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The radiation dose management solution market share is expected to increase by USD 166.06 million from 2020 to 2025, and the market's growth momentum will accelerate at a CAGR of 11.96%.
This radiation dose management solution market research report provides valuable insights on the post COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers radiation dose management solution market segmentation by solution (services and products) and geography (North America, Europe, Asia, and ROW). The radiation dose management solution market report also offers information on several market vendors, including Bayer AG, Bracco Spa, Canon Inc., Fortive Corp., FUJIFILM Holdings Corp., General Electric Co., Guerbet, Koninklijke Philips NV, PACSHealth LLC, and Sectra AB among others.
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Based on our research output, there has been a neutral impact on the market growth during and post COVID-19 era. The increasing adoption of medical imaging equipment is notably driving the radiation dose management market growth, although factors such as the high cost of healthcare technology solutions may impede the market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the radiation dose management solution industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.
Key Radiation Dose Management Solution Market Driver
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
Key Radiation Dose Management Solution Market Challenge
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.
This radiation dose management solution market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2021-2025.
The report analyzes the market's competitive landscape and offers information on several market vendors, including:
This statistical study of the radiation dose management solution market encompasses successful business strategies deployed by the key vendors. The radiation dose management market is fragmented and the vendors are deploying growth strategies such as forming strategic partnerships to compete in the market.
To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.
The radiation dose management solution market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.
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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. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.
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The radiation dose management solution market share growth by the services segment will be significant during the forecast period. The services segment is expected to grow steadily. This is mainly attributed to the increasing adoption of radiation dose management solutions.
This report provides an accurate prediction of the contribution of all the segments to the growth of the radiation dose management market size and actionable market insights on post COVID-19 impact on each segment.
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 |
Key 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 recovery analysis 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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Executive Summary
Market Landscape
Market Sizing
Five Forces Analysis
Market Segmentation by Solution
Customer landscape
Geographic Landscape
Vendor Landscape
Vendor Analysis
Appendix
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