by Liquid scintillation analyzers are used to detect and quantify radioactive molecules in samples. They use a process called liquid scintillation counting, where samples containing radioactive isotopes are mixed with a scintillation cocktail in a vial. When the radioactive isotope undergoes decay, it emits radiation that excites the molecules in the scintillation fluid. As these molecules relax, they emit light flashes that are counted by photomultiplier tubes in the analyzer. Liquid scintillation counting offers high detection sensitivity and allows analysis of a wide range of isotopes. It is used for applications like medical research, pharmaceutical QA/QC, environmental monitoring and academic research. Advantages of liquid scintillation analyzers over other radioactivity measurement techniques include high efficiency, low background count rates and ability to analyze thin samples.
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 key trends:
Growing research activities in life sciences and medicine is a major factor driving the demand for liquid scintillation analyzers. Academic institutions are increasingly investing in R&D to study diseases and develop new therapies. Furthermore, stringent regulations regarding product quality and safety are prompting pharmaceutical companies to adopt more advanced analytical techniques like liquid scintillation counting for QC testing. Adoption of these analyzers is also rising in environmental labs for applications such as detection of pollutants. Manufacturers are focusing on development of analyzers with advanced features such as high throughput sampling systems, automated sample handling and improved detection efficiencies. This is increasing productivity for end users. Integration of liquid scintillation analyzers with laboratory information management systems is another ongoing trend enabling streamlined workflow and data management.
Porter’s Analysis
Threat of new entrants: New players in liquid scintillation analyzer market face high entry barriers such as high capital requirement for establishing production facilities and need for developing strong distribution network.
Bargaining power of buyers: Buyers have moderate bargaining power. However presence of numerous player provides choice to buyers.
Bargaining power of suppliers: Suppliers have low to moderate bargaining power as there are multiple component suppliers in the market.
Threat of new substitutes: There are limited substitutes for liquid scintillation analyzer. However, alternatives like fluorescence detection pose low threat.
Competitive rivalry: Market features strong competition among key players like PerkinElmer, Beckman Coulter, and Hidex. Companies compete based on technology, pricing, and services.
Key Takeaways
The Global Liquid Scintillation Analyzer Market Demand is expected to witness high growth, exhibiting CAGR of 4.8% over the forecast period, due to increasing research activities in pharmaceutical and biotechnology industries. North America dominates the market holding over 30% share owing to presence of leading players and developed research infrastructure in the US and Canada. Europe ranks second in the market supported by growing focus on drug discovery in major countries like Germany, UK, and France.
The Asia Pacific liquid scintillation analyzer market is projected to grow at fastest pace during the forecast period. This can be attributed to rising healthcare expenditure, increasing outsourcing of clinical trials to nations like China and India, and growing research funding by various government organizations in the region.
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. Companies compete based on technology, pricing, innovation, and service offerings. Over the past few years, players have adopted strategies such as new product development, acquisitions, and geographical expansion to gain competitive edge
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
