Global Photon Counter Market to Surpass USD 3.36 Billion By 2031| Growth Market Reports

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Jun 09, 2023, 06:15 ET

PUNE, India, June 9, 2023 /PRNewswire/ -- According to a recent market study published by Growth Market Reports, titled, "Global Photon Counter Market Segments - by Types (Basic Types, Background Compensation Types, and Radiation Source Compensation Types), Primary Materials (Cadmium Telluride (CdTe), Cadmium Zinc Telluride (CZT), and Silicon (Si)), Application (Medical Applications and Non-Medical Industrial Applications), and Region: Size, Share, Trends and Opportunity Analysis, 2023-2031", the market size was USD 1.70 billion in 2022 and is expected to surpass USD 3.36 billion expanding at a CAGR of 7.9% by the end of 2031. The market is propelled by the rising applications of photon counters in medical industries.

Key Market Players Profiled in the Report

Bruker
PerkinElmer In
Thorlabs, Inc.
Varex Imaging
Hamamatsu Photonics K.K.
PicoQuant GmbH
ID Quantique
LASER COMPONENTS
ADVACAM
Micro Photon Devices S.r.l.
Photek

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The report covers comprehensive data on emerging trends, market drivers, growth opportunities, and restraints that can change the market dynamics of the industry. It provides an in-depth analysis of the market segments which include types, primary materials, applications, and competitor analysis.

This report also includes a complete analysis of industry players and covers their latest developments, product portfolio, pricing, mergers, acquisitions, and collaborations. Moreover, it provides crucial strategies that are helping market players to expand their market share.

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Highlights on the Segments of the Photon Counter Market

On the basis of region, the global photon counter market is classified as North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa. North America is expected to dominate the market during the forecast period owing to rising adoption of advanced medical imaging technologies and growing investments in the healthcare sector. The focus on early diagnosis and treatments to prevent the spread of different diseases is another aspect leading to increased adoption of medical imaging technologies in the region.

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Key Takeaways from the Study:

Photon counters count each individual proton rather than producing analog signal which could fluctuate. A digital output pulse is recorded for each proton in the process of counting protons.
The photon counters utilize energy-resolving X-ray detector technology, which is different from the workings of energy-integrating detectors.
A single photon detector is applied for tallying individual photons. This detector sends an electronic pulse for each photon that is detected, opposite to a standard photodetector that generates an analog signal equivalent to a photon flux.
The counting of individual photons eliminates the gain noise that occurs in analog signals. Additionally, photon counters can improve temporal resolution in comparison to conventional detectors due to excess noise factor.
Photon counters have applications in different fields such as medical imaging, fiber-optic communication, quantum information science, DNA sequencing, astrophysics, and material science, among others.
The demand for photon counters is growing in the medical industries, which is a major driver of the photon counter market. The need to produce more accurate imaging, to improve diagnosis and treatment is the major factor propelling demand for photon counters.
Growing applications of photon counters in structural health monitoring (SHM) solutions is another key driver of the market. SHM systems apply photon counters technology as a part of infrastructure monitoring solutions to collect data and make effective decisions.
The growing use of the Internet of Things (IoTs) in photon counters is anticipated to create opportunities for the market in the coming years. Applications of photon counters in digital holography and the emergence of x-ray photon counting are factors likely to create growth prospects for market players.
On the basis of types, the photon counter market is divided into basic types, background compensation types, and radiation source compensation types. The radiation source compensation segment held the major share of the market revenue in 2021 and is projected to expand at a significant CAGR during the forecast period.
Based on the application, the market is categorized into medical applications and non-medical industrial applications. The medical industrial segment is projected to hold a key share of the market during the projection period owing to rising demand of medical imaging technologies.

Read 217 Pages Research Report with Detailed TOC on "Global Photon Counter Market Segments - by Types (Basic Types, Background Compensation Types, and Radiation Source Compensation Types), Primary Materials (Cadmium Telluride (CdTe), Cadmium Zinc Telluride (CZT), and Silicon (Si)), Application (Medical Applications and Non-Medical Industrial Applications), and Region (North America, Europe, Asia Pacific, Latin America, and Middle East & Africa) - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast, 2023 – 2031"

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Key Segments Covered

Types

Basic Types
Background Compensation Types
Radiation Source Compensation Types

Primary Materials

Cadmium Telluride (CdTe)
Cadmium Zinc Telluride (CZT)
Silicon (Si))

Application

Medical Applications
Non-Medical Industrial Applications

Region

North America
Europe
Asia Pacific
Latin America
Middle East & Africa

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