Vancouver, British Columbia, May 18, 2021 (GLOBE NEWSWIRE) -- The global radiation dose management market size is expected to reach USD 505.3 million in 2027 and register a CAGR of 12.6% over the forecast period, according to the latest report by Emergen Research. Rapid developments in healthcare infrastructure and facilities driven increasing deployment of imaging devices as some key factors global radiation dose management market revenue growth. Rising focus on implementation of uniform standards for radiation exposure is another factor driving market growth. For example, the organization of the Heart Rhythm Society, the American College of Cardiology, the North American Society for Cardiovascular Imaging, and other organizations released a consensus paper on the practical usage of radiation when carrying out cardiovascular imaging in 2018.
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Radiation dose is used to monitor and measure the number of prescriptions needed during treatment such that high radiation dose can be avoided on patients. Burns and radioactive exposure and over-dose of radiation is high risk. Radiation dose management plays a crucial role in reducing exposure to damaging doses of radiation during imaging procedures. However, shortage of well-equipped healthcare facilities in some developing countries and high installation costs of equipment are some key factors expected to negatively impact growth of the global radiation dose management market to some extent during the forecast period.
Fields wherein diagnostic imaging is widely used are radiography, angiography, mammography, fluoroscopy, and interventional imaging, among others. Various suppliers of diagnostic imaging equipment are focusing on integrating radiation exposure control devices into these imaging applications. X-ray and computed tomography technologies are mor preferred to release a significant volume of radiation compared with other imaging methods.
North America revenue is expected to register comparatively higher CAGR in the global radiation dose management market due to increasing prevalence of radiation-associated diseases in countries in the region. According to details released in the American Heart Association Journal (AHAJ) in 2018, patient incidence of cancer decreases following the first 10 radiation exposures correlated with computed tomography angiography procedures. Asia Pacific market is expected to register comparatively slow growth due to higher device deployment costs and lack of uniform standards in countries in the region. Advancements in technologies and improving healthcare infrastructure in developing countries is projected to open up favorable opportunities for revenue growth going ahead.
Some Key Highlights From the Report
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- Among the component segments, the service segment accounted for a substantially large revenue share in 2019 and is expected to register a CAGR of 12.9% over the forecast period. This can be attributed to increasing patient understanding regarding harmful effects of diagnostic imaging pollution and rising focus among healthcare facilities to scrutinize quality control of diagnostic ionization pollution.
- Among the product segments, the area process monitors segment is expected to register a revenue CAGR of 7.9% during the forecast period, attributable to its usage in control of ionization pollution exposure, and such devices support activities with high accuracy and effectiveness of radiation monitoring and warnings where a violation of permissible radiation standards arises.
- The radiography segment among the application segments is a major revenue contributor to the global radiation dose management market. The radiography segment accounted for around 31.3% revenue share in North America in 2019 due to increasing use in cancer diagnosis, which is a significant healthcare burden, and its increasing prevalence owing to rapidly growing global geriatric population.
- North America dominated other regional markets in the global radiation dose management in 2019. This can be attributed to risks of exposure to radiation from diagnostic imaging and existence of legal criteria regarding usage of ionizing pollutants. North America accounted for approximately 35.7% revenue share in the market, followed by Asia Pacific at 30.9% in 2019.
- Major companies include Thermo Fisher Scientific Inc., Philips Healthcare, Landauer Inc., GE Healthcare, Medicvision, Bayer AG, Toshiba MSC, Sectra, Seimens Healthcare Private Limited, and Infinitt Healthcare Co. Ltd.
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For the purpose of this report, Emergen Research has segmented into the global radiation dose management market based on the component, product, application, and region:
- Component Outlook (Revenue, USD Million; 2017-2027)
- Software
- Service
- Product Outlook (Revenue, USD Million; 2017-2027)
- Dosimeters
- Area Process Monitors
- Others
- Application Outlook (Revenue, USD Million; 2017-2027)
- Radiography
- Angiography
- Mammography
- Fluoroscopy & Interventional Imaging
- Others
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- Regional Outlook (Revenue, USD Billion; 2018–2028)
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- France
- U.K.
- BENELUX
- Italy
- Spain
- Rest of Europe
- Asia Pacific
- China
- Japan
- South Korea
- India
- Rest of APAC
- Latin America
- Brazil
- Rest of LATAM
- Middle East & Africa
- Saudi Arabia
- UAE
- South Africa
- Rest of MEA
- North America
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