Radiation Dose Management Market to Reach USD 505.3 Million By 2027 | CAGR of 12.6%: Emergen Research

VANCOUVER, B.C., Oct. 7, 2020 /PRNewswire/ -- The Global Radiation Dose Management Market is forecast to be worth USD 505.3 million by 2027, according to a new report by Emergen Research. Increasingly expanding healthcare facilities, led by rapidly growing imaging device deployments, are considered to be prominent drivers for the global demand for radiation dose control through the projected era. Following this, a growing focus on the introduction by policy authorities of uniform standards for radiation exposure is anticipated to improve radiation acceptance dose management systems in the coming years. For instance, the organization of the Heart Rhythm Society, the American College of Cardiology, the North American Society for Cardiovascular Imaging, and other organizations released a consensus paper on the practical usage of radiation when carrying out cardiovascular imaging in 2018.

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Regulation of the radiation dose is used to monitor and measure the number of prescriptions needed during treatment such that it can avoid the high radiation dose among patients. In patients, they avoid burns and radioactive exposure that happens due to the over-dose of radiation. They play a crucial role in reducing patients' exposure to damaging doses of radiation under imaging procedures. Nevertheless, the shortage of healthcare facilities in developing countries and the higher implementation costs of electronic systems are likely to impede the development of the global radiation dose management market during the forecast period.

Area of use where diagnostic imaging is widely applied includes radiography, angiography, mammography, and fluoroscopy & interventional imaging, among others. Many suppliers of diagnostic imaging equipment are actively interested in integrating radiation exposure control devices into these imaging applications. Compared to other imaging methods, X-ray and computed tomography technologies release a significant volume of radiation. The industry demonstrates strong growth potential, owing to the high incidence of chronic illnesses, efficient and safe care-focused treatment approaches, and consumer consciousness-raising.

Due to the increasing prevalence of radiation-associated diseases, North America is expected to register a comparatively higher CAGR in the global radiation dose management market. According to evidence released in the American Heart Association Journal (AHAJ) in 2018, the patient incidence of cancer decreases following the first ten radiation exposures correlated with computed tomography angiography procedures. In the global radiation exposure control industry, Asia Pacific is projected to experience slightly slower growth due to higher device deployment costs and a lack of uniform standards in developing nations. Improving technologies and evolving healthcare infrastructure in developing countries, however, is projected to create a favorable climate for substantial global radiation dose management systems.

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Further key findings from the report suggest

  • Based on component, the service category generated substantial revenue in 2019 and is estimated to rise with a CAGR of 12.9% in the forecast period, due to increasing patient understanding of issues such as the harmful effects of diagnostic imaging pollution, which has forced healthcare facilities to scrutinize quality control of diagnostic ionization pollution.
  • The area process monitors sub-segment is expected to grow with a CAGR of 7.9% in the forecast period due to its use in the control of ionization pollution exposure. Such devices support activities with high accuracy and effectiveness of radiation monitoring and warnings where a violation of permissible radiation standards arises.
  • The radiography application is the major contributor to the Radiation Dose Management Market. The radiography application of the North America region is the major shareholder of the market and held around 31.3% of the market in the year 2019, due to its increasing use in cancer diagnosis, that is a significant burden of disease and its increasing prevalence owing to a rise in the worldwide geriatric population community-radiography category.
  • North America dominated the market for Radiation Dose Management in 2019 due to the danger of exposure to radiation from diagnostic imaging and the existence of legal criteria for the usage of ionizing pollutants. The North America region held approximately 35.7% of the market, followed by the Asia Pacific, which contributed to around 30.9% of the market revenue in the year 2019.
  • Key participants include Thermo Fisher Scientific Inc., Philips Healthcare, Landauer Inc., GE Healthcare, Medicvision, Bayer AG, Toshiba MSC, Sectra, Seimens Healthcare Private Limited, and Infinitt Healthcare Co. Ltd., among others.

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For the purpose of this report, Emergen Research has segmented the Global Radiation Dose Management Market based on the component, product, application, and region:

Component Outlook (Revenue, USD Million; 2017-2027)

  • Software
  • Service

Product Outlook (Revenue, USD Million; 2017-2027)

  • Dosimeters
  • Area Process Monitors
  • Others

Application Outlook (Revenue, USD Million; 2017-2027)

  • Radiography
  • Angiography
  • Mammography
  • Fluoroscopy & Interventional Imaging
  • Others

Regional Outlook (Revenue, USD Million; 2017-2027)

  • North America
    • U.S.
    • Canada
  • Europe
    • Germany
    • U.K.
    • France
    • Benelux
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • South Korea
    • Rest of APAC
  • Latin America
    • Brazil
    • Rest of LATAM
  • Middle East & Africa
    • Saudi Arabia
    • UAE
    • Rest of MEA

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