The market size of the global radiation dose management market in the year 2021 is valued at 229.80 million and is predicted to reach 743.37 million by the year 2030 at an 14.27% CAGR during the forecast period.
The effect of radiation on the skin is referred to as "radiation dosage," depending on exposure, skin sensitivity, and radiation intensity. The management of radiation dosage components includes real-time staff dose monitoring, radiation dose tracking software knowledge, technology to reduce exposure, and regulatory compliance. For instance, scintigraphy is a method that aids in administering low-dose radiation while producing high-quality images of diagnosis, calculating and documenting the dose level, managing patient data, and sharing with regulatory authorities. The major factors driving the radiation dose management market are the increasing demand for patient safety and improved healthcare services, the increase in dose management campaigns around the world with the goal of patient safety, and the growth in awareness regarding radiation safety among patients, physicians, and technicians. The prevalence and danger of chronic diseases are rising, as are patient understanding of the effects of prolonged radiation exposure and the growing uptake of electronic health records, all of which is accelerating the expansion of the radiation dose management market.
Additionally, the market for radiation dose management benefits from rising healthcare awareness and spending. The rise in pediatric operations and growing interest in nuclear medicine and interventional radiology create lucrative opportunities for the players in the radiation dose management market during the anticipated decade. On the other hand, inadequate financing and a lack of benchmarks for dose optimization are the main factors anticipated to restrain the growth of the radiation dose management market.
Market Segmentation:
The radiation dose management market is segmented by product, component and application. Based on product, the market is segmented into dosimeters and area process monitors. Based on the component, the market is segmented into software and services. Based on the application, the market is segmented into radiography, angiography, mammography, fluoroscopy, and interventional imaging.
Based on product, the dosimeters category is accounted as a significant contributor to the radiation dose management market.
The dosimeter category dominated the market in 2021. The growing use of dosimeters in the medical industry due to the rise in cancer cases worldwide is a significant element influencing segment revenue growth. As radioactive materials are used more often in various sectors, such as different industrial processes, power production, medical imaging, medical research, and the defence industry, there is a growing need for dependable equipment that shields against radioactive radiation. As the number of imaging devices rises, so will the hospital staff's exposure to radiation. Dosimeters will unavoidably become more necessary as the requirement for radiation protection for hospital staff members grows.
The software category witnessed growth at a rapid rate.
The software category dominated the market in 2021 because the software for monitoring dose management is becoming more widely used. Due to its ability to promote protocol modification, reduce risky behaviours, and facilitate systematic dose performance control, dosage monitoring software is crucial to radiologic quality management. Dosimetric data can currently be automatically retrieved, stored, and evaluated using software solutions. Most of these IT resources are web-based and may be installed on hospital networks so that all authorized users can access them.
The North American radiation dose management market holds a significant regional revenue share.
The North American radiation dose management market is expected to register the highest market share in revenue soon. Major factors influencing market revenue growth include significant investments in healthcare infrastructure and increased adoption of cutting-edge technologies in the medical sector. Increasing automation in the medical sector is also a significant element boosting market revenue growth. Governments in various nations have started several awareness campaigns about the disease's early detection and diagnosis. This is yet another essential element that supports the ongoing expansion of market revenue. Due to the abundance of qualified healthcare professionals in the U.S., this market generated the most significant revenue share. In addition, Asia Pacific is projected to proliferate in the global radiation dose management market. An important driver boosting market revenue growth in this region is substantial investments in healthcare infrastructure. Medical imaging diagnoses are also being used in healthcare institutions in China, India, and other nations because of their many advantages. This substantially boosts market revenue growth. Breast cancer, deep vein thrombosis, coronary heart disease, and other medical conditions can all be diagnosed using medical imaging technologies like X-rays, mammography, computed tomography, and fluoroscopy. Japan's market captured the most significant revenue share because of its robust economic situation.
Competitive Landscape
Key players in the radiation dose management market are Bayer AG, General Electric Company, Koninklijke Philips N.V., Siemens Healthcare GmbH, FUJIFILM Holdings Corporation, Sectra AB, Medic Vision, Agfa-Gevaert Group, Novarad and Guerbet.
