by Liquid scintillation analyzers are used for detection and measurement of radioactive emissions released from samples. They provide accurate and cost-effective technique for beta and alpha particle counting.
The global Liquid Scintillation Analyzer Market is estimated to be valued at US$ 1.41 Bn or Mn 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 key trends:
Growing adoption of radioisotope techniques in drug development is one of the key trends in liquid scintillation analyzer market. Radioisotope techniques such as radioligand binding assays play crucial role during drug discovery and development activities. They are widely used for understanding pharmacokinetic and pharmacodynamic profiles of new drug candidates. Growing R&D expenditure by pharmaceutical companies is thus favoring the demand for liquid scintillation analyzers.
SWOT Analysis
Strength: Liquid scintillation analyzer provides accurate and precise measurement of radioactivity. It offers high detection efficiency and wide dynamic range.
Weakness: High installation and maintenance cost of liquid scintillation analyzer limits its adoption. Requirement of stable cooling units also increases the overall cost.
Opportunity: Growing radiometric applications in healthcare sector will drive the demand for liquid scintillation analyzers. Rising R&D expenditure life sciences industry presents an opportunity.
Threats: Availability of cheaper alternative technologies like gamma counters pose a threat. Stringent regulatory guidelines increases compliance cost.
Key Takeaways
The Global Liquid Scintillation Analyzer Market Size is expected to witness high growth, exhibiting CAGR of 4.8% over the forecast period, due to increasing demand from pharmaceutical and biotechnology companies. Rapid advancement in radiometric assay techniques is driving the growth of this market.
North America dominated the global liquid scintillation analyzer market in 2023 owing to large presence of clinical research organizations and pharma companies in the US and Canada. Asia Pacific is anticipated to witness fastest growth over the forecast period supported by rising healthcare expenditure, improving research infrastructure and growing outsourcing of clinical trials to 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., and Hach. Major players are focusing on new product launches and expansion in emerging markets to strengthen their market position.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
