May 22, 2024
Phosphor Screen Scanner Market

Phosphor Screen Scanner Market to Witness High Growth Owing to Advancement in In-vitro Diagnostic Imaging Technology

The phosphor screen scanner market is estimated to witness significant growth attributed rising prevalence of chronic and infectious diseases globally which has increased the demand for diagnostic tests for early detection. Phosphor screen scanners are radiographic imaging devices used to digitize phosphor screens which are exposed to X-rays during radiography procedures. Phosphor screens temporarily store X-ray images which are exposed to body parts and are digitized using phosphor screen scanners. The convenience of digitized medical images for remote diagnosis and storage boosts the adoption of these scanners.

The Global Phosphor Screen Scanner Market Size is estimated to be valued at US$ 288 Bn in 2024 and is expected to exhibit a CAGR of 10% over the forecast period 2024 to 2030.

Key Takeaways

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.

The key opportunities in the market include rising focus on preventive healthcare and integration of digital platforms in healthcare facilities for rapid diagnostics. Advancements such as high-resolution imaging, wireless connectivity, and AI-enabled diagnostic solutions are expected to boost adoption of phosphor screen scanners.

Market drivers:

The primary growth driver for this market is the rising need for rapid diagnostics and preventive healthcare. Phosphor screen scanners help accelerate diagnostics by digitizing X-ray images instantly and enabling remote access for consultation. This is expected to be a major market driver over the forecast period.

Challenges in Phosphor Screen Scanner Market

The phosphor screen scanner market is facing various challenges related to data accuracy, digitization workflow integration, and high cost of advanced solutions. Most pathology labs still rely on manual processes that are time-consuming and prone to errors. Transitioning to digital and automated solutions requires significant upfront investment and organizational change management efforts. Limited healthcare budgets remain a major roadblock for many smaller laboratories. Lack of skilled workforce familiar with digital pathology solutions is another pressing challenge. Maintaining high image quality over multiple scans is difficult due to deterioration of phosphor screens. Advanced AI-based image analysis tools also require huge annotated datasets for training, which is an arduous task. Data privacy and regulations around sharing patient digital scans across international borders pose regulatory compliance challenges.

SWOT Analysis

Strengths: Digital solutions offer improved accuracy, productivity and scalability compared to manual microscopy. Ability to enable remote virtual consultations.

Weaknesses: High upfront costs of implementation. Requires significant changes to existing workflows. Learning curve for pathologists to adapt to digital interfaces.

Opportunities: Growth in demand for advanced precision diagnostics. Increasing adoption of AI/ML tools for image analysis. Telepathology market expansion in rural/remote areas.

Threats: Intense competition from newer imaging technologies. Difficulty integrating with diverse laboratory IT systems. Data security and privacy regulations.

Geographical Regions

North America currently accounts for the largest share of the global phosphor screen scanner market, both in terms of value and volume. This is attributed to strong demand from the well-established healthcare industry and presence of leading market players in the region. The U.S. represents the single largest national market within North America. Asia Pacific is expected to emerge as the fastest growing regional market over the forecast period from 2024 to 2030 with a CAGR of around 12%. Rising healthcare expenditures, growing middle-class population seeking advanced diagnostics, and increasing focus on digitization in countries like China and India are fueling higher adoption of digital pathology solutions in Asia Pacific.

Europe captures the second largest regional market share globally. However, growth rates are projected to remain moderate compared to Asia Pacific due to market saturation levels achieved already in major Western European countries. Japan is the largest market for phosphor screen scanners in Asia Pacific attributed to its superior healthcare infrastructure and high diagnostic testing rates. The Middle East and Africa region demonstrates higher growth opportunities centered around Gulf nations with significant healthcare investments. Latin America also presents lucrative prospects backed by economic development across nations like Brazil, Mexico and Argentina.

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