Radiation Dose Management Market
Number of pages: 100 | Report Format: PDF | Published date: April 14, 2023
Historical Years – 2021 | Base Year – 2022 | Forecasted Years – 2023-2031
|
Report Attribute |
Details |
|
Market Size Value in 2022 |
US$ 261.21 million |
|
Market Size Value in 2031 |
US$ 925.39 million |
|
CAGR |
14.3% |
|
Base Year For Estimation |
2022 |
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Forecast Period |
2023 to 2031 |
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Historical Year |
2021 |
|
Segments Covered |
Product & Services, Modality, End User, and Region |
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Regional Scope |
North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa |
According to the deep-dive market assessment study by Growth Plus Reports, the global radiation dose management market was valued at US$ 261.21 million in 2022 and is expected to register a revenue CAGR of 14.3% to reach US$ 925.39 million by 2031.
Radiation Dose Management Market Fundamentals
Radiation dose management refers to optimizing and minimizing the dose of patient’s radiation during medical imaging procedures while maintaining diagnostic image quality. Medical imaging procedures that use radiation, such as X-rays, CT scans, and fluoroscopy, are valuable diagnostic tools that provide physicians with detailed images of the body. Radiation dose management involves various technologies and techniques to reduce patient exposure to radiation while maintaining diagnostic image quality. This may include low-dose imaging protocols, dose modulation techniques, and advanced imaging technologies that use lower radiation doses. Additionally, radiation dose management involves tracking and reporting the amount of radiation that patients are exposed to during medical imaging procedures, which can be used to identify patients who may be at risk of high radiation exposure and to optimize radiation dose levels for individual patients.
Radiation dose management is important for ensuring patient safety and minimizing the risks associated with medical imaging procedures that use radiation. As healthcare providers seek to improve patient outcomes and comply with regulatory requirements, the demand for radiation dose management solutions and services is expected to grow.
[2020]
Radiation Dose Management Market Dynamics
The rising incidence of chronic diseases such as cancer, cardiovascular diseases, and respiratory disorders has led to a significant increase in the use of medical imaging devices. This, in turn, has driven the demand for the global radiation dose management solutions market to reduce patients’ radiation exposure. For instance, according to the WHO’s February 2022 factsheet, cancer is a leading cause of death globally, which accounted for nearly 10 million deaths in 2020, or nearly 1 in 6 deaths. With the growing awareness about the potentially harmful effects of ionizing radiation on patients, healthcare providers, and regulatory bodies have become increasingly concerned about minimizing radiation exposure, leading to healthcare providers adopting radiation dose management solutions. The development of advanced radiation dose management solutions has also made it possible to reduce radiation exposure while maintaining image quality. This has made it easier for healthcare providers to adopt these solutions and fuel the growth of the global radiation dose management market. Moreover, governments worldwide have taken initiatives to promote radiation safety in healthcare.
However, the high cost of radiation dose management solutions is a major restraint for the market. Many healthcare providers cannot afford these solutions, particularly in developing countries with limited healthcare budgets. Despite the growing awareness about the harmful effects of radiation, healthcare providers still have limited awareness about radiation dose management solutions. This can slow down the adoption of these solutions. Additionally, stringent regulatory requirements, technological limitations, and lack of standardization are some of the restraints impeding the overall radiation dose management market revenue growth.
Radiation Dose Management Market Ecosystem
The global radiation dose management market is analyzed from four perspectives: product & services, modality, end user, and region.
Radiation Dose Management Market by Product & Services
[3025]
Based on the product & services, the global radiation dose management market is segmented into radiation dose management solutions and radiation dose management services.
The radiation dose management solutions segment dominated the market with the principal revenue share in 2022. These solutions are used by healthcare providers, including hospitals and diagnostic imaging centers, to ensure patient safety and compliance with regulatory requirements. The radiation dose management solutions are further classified into standalone solutions and integrated solutions. Standalone solutions refer to those that can be implemented as standalone systems without the need for integration with other healthcare IT systems. These solutions are typically used by smaller healthcare providers or those with limited IT infrastructure. Integrated solutions refer to solutions that are integrated with other healthcare IT systems, such as electronic health records (EHRs), picture archiving and communication systems (PACS), and radiology information systems (RIS). These solutions provide a comprehensive approach to radiation dose management, offering real-time monitoring and management of radiation exposure across the patient population. These factors contribute to the revenue growth of the radiation dose management solutions segment.
