Liquid Scintillation Analyzer Market Size, Share, Growth, And Industry Analysis, By Type (New Generation Automatic Counter and Conventional Coincidence Counter) By Application (Medical and Healthcare, Nuclear and Power Plants, Homeland Security, and Others), Regional Forecast to 2027

Updated On: 13 March 2023

Report Overview

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The global liquid scintillation analyzer market size was valued at USD 20915 million in 2021. The global COVID-19 pandemic has been unprecedented and staggering, with the liquid scintillation analyzer market experiencing higher-than-anticipated demand across all regions compared to pre-pandemic levels. Per our research, the market is expected to reach USD 27714 million by 2027, exhibiting a CAGR expansion of 4.8% during the forecast period. The rapid and instant rise in CAGR is attributable to the market's growth and demand returning to pre-pandemic levels once the pandemic is over.

To compute the radioactivity of low-energy radioisotopes, usually alpha-emitting and beta-emitting isotopes, liquid scintillation counting (LSC) is a commonly used technique. In this method, the active material is mixed with the liquid, and then the photon emissions are counted. The liquid scintillation analyzer fulfills the purpose of precise counting due to the close contact of the activity with the scintillator. There is a rising need for liquid scintillation analyzers in the global market because of their applications in different industries. 

The liquid scintillation market is growing because, as compared to different types of radiation detectors, it does the job in less time and is also more sensitive to deposited energy. The market was affected by the pandemic, but it still survived because of the production of a product that is economical, easy to use, and reliable. Liquid scintillation has various applications. It can be used in national security, manufacturing industries, nuclear plants, high-energy particle experiments, and medical imaging.

COVID-19 Impact: High prices to cover the loss of the market

The world was not prepared for the pandemic. No market assumed the sudden lockdown and financial crisis situation. The COVID-19 pandemic influenced the majority of industries. The liquid scintillator market was one of them as well. The demand for liquid scintillation has fallen across the globe because of the lockdowns and financial crisis. No strategy was influential in the pandemic. The market players did their best by introducing better and more developed products. This might not be helpful during the pandemic, but it created a scope for future advancement in the market.

Latest Trends

"Innovation to add new features to old devices"

Everything today, starting from a pen drive to the aircraft, is modified to add new and better features to it—one such invention in the liquid scintillation market is the introduction of the 600 Sle. The device gives better performance as it is highly efficient in counting operations. It comes along with a counting mode which is luminescence free. In the device, there is also the triple-to-double coincidence ratio method, which simplifies absolute counting without the need any external radioactive source. Along with all these benefits in the operations, one extra point is that it is easy to use and has a stylish appearance.

Segmentation

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• By Type Analysis

According to type, the market can be segmented into New Generation Automatic Counter and Conventional Coincidence Counter.

 In terms of services, New Generation Automatic Counter is the largest segment.

• By Application Analysis

Based on application, the market can be divided into Medical and Healthcare, Nuclear and Power Plants, Homeland Security, and Others.

In terms of application, Nuclear and Power Plants is the largest segment.

Driving Factors

"Technological advancement leads to propelling demand in the market"

Currently, the global liquid scintillation analyzer and service market is witnessing a positive trend, and this is because of the rapid pace of the evolution of new, technologically progressive, and convenient analytical appliances. The global liquid scintillation analyzer market is also being boosted by a decline in the general cost of the production of devices and the growing number of collaborations being done in critical regions. The liquid scintillation analyzer market growth is positively affected by technological advancement and reduced costs. 

"User-friendly analyzers induce demand in the market"

Recently, growing and developing countries have paid more attention to their military forces. They want to strengthen their defense system and are investing more in defense which has increased demand for liquid scintillation analyzers. Today customers are also in need of a product that is user-friendly. The characteristic of being user-friendly increases the demand for Liquid scintillation analyzers.  

Restraining Factors

"Tough transportation becomes the reason for a negative trend in demand"

Even though the device comes up with many benefits, the fact that it is a little heavy and oversized makes it hard to carry. Even if the modifications are done, it will take time to become accessible to all.  Also, the maintenance of the device is not a very easy task to be done. Its tendency to take up and retain moisture calls for keeping a close eye on it.

Regional Insights

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"North America dominates the Market Due to inducement to invest in military forces "

One of the most significant applications of liquid scintillation analyzer is in the protection of the soldiers who protect the civilians and fight for the country. Recently, the security of the armed forces has become a priority of every government. They want to safeguard them, and a growing number of nuclear projects have boosted the demand in the liquid scintillation market. Countries in this region seek to invest in strengthening their defense forces, propelling the market growth in the area. Recently, there has been a shift to the modernization of defense, and this, in turn, influences the usage of radiation detection instruments. 

Key Industry Players

"Key Players Focus on the effective marketing strategies"

Among various reasons, the prime reason for success is the planning and policies of the companies. Thinking and implying successful marketing strategies helps the key players to gain maximum liquid scintillation analyzer market share. To keep up with the dynamic and competitive market, they also put in efforts to develop their products to have a good product portfolio. Leading companies keep an eye on their past and present performance to find deviations and corrective measures to gain dominance in the market. They are paying attention to not only their effective strategies but also their competitors. 

List of Market Players Profiled

• Hidex
• Perkin Elmer (Wallac)
• Hitachi

Report Coverage

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Furthermore, the post-COVID-19 pandemic’s effect on international market restrictions and a deep understanding of how the industry will recover and strategies are also stated in the report. Finally, the competitive landscape has also been examined in detail to provide clarification of the competitive landscape.