Radiation Dose Management Market : North America accounted for the largest share

The study involved four major activities to estimate the current size of the radiation dose management market. Exhaustive secondary research was done to collect information on the market and its different subsegments. The next step was to validate these findings, assumptions, and sizing with industry experts across the value chain through primary research. Both top-down and bottom-up approaches were employed to estimate the complete market size. Thereafter, market breakdown and data triangulation procedures were used to estimate the market size of the segments and subsegments.

Major Growth Drivers: 

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.

Expected Revenue Growth: 

The 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.

COVID -19 IMPACT ON THE RADIATION DOSE MANAGEMENT MARKET

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.

Accessories to Fuel the Growth of Radiation dose management market  : 

DRIVER: Growing concerns over radiation exposure

In the last two decades, radiation exposure to patients has increased significantly. This can be attributed to the growing use of radiological procedures such as CT, fluoroscopy, and interventional imaging procedures, coupled with an increase in the radiation doses used in these procedures. In diagnostic imaging modalities, higher tube currents are used for obese patients to improve image quality. Owing to this, the risk of radiation overexposure for obese patients is high.

OPPORTUNITY: Growing focus on interventional radiology and nuclear medicine

Across the globe, an increasing number of interventional radiology and nuclear medicine procedures are being performed owing to their high imaging efficiency. These procedures use a very high dose of radiation for patients; this, coupled with the longer duration of these procedures, can increase the risk of cancer in patients undergoing these procedures. According to the Society of Nuclear Medicine, around 20 million nuclear medicine procedures are performed every year in the US. As reported by the World Nuclear Association, more than 10,000 hospitals worldwide use radioisotopes in medicine; 90% of the procedures involving radioisotopes are diagnostic.

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The radiation dose management solutions segment is expected to grow at the highest CAGR during the forecast period

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.

The computed tomography segment accounted for the largest share of the radiation dose management market in 2019

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

North America accounted for the largest share of the radiation dose management 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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