Radiation Dose Management Market Size
Radiation Dose Management Market is anticipated to increase from USD 252.8 billion 2021 to USD 799.6 billion 2030. The market is to grow at a CAGR of 13.70% during the forecast period.
Radiation Dose Management is used to monitor and measure the quantity of dose that is needed during a process so they can avoid the high radiation dose among patients. Radiation is the energy released as an element or impulse that originates from a source and moves through some substance or some surface. Radiation dose is the quantity of radiation energy absorbed through the skin. It can be evaluated in a variety of methods. There are three types of radiation doses, i.e., absorbed dose, effective dose, and equivalent dose. Absorbed dose is the accumulation of energy collected in the tissue, obtained as a consequence of exposure to ionizing radiation, and is utilized to determine the possibility of metabolic changes in particular tissues. An equivalent dose is used to measure the estimated amount of biological harm triggered by the absorbed dose. Likewise, the quantity of effective dose depends on different factors including absorbed dose by all organs & tissues in the body and responsiveness of each organ to radiation. Radiation dose has its usage in radiotherapy, mammography, computed tomography, nuclear medicine, fluoroscopy, and interventional imaging. It is used in hospitals, clinics, research institutes, testing centers, and educational medical centers.
Market Highlights
Radiation Dose Management Market is expected to project a CAGR of 13.70% during the forecast period, 2021-2030
Key factors propelling the growth of the Radiation Dose Management Market are amplifying the use of medical imaging techniques due to the prevalence of long-term illness, mounting concerns about radiation dose exposure, expansion in the installed base of radiology equipment, and growing alertness on radiation dose management. Moreover, the growing emergence of digital health records, adherence obligations of healthcare professionals with strict government and federal laws, and growing awareness and understanding among patients about the effects of prolonged radiation exposure are driving the growth of the global radiation dose management industry. Nevertheless, the lack of resources, the indifference of technicians and physicians in healthcare institutions against risks involved with radioactive contamination, and the lack of uniform protocols, serve as significant constraints for the growth of the global radiation dose management industry.
Global Radiation Dose Management Market: Segments
Computed tomography segment to grow at the highest CAGR during the forecast period
Based on modality, the radiation dose management market is segmented into computed tomography, fluoroscopy & interventional imaging, mammography, and nuclear medicine. The computed tomography segment accounted for the largest market share in 2019 and is expected to grow at the highest CAGR during the forecast period owing to the rapid explosion in the frequency of computed tomography investigations all across the globe and growing awareness & reduced radiations exposure with the advancement in technology.
Hospitals accounted for the largest share of the radiation dose management market in 2019
Based on end-users, the radiation dose management market is divided into hospitals, small hospitals, large hospitals, ambulatory care settings, and others. The hospital segment contributed a maximum share of the radiation dose management market in 2019 and is estimated to continue having the largest market share during the forecast period due to an increase in several patients, developing awareness about the benefits of early detection of disease, technological improvements in imaging, and the growing awareness regarding the harmful effects of radiation exposure.
Market Dynamics
Driver
Growing opportunities for computed tomography
Globally, several integrative radiology and nuclear medicine procedures are being conducted due to their superior imaging quality. Such procedures require a very high dose of radiation for patients. This coupled with the longer duration of these procedures will increase the risk of cancer in patients undergoing these procedures. Thus, to manage and restrict the dosage there is a huge requirement for dose management software specifically for RDM creating vast growth opportunities for the players.
Restraint
Absence of standards for dose optimization
There are no established guidelines by governments for radiation dose performance analysis for any radiology procedures. With the lack of standardized protocols, dose management software cannot be completely implemented to accomplish dose reduction.
Global Radiation Dose Management Market: Regional Analysis
North America is expected to hold the highest CAGR during the forecast period
Global Radiation Dose Management Market is segmented based on regional analysis into five major regions. These include North America, Latin America, Europe, Asia-Pacific, and Middle-East & Africa. Geographically, North America captured the maximum market share in 2019 owing to factors like the rigorous governmental rules and certification constraints concerning the reporting and minimizing the radiation doses, high implementation of safer technologies, and concerns regarding the safety of patients.
Global Radiation Dose Management Market is further segmented by region into:
- North America Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR- the United States and Canada
- Latin America Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR- Mexico, Argentina, Brazil, and Rest of Latin America
- Europe Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR- UK, Germany, France, Italy, Spain, Belgium, Hungary, Luxembourg, Netherlands, Poland, NORDIC, Russia, Turkey, and Rest of Europe
- Asia-Pacific Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR- India, China, South Korea, Malaysia, Japan, Indonesia, Australia, New Zealand, and Rest of Asia-Pacific
- the Middle East and Africa Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR- North Africa, Israel, GCC, South Africa, and Rest of the Middle East and Africa
Global Radiation Dose Management Market: Key Players
- Bayer AG
Company overview, Business Strategy, Key Product Offerings, Financial Performance, Key Performance Indicators, Risk Analysis, Recent Development, Regional Presence, SWOT Analysis
- Philips Healthcare
- GE Healthcare
- Canon Inc
- Agfa Healthcare
- Novarad Corporation
- FUJIFILM Holdings
- PACSHealth
- Medic Vision
- INFINITT Healthcare Co. Ltd.
Frequently Asked Questions (FAQ):
Radiation DoseĀ Management Market is anticipated to increase from USD 252.8 billion 2021 to USD 799.6 billion 2030. The market is to grow at a CAGR of 13.70% during the forecast period.
Bayer AG, Philips Healthcare, GE Healthcare, Canon Inc, Agfa Healthcare, Novarad Corporation, FUJIFILM Holdings, PACSHealth, Medic Vision, INFINITT Healthcare Co. Ltd.
Computed tomography segment and Hospitals segment are anticipated to hold the Radiation Dose Management Market
Growing opportunities for computed tomography
Radiation Dose ManagementĀ is used to monitor and measure the quantity of dose that is needed during a process so they can avoid the high radiation dose among patients.
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