Radiation Dose Management Market Size Worth US$ 646.87 million by 2028 Says, The Insight Partners
According to our 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. Factors driving the growth of the market are the growing concerns related to radiation exposure and rising cases of cancer demanding radiation therapy.
Radiation therapy is an essential branch of medical science. Various diseases like cancer, cardiovascular diseases, etc. are diagnosed and treated through electromagnetic waves. It is used extensively to treat different types of cancer. However, radiation therapy also has side effects. Therefore, monitoