With the growing worldwide awareness surrounding patient safety and the harmful and biological effects of overexposure to ionizing medical radiation, medical imaging companies are focused on employing dose-lowering technologies in imaging equipment.
FREMONT, Calif., Dec. 16, 2022 /PRNewswire/ -- BIS Research, the global leader in providing market intelligence on deep technologies, has released its latest study titled Radiation Dose Management Market - A Global and Regional Analysis.
According to this study, the global radiation dose management market was valued at $212.8 million in 2021 and is projected to reach $586.7 million by 2032.
The following factors are responsible for the increase in demand for radiation dose management:
- Increasing installed bases of radiology equipment and the number of scans leads to a higher risk of radiation exposure, thus creating demand for dose management solutions.
- The increasing prevalence of cardiovascular diseases and growing occupational hazards in cath labs lead to growing concern surrounding the effects of radiation exposure.
- Growing focus on interventional radiology (IR) is expected to increase demand for IR imaging systems and lead to a higher risk of radiation exposure.
- Increasing concern related to radiation overexposure is leading to higher adoption of dose management solutions.
- Growing awareness and initiatives for radiation dose management are expected to push the adoption of dose management software.
- Advancements in dose optimization and benchmarking in various countries will encourage healthcare institutions to adopt dose management software.
The detailed study is a compilation of 32 market data tables and 249 figures spread through 329 pages.
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Analyst's Take on the Market Projection
According to Swati Sood, Principal Analyst, BIS Research, "The COVID-19 pandemic placed high importance on automating tasks requiring manual intervention. While conventionally, data transfer and dose recording were done manually, the advent of advanced dose management software (DMS) has enabled automated data transfer from imaging systems into the DMS for automated dose recording. This helps eliminate human error and reduces the need for human intervention, which was a concept that gained momentum as a result of the COVID-19 pandemic."
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Existing Competitive Landscape
The companies that are profiled have been selected based on input gathered from primary experts and analyzing company coverage, product portfolio, and market penetration. Some of the established names in the market are Agfa-Gevaert Group, Bracco, Bayer AG, Canon Inc., FUJIFILM Holdings Corporation, Guerbet, General Electric Company, Imalogix, Infinitt Healthcare Co., Ltd., Koninklijke Philips N.V., LANDAUER, Medic Vision Imaging Solutions Ltd., Medsquare, MyXrayDose Ltd., Novarad Corporation, PACSHealth, LLC, Qaelum NV, Sectra AB, SST Group Inc., Siemens Healthineers AG, and Virtual Phantoms Inc..
Industry Developments in the Last Few Years
- In December 2020, Bayer AG launched Radimetrics v3.0, the latest evolution of its enterprise dose management utility.
- In December 2020, FUJIFILM Holdings Corporation launched the unique SYNAPSE Dose 2.0 to provide a comprehensive system for managing patient radiation exposure across several imaging modalities.
- In January 2020, Agfa HealthCare collaborated with Maasstad Hospital in the Netherlands to support advancements in the consistency and optimization of radiation doses.
- In April 2019, Qaelum NV signed an agreement with TOYO Corporation to distribute its dose monitoring solution, DOSE, in Japan.
- In January 2019, SST Group, Inc. partnered with Intermountain Healthcare to implement a software platform for the radiation dose monitor (RDM). The software platform permits medical professionals to manage, examine, and optimize the dose delivered to a patient during interventional procedures, medical imaging examinations, and image-guided surgery.
CT Scanners to Hold the Largest Share of the Radiation Dose Management Market
Most market players in the global radiation management market offer vendor-neutral and multi-modality software solutions. Further, most software solutions are compatible with modalities such as CT, X-Ray, angiography, mammography systems, and nuclear imaging systems.
According to the study from BIS Research, while most dose management software solutions are compatible with multiple modalities, CT scanners hold the largest share currently owing to their easy availability, lower imaging cost, and quick diagnosis, thus leading to higher adoption of CT scanners.
According to the United Nations Scientific Committee on the Effects of Atomic Radiation (UNSCEAR) annual report 2020/2021, during the period 2009-2018, while CT roughly accounted for only 9.60% of the examinations conducted using these modalities, its contribution to the effective dose received was significantly high at nearly 62.00%.
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About BIS Research:
BIS Research is a global B2B market intelligence and advisory firm focusing on deep technology and related emerging trends which can disrupt the market dynamics in the near future. We publish more than 200 market intelligence studies annually that focus on several deep technology verticals.
Our strategic market analysis emphasizes on market estimations, technology analysis, emerging high-growth applications, deeply segmented granular country-level market data, and other important market parameters useful in the strategic decision-making for senior management.
BIS Research offers syndicate as well as custom studies and expert consultations to firms, providing them with specific and actionable insights on novel technology markets, business models, and competitive landscapes.
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