The radiation dose management market is expected to reach US$ 1,349.5 million by 2027, up from US$ 179.0 million in 2018, with a compounded annual growth rate (CAGR) of 25.8% from 2019 to 2027.
The rising prevalence of chronic disease and stringent regulatory norms related to the safety of radiation exposure in patients are the major drivers associated with the radiation dose management market. A significant rise in diagnostic screening centers and rising public health awareness further propel the radiation dose management market.
Market Synopsis
The ability to design a robust radiation safety program and the efficient collection of clinical data pertaining to patient disease screening increased the demand for software solutions.
In the present scenario, software solutions are spearheading the solution segment for the radiation dose management market. Prominent features associated with them, such as the capability to design a robust radiation safety program ensuring negligible side effects in patients exposed to radiation therapy, increase the demand for software solutions.
Efficient collection of clinical data pertaining to patient disease diagnosis further propels market growth for software solutions. Services are keen to register steady growth in the near future owing to rising public health awareness resulting in early disease diagnosis and a significant rise in diagnostic centers worldwide.
Ease of operation, effective radiation dose monitoring, and quick acquisition of precise images increase the popularity of computed tomography over other modalities.
Computed tomography is currently leading the modality segment for the radiation dose management market. The inherent characteristics of computed tomography include the elimination of overlapping structures, which makes the internal anatomy more apparent and visible. It guides the surgeons during critical surgical procedures; ease of operation, effective radiation dose monitoring, and quick turnaround time are the key attributes that increase its popularity over other modalities.
Nuclear medicine scans have received a lot of attention in the last decade because of their ability to understand cellular metabolism in chronic disease and to thoroughly investigate a tumor or infection and its spread throughout the body. It is a useful tool to validate whether the ongoing treatment protocol is effective or needs change.
Strong regulatory norms regarding patient safety receiving radiation therapy and the rising prevalence of chronic disease drive market growth in North America.
North America holds the largest market share of 36% in the regional segment of the radiation dose management market. The chief parameters consolidating its market growth in North America are stringent norms imposed by healthcare agencies on patients receiving radiation therapy and the rising prevalence of chronic disease, which results in early disease diagnosis.
Favorable reimbursement scenarios pertaining to the utilization of radiation dose therapy further bolster the market's growth in the region. Europe represents 29.5% of the market share and is the second largest regional market owing to the domicile of key players such as Bayer AG, Philips Healthcare, Sectra AB, etc., which promote the market performance of radiation dose management. Asia Pacific, with a market share of 22%, is keen to register outstanding growth over the forecast period on account of developing healthcare infrastructure and increasing medical tourism.
Periods of History and Forecast
This research report presents the analysis of each segment from 2017 to 2027, considering 2018 as the base year for the research. The compound annual growth rate (CAGR) for each of the respective segments is calculated for the forecast period from 2019 to 2027.
Report Scope by Segments
The market segmentation for the scope of the report is done by solution, modality, and geography.
Which major medical device manufacturers are providing radiation dose management solutions?
What are the latest acquisitions and mergers taking place in the radiation dose management market?
What are the regulatory guidelines sanctioned for the safety of radiation therapy?
Which factors promote the software solutions market's growth?
What are the underlying principle behind nuclear medicine scans and their use in disease diagnosis and treatment validation?
Which parameters are responsible for the market dominance of the North American regional segment in the radiation dose management market?
Frequently Asked Question:
The market for Radiation Dose Management is expected to reach USD$ 1,349.5 Mn in 2027.
The Radiation Dose Management is expected to see significant CAGR growth over the coming years, at 25.8%.
The report is forecasted from 2019 -2027.
The base year of this report is 2018.
Bracco Imaging S.P.A., G.E. Healthcare, Philips Healthcare, Medsquare, Novarad Corporation, Sectra AB, Pacshealth. are some of the major players in the global market.
