by Liquid scintillation analyzers are nuclear instruments used for measuring low-level radioactivity in scintillation samples. They are commonly employed in medical and pharmaceutical laboratories for detection of radioisotopes in biological assays and samples. The devices find widespread use in analytical techniques such as liquid scintillation counting (LSC) which helps detect alpha, beta and Auger electron emissions from radioisotopes in solution.
The global liquid scintillation analyzer market is estimated to be valued at US$ 1.41 Bn in 2023 and is expected to exhibit a CAGR of 5.8% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Dynamics:
The growth of the global liquid scintillation analyzer market is primarily driven by the rising adoption of these instruments in laboratories and pharmaceutical industries. Liquid scintillation analyzers provide high precision and accuracy in measurements, as well as automated sample processing which allows laboratories to analyze large number of samples easily. These advantages have led to increased demand from end-use industries. Additionally, ongoing technological advancements including improved scintillation detectors and emergence of compact analyzers are further fueling the market growth over the forecast period.
SWOT Analysis
Strength: Liquid scintillation analyzers provide high sensitivity and accuracy for radioactive measurement in samples. They offer various detection capabilities that help detect low-level radioactive emissions. The instruments also deliver fast analysis, which enables high sample throughput.
Weakness: Liquid scintillation analyzers require expensive scintillation cocktail reagents and periodic maintenance. The instruments also need well-trained personnel for operation. High initial costs of these analyzers could restrict their adoption, especially in cost-sensitive markets.
Opportunity: Growing R&D activities in the healthcare and pharmaceutical industries offer opportunities for wider utilization of liquid scintillation analyzers. Increasing investments by governments worldwide to enhance nuclear medicine diagnostic capabilities will also boost demand. Further, the rising environmental monitoring requirements create scope for additional analyzer installation.
Threats: Availability of alternative detection technologies, such as alpha/beta counting systems and gamma spectroscopy instruments, poses competition. Regulatory uncertainties related to radioactive material usage could negatively impact the market. Rise in costs of raw materials may increase analyzer prices.
Key Takeaways
The Global Liquid Scintillation Analyzer Market Size is expected to witness high growth. The growing applications in healthcare, food testing, environmental monitoring and other industries will drive the demand for liquid scintillation analyzers between 2023 and 2030. The global liquid scintillation analyzer market is estimated to be valued at US$ 1.41 Bn in 2024 and is expected to exhibit a CAGR of 5.8% over the forecast period 2023 to 2030.
North America currently accounts for the largest share of the global market owing to presence of prominent players and robust healthcare infrastructure in the region. However, Asia Pacific region is expected emerge as the fastest growing market for liquid scintillation analyzers stimulated by increasing R&D investments by pharmaceutical and biotechnology players in major countries like China and India. Additionally, growing healthcare expenditure and initiatives aimed at enhancing nuclear medicine diagnostic capabilities will propel the demand. Japan also represents a dominant country in the region supported by well-established healthcare system and presence of leading life sciences companies.
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Key players operating in the liquid scintillation analyzer market are Bosch Rexroth, PerkinElmer, Hitachi, Beckman Coulter and Hidex. Bosch Rexroth has a wide portfolio of liquid scintillation analyzers used across various industries. PerkinElmer is one of the major players focusing on innovation and product launch.
Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
