Radiation Dose Management Market size is estimated to reach $434 million by 2026, growing at a CAGR of 12.7% during the forecast period 2021-2026. Radiation Dose Management is the technique of ordering the flow of radiation dose information to examine and determine dose performance. The increasing count of multi-specialty hospitals and the heightening investment by government and private entities to choose healthcare IT technologies are fuelling the growth of the radiation dose management market. X-ray radiation is electromagnetic radiation of the intensely short wavelength and great frequency, with wavelengths varying from nearly 10-8 to 10-12 meters and corresponding frequencies from about 1016 to 1020hertz (Hz). A computed tomography (CT or CAT) scan permits physicians to view inside the body. Computed tomography (CT) utilizes a combo of X-rays and a computer to construct images of the organs, bones, and other tissues. Although Computed Tomography (CT) is related to considerably greater radiation exposure than conventional x-rays, standard clinical doses are not noted. Medical imaging is the procedure of imaging the inside of a body for clinical analysis and medical intervention, and also a perceptible depiction of the operation of some organs or tissues (physiology). Radiation dose from medical imaging has been under close examination recently in the medical and lay press. This is the consequence of current articles on the heightening cancer hazards connected to computed tomography (CT), and current cases of excess radiation exposure from CT brain perfusion scans. Cardiology is the section of medicine associated with ailments and abnormalities of the heart. Radiation dose is administered in interventional cardiology. The enhanced healthcare infrastructure and the increasing spend on healthcare are set to propel the growth of the Radiation Dose Management Market during the forecast period 2021-2026. This represents the Radiation Dose Management Industry Outlook.
Radiation Dose Management Market Segment Analysis – By Technology
The Radiation Dose Management Market based on product type can be further segmented into Computed Tomography, Fluoroscopy and Interventional Imaging, Radiography, Mammography, and Nuclear Medicine. The Computed Tomography (CT) Segment held the largest market share in 2020. This growth is owing to the increased application of computed tomography (CT) to view inside the body to detect cancer. There has been increasing in radiation exposure in patients who have undergone tomography (CT). Novel CT equipment with dose decrease hardware and software-embedded technology brings down the hazard of radiation exposure to patients. Furthermore, the Radiography segment is estimated to grow with the fastest CAGR of 13.4% during the forecast period 2021-2026 owing to its increased application in investigations and processes where a log of the static image is required like mammography.
Radiation Dose Management Market Segment Analysis – By Application
The Radiation Dose Management Market based on the application can be further segmented into Oncology, Cardiology, Orthopaedic Application, and Others. The Oncology segment held the largest market share in 2020. This growth is owing to a boost in the count of cancer cases worldwide, resulting in the application of computed tomography (CT) and subsequent radiation therapy as recommended. X-ray Computed Tomography (CT) is a recognized technique in clinical diagnostics. Radiation dose in Computed Tomography (CT) is computed from dose indices determined in standardized phantoms. Furthermore, the Cardiology segment is estimated to grow with the fastest CAGR of 13.1% during the forecast period 2021-2026 owing to the increased utilization of radiation doses in interventional cardiology. Patient exposure at the time of an interventional cardiology process has an average mean between 8 to 10 mSv, with some complicated processes utilizing considerably bigger doses.
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Radiation Dose Management Market Segment Analysis – By Geography
The Radiation Dose Management Market based on geography can be further segmented into North America, Europe, Asia-Pacific, South America, and the Rest of the World. North America (Radiation Dose Management Market) held the largest share with 30% of the overall market in 2020. The growth of this region is owing to the increasing incidences of chronic ailments like cancer requiring radiation dose and computed tomography. Furthermore, the Asia-Pacific region is estimated to be the region with the fastest CAGR rate over the forecast period 2021-2026. This growth is owing to factors like the growing count of patients and the heightening utilization of technology in countries like India which is fuelling the progress of the Radiation Dose Management Market in the Asia-Pacific region. The increased awareness and application of radiation therapy in hospitals and diagnostic centers is fuelling the growth of the Radiation Dose Management Market worldwide.
