Radiation Dose Management Market size is estimated to reach $449.26 Million by 2025, growing at a CAGR of 12.93% during the forecast period 2020-2025. The emission or transmission of energy in the form of waves or particles, either through the vacuum or any other medium is Radiation. Radiation dose is the amount of radiation observed by the body tissues. An Increase in chronic diseases, the development of new technologies in radiation treatment and providing safety to the patients have been driving the market for radiation dose management.
By Product Type – Segment Analysis
The global Radiation Dose Management Market based on Product type has Radiation dose management solutions and Radiation dose management service. The Radiation dose management solution, which is sub-divided into Standalone and Integrated solutions, registers for the highest market share in 2019 and is set to continue for the forecast period (2020-2025). The increase in the latest technology of radiation dose management and increased adoption in health care around the world is supporting the market growth in this segment.
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By Modality Type – Segment Analysis
The Modality segment of Radiation Dose Management Market has Computed Tomography, Fluoroscopy, Interventional Imaging, Radiography, Mammography, and Nuclear Medicine. The Computer Tomography registers the highest share in the year 2019 and is set to continue during the forecast period 2020-2025. The increased usage of the Computed Tomography (CT) and raising awareness of the radiation dose treatment is boosting the market in this segment. The increase in usage of these new and advanced modalities in hospitals and diagnostic centers are boosting the market of Radiation dose management.
By Geography – Segment Analysis
The global Radiation Dose Management Market by geography had the dominant share in North America, in terms of revenue in 2019. North America holds the largest market share owing to an increase in chronic diseases in this region. Asia-Pacific is also set to have a high growth rate during the forecast period 2020-2025, owing to the increased patient population and increased usage of this technology in countries like China and India. The increase in awareness of radiation exposures, technology advancements and increased usage of radiation in hospitals and diagnostic centers are increasing the market globally.
Drivers – Radiation Dose Management Market
Increased usage of Radiation for treatment
The usage of the radiation in the different types of treatments like oncology, cardiology, orthopedic and others, in hospitals and diagnostic centers are boosting the market. Increasing in number of multi-specialty hospitals, rising awareness amount the patients, and increasing health care funding by both government and private sectors id driving the market.
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Challenges – Radiation Dose Management Market
Lack of standard treatment policies
The lack of standard protocols, for the different types of patients at different age groups, is challenging the market during the forecast period 2020-2025. Lack of funding and ignorance of the risks associated with radiation exposure and unavailability of skilled physicians for the radiation dose management is challenging the market.
Radiation Dose Management Market Industry outlook:
Product launches, mergers and acquisitions, joint ventures, and geographical expansions are key strategies adopted by players in the Radiation Dose Management Market. Key companies of this market are Bayer AG, GE Healthcare Ltd., Mirion Technologies, INC, Toshiba Medical Systems Corporation., Landauer, Mckesson Corporation, Imalogix, Novarad Corporation, Sectra Medical Systems GmbH, Philip Healthcare, and others.
In August 2018 – Guerbet LLC USA announced a partnership with Imalogix, to use the Guerbet’s diagnostic capabilities and Imalogix’s cloud-based human and machine-intelligence capabilities, for the identification of areas that affect care delivery surrounding radiation dose management with ease.
In December 2017 – Sectra launched the Gadolinium tracking in its Dose monitoring solutions, Sectra Dosetracking.
Geographically, North America’s Radiation Dose Management Market accounted for the highest revenue share in 2019 and it is poised to dominate during the forecast period 2020-2025 owing to the high demand for the radiation dose management in the treatment of chronic diseases.
The raising awareness about the benefits of early disease diagnosis, the advancement of technology in imaging modalities increases the growth of the market.
Advancement in the Radiation Dose Management is increasing opportunities for the manufactures to develop new Radiation dose management solutions and services by using different modalities.
Detailed analysis on the Strength, Weakness and Opportunities of the prominent players operating in the market will be provided in the Radiation Dose Management Market report.
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