(PharmaNewsWire.Com, July 31, 2021 ) The study involved four major activities to estimate the current size of the radiation dose management market. Exhaustive secondary research was done to collect information on the market and its different subsegments. The next step was to validate these findings, assumptions, and sizing with industry experts across the value chain through primary research.
Growth of the market is mainly driven by the increasing use of medical imaging modalities due to the rising incidence of chronic diseases, increasing concerns over radiation dose exposure, growth in the installed base of radiology equipment, and growing awareness on radiation dose management.
[226 Pages Report] The global radiation dose management market size is projected to reach USD 423 million by 2025 from USD 220.22 million in 2020, at a CAGR of 13.9% during the forecast period.
The major factors that are expected to be driving the pharmacy automation market are the growing need to minimize medication errors, rapid decentralization of pharmacies, rising geriatric population and rising labor cost. On the other hand, reluctance among the healthcare organizations to adopt pharmacy automation systems is expected to restrain the overall market growth to a certain extent during the forecast period. The objective of the report is to define, describe, and forecast the pharmacy automation market size based on product, end user, and region.
Market Dynamics
1. Increasing use of medical imaging modalities due to the growing burden of chronic diseases
2. Growing concerns over radiation exposure
3. Growing installation base of radiology equipment
4. Growing awareness about radiation dose management
COVID -19 IMPACT ON THE RADIATION DOSE MANAGEMENT MARKET
Several countries across the globe have seen non-urgent diagnostic imaging surgeries being postponed due to the pandemic. These procedures utilize additional resources and increase the risk of complications; depending on the procedure, they also increase the chance of needing equipment, resources, or materials such as hospital beds and PPE.
Based on product & service, the radiation dose management market is segmented into radiation dose management solutions and radiation dose management services. The radiation dose management solutions segment is projected to witness the highest growth during the forecast period. The increasing adoption of radiation dose management solutions by healthcare providers owing to the growing regulations regarding ionizing radiation across the globe is the major factor supporting the growth of this segment.
The geographical regions mapped in the report are:
1. North America
2. Europe
3. Asia-Pacific
4. Rest of the World
Based on the region, the radiation dose management market is segmented into North America, Europe, Asia Pacific, and the Rest of the World (RoW). In 2019, North America accounted for the largest share of the radiation dose management market. The large share of North America can be attributed to factors such as the stringent legislative and accreditation requirements regarding the reporting and optimization of radiation doses, high adoption of HCIT technologies, and the presence of stringent regulatory requirements regarding patient safety.
Some key players mentioned in the research report are:
Bayer AG (Germany), GE Healthcare (US), PACSHealth, LLC (US), Sectra Medical Systems (Sweden), Philips Healthcare (Netherlands), Fujifilm Holdings Corporation (Japan), Novarad Corporation (US), Siemens Healthineers (Germany), Agfa HealthCare (Belgium), Canon (Japan), and Qaelum N.V. (Belgium)are the major players in the global radiation dose management market.
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