Global Radiation Dose Management Market – Analysis and Forecast (2018-2024)
The global radiation dose management market is growing at a significant rate, due to an escalating emphasis on improving the quality of patient care, regulatory requirements, and mounting alertness and initiatives for radiation dose management. Different product and services such as radiation dose management solutions and radiation dose management services contributed to the radiation dose management market size. The market has witnessed a high demand for radiation dose management solutions including standalone and integrated solutions. Market Segmentation Insight by Product and Services On the basis of product and services, the market is subdivided into radiation dose management solutions, and radiation dose management services. Of all product and services, the radiation dose management solutions segment accounted for the larger share in the market. The radiation dose management services segment is further subdivided into support & maintenance services, consulting services, implementation & integration services, and education & training services. Among all radiation dose management services, the implementation & integration services accounted for the largest share in the market. The radiation dose management solutions segment is further subdivided into standalone solutions and integrated solutions. Among both solutions, the integrated solution is expected to grow at a faster rate in the market due to higher efficiency. Insight by Modality On the basis of modality, the market is subdivided into radiography and mammography, nuclear medicine, fluoroscopy, and interventional imaging, and computed tomography. Of all the modalities, the computed tomography accounted foremost share in the radiation dose management market due to the mounting occurrence of diseases and requirement for the diagnosis of these diseases. Insight by End User The different end users of the market are hospitals, research institutes and academic medical centers, and ambulatory care settings. Among all end users, the hospitals accounted for the largest share in the radiation dose management market as enormous numbers of diagnostic procedures are done in the hospitals for the treatment and management of several diseases. Industry Dynamics Growth Drivers Mounting concerns over radiation overexposure, escalating emphasis on improving quality of patient care, strict regulatory requirements for patients care and safety, the mounting occurrence of chronic diseases such as cancer and cardiovascular diseases, and expanding alertness and initiatives for radiation dose management are the primary growth drivers for radiation dose management market. Technological advancements, augmented usage of interventional imaging and nuclear medicine in medical imaging, escalating acceptance of electronic health records, expanding the geriatric population, escalating healthcare expenditure, and mounting emphasis on interventional radiology and nuclear medicine are also facilitating the growth for the radiation dose management market. Challenges Low acceptance of radiation dose management solutions in developing countries, lack of skilled professionals and knowledge, and absence of reimbursement for accepting radiation dose management solutions are the major challenges for the growth of radiation dose management market. Opportunities Technological advancement and escalating emphasis on interventional radiology and nuclear medicine are anticipated to create opportunities for the radiation dose management market. Radiation dose is the amount of radiation energy absorbed by the body. Radiation dose management is calculating a dose essential for a procedure to avoid the elevated radiation dose exposure to patients. Radiation dose management players are involved in the development of innovative and advanced radiation dose management solutions. For instance, in November 2017, PACSHealth, LLC, released DoseMonitor version 2.5.2, for the gathering and recording of medical imaging patient radiation dosage data, and for interactive reporting graphics, improved analytics, data management, and visualization for interventional radiology. Geographic Overview Geographically, North America is the largest radiation dose management market as in the region the number of hospitals and healthcare centers is huge. In addition, the mounting occurrence of chronic diseases, escalating alertness about radiation dose safety, expanding healthcare expenditure, and strict regulatory requirements for patients care and safety are also up surging growth of the North American radiation dose management market. Europe is observed to witness the fastest growth in the market, due to a government initiative to upsurge patient safety. In addition, the mounting occurrence of chronic diseases, expanding healthcare expenditure, and rising alertness about radiation dose safety through campaigns and conferences are also creating a positive impact on the radiation dose management market growth in the region. Competitive Insight Key players in the radiation dose management market are catering to the demand of these devices by investing in technologically advanced products in their product portfolio across the globe. In May 2018, Medsquare is selected to offer radiation dose monitoring software in southern France for an e-health initiative. Bayer AG, Fujifilm Holdings Corporation, Medsquare, General Electric Company, Koninklijke Philips N.V., Agfa Gevaert, PACSHealth, LLC, Bracco Imaging S.P.A., Siemens AG, QAELUM N.V., Sectra AB, and Novarad Corporation are the key players offering radiation dose management.
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