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.
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.
According to the new market research report by MarketsandMarkets, global 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.
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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.
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. The increasing adoption of radiation dose management solutions by healthcare providers owing to the growing regulations regarding ionizing radiation across the globe is the major factor supporting the growth of this segment.
North America accounted for the largest share of the radiation dose management Services market in 2019
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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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.