The global radiation dose management market is poised to value over USD 3,560 million in 2026, registering a CAGR of 39.8% during the forecast period of 2019-2026. The growth of this market can be attributed to factors such as increasing awareness about radiation safety, rising adoption of EHR systems, growing implementation of health information exchanges (HIEs) etc. However, the absence of regulated protocols for radiation dose management, low adoption in emerging countries, and lack of in-house training and awareness of physicians and technologists are few factors limiting the market growth.
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The US is anticipated to drive the Radiation Dose Management Market in the North America Region
Geographically the market is segmented into Europe, North America, APAC, Latin America, and the Rest of World. Each year approximately 80 million CT scans are currently being performed in the US. The scanning method has transformed the diagnosis and treatment such as colonography, dual-energy, CT angiography, etc. However, due to risks linked with high-dose of radiation, many hospitals and research centers are using advanced CT machines with integrated software such as ERP for an exact estimate of radiation dose. Moreover, strict government regulations, the presence of a high number of health systems and hospitals, and rising need to reduce the healthcare costs are some of the factors boosting the US market.
Asia Pacific market is forecasted to grow at a lucrative rate owing to factors such as increasing initiatives to improve healthcare infrastructure, and rapid urbanisation.
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Europe region is estimated to grow at the highest CAGR during the forecast period, this is due to the government initiatives to increase patient safety and comprehensively improve the efficiency in healthcare organizations. The EU memorandum concerning the use of ionizing radiation, which will be revoked from February 6, 2018, is a major attribute for the expanding adoption of radiation dose management solutions by healthcare providers in Europe, this will massively boost the market growth of Europe in next two years.
Additional Significant Findings:
- Hospital segment is projected to hold a major market share during the forecast period
- Oncology segment is estimated to hold higher market share owing to increasing incidences of cancer and risks associated with prolonged exposure of radiation therapy
- Bayers acquisition of Monsanto in 2018 was a strategic move further strengthening Bayers service portfolio
Vital Questions Answered
- Prevailing and future radiation dose management market outlook and trends
- Key regions to focus on
- Investigating several aspects of the market with the help of Porter’s five forces analysis
- Identifying the latest advancements, market shares, and strategies applied by the significant market players
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