July 16, 2024

The Liquid Scintillation Analyzer Market Is Driven By Rising Demand In Pharmaceutical Applications

Liquid scintillation analyzers play a crucial role in the pharmaceutical industry for analyzing alpha, beta, and gamma emitting radionuclides detection. Liquid scintillation analyzers use scintillation cocktails and detectors to detect ionizing radiations emitted by radioactive samples dissolved or suspended in organic solvents. With stringent regulations regarding the use of radiation in research, safety become a priority and hence liquid scintillation analyzers provide an efficient technique for radiation measurement. Wider applications in medical imaging and higher safety requirements for radioactive materials disposal are augmenting the growth of liquid scintillation analyzers.

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 24.% over the forecast period 2023 To 2030, as highlighted in a new report published by Coherent Market Insights.

Market key trends:

The key trend gaining prominence in the liquid scintillation analyzer market is the adoption of portable analyzers. Portable liquid scintillation analyzers are compact, lightweight, and are designed for field work in areas such as epidemiology, environmental monitoring. They help analyze a wide range of isotopes including carbon-14 (14C), hydrogen-3 (3H), sulfur-35 (35S), and phosphorus-33 (33P) on site. Additionally, technological advancements in liquid scintillation analyzers like higher accuracy and precision, better resolving capacity, and incorporation of advanced technologies such as Cherenkov counting and alpha/beta separation are expanding their applications. Automation in counting process, automatic sample handling systems are also enhancing efficiencies.

Porter’s Analysis

Threat of new entrants: The Liquid Scintillation Analyzer Market requires huge capital investment for manufacturing plants. Complicated production processes also pose a challenge for new entrants.

Bargaining power of buyers: There are many established players in this market. This gives buyers sufficient power to negotiate on prices.

Bargaining power of suppliers: Suppliers have moderate bargaining power due to availability of alternative suppliers.

Threat of new substitutes: There are few alternative technologies available that can substitute liquid scintillation analyzers. This reduces threat from substitutes.
Competitive rivalry: Being a highly fragmented market, competitive rivalry is high among existing players.

Key Takeaways

The Global Liquid Scintillation Analyzer Market Demand is expected to witness high growth. Regional analysis comprises the North America region currently dominates the market owing to presence of major players and high research and development spending in life sciences industry. Europe and Asia Pacific regions are also expected to exhibit significant growth.

Key players operating in the Liquid Scintillation Analyzer market are Sumitomo Electric Industries, Ltd, Furukawa Electric Co. Ltd, Leoni AG, Yazaki Corporation, and Aptiv PLC. Sumitomo Electric Industries holds leading market share owing to its extensive product portfolio and global presence. Furukawa Electric focuses on new product development to strengthen its position.

The Liquid Scintillation Analyzer market in the Asia Pacific region is projected to grow at the highest CAGR during the forecast period. Growing life sciences research activities in countries like China and India is driving the demand. In addition, increasing investments by government and private players to develop advanced technologies will support regional market growth.

Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it