April 14, 2024
Phosphor Screen Scanner Market

Phosphor Screen Scanner Market is driven by Increasing Adoption of Digital Radiography Technology

The global Phosphor Screen Scanner market was valued at US$ 288 billion in 2024. Phosphor screen scanners are medical devices used to capture X-ray images on fluorescent screens. They use a light source such as LEDs to scan phosphor screens which converts X-rays into visible light. The invisible X-ray image is captured as a digital file that can be enhanced, stored and shared electronically. This eliminates the need for traditional photosensitive films and chemicals required in film-based radiography. Digital radiography also offers benefits such as improved imaging quality, reduced radiation dosage and instant image availability. Considering these advantages along with growing awareness, the adoption of digital X-ray systems integrated with phosphor screen scanners is increasing globally. The global Phosphor Screen Scanner market is estimated to be valued at US$ 320 billion in 2031 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.

Market key trends:
The growing prevalence of chronic diseases is one of the key trends driving the demand for medical imaging procedures. According to the World Health Organization, chronic diseases accounted for 60% of global deaths in 2016. Conditions such as cancer, cardiovascular diseases and respiratory illnesses require frequent diagnostic imaging for treatment monitoring as well as detection of complications. This is increasing the volume of radiography scans performed worldwide which is positively impacting the sales of phosphor screen scanners. Additionally, manufacturers are focusing on product innovation to improve the functionality and efficiency of scanners. New technologies such as large imaging panels, higher resolution, integrated PACS compatibility and wireless capabilities are being introduced. This is expanding the applications of scanners and further increasing their adoption.

Porter’s Analysis
Threat of new entrants: Low capital requirements and established distribution channels lower barriers to entry in the phosphor screen scanner market. however, existing key players have strong brand image and customer loyalty.

Bargaining power of buyers: Buyers have high bargaining power due to availability of substitute products. However, customized product offerings increase switching costs.

Bargaining power of suppliers: A few key players dominate the supply market, giving them substantial power over pricing. However, established relationships and importance of quality inputs maintain balance.

Threat of new substitutes: Alternatives like microarray scanners offer substitute technology. However, phosphor screen scanners have distinct advantages in applications requiring highthroughput screening.

Competitive rivalry: The market has few large players with broad product portfolios. Players differentiate through innovation in scanning speed, resolution and software. Pricing pressure exists due to competition.

Key Takeaways
The global Phosphor Screen Scanner market size is expected to witness high growth during the forecast period.

Regional analysis: North America holds the largest share of the market and is expected to maintain dominance during the forecast period. This is attributed to presence of major players, increasing healthcare expenditure, and growing adoption of advanced screening technologies. Asia Pacific is anticipated to grow at the fastest pace. Countries like China and India are witnessing rapid economic development and boosting investments in life sciences research.

Key players: 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. Players are focusing on new product launches and partnerships with biotech institutions to strengthen their market position.

*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraaged AI tools to mine information and compile it