by 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 4.8% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
Liquid scintillation analyzers are instruments used to measure low-level radiation emission from samples in aqueous solutions or organic solvents. They work on the principle of liquid scintillation counting, where a scintillation cocktail containing fluors and a solvent is used to dissolve or suspend the radioactive sample. When a radioactive isotope undergoes decay, it emits radiation that excites the molecules of the scintillation cocktail. As the excited molecules return to the ground state, they emit light photons that are measured by photomultiplier tubes. Modern liquid scintillation analyzers are automated benchtop instruments with advanced features like alpha/beta discrimination, counting efficiency traceability, and data analysis software. They find widespread applications in various fields including pharmaceuticals, life sciences research, environmental monitoring, and quality control testing.
Market key trends:
One of the key trends spurring growth of the liquid scintillation analyzers market is the rising adoption of bioanalytical techniques like cell proliferation assays, cytotoxicity tests, and receptor-binding assays. Liquid scintillation counting provides high sensitivity and is a preferred technique for quantifying radioisotopically labeled molecules in complex biological samples. It allows measurement of very low levels of radioactivity emitted by compounds bound to biomolecules. Moreover, liquid scintillation analyzers offer advantages like rapid sample processing, better statistics, and ability to simultaneously measure multiple samples. This makes them suitable for diverse bioanalytical applications like analysis of biochemical interactions and fate of pharmaceutical compounds in living systems. Their use is growing with the expanding horizons of biosciences and drug discovery research.
Porter’s Analysis
Threat of new entrants: The threat of new entrants is moderate. While the market is large in size, long time it takes to develop new products and technologies, high cost of R&D and production acts as a barrier for new players to enter.
Bargaining power of buyers: The bargaining power of buyers is high. Buyers have high bargaining power due to presence of many established players providing substitutable products.
Bargaining power of suppliers: The bargaining power of suppliers is low. Suppliers have low bargaining power due to presence of many suppliers for raw materials used in manufacturing of liquid scintillation analyzers.
Threat of new substitutes: The threat of threat of new substitutes is moderate. While new substitutes have emerged, well-established players and brand loyalty acts as a barrier for adoption of new substitutes.
Competitive rivalry: is high due to presence of many international and domestic players competing on the basis of innovations, branding and pricing.
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 R&D investments in life science industry along with rising government spending on healthcare.
Regional analysis: North America dominated the global liquid scintillation analyzer market in 2023 with market share of over 35%, owing to the presence of large number of pharmaceutical & biotechnology companies in the region and huge healthcare expenditure.Asia Pacific is expected to exhibit the fastest growth over the forecast period, driven by increasing population, healthcare investments and favourable regulatory scenario.
Key players: 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., Hach. Key players are focusing on new product launches, partnerships and strengthening their distribution networks to consolidate their market positions.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
