Phosphor Screen Scanner Market is Estimated To Witness Growth Owing To Evolution of Digital Radiography Trend

The Phosphor Screen Scanner Market is estimated to be valued at US$ 250.0 Mn or Million 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 imaging devices that are used to digitize phosphor imaging plates in radiology and dental imaging applications. Phosphor imaging plates store x-ray information when exposed to radiation. Phosphor screen scanners are used to scan these plates and convert the stored x-ray data into a digital format. The digital format enables improved archiving, viewing and sharing of images. Advantages of phosphor screen scanners include high image resolution, reduced patient radiation dose and real-time imaging.

Market key trends:

One of the key trends driving growth of the phosphor screen scanner market is the increasing adoption of digital radiography systems. Traditional film-based radiography is being replaced by digital systems that utilize phosphor plates and scanners. Digital radiography offers advantages such as instant imaging, image manipulation, reduced costs through elimination of chemicals, and automated workflow. It is estimated that over 75% of new radiology installations currently are digital. As healthcare providers continue replacing older analog equipment with digital solutions, demand for phosphor screen scanners is expected to increase significantly over the forecast period. Growing awareness about radiation dose optimization is also fueling replacement of conventional radiography with digital technologies.

Porter’s Analysis

Threat of new entrants: Low capital requirement Pose a low threat of new entrants in the phosphor screen scanner market as it requires moderate capital investment for manufacturing.

Bargaining power of buyers: Moderate No small group of buyers account for majority of purchases in the phosphor screen scanner market. Buyers have moderate bargaining power.

Bargaining power of suppliers: Moderate Raw material suppliers have a moderate level of bargaining power due to availability of substitutes and collaboration of OEMs with multiple component providers.

Threat of new substitutes: Low Phosphor screen scanners have few substitutes hence face low threat of substitution from newer technologies.

Competitive rivalry: High Large number of regional players in the market leads to high competitive rivalry in pricing and product innovation.

SWOT Analysis

Strength: Well-established distribution network of key players serves as a reliable strength. Demand from growing healthcare sector for accurate medical imaging offers opportunities.

Weakness: High maintenance costs of phosphor screen scanners acts as a weakness. Dependency on a few key raw material suppliers exerts pressure on prices.

Opportunity: Increasing healthcare expenditure in emerging economies and rising demand for refurbished equipment presents an opportunity.

Threats: Advances in alternative digital radiography technologies pose a major threat to phosphor screen scanners. Economic slowdowns impact the healthcare budgets of countries.

Key Takeaways

The global Phosphor Screen Scanner Market is expected to witness high growth, exhibiting CAGR of 3.7% over the forecast period, due to increasing demand for improved medical imaging. The market size for 2023 is US$ 250.0 Mn. Regional analysis Asia Pacific is expected to witness the fastest growth in the phosphor screen scanner market during the forecast period due to rising healthcare spending, high disease prevalence and presence of major players in the region.

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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