Wednesday 15 April 2015, Amsterdam
According to a new market research report, now available on ASDReports, “Radiation Dose Management Market by Product (Dose Tracking, Monitoring, and Analytics Software, Consulting Services), by Application (Computed Tomography, Angiography, Fluoroscopy), by End User (Hospitals, Diagnostic Centers) - Global Forecasts to 2020”, the Global Radiation Dose Management Market is expected to reach $350 million by 2020.
The global market is expected to grow at a high rate in the next four years. This is primarily attributed to the need for radiation dose optimization while performing diagnostic imaging procedures owing to the increasing radiation exposure risks. Moreover, the rising need to comply with regulations which mandate dose monitoring, tracking, and maintenance of patient dose records; legislative and accreditation requirements to avoid penalties; and the need to increase patient safety and improve the quality of healthcare. Government initiatives and funding to bring e-Health to the healthcare sector across the globe has driven the adoption of EMR systems and other healthcare IT systems. All these systems also require the deployment of radiation dose management to complete the patient medical records and to streamline the workflow. Moreover, factors such as the need to reduce radiation dose levels in interventional imaging and nuclear medicine techniques (as these techniques use high dose levels) and to reduce medical errors owing to manual entry are expected to drive this market in the coming years. Other factors which are propelling the growth of this market include increasing number of multispecialty hospitals, need for quality improvement in healthcare, and improved dose optimization through computerized patient dose information and standardized protocols. However, lack of funding in many regions across the world and lack of standardized protocols in this market owing to its nascent stage are posing a great challenge for this market.
In this report, the market is segmented by product, application, end user, and region. The report also discusses the key market drivers and restraints and the opportunities and trends in this market and its submarkets. The market is expected to grow at a very high CAGR from 2015 to 2020.
In 2014, North America was the major market, followed by Europe and Asia-Pacific. An alarming increase in patient radiation exposure, highly developed healthcare IT infrastructure, a number of healthcare reforms, advent of new technologies, and favorable regulatory compliance in the North American and European region has led to the major contribution of these regions to the global market.
Prominent players in the radiation dose management market are Bayer AG (Germany), GE Healthcare (U.K.), PACSHealth LLC (U.S.), Philips N.V. (Netherlands), Fujifilm Holdings Corporation (Japan), Novarad Corporation (U.S.), McKesson Corporation (U.S.), Siemens Healthcare (Germany), AGFA Healthcare (Belgium), Sectra Medical Systems (Sweden), Toshiba Medical Systems Corporation (Japan), and McKesson Corporation (U.S.).
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