Radiation Dose Management Solution Market to Grow at a CAGR of 11.96%: by Solution (services and products) and Geography (North America, Europe, Asia, and ROW) - Global Forecast to 2025 | Technavio
NEW YORK, Dec. 9, 2021 /PRNewswire/ -- The Radiation Dose Management Solution Market research report has been added to Technavio's catalog. The market is anticipated to witness healthy growth at a CAGR of 11.96%. This growth can be attributed to the increasing adoption of medical imaging equipment. However, high cost of healthcare technology solutions can hamper the growth of the market during the next few years.
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One of the key factors driving growth in the radiation dose management solution market is the increasing adoption of medical imaging equipment. The conduction of medical imaging examinations is steadily increasing owing to the rising prevalence of various diseases. Globally, ionizing radiation is used for imaging in more than 70 million diagnostic radiology procedures and 700,000 diagnostic NM procedures every week. There has also been a significant increase in the number of interventional radiological procedures. The increasing demand for medical imaging examinations has led to an increase in the demand for various medical imaging equipment. The growing trend of replacing legacy medical imaging systems with technologically advanced systems and the increasing focus on early diagnosis and prevention also drive the adoption of medical imaging equipment, which, in turn, will increase the demand for radiation dose management solutions.
Read the 120-page report with TOC on "Radiation Dose Management Solution Market Analysis Report by Geography (North America, Europe, Asia, and ROW) and Solution (Services and Products), and the Segment Forecasts,2021-2025": https://www.technavio.com/report/report/radiation-dose-management-market-industry-analysis
The high cost of healthcare technology solutions will be a major challenge for the radiation dose management solution market during the forecast period. Depending on the study volume, the cost of a radiation dose monitoring software ranges between $15,000 and $20,000 per hospital per year. Vendors purchasing software such as DoseWise, offered by Koninklijke Philips, also need to incur costs on server fees. End-users also need to spend on additional staff to manage information governance and software compatibility arrangements for proper installation and use of these technologies. A significant portion of small- and mid-sized hospitals may not have adequate patient pools to justify the budgeting of radiation dose management software financially. This limits the growth of the global radiation dose management solution market.
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Major Five Radiation Dose Management Solution Companies:
- Bayer AG
- Bracco Spa
- Canon Inc.
- Fortive Corp.
- FUJIFILM Holdings Corp.
37% of the market's growth will originate from North America during the forecast period. The US and Canada are the key markets for radiation dose management solutions in North America. However, the market growth rate in North America will be slower than the growth of the market in other regions. The advanced healthcare infrastructure in the region, the presence of established vendors, and the increased adoption of technologically advanced radiation dose management solutions will facilitate the radiation dose management solution market growth in North America over the forecast period.
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Radiation Dose Management Solution Market Geography Outlook (Revenue, USD mn, 2020-2025)
- North America - size and forecast 2020-2025
- Europe - size and forecast 2020-2025
- Asia - size and forecast 2020-2025
- ROW - size and forecast 2020-2025
Radiation Dose Management Solution Market Solution Outlook (Revenue, USD mn, 2020-2025)
- Services - size and forecast 2020-2025
- Products - size and forecast 2020-2025
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Radiation Dose Management Solution Market Scope | |
Report Coverage | Details |
Page number | 120 |
Base year | 2020 |
Forecast period | 2021-2025 |
Growth momentum & CAGR | Accelerate at a CAGR of 11.96% |
Market growth 2021-2025 | $ 166.06 million |
Market structure | Fragmented |
YoY growth (%) | 10.90 |
Regional analysis | North America, Europe, Asia, and ROW |
Performing market contribution | North America at 37% |
Key consumer countries | US, China, Germany, Japan, and Canada |
Competitive landscape | Leading companies, competitive strategies, consumer engagement scope |
Companies profiled | Bayer AG, Bracco Spa, Canon Inc., Fortive Corp., FUJIFILM Holdings Corp., General Electric Co., Guerbet, Koninklijke Philips NV, PACSHealth LLC, and Sectra AB |
Market Dynamics | Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and future consumer dynamics, market condition analysis for the forecast period |
Customization purview | If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
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