The radiation dose management services also accounted for a prominent market revenue share in 2022. The radiation dose management services include consulting, training, support, implementation & integration services designed to help healthcare providers implement and manage radiation dose management programs. Specialized vendors with expertise in radiation safety, medical imaging, and regulatory compliance typically provide these services. These factors contribute to the revenue growth of the radiation dose management services segment.
Radiation Dose Management Market by Modality
Based on the modality, the global radiation dose management market is segmented into fluoroscopy & interventional imaging, computed tomography, and nuclear medicine, radiography & mammography.
The computed tomography segment dominated the market with the largest revenue share in 2022 due to the increasing number of CT examinations worldwide and the rising awareness of radiation dose exposure. Computed tomography (CT) refers to medical imaging procedures that use X-rays and computer algorithms to produce detailed images of the body. CT imaging is a widely used diagnostic tool that can provide physicians with valuable information about the body’s structure and function. Radiation dose management solutions for CT imaging typically include dose tracking and reporting, dose reduction techniques, and quality assurance. Dose tracking and reporting allow healthcare providers to track and report how much radiation patients are exposed to during CT imaging procedures. This information can be used to identify patients who may be at risk of high radiation exposure and to optimize radiation dose levels for individual patients. These overall factors contribute to the revenue growth of the computed tomography segment.
Fluoroscopy and interventional imaging also account for a significant revenue share of the market. Fluoroscopy and interventional imaging refer to solutions that are specifically designed to monitor and manage radiation exposure in patients undergoing interventional procedures that involve the use of fluoroscopy. Fluoroscopy is a medical imaging procedure that uses X-rays to create real-time images of the body. It is commonly used in interventional procedures such as angioplasty, stent placement, and cardiac catheterization.
Radiation Dose Management Market by End User
Based on the end user, the global radiation dose management market is segmented into hospitals, ambulatory care settings, and others.
The hospital segment dominated the radiation dose management market with the largest revenue share in 2022. Hospitals provide a wide range of medical services, including radiation diagnostic imaging procedures. These facilities include large tertiary care hospitals, community hospitals, and specialty hospitals. Hospitals are among the largest end users of radiation dose management solutions and services. This is because hospitals typically perform a high volume of medical imaging procedures and have a large patient population to manage. Radiation dose management solutions are used in hospitals to ensure patient safety and compliance with regulatory requirements, as well as to optimize imaging protocols and reduce unnecessary radiation exposure. Hospitals are often early adopters of new technologies and are willing to invest in innovative solutions to improve patient outcomes and reduce costs. Additionally, the increasing use of advanced imaging technologies, such as CT and fluoroscopy, is expected to drive demand for radiation dose management solutions in hospitals.
Radiation Dose Management Market by Region
Based on region, the global radiation dose management market is segmented into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa.
North America dominated the global radiation dose management market with the largest revenue share in 2022, attributed to the presence of key market players and the fast adoption of technology. Additionally, companies across the region are continuously involved in launching new and improved products, which is also expected to improve the radiation dose management market. For instance, in December 2020, Bayer Radiology released Radimetrics v3.0, the most recent version of their enterprise dosage management program. The newly developed system meets several of the most recent certification criteria for dosage reporting and monitoring, protocol management, benchmarking, and providing the most up-to-date cyber security. Radimetrics 3.0, with improved functionality and capabilities, assists patient-care teams in reporting, tracking, and managing radiation exposure and contrast dosage across the chain of care, including,
Radiation Dose Management Competitive Landscape
The prominent players operating in the global radiation dose management market are:
Radiation Dose Management Strategic Developments
Radiation dose management refers to optimizing and minimizing the radiation dose that patients receive during medical imaging procedures while maintaining diagnostic image quality.
The prominent players operating in the global radiation dose management market are Sectra AB, Novarad Corporation, PACSHealth, LLC, Medsquare, and GE Healthcare.
The global radiation dose management market was valued at US$ 261.21 million in 2022.
The expected size of the global radiation dose management market in 2031 is US$ 925.39 million.
The stringent regulatory requirements, technological limitations, and lack of standardization restrict global radiation dose management market revenue growth from its full potential.
*Insights on financial performance are subject to the availability of information in the public domain