The global Phosphor Screen Scanner Market is estimated to be valued at US$ 288 Bn in 2023 and is expected to exhibit a CAGR of 10% over the forecast period 2024 to 2031, as highlighted in a new report published by Coherent Market Insights.
Phosphor screen scanners are medical devices used for capturing, digitizing, analyzing and transferring images and information from phosphor plates used in medical imaging. They help produce high quality images from x-ray, CT scan and MRI-based procedures in a digital format. The captured digital images can be stored, shared over networks and analyzed on computers for quick and improved diagnosis. Phosphor screen scanners provide advantages like improved efficiency in medical imaging workflows, reduced storage costs for films and ability to enhance image quality for better diagnosis compared to traditional film-based systems. With growing adoption of digital imaging systems in hospitals and diagnostic centers, the demand for phosphor screen scanners is increasing significantly.
The global Phosphor Screen Scanner Market size is estimated to witness high growth owing to opportunity in medical imaging. Medical imaging is one of the largest applications of phosphor screen scanners due to growing need of quicker and improved diagnosis. According to World Health Organization, worldwide annual medical imaging tests are estimated to increase from 4 billion currently to over 7 billion by 2030. This is expected to drive the demand of digital medical imaging systems including phosphor screen scanners at a significant rate during the forecast period. Improved accessibility of healthcare in emerging nations and increasing cases of chronic diseases are also contributing to growth of medical imaging market thereby phosphor screen scanners.
Porter’s Analysis
Threat of new entrants: Low startup costs and no patents act as barriers to entry for new players. However, established players enjoy advantages of economies of scale and brand loyalty.
Bargaining power of buyers: Buyers have moderate power as there are few substitutes available. However, stringent regulations ensure consistent quality across manufacturers.
Bargaining power of suppliers: Suppliers of key components like screens and sensors have some bargaining power due to differentiated products and close relationships with established players.
Threat of new substitutes: Alternatives like digital pathology are being explored but phosphor screens continue to remain viable due to reliability and cost advantages for high volume applications.
Competitive rivalry: Intense competition exists between major providers to gain market share through product innovations.
SWOT Analysis
Strengths: High resolution for precise diagnosis. Digital archiving and remote consulting capabilities.
Weaknesses: High startup costs. Requires specialized infrastructure and skilled technicians to operate.
Opportunities: Growing clinical trials and emerging pharmaceutical hubs in Asia Pacific and Latin America offer new markets. Integration with AI and cloud-computing could enhance applications.
Threats: Slow adoption in developing nations due to budget constraints. Stringent regulations around data security and privacy.
Key Takeaways
The global Phosphor Screen Scanner market is expected to witness high growth over the forecast period of 2024 to 2031. The market size for 2024 is estimated at US$ 288 Bn. Rapid expansion of the pharmaceutical industry and increasing research activities are driving demand.
North America dominates currently due to presence of leading life sciences firms and research infrastructure. However, Asia Pacific is emerging as the fastest growing regional market with countries like China and India strengthening their pharmaceutical manufacturing capabilities.
Key players operating in the phosphor screen scanner market are Intomics, GENinCode, NanoString, Tepnel Pharma Services Limited, Pfizer Inc., Novartis AG, Teva Pharmaceutical Industries Ltd., Merck & Co., Inc, QIAGEN, Quest Diagnostics Incorporated, Medtronic, Thermo Fisher Scientific Inc., Laboratory Corporation of America Holdings, bioMérieux SA, F. Hoffmann-La Roche Ltd, Eli Lilly & Company, GlaxoSmithKline plc, Cepheid, AstraZeneca PLC, Myriad Genetics, Inc., Bristol-Myers Squibb Company, and Found. These companies are focusing on new product launches and geographic expansions to increase their revenue shares.
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When this figure is used with an LCD and projector, the display can be made sharper and clearer to ensure that it is easier for people to view the pictures and films that they are using.
Phosphor screen scanner cancer is also used in autoradiography processes to detect cancer cells in the body and other medical diagnostics.The increasing rate of cancer in the world has resulted in significant demand in the global phosphor screen scanner market.
For instance, according to World Cancer Research Fund International, in 2018, there were around 18 million cancer cases in the world, comprising of around 8.5 million women and around 9.5 million men.
Moreover, versatile applications of the scanner and technological advancements are also augmenting the incidence rate of the market.
Advancements in research and development activities by key market players are another trend that is boosting the growth of the global phosphor screen scanner market.A phosphor screen scanner is very useful in that it can scan a particular film directly onto a computer monitor.
This will work whether the individual is scanning one's film at home or if they are intending to take their digital pictures to be used by someone else at another location.
Phosphor screen scanner has various applications in autoradiography and medical diagnostics.
Increasing application in a variety of medical diagnostics are likely to lead to increasing adoption of phosphor screen scanners in rapidly expanding medical industry over the next decade.Phosphor Screen Scanner is just a system for scanning an imaging plate.
As phosphor screen scanner allows direct in-depth visualization, it eradicates the requirement to develop a specific film by using chemicals or different scanning methods for observation purpose, like in other radio imaging methods.Increasing application and popularity of phosphor screen scanners in autoradiography and medical diagnostics application are factors fueling growth of the global phosphor screen scanner market.
It can be highly sensitivity and offers high accuracy of quantitative data.
These factors are driving medical professional's attraction towards use of phosphor screen scanner, consequently driving growth of the related market.
Phosphor screen scanners require less space are portable.Moreover, some phosphor screen scanners are portable, require less space.
