Radiation Dose Management Market Growing at a CAGR of 42.0% During 2017 to 2022 - ReportsnReports
PUNE, India, May 16, 2017 /PRNewswire/ --
Radiation Dose Management Market is estimated to grow at a CAGR of 42.0% from 2017 to 2022, to reach $931.3 million from $161.3 million. The growing adoption of EHR systems, increasing initiatives for HIEs, growing awareness on radiation safety are other factors driving the growth of radiation dose management market.
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The global radiation dose management market is estimated to grow at a CAGR of 42.0% from 2017 to 2022, to reach USD 931.3 million by 2022 from USD 161.3 million in 2017.The growing adoption of EHR systems, increasing initiatives for the implementation of health information exchanges (HIEs), growing awareness on radiation safety, increasing radiation exposure to patients, and increasing number of diagnostic imaging exams across the globe are other factors driving the growth of the radiation dose management market. However, the lack of in-house education and training on radiation dose management, lack of understanding amongst physicians and technologists towards dose optimization approaches, and low adoption of radiation dose management solutions in emerging countries are some of the factors restraining the growth of this market.
In this report, the radiation dose management market is segmented by products& services, modality, and end user. On the basis of products and services, the market is segmented into solutions and services. The solutions market is further sub divided into standalone solutions and integrated solutions. The services market is subdivided into implementation and integration services, support and maintenance services, consulting services, and education and training services. By modality, the market is divided into computed tomography, fluoroscopy and interventional imaging, radiography& mammography, and nuclear medicine. The market is further segmented by end users into hospitals, ambulatory care settings, and research institutes and academic medical centers.
Geographically, the global market is segmented into four major regions, namely, North America, Europe, Asia-Pacific, and the Rest of the World (RoW). In 2017, North America accounted for the largest share of the global radiation dose management market, followed by Europe, Asia-Pacific, and RoW. This is due to the presence of a large number of hospitals and health systems, changing regulations, increasing accreditation requirements, and the increasing need to curtail the soaring healthcare costs.
However, the market in Europe is expected to grow at the highest CAGR during the forecast period. Government initiatives in this region to increase patient safety and the need to improve overall efficiency in healthcare organizations are driving the growth of the European market. The EU directives regarding the use of ionizing radiation, which will be repealed from February 6, 2018, is a prime factor for the increasing adoption of radiation dose management solutions by healthcare providers in Europe, which in turn is driving the growth of this geographic segment during the next two years.
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Prominent players in the radiation dose management market are Bayer AG (Germany), GE Healthcare (U.S.), PACS Health LLC (U.S.), Philips Healthcare (Netherlands), Fujifilm Holdings Corporation (Japan), Novarad Corporation (U.S.), Siemens Healthineers (Germany), AGFA Healthcare (Belgium), Sectra AB (Sweden), QAELUM N.V. (Belgium), Bracco Imaging S.p.A. (Italy), and Medsquare (France).
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