ALBANY, New York, February 21, 2018 /PRNewswire/ --
According to the report, the global radiation dose managementmarket was estimated at US$1,432.0 mn in 2016 and is expected to expand at an impressive CAGR of 9.1% from 2017 to 2025, rising to an estimated value of US$3,066.1 mn in 2025.
Increased Prevalence of Chronic Conditions Requiring Radiation Therapies to Drive Market
Radiation therapy is one of the important modes of remedy employed for a diverse varieties of disease such as cancer. However, radiation treatment is often associated with several side effects caused due to the ionization of healthy cells in the process of targeting diseased cells. To mitigate these side effects, monitoring of the radiation dose, which refers to the quantity of radiation absorbed by the patient, is of high importance. An increasing awareness regarding the patient safety is compelling healthcare practitioners to employ effective measures for radiation dose management.
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The vast rise in the number of chronic diseases such as cardiovascular conditions, a variety of cancers, rising safety concerns, improving quality of patient care, and growing number of diagnostics screening test are expected to emerge as the key factors driving the global market for radiation dose management. The market is also expected to be positively influenced owing to the massive rise in government initiatives aimed at the improvement of healthcare infrastructure and the increased inclusion of advanced digital technologies in healthcare systems.
North America to Remain Most Promising Regional Market
Of the key applications of the global radiation dose management market, the oncology segment held the dominant share in 2016. The segment is also expected to continue to expand at a promising pace over the forecast period as well, holding a substantial share of the overall market over the report's forecast period, owing chiefly to the increasing number of cancer cases globally.
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Geographically, the market in North America accounted for a dominant share in the global market in 2016 and continues to remain a regional market with highly promising growth opportunities. The promising expansion of the regional market is attributed to the well-established healthcare sector, presence of some of the world's leading medical device companies, and strong reimbursement policies.
Amid the rising intensity of competition in established regions and a vast set of untapped opportunities in emerging markets as government bodies put more emphasis on the improvement of healthcare infrastructure, emerging markets such as Asia Pacific and Latin America could prove to be the most promising investments for companies in the global radiation dose management market. Companies in the market will benefit from an increased focus on the improvement of efficiency of value chains, from marketing to export in new regional markets and logistics to distribution, observes Transparency Market Research in a recent report.
Some of the leading companies in the market are INFINITT Healthcare Co. Ltd., Afga-Gevaert N.V., Sectra AB, PACSHealth, LLC, GE Healthcare, Bayer Healthcare AG, Thermo Fisher Scientific, Koninklijke Philips N.V., Fujifilm Holdings Corporation, and QAELUM NV.
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This analysis of the global radiation dose management market is based on a recent market research report by Transparency Market Research, titled "Radiation Dose Management Market (Product and Services - Software (Integrated Solution and Standalone Solution) and Services; Modality - Computed tomography, Radiography and Mammography, Fluoroscopy and Interventional Imaging, and Nuclear Medicine Scans; Application - Oncology, Cardiology, and Orthopedic; End-user - Hospitals, Ambulatory Care Setting, and Research Organization) - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2017-2025."
For the study, the market has been segmented as follows:
Global Radiation Dose Management Market, by Product and Services
Global Radiation Dose Management Market, by Modality
Global Radiation Dose Management Market, by Application
Global Radiation Dose Management, by End-user
Global Radiation Dose Management Market, by Region
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