Redding, California, Dec. 06, 2022 (GLOBE NEWSWIRE) -- According to a new market research report titled, ‘Radiation Dose Management Market by Solution & Service, Modality (CT, Nuclear Medicine, Fluoroscopy, Mammography), Application (Oncology, Cardiology, Orthopedic, Neurology), End User (Hospitals, Ambulatory Care Setting) - Global Forecast to 2029,’ published by Meticulous Research®, the radiation dose management market is projected to reach $749.1 million by 2029, at a CAGR of 13.3% from 2022 to 2029.
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Radiation dose management has increased due to increased availability and reliance on high-dose imaging modalities for rapid and comprehensive diagnosis and treatment. However, medical imaging procedures pose risks due to high doses of radiation to patients. To tackle this, major players are launching radiation dose management products. For instance, in November 2021, Siemens Healthineers (Germany) launched NAEOTOM Alpha, the world’s first CT scanner with photon-counting technology. This system increases resolution and reduces radiation dose by up to 45 percent for ultra-high resolution (UHR) scans compared with conventional CT detectors. This reduction in radiation dose enables regular examinations such as lung cancer screenings using CT imaging on a routine basis for a large patient population.
The demand for radiation dose management is experiencing a surge owing to the increasing use of diagnostic imaging modalities, concerns regarding radiation exposure, and increasing awareness about radiation dose management.
Impact of COVID-19 on the Radiation Dose Management Market
Using imaging equipment on COVID-19 patients posed a serious hazard for other patients and healthcare providers. Thus, many countries postponed non-urgent diagnostic imaging surgeries, which reduced the reliance on medical imaging. Additionally, during the pandemic, the U.S. Centers for Disease Control and Prevention and the American College of Radiology did not recommend the routine use of chest radiographs or CT scans alone to diagnose COVID-19. Furthermore, the American College of Radiology issued guidance that CTs and x-rays should not be used as a first-line tool to diagnose or screen for COVID-19. This temporarily impacted the market negatively.
The radiation dose management market is segmented by Offering (Solutions, Services), Modality (Computed Tomography, Fluoroscopy & Interventional Imaging, Nuclear Medicine, Radiography & Mammography), Application (Oncology, Cardiology, Orthopedics, Neurology, Other Applications), End User (Ambulatory Care Settings, Hospitals, Other End Users). The study also evaluates industry competitors and analyzes their market shares at the regional and country levels.
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Based on offering, in 2022, the solutions segment is expected to account for the largest share of the market. The increase in the use of medical imaging owing to the rise in the prevalence of chronic diseases and the presence of regulations for exposure to ionizing radiation are the factors contributing to the largest share of the market.
Based on modality, in 2022, the computed tomography segment is expected to account for the largest share of the market. Increased computed tomography examinations and a surge in the awareness of radiation dose exposure are contributing to the large market share of this segment.
Based on application, in 2022, the oncology segment is expected to account for the largest share of the market. The large market share of this segment is attributed to the increasing burden of cancer and increased usage of imaging modalities in oncology.
Based on end user, in 2022, the hospitals segment is expected to account for the largest share of the market. A high patient population, a surge in chronic diseases, awareness about early diagnosis, the preference for non-invasive medical procedures, and technological advancements in imaging modalities are contributing to the large market share of this segment.
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Based on geography, in 2022, North America is expected to account for the largest share of the radiation dose management market. The large share of this market is attributed to factors such as advanced healthcare infrastructure, technological advancements, high awareness related to radiation exposure, and strict accreditation & regulatory requirements related to radiation exposure. According to American Cancer Society Recommendations for the Early Detection of Cancer, women between the age of 40-54 should undergo regular screening mammography starting at age 45. Additionally, U.S. healthcare expenditure increased from USD 2,658 Billion in 2009 to USD 3,795 Billion in 2019. These factors have contributed significantly to the large market share of the region.
The report also includes an extensive assessment of the key strategic developments of leading market participants in the industry over the past years (2020–2022). In the last couple of years, the global radiation dose management market has witnessed strategic developments such as product launches and enhancements.
Some of the key players operating in the global radiation dose management market are Bayer AG (Germany), Siemens Healthineers GmbH (Germany), Bracco Imaging S.p.A. (Italy), FUJIFILM Holdings Corporation (Japan), GE Healthcare (U.S.), Medsquare (France), Novarad Corporation (U.S.), PACSHealth, LLC. (U.S.), Koninklijke Philips N.V. (Netherlands), Qaelum N.V. (Belgium), Sectra AB (Sweden), Agfa Healthcare (Belgium), Canon Inc. (Japan), Guerbet (France), Medic Vision (U.S.), and Volpara Health Limited (U.S.).
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Scope of the Report:
Radiation Dose Management Market, by Offering
- Solutions
- Services
Radiation Dose Management Market, by Modality
- Computed Tomography
- Fluoroscopy and Interventional Imaging
- Nuclear Medicine
- Radiography and Mammography
Radiation Dose Management Market, by Application
- Oncology
- Cardiology
- Orthopedics
- Neurology
- Other Applications
Note: Other applications include dermatology and ophthalmology
Radiation Dose Management Market, by End User
- Ambulatory Care Settings
- Hospitals
- Other End Users
Note: Other end users include diagnostic centers, research institutions, and academic centers.
Radiation Dose Management Market, by Geography
- North America
- U.S.
- Canada
- Europe
- Germany
- U.K.
- France
- Italy
- Spain
- Rest of Europe (RoE)
- Asia-Pacific (APAC)
- China
- Japan
- India
- Rest of APAC (RoAPAC)
- Latin America
- Brazil
- Mexico
- Rest of Latin America (RoLATAM)
- Middle East & Africa
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