PSP System Market Size, Share, Growth, And Industry Analysis, By Type (Sizes (0 to 4) and Sizes (0 to 3)), By Application (Dental Clinics, Dental Hospitals and Others), Regional Insights, and Forecast To 2032

PSP System Market Report Overview

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The global PSP system market size US$ 76 million in 2021. As per our research, the market is expected to generate substantial revenue by 2028, exhibiting a CAGR 4.0% during the forecast period.

A phosphor storage plate system is a kind of digital radiography system that employs PSPs to record and store X-ray pictures. The system consists of a computer, a scanner, and a PSP. The plate is positioned in the X-ray machine and subjected to radiation when an X-ray is obtained. Some of the X-ray energy is briefly stored in the PSP's phosphor crystals through absorption. After exposure, the storage plate is taken out of the X-ray machine and put in a scanner, where a laser is used to excite the phosphor crystals and release the accumulated energy as light. The photodetector captures the light emitted by the crystals and converts it into an electronic signal, which is subsequently processed by a computer to produce a digital image.

The market for phosphor storage plate systems is expanding as more medical and dental applications use digital radiography systems. PSP system provide for quicker processing times, improved image quality, and electronic image storage and retrieval. Additionally, the elimination of hazardous waste produced by conventional film-based radiography systems and other environmental advantages of these systems are encouraging their adoption. Technology breakthroughs, including increases in PSP sensitivity and resolution as well as the creation of new PSP materials and coatings, are also driving the market.

COVID-19 Impact: Scaling Back of Operations Led to the Diminished Need for these Systems

Due to the pandemic, fewer people underwent elective surgery, which decreased the demand for PSP system in some areas. The need for these systems was further diminished by the fact that some healthcare facilities were compelled to scale back or temporarily cease operations. Additionally, a lot of healthcare organizations and providers postponed purchasing new equipment due to the uncertainty and monetary difficulties the epidemic brought about. In some areas, this hindered the market expansion for the x-rays.

Latest Trends

"Modern PSP Materials Are Developed to Improve Image Quality with Better Detail and Contrast"

The creation of novel and cutting-edge PSP materials and coatings is the most recent trend in the market for phosphor storage plate systems. The sensitivity and resolution of PSP system will be improved by these materials, resulting in higher-quality images with improved contrast and detail. The creation of high-resolution materials, which provide better image quality than conventional storage plate materials, is one illustration of this trend. These materials enhance the system's resolution by using smaller particles and thinner layers, producing images that are crisper and more detailed.

PSP System Market Segmentation

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• By Type Analysis

According to type, the market can be segmented into Sizes (0 to 4) and Sizes (0 to 3)

• By Application Analysis

Based on application, the market can be divided into dental clinics, dental hospitals and others.

Driving Factors

"Growing Adoption of Digital Systems Over Conventional Systems is Driving the Need for PSP X-rays"

The need for storage plate equipment is being driven by the transition from conventional film-based radiography systems to digital radiography systems. PSP x-rays and other digital radiography systems have a number of benefits over older film-based systems, including better image quality, quicker processing, and cheaper costs. The demand for PSP system is also being fueled by the fact that digital radiography systems may be employed in a larger number of clinical settings, such as dentistry, and others.

"Systems' Performance is being Improved by Technological Advancements Currently Occurring in the Field"

Innovation and better intraoral phosphor plate x-ray performance are being sparked by PSP technological improvements. As an illustration, the creation of wireless PSP system reduces the need for connections, streamlines workflow, and increases the effectiveness of radiography processes. Nanotechnology can also improve the sensitivity, resolution, and robustness of the storage plate in these systems. The need for phosphor storage plates is anticipated to rise in the next few years as a result of PSP's ability to offer greater image quality, increased efficiency, and extended clinical applications.

Restraining Factors

"Competition from Competing Digital Systems is Limiting the Plates Market Expansion"

Competition from competing digital radiography systems, including computed radiography (CR) and digital radiography (DR) systems, is one of the main factors limiting the market for phosphor storage plates. The PSP x-rays are superior to conventional systems in a number of ways, including reduced cost and greater flexibility, but they also have some drawbacks in terms of resolution and sensitivity. Additionally, the expenses associated with PSP, particularly for higher-end devices with advanced features, may prevent certain healthcare practitioners, particularly those in impoverished nations, from implementing it. This can restrict the PSP system market growth in certain areas.

PSP System Market Regional Insights

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"Favorable Reimbursement Policies Are Fueling the Need for PSP in the North America "

The PSP system market share has been fueled by the region’s and, particularly, the United States' favorable payment laws for medical imaging operations. Medical imaging operations, including the cost of the systems, can be recovered by healthcare providers thanks to reimbursement policies, which makes them more inexpensive and accessible for patients. Finally, growing regional acceptance of digital radiography systems has also fueled market expansion. Digital radiography systems are replacing conventional film-based radiography systems on account of the advantages of better image quality, quicker processing times, and cheaper prices that the PSP provides. 

Key Industry Players

"Key Players Focus on R&D in order to Improve the Performance of their Systems"

To enhance PSP system performance, create new products, and broaden their clinical uses, the market participants are extensively spending in research and development. To improve their sensitivity, resolution, and durability, some players are developing wireless systems, while others are looking into using nanotechnology in the plates. Players are also introducing new items and promoting them vehemently in order to grow their client bases and take a larger portion of the market. As an illustration, competitors are releasing devices with cutting-edge features such as automatic exposure detection and dose reduction and marketing them through a variety of media including trade exhibitions, conferences, and online platforms.

LIST OF TOP PSP SYSTEM COMPANIES

• Dentsply Sirona (U.S.)
• Planmeca (Finland)
• Envista Holdings (U.S.)
• Acteon (U.K.)
• Air Techniques (U.S.)
• Carestream Dental (U.S.)
• Digiray (South Korea)
• Nical (Italy)
• Trident (India)
• CRUXELL Corp (South Korea)

Report Coverage

This report covers the PSP system market. The CAGR expected to be in during the forecast period, and also the USD value in 2021 and what it is expected to be in 2028. The effect COVID-19 had on the market in the beginning of the pandemic. The latest trends taking place in this industry. The factors that are driving this market as well as the factors that are restraining the growth of industry. The segmentation of this market based on type and applications. The region leading in the industry and why they will continue to do so during the forecast period. Further, the key market players, what all is being done by them to stay ahead of their competition as well as retain their market positions. All these details are covered in the report.