Coronavirus’ business impact : Radiation Dose Management Market 2020 Research by Business Analysis, Strategy and Industry Development to 2025
Several countries across the globe have seen non-urgent diagnostic imaging surgeries being postponed due to the pandemic. These procedures utilize additional resources and increase the risk of complications; depending on the procedure, they also increase the chance of needing equipment, resources, or materials such as hospital beds and PPE.
Growth of the market is mainly driven by the increasing use of medical imaging modalities due to the rising incidence of chronic diseases, increasing concerns over radiation dose exposure, growth in the installed base of radiology equipment, and growing awareness on radiation dose management.
What the Radiation Dose Management Market Looks Like?
MarketsandMarkets forecasts radiation dose management market size is projected to reach USD 423 million by 2025 from USD 220.22 million in 2020, at a CAGR of 13.9% during the forecast period. North America accounted for the largest share of the radiation dose management market in 2019.
Based on product & service, the radiation dose management market is segmented into radiation dose management solutions and radiation dose management services. The radiation dose management solutions segment is projected to witness the highest growth during the forecast period.
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What Drives the Radiation Dose Management Market?
The growth of the global market for Radiation Dose Management Market is primarily influenced by the following factors:
- Increasing use of medical imaging modalities due to the growing burden of chronic diseases
- Growing concerns over radiation exposure
- Growing installation base of radiology equipment
- Growing awareness about radiation dose management
By modality, the radiation dose management market is segmented into computed tomography (CT), fluoroscopy & interventional imaging, mammography, and nuclear medicine. The computed tomography segment accounted for the largest market share in 2019. The large share of this segment can be attributed to the increasing number of CT examinations worldwide and the rising awareness of radiation dose exposure.
Recent Developments :
- In 2018, Sectra AB launched Sectra Dosetrack.
- In 2018, Sectra AB launched Gadolinium Tracking in its dose monitoring solution.
- In 2017, DOSE, Qaelum's dose management solution, expanded its reach in radiology and medical imaging departments in the UK.
Geographical growth scenario of Radiation Dose Management Market :
Based on the region, the radiation dose management market is segmented into North America, Europe, Asia Pacific, and the Rest of the World (RoW). In 2019, North America accounted for the largest share of the radiation dose management market. The large share of North America can be attributed to factors such as the stringent legislative and accreditation requirements regarding the reporting and optimization of radiation doses, high adoption of HCIT technologies, and the presence of stringent regulatory requirements regarding patient safety.
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Leading market players and strategies adopted
Some of the major players operating in this market are Bayer AG (Germany), GE Healthcare (US), Philips Healthcare (Netherland), and Sectra AB (Sweden). In 2019, Bayer AG held the leading position in the radiation dose management market. The company has an extensive geographical presence spanning North America, Europe, Asia Pacific, and Latin America.
Moreover, the company’s strong brand recognition and comprehensive product portfolio in the radiation dose management market is its key strength. GE Healthcare held the second position in the radiation dose management market in 2019.
Critical questions the report answers:
- Where will all these developments take the industry in the long term?
- What are the upcoming trends for the pharmacy automation market?
- Which segment provides the most opportunity for growth?
- Who are the leading players operating in this market?
- What are the opportunities for new market entrants?
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