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Radiation Dose Management Market Report 2024 - Radiation Dose Management Market Size And Growth
Radiation Dose Management Market
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According to The Business Research Company's, The radiation dose management market size has grown rapidly in recent years. It will grow from $0.71 billion in 2023 to $0.85 billion in 2024 at a compound annual growth rate (CAGR) of 19.1%. 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 $1.73 billion in 2028 at a compound annual growth rate (CAGR) of 19.4%. 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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Market Drivers and Trends:
The increasing demand for precision medicine is expected to propel the growth of the optical genome mapping market going forward. Precision medicine is an approach to healthcare that customizes medical treatment and prevention strategies to individual characteristics such as genetic makeup, lifestyle, and environment. Precision medicine demand is driven by the rising prevalence of chronic diseases, advancements in genomic technologies, increasing investment and funding, and patient demand for personalized care. optical genome mapping enhances the capabilities of precision medicine by providing a detailed and accurate understanding of the genomic alterations associated with various diseases. For instance, in February 2024, according to the Personalized Medicine Coalition, a US-based non-profit organization, the FDA approved 16 novel personalized therapies for patients with rare diseases in 2023, compared to six in 2022. Therefore, the increasing demand for precision medicine is driving the growth of the optical genome mapping market.
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.
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Major Key Players of the Market:
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.
Radiation Dose Management Market 2024 Key Insights:
• The radiation dose management market size is expected to see rapid growth in the next few years. It will grow to $1.73 billion in 2028 at a compound annual growth rate (CAGR) of 19.4%.
• Increasing Cancer Incidences Propel Growth Of Radiation Dose Management Market
• Tracerco Launches Next-Generation Personal Electronic Dosimeters To Enhance Radiological Safety
• North America was the largest region in the radiation dose management market in 2023
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