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Increasing Demand for Improved Health Care Services Drives the Global Radiation Dose Management Market

08-14-2017 02:58 PM CET | Health & Medicine

Press release from: Transparency Market Research

Increasing Demand for Improved Health Care Services Drives

Radiation can be defined as the emission of electromagnetic waves, especially the high-energy particles which cause ionization. Radiation therapy is one of the major modes of treatment employed for various forms of cancer. However, the radiation therapy is associated with various side-effects. Management and monitoring of the radiation dose is of prime importance to minimize the side-effects. The amount of radiation energy absorbed by a human body is known as radiation dose, which is measured in various forms such as effective dose, equivalent dose, and absorbed dose.

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The primary growth drivers of the radiation dose management market include the increasing demand for improved health care services, growing awareness about patient safety related to the recommended radiation dosage to be administered, and rising risk of chronic diseases. In addition, factors such as increasing government initiatives to drive the implementation of health information exchanges (HIEs), rising adoption of electronic health records (EHRs), and growing number of diagnostic screening tests propel the market growth. However, lack of skilled technicians and physicians and their ignorance about the risks associated with high exposure to radiation due to lack of training and in-house education, inadequate funding, and absence of standard protocols for radiation doses might hamper the market growth during the forecast period.

The global radiation dose management market can be segmented on the basis of product and service, modality, end-user, and geography. On the basis of products and services, the market can be segmented into integrated solutions, standalone solutions, and consulting services. The standalone solutions and integrated solutions segments accounted for significant market shares in 2016. The growth of these segments can be attributed to the increasing awareness about patient dose information and focus on patient safety. The radiation dose management solutions aid in achieving the compliance by integration of radiation dose monitoring, tracking, and analytics software with other systems to monitor and track patient safety and patient dose information.

On the basis of modality, the market can be segmented into computed tomography, radiography, fluoroscopy and interventional imaging, mammography, and others. The computed tomography segment is anticipated to be a major revenue generating segment owing to the rising number of CT examinations and changing regulations related to the CT dose management. In terms of end-user, the market can be segmented into hospitals, ambulatory care settings, research organizations, and others. The hospitals segment is estimated to dominate the market during the forecast period.

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Geographically, the global radiation dose management market can be distributed over five regions, including North America, Latin America, Europe, Asia Pacific, and Middle East & Africa. North America was a major revenue generating market in 2016. This growth is attributed to the well-developed health care infrastructure, increase in number of health care reforms, favorable regulatory compliance, and growth in adoption of radiation dose management solutions. It is closely trailed by Europe. Asia Pacific is anticipated to expand at a high CAGR during the forecast period. India and China are expected to be the key countries driving the growth of the Asia Pacific market. The major driving factors for this growth include growing patient pool in these countries, rising investments to enhance the adoption of health care IT technologies, increasing health care expenditure, and growing awareness among the population. In addition, growing medical tourism is likely to contribute to the growth of the market.

The leading players operating in the market include Bayer AG, Mckesson Corporation, GE Healthcare, Fujifilm Holdings Corporation, Philips Healthcare, Toshiba Medical Systems Corporation, AGFA Healthcare, PACSHealth, LLC, QAELUM N.V., Bracco Imaging S.p.A., Novarad Corporation, Siemens Healthineers, Sectra AB, and Medsquare.

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Transparency Market Research (TMR) is a global market intelligence company providing business information reports and services. The company’s exclusive blend of quantitative forecasting and trend analysis provides forward-looking insight for thousands of decision makers. TMR’s experienced team of analysts, researchers, and consultants use proprietary data sources and various tools and techniques to gather and analyze information. Our business offerings represent the latest and the most reliable information indispensable for businesses to sustain a competitive edge.

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