What is the present valuation and projected CAGR of the radiation dose management market?
The radiation dose management market size has grown rapidly in recent years. It will grow from $0.85 billion in 2024 to $1.02 billion in 2025 at a compound annual growth rate (CAGR) of 19.7%. The growth in the historic period can be attributed to increased awareness of radiation risks, regulatory requirements and standards, an increase in diagnostic imaging procedures, healthcare provider initiatives, and rising advancements in imaging technologies.
The radiation dose management market size is expected to see rapid growth in the next few years. It will grow to $2.06 billion in 2029 at a compound annual growth rate (CAGR) of 19.3%. The growth in the forecast period can be attributed to the expansion of cloud-based solutions, rising awareness of patient safety, rising incorporation of artificial intelligence (AI), increasing number of diagnostic centers, and growing integration of advanced imaging modalities. Major trends in the forecast period include technological advancements, product innovations, advanced radiation dose-managing devices, integration of artificial intelligence (AI), and integration of the Internet of Things (IoT).
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What are the key drivers behind the rapid expansion of the radiation dose management market?
The increasing number of cancer cases is expected to propel the growth of the radiation dose management market going forward. Cancer is a group of diseases characterized by the uncontrolled growth and spread of abnormal cells in the body, which can form a mass or lump called a tumor. The increase in cancer cases is due to several complex and interrelated causes, such as family history, lifestyle decisions, genetic factors, environmental exposures, and the aging population. Radiation dose management solutions are used in cancer care to get an accurate diagnosis and effective treatment to minimize the risks associated with radiation exposure. For instance, in February 2024, according to the World Health Organization (WHO), a Switzerland-based intergovernmental organization, it is anticipated that there is expected to be over 35 million new cases of cancer in 2050, a 77% increase over the projected 20 million cases in 2022. Therefore, the increasing number of cancer cases is driving the growth of the radiation dose management market.
What is the segmentation for the radiation dose management market?
The radiation dose management market covered in this report is segmented –
1) By Component: Software, Services
2) By Modality: Computed Tomography, Fluoroscopy And Interventional Imaging, Radiography And Mammography, Nuclear Medicine
3) By Application: Oncology, Cardiology, Orthopedic Applications, Other Applications
4) By End-User: Hospitals, Ambulatory Care Setting, Other End-Users
Subsegments:
1) By Software: Dose Monitoring Software, Dose Calculation Software, Reporting And Analytics Software
2) By Services: Consulting Services, Implementation And Integration Services, Training And Support Services
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Who are the most influential companies in the radiation dose management market?
Major companies operating in the radiation dose management market are INFINITT Healthcare Co. Ltd., Bayer AG, Thermo Fisher Scientific Inc., Canon Inc., Siemens Healthcare, FUJIFILM Holdings Corporation, Philips Healthcare, GE Healthcare, Fortive Corporation, Mindray Medical International Limited, Sectra AB, Bracco Imaging S.P.A., Neusoft Medical Systems, United Imaging Healthcare, Agfa-Gevaert Group, Dedalus S.P.A, Guerbet, Mirion Technologies Inc., Landauer, Novarad Corporation, Volpara Health Limited, Medic Vision, PACSHealth LLC, Medsquare, Nanjing Perlove Medical Equipment Co. Ltd.
What are the most influential trends expected to drive the radiation dose management market forward?
Major companies operating in the radiation dose management market are developing innovative technologies, such as personal electronic dosimeters, to sustain their position in the market. Personal electronic dosimeters are small, portable devices that provide instant information regarding the type and dose of radiation exposure received during an operational period to responders. For instance, in March 2022, Tracerco, a UK-based company specializing in diagnostic and measurement solutions and providing scanning and radiation protection services, launched the PED2 range of dosimeters. The PED2 range of dosimeters is a next-generation personal electronic dosimeter with unique detection technology to improve radiological safety performance for customers. PED2 is supported by DoseVision2, a robust cloud-based radiation dosimetry management software platform that facilitates efficient dose record-keeping for compliance. It enables easy device configuration and management.
What are the major regional insights for the radiation dose management market, and which region holds the top position?
North America was the largest region in the radiation dose management market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the radiation dose management market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
What Does The Radiation Dose Management Market Report 2025 Offer?
The radiation dose management market research report from The Business Research Company offers global market size, growth rate, regional shares, competitor analysis, detailed segments, trends, and opportunities.
Radiation dose management refers to the systematic approach used to monitor, optimize, and control the amount of radiation exposure received by patients, healthcare providers, and other individuals during medical imaging procedures, such as X-rays, computed tomography (CT), fluoroscopy, and nuclear medicine scans. Radiation dose management aims to ensure that diagnostic images are acquired with the lowest possible radiation dose while maintaining image quality sufficient for accurate diagnosis.
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