Radiation Dose Management Market Revenue to Cross US$ 646.87 million by 2028 says, The Insight Partners

Radiation Dose Management Software Segment to Lead Global Radiation Dose Management Market during 2021–2028

NEW YORK, UNITED STATES, March 31, 2022 /EINPresswire.com/ -- According to The Insight Partners new research study on “Radiation Dose Management Market Forecast to 2028 – COVID-19 Impact and Global Analysis – by service/ software, medium, and end user,” the market is expected to grow from US$ 270.32 million in 2021 to US$ 646.87 million by 2028; it is estimated to grow at a CAGR of 13.3% during 2021–2028.

Based on medium, the radiation dose management market is segmented into computed tomography, radiation and mammography, fluoroscopy and mammography, and other medium. In 2021, the computed tomography segment held the largest share of the market. The segment is likely to maintain its dominance during the forecast period due to the increasing number of CT examinations worldwide and the rising awareness related to radiation dose exposure. Moreover, the same segment is expected to register the highest CAGR during the forecast period.

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FUJIFILM Holdings Corporation; Bayer AG; Bracco Imaging S.p.A; GE Healthcare; Koninklijke Philips N.V.; Medsquare; Novarad Corporation; QAELUM INC.; Sectra AB; and PACSHealth, LLC are among the leading companies operating in the radiation dose management market.

Based on service/software, the radiation dose management market is bifurcated into radiation dose management services and radiation dose management software. Based on medium, the market is segmented into computed tomography, radiation and mammography, fluroscopy and mammography, and other medium. Based on end user, the market is segmented into hospitals, research and medical institutes, and others. By geography, the radiation dose management market is segmented into North America (the US, Canada, and Mexico), Europe (France, Germany, the UK, Spain, Italy, and the Rest of Europe), Asia Pacific (China, India, Japan, Australia, South Korea, and the Rest of APAC), Middle East & Africa (Saudi Arabia, the UAE, South Africa, and the Rest of MEA), and South and Central America (Brazil, Argentina, and the Rest of SCAM).

Responses to the COVID-19 pandemic have varied between and within countries across Europe. Screenings for breast cancer screening was the hardest hit, however, screenings for non-critical diseases and elective radiology were also discontinued. Inpatient radiology examinations also declined as admissions declined. Hospitals are assigning beds to COVID-19 patients, and others have avoided hospitals as much as possible. There was a perceived workload increase in general x-ray and computed tomography imaging procedures in the Middle East & Africa region because they were the key modalities for the initial and follow-up investigations of COVID-19. Hence, the COVID 19 had somewhat negative impact on the radiation dose management market before the introduction of COVID-19 vaccine.

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Rapid advances in medical technology, device manufacturing, and imaging equipment have resulted in the refinement of original procedures with better techniques and an expansion of the indications for procedures. New techniques have been developed and some techniques are migrated to other imaging modalities. Due to the high imaging efficiency, more interventional radiological and nuclear medicine procedures are being performed worldwide. According to the Society of Nuclear Medicine, approximately 20 million nuclear medicine procedures are performed in the US each year. As reported by the World Nuclear Association, more than 10,000 hospitals worldwide use radioisotopes in medicine and 90% of radioisotope procedures are diagnostic. Market players such as Bayer Healthcare and Sectra Medical Systems offer dose management software specifically for RDM in interventional imaging and nuclear medicine. Therefore, the growing focus on the interventional radiology and nuclear medicine is providing opportunities for the growth of the market.

Below is the list of the growth strategies done by the players operating in the Radiation Dose Management market:

In Nov’21 - FUJIFILM Holdings Corporation showcased advancements to its Synapse Enterprise Imaging portfolio at the 2021 Radiological Society of North America (RSNA) conference. The advancements have helped the company to drive the cross-departmental collaboration, workflow efficiency and more-informed clinical decision making.

In Aug’21 - GE Healthcare announced the installation of its latest version of the DoseWatch contrast and radiation monitoring software by Affidea. They further announced, Affidea's centers in Hungary are utilizing version 3.2 of GE's DoseWatch software, along with a new business intelligence tool that permits enhanced monitoring of dosing.

In May’21 - Novarad Corporation has been honored with Best New Radiology Solution award in the fifth annual MedTech Breakthrough Awards program organized by MedTech Breakthrough for its COVID-19 AI Diagnostic Assistant. In partnership with Intel Corp. and leveraging Azure, Microsoft’s cloud computing service, Novarad provides free use of the Diagnostic Assistant for the detection of COVID-19 from CT scans.

In Dec’20 - Bayer AG announced the newest evolution of its enterprise dose management application, Radimetrics v3.0. Radimetrics 3.0 assist patient-care teams report, track, and manage radiation dose and contrast dose throughout the chain of care with enhanced functionality and features

In Apr’19 - QAELUM INC entered into a distribution agreement with Toyo Corp. for f Qaelum’s dose monitoring solution — Dose. The agreement permits Qaelum to officially expand into Japan, as well as adding a new product line to the healthcare division of Toyo. This strategic alliance contributes support of dose management to hospitals in Japan, permitting them to better optimize their radiation dose and as such improve patient safety.

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Sameer Joshi
The Insight Partners
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