New York, Feb. 16, 2022 (GLOBE NEWSWIRE) -- The Insight Partners published latest research study on “Radiation Dose Management Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Service/Software (Radiation Dose Management Services and Radiation Dose Management Software), By Medium (Computed Tomography, Radiation and Mammography, Fluroscopy and Mammography, Others), End User (Hospitals, Research and Medical Institutes, Others)”.
The radiation dose management market growth is driven by the characterization of environmental nanoparticles, the growing concerns related to radiation exposure and rising cases of cancer demanding radiation therapy, growing focus on interventional radiology and nuclear medicine. The radiation dose management software segment dominated the global market and held the largest revenue share of 77.67% in 2021. North America is the fastest-growing region growing at the CAGR of 13.8% during 2021–2028.
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| Report Coverage | Details |
| Market Size Value in | US$ 270.32 million in 2021 |
| Market Size Value by | US$ US$ 646.87 million by 2028 |
| Growth rate | CAGR of 13.3% from 2021 to 2028. |
| Forecast Period | 2021- 2028 |
| Base Year | 2021 |
| No. of Pages | 206 |
| No. Tables | 138 |
| No. of Charts & Figures | 78 |
| Historical data available | Yes |
| Segments covered | Service/Software, By Medium, End User |
| Regional scope | North America; Europe; Asia Pacific; Latin America; MEA |
| Country scope | US, UK, Canada, Germany, France, Italy, Australia, Russia, China, Japan, South Korea, Saudi Arabia, Brazil, Argentina |
| Report coverage | Revenue forecast, company ranking, competitive landscape, growth factors, and trends |
Radiation Dose Management Market: Competition Landscape and Key Developments
FUJIFILM Holdings Corporation; Bayer AG; Bracco Imaging S.p.A; GE Healthcare; Koninklijke Philips N.V.; Medsquare; Novarad Corporation; QAELUM INC; Sectra AB; and PACSHealth, LLC are among the key companies operating in the radiation dose management market. The market leaders adopt strategies such as new product launch, expansion and diversification, and acquisition, which allow them to tap into prevailing business opportunities.
In August 2021, GE Healthcare announced the installation of its latest version of the DoseWatch contrast and radiation monitoring software by Affidea. They further announced that Affidea's centers in Hungary are utilizing version 3.2 of GE's DoseWatch software, along with a new business intelligence tool that permits enhanced monitoring of dosing.
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In December 2020, Bayer AG announced the newest evolution of its enterprise dose management application, Radimetrics v3.0. Radimetrics 3.0 assists patient-care teams report, track, and manage radiation dose and contrast dose throughout the chain of care with enhanced functionality and features.
In 2021, North America dominated the radiation dose management market. The US holds the largest share of the market in this region. The market growth in the country is attributed to increasing concern on the exposure to high doses of radiation due to risks associated with ionizing radiation. However, shortage of well-equipped healthcare facilities and high installation costs of equipment hinder the market growth in the region.
Growing Concerns Related to Radiation Exposure Fuels Radiation Dose Management Market Growth:
Patient exposure to radiation has increased significantly over the past two decades. This is due to the increasing use of radiological procedures such as CT, fluoroscopy, and interventional imaging procedures, combined with an increase in the radiation doses used in these procedures. According to a study by the American Medical Association that analysed data from more than 135 million imaging exams in the United States and Ontario, Canada over the period 2000-2016, the annual increase in CT, MRI, and ultrasound exams was highest in the earlier years (i.e., between 2000 and 2006), but increased by 1–5% annually between 2012 and 2016 for most age groups. Unnecessary radiation exposure can result from using a radiation dose over that optimal to meet the clinical needs of a particular procedure. In diagnostic imaging modalities, higher tube currents are generally used for obese patients for the purpose of improving the image quality. For this reason, the risk of radiation exposure for obese patients is high. Historically, dose management has not been a significant concern for the medical community as their primary focus has been on image quality (where overexposure yielded better images). As a result, the doses of radiation used in procedures gradually increased. This increased the risk of overexposure to radiation in patients.
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Radiation Dose Management Market: Segmental Overview
Based on service / software, the global radiation dose management market is bifurcated into radiation dose management services and radiation dose management software. The market for the radiation dose management services segment is subsegmented into implementation and integration services, support and management services, and other services. The market for the radiation dose management software segment is further bifurcated into integrated software and standalone software. In 2021, the radiation dose management software segment held a larger share of ~77.67% of the market. Based on medium, the global radiation dose management market is segmented into computed tomography, radiation and mammography, fluoroscopy and mammography, and other medium. In 2021, the computed tomography segment held the largest share of ~42.54% of the market. Based on end user, the market is segmented into hospitals, research and medical institutes, and other end users. In 2021, the hospitals segment held the largest share of ~51.14% of the market.
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