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(Health-NewsWire.Net, August 11, 2021 ) The Key Growth Elements in Detailed?
The Growth of the Radiation Dose Management Market is mainly driven by the increasing use of medical imaging modalities due to the rising incidence of chronic diseases, increasing concerns over radiation dose exposure, growth in the installed base of radiology equipment, and growing awareness on radiation dose management.
Worldwide Growth Opportunities in Terms of Revenue:
The Global Radiation Dose Management Market size is projected to reach USD 423 million by 2025 from USD 220.22 million in 2020, at a CAGR of 13.9% during the forecast period.
GROWTH OPPORTUNITY: Growing focus on interventional radiology and nuclear medicine;
Across the globe, an increasing number of interventional radiology and nuclear medicine procedures are being performed owing to their high imaging efficiency. These procedures use a very high dose of radiation for patients; this, coupled with the longer duration of these procedures, can increase the risk of cancer in patients undergoing these procedures. According to the Society of Nuclear Medicine, around 20 million nuclear medicine procedures are performed every year in the US. As reported by the World Nuclear Association, more than 10,000 hospitals worldwide use radioisotopes in medicine; 90% of the procedures involving radioisotopes are diagnostic.
Thus, to cater to the needs of end-users, many players in the market, such as Bayer Healthcare and Sectra Medical Systems, are providing dose management software specifically for RDM in interventional imaging and nuclear medicine. Although CT applications account for a large share of the radiation dose management market, the interventional radiology and nuclear medicine applications are expected to offer significant growth opportunities in the next five years.
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The radiation dose management solutions segment is expected to grow at the highest CAGR during the forecast period;
Based on product & service, the radiation dose management market is segmented into radiation dose management solutions and radiation dose management services. The radiation dose management solutions segment is projected to witness the highest growth during the forecast period. The increasing adoption of radiation dose management solutions by healthcare providers owing to the growing regulations regarding ionizing radiation across the globe is the major factor supporting the growth of this segment.
Regional Growth, Development and Demand Analysis:
The radiation dose management market is segmented into four major regional segments, namely, North America, Europe, Asia Pacific, and the Rest of the World. In 2018, North America accounted for the largest share of the market. The large share of North America can be attributed to factors such as the stringent legislative and accreditation requirements regarding the reporting and optimization of radiation doses, high adoption of HCIT technologies, and the presence of stringent regulatory requirements regarding patient safety.
Major Key Players Mentioned in the research report are:
The major players in the radiation dose management market are Bayer AG (Germany), GE Healthcare (US), PACSHealth, LLC (US), and Sectra Medical Systems (Sweden). Other prominent players in this market include Philips Healthcare (Netherlands), Fujifilm Holdings Corporation (Japan), Novarad Corporation (US), Siemens Healthineers (Germany), Agfa HealthCare (Belgium), Canon (Japan), and Qaelum N.V. (Belgium).
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