What This Report Will Provide?
The study involved four major activities to estimate the current size of the radiation dose management market. Exhaustive secondary research was done to collect information on the market and its different subsegments. The next step was to validate these findings, assumptions, and sizing with industry experts across the value chain through primary research.
Expected Revenue Growth:
[226 Pages Report] 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.
Major Growth Boosters:
Growth of the 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.
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COVID -19 IMPACT ON THE RADIATION DOSE MANAGEMENT MARKET
Several countries across the globe have seen non-urgent diagnostic imaging surgeries being postponed due to the pandemic. These procedures utilize additional resources and increase the risk of complications; depending on the procedure, they also increase the chance of needing equipment, resources, or materials such as hospital beds and PPE.
- In 2018, Sectra AB launched Sectra Dosetrack.
- In 2018, Sectra AB launched Gadolinium Tracking in its dose monitoring solution.
- In 2017, DOSE, Qaelum’s dose management solution, expanded its reach in radiology and medical imaging departments in the UK.
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.
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Growing concerns over radiation exposure
In the last two decades, radiation exposure to patients has increased significantly. This can be attributed to the growing use of radiological procedures such as CT, fluoroscopy, and interventional imaging procedures, coupled with an increase in the radiation doses used in these procedures. In diagnostic imaging modalities, higher tube currents are used for obese patients to improve image quality. Owing to this, the risk of radiation overexposure for obese patients is high.
Regional Growth Analysis:
Based on the region, the radiation dose management market is segmented into North America, Europe, Asia Pacific, and the Rest of the World (RoW). In 2019, North America accounted for the largest share of the radiation dose management 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.