Radiation Dose Management Market Drivers
Increasing Predominance Of Incessant Ailments Is Projected To Drive The Growth Of Radiation Dose Management Market
As per World Health Organization (WHO), nearly 70% of demises from cancer happen in low- and middle-income countries. Furthermore, WHO figures indicate that the total yearly cost of cancer in 2010 was approximated at the U.S. $1.16 trillion. The boost in the count of cancer cases is resulting in the more significant application of computed tomography (CT) to view inside the body to detect cancer and consequent radiation therapy, which is fuelling the growth of the Radiation Dose Management Market during the forecast period 2021-2026.
Technological Innovations In Radiation Therapy Are Expected To Boost The Demand Of Radiation Dose Management Market
Technological innovations in radiation therapy alongside conventional x-rays are driving the growth of the Radiation Dose Management market. Robot-assisted brachytherapy is one of the most recent technological innovations in radiation therapy. With progressive technology, radiation therapy for prostate cancer can be enhanced utilizing high-quality multimodal imaging, robot assistance for brachytherapy, and External Beam Radiation Therapy (EBRT). In modern brachytherapy processes, needle placement at the required target is challenging owing to a range of reasons. A robot-assisted brachytherapy system may enhance the needle placement and seed delivery, leading to improved patient care. These innovations in radiation therapy are driving the growth of the radiation dose management market during the forecast period 2021-2026.
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Radiation Dose Management Market Challenges
Increasing Concerns Of Radiation Exposure From Computed Tomography (CT) Are Hampering The Radiation Dose Management Market
Increasing concerns of radiation exposure from computed tomography (CT) have resulted in different approaches in dose reduction technologies. The boost in the count of investigations has made computed tomography (CT) one of the largest sources of medical radiation, with a sixfold boost in the per-capita annual effective dose from medical processes in the U.S., from 0.5 mSv in 1980 to 3 mSv in 2006. In Switzerland, although responsible for only 6% of the investigations that have utilized ionizing radiation in 2008, computed tomography (CT) was responsible for 68% of the yearly medical radiation exposure. Most of the existing written material on cancer hazard estimation from Computed Tomography (CT) is based on atomic bomb survivors in Japan from 1945 (referred to as the Life Span Study). Some recent investigations have also displayed a correlation between radiation exposure with the application of computed tomography (CT) and cancer risk in children and young adults. Furthermore, the hazard of cancer from exposures within the diagnostic radiology range remains controversial. These issues are hampering the growth of the Radiation Dose Management Market.
Radiation Dose Management Market Landscape
Product launches, mergers and acquisitions, joint ventures, and geographical expansions are key strategies adopted by players in the Radiation Dose Management Market. Key companies of this market include:
Bayer AG
GE Healthcare Ltd.
Mirion Technologies, Inc.
Toshiba Medical Systems Corporation
LandauerSectra Medical Systems GmbH
Philips Healthcare
Medsquare
Siemens Healthcare Pvt Ltd.
PACSHealth, LLC
Acquisitions/Product Launches
In September 2021, GE Healthcare launched Revolution Ascend, a novel CT System to boost operational efficiency and patient comfort. GE Healthcare revealed Revolution Ascendvi with effortless workflow, providing clinicians with a group of artificial intelligence technologies that automate tedious tasks to boost operational efficiency and free up time for clinicians to provide greater personalized care to more patients.
In September 2020, Philips introduced novel innovations to assist people to remain on top of their health. Health-at-home expedites and is here to stay. Philips has launched connected solutions that provide insights and enable people to make personalized, healthy lifestyle selections.
Key Takeaways
Geographically, North America Radiation Dose Management Market accounted for the highest revenue share in 2020 and it is poised to dominate the market over the period 2021-2026 owing to the tight regulations for patient security and patient care and heightening hazards and occurrences of incessant ailments in the section of cardiology in the North American region.
Radiation Dose Management Market growth is being driven by the enormous pool of patients like in the cardiology section and increasing awareness among patients in developing nations. However, decreasing and recording the radiation dose has evolved into an important area in radiology. The performance of these functions being challenging and is one of the major factors hampering the growth of the Radiation Dose Management Market.
Radiation Dose Management Market Detailed Analysis on the Strength, Weakness, and Opportunities of the prominent players operating in the market will be provided in the Radiation Dose Management Market report.
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