is also known as CSI. It is a dense and fast flashing material with a comparatively less light yield that boosts significantly with cooling.

Caesium iodide is also used as a beam splitter in the spectrometers of Fourier transform infrared (FTIR). Its transmission range is wider than that of common potassium bromide beam splitters. The potassium bromide beam splitters work in the far-infrared range. However, the optical-quality crystals are soft and hard to polish or separate. The optical-quality crystals must be coated and kept in a desiccator to reduce the interaction of atmospheric water vapor.

COVID-19 Impact:  Social Distancing Norms to Hinder Market Growth

The global COVID-19 pandemic has been unprecedented and staggering, with phage therapy experiencing higher-than-anticipated demand across all regions compared to pre-pandemic levels. The sudden spike in CAGR is attributable to the caesium iodide market growth and demand returning to pre-pandemic levels once the pandemic is over.

The pandemic outbreak negatively impacted the sector due to various emerging countries being forced to go into lockdowns. Various sectors were forced into arbitration due to restrictions on the movement of the general population. The pandemic imposed stringent regulations, which caused further disruptions in exports, triggering large-scale manufacturing interruptions.

LATEST TRENDS

"Highest Detective Quantum Efficiency Rating of Caesium Iodide to Drive Market Growth"

The increasing demand for X-ray devices in medical and clinics for various medical purposes is anticipated to drive the trend in the market. The caesium iodide offers clear imaging and compliance with the X-ray. Detective quantum efficiency (DQE) is one of the most significant considerations while investigating digital radiography equipment. CSI has some of the highest ratings in DQE compared to other detectors.  It also detects rendered images of higher quality. 

CAESIUM IODIDE MARKET SEGMENTATION

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•  By Type Analysis

By type, the market is segmented into CsI (Tl), CsI (Na), and CsI Pure.

• By Application Analysis

Based on application, the market is classified into healthcare, industrial, and others.

The healthcare segment is anticipated to hold the major share of the market due to the constantly increasing number of patients suffering from various illnesses and health conditions globally. The rising numbers of patients are anticipated to boost the x-rays demand, expanding the product demand. 

DRIVING FACTORS

"Patient’s Least Exposure to Higher Radiation to Surge the Market Growth"

The detectors don’t require much radiation compared to other detectors, which increases their adoption. The patient is not exposed to the doses of higher radiation. The medical industries are expected to incline more toward adopting caesium iodide due to their higher detective efficiency.  

"Low Cost and Steady Adoption to Bolster Product Demand"

The caesium iodide detectors are manufactured at a cheap price. Thus, it costs less than other detectors available on the market. Its cost-effectiveness increases the product demand. Additionally, it has minimal scattering for possibly the best resolution. The rapid adoption of caesium iodide as scintillators in various electronic devices and medical equipment is estimated to increase the product demand. 

RESTRAINING FACTORS

"Price Fluctuation in Product Price to Hold Back the Market Growth"

The fluctuation in the price of raw materials is anticipated to hinder the expansion of the caesium iodide market share. The raw material price fluctuation also fluctuates the product's price, which may slow down the adoption of the product. Moreover, the pandemic outbreak had a negative impact on the market. These factors are anticipated to hinder the growth of the market. Low resilience to mechanical and thermal stress due to the scarcity of cleavage planes may limit product adoption in the market. 

CAESIUM IODIDE MARKET REGIONAL INSIGHTS

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"Rising Health Concerns Among the Population to Bolster Growth in North America"

North America is anticipated to hold the highest caesium iodide market share due to the region's expansion of the construction industry. The frequency of photoelectron extraction that depends on the field of the filling gas and photocathode layer is also anticipated to be the factor surging growth in the market. Additionally, the rising health awareness among the population is also expected to drive growth in the region. 

Europe is anticipated to hold the largest revenue share as the region used to be the largest manufacturing market. This is due to presence of key players in the region. The higher concern toward health to boost the demand for product and garner the region’s growth. 

KEY INDUSTRY PLAYERS

"Key Players Employ Mergers & Collaborations to Push for Market Dominance "

The dominant players are focused on capturing a large market share to retain their global position. These strategies include employing mergers & acquisitions, collaborations, and introducing new products in their portfolio. Key players possessing strategic partnerships and AI and ANN (Artificiial Neural Network) capabilities are expected to garner the company’s product portfolio. Other players are focused on increasing their investments in R&D activities to capture the consolidated market share. 

List of Market Players Profiled

• Saint Gobain S.A. (France)
• Amcrys (Ukraine)
• Hamamatsu Photonics K.K. (Japan)
• Scintacor (U.K.)
• Radiation Monitoring Devices, Inc. (U.S.)
• EPIC Crystal Company Limited (India)
• Shanghai SICCAS (China)
• Shanghai Ucome (China)

INDUSTRY DEVELOPMENT

• April 2022- SKS Hospital installed India’s first DRX Plus 2530C detector named Carestream. The detector will be used with their already existing DRX Revolution mobile DR System. This detector is small in size and comprises caesium iodide technology. The CSI has high resolution and can capture the smaller anatomical details in pediatric patients. 

REPORT COVERAGE

The report covers the demographic analysis of the market, which shows the dominant regions existing in the global market. It also emphasizes the new strategic activities occurring in the market. The report also depicts the ongoing and upcoming opportunities for the caesium iodide market growth. The recent developments are included in the report to offer insights into the market to our stakeholders. The report offers an all-inclusive compiled report of the market. The report on analysis of regions is also included, which covers the dominating region of the global market. The key companies and their headquarters are also mentioned in the report to provide detailed information about the major players existing in the market. Companies are further adopting various market strategies to expand in the market.