Growth in 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.
The radiation dose management market is projected to reach USD 447 million by 2024 from USD 206 million in 2019, at a CAGR of 16.7% during the forecast period.
The rising focus on interventional radiology and nuclear medicine is expected to provide growth opportunities for players in the radiation dose management market during the forecast period.
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Radiation dose management market segmentation:
- based on product & service
- based on modality
- based on end users
The Major Players Opearting in the Radiation dose management market:
Key players in the global radiation dose management industry 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).
In 2018, Bayer AG held the leading position in the market. The company has a wide geographical presence spanning North America, Europe, Asia Pacific, and Latin America. The company’s strong brand recognition and extensive product portfolio in the radiation dose management market is its key strength. GE Healthcare held the second position in the radiation dose management market in 2018.
Geographical Detailed Analysis for Radiation dose management market:
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 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.
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