Phosphor Screen Scanner Market Is Estimated To Witness High Growth Owing To Increasing Use Of Digital Radiography Systems
The Phosphor Screen Scanner Market is estimated to be valued at US$ 250.0 Mn In 2023 and is expected to exhibit a CAGR Of 3.7% over the forecast period 2023 To 2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
Phosphor screen scanners are devices used in conjunction with photostimulable phosphor plates in digital radiography systems to digitally capture X-ray images. Phosphor screen scanners convert the latent X-ray image stored in photostimulable phosphor plates into a digital image that can be enhanced, stored, transmitted and used with various imaging software. They are widely used in hospitals, dental clinics and veterinary practices for general radiography, mammography, fluoroscopy and dental applications.
Market Dynamics:
The growth of the phosphor screen scanner market is majorly driven by the increasing adoption of digital radiography systems over traditional films based systems. Digital radiography offers benefits such as instant image availability, reduced costs through film elimination, simplified storage on PACS and images enhancements. Additionally, growing dental industry and rising vet care spending are also fueling the demand for phosphor screen scanners. Moreover, technological advancements such as improved resolution, faster scan times and wireless connectivity of newer scanner models are encouraging replacement sales. However, high cost of replacement or upgrade of existing equipment and preference given to traditional films in few developing countries restraints the market growth.
SWOT Analysis
Strength:
- High imaging quality and accuracy offered by phosphor screen scanners help obtain precise diagnostic results.
- Digital imaging capability provides convenience of storing, retrieving, and sharing scans digitally.
- Diversified applications in medical, dental and industrial sectors ensure stable demand.
Weakness:
- Higher costs compared to traditional x-ray films make it unsuitable for low budget applications.
- Technological advancements in alternatives like digital radiography pose competition.
Opportunity:
- Expanding healthcare infrastructure and increasing healthcare spending in developing nations offer significant growth opportunities.
- Rising use of medical imaging for diagnosis and treatment across various therapeutic areas presents a lucrative avenue.
Threats:
- Strong presence of local and regional players intensifies competition.
- Stringent regulations pertaining to medical device approval processes can inhibit market expansion plans.
Key Takeaways
The global Phosphor Screen Scanner Market is expected to witness high growth, exhibiting a CAGR of 3.7% over the forecast period, due to increasing investments in healthcare infrastructure development and digitization initiatives in both developed and emerging economies.
Regional analysis:
North America dominated the market and accounted for over 35% share in 2022 led by well-established healthcare systems and early technology adoption in the US and Canada. Asia Pacific is poised to witness the fastest growth during the forecast period supported by rising medical tourism, burgeoning middle class population and their increasing healthcare spending in major countries like China and India.
Key players:
Key players operating in the Phosphor Screen Scanner market are GENERAL ELECTRIC COMPANY, GIDS gmbh, Kimball Physics, Phosphor Technology Ltd, ProxiVision GmbH, Dr. Gassler Electron Devices, Hamamatsu Photonics K.K., Apixia Inc, AGFA Healthcare, Scintacor, Koninklijke Philips N.V., 3Disc, Kavo Dental, Stanford Computer Optics, Inc, Hangzhou Kinghigh Technology Co., Ltd., Durr NDT GmbH & Co. KG, Konica Minolta Business Solutions India Private Limited, Telecast Technology Corporation, NICHIA CORPORATION and Aimil Ltd.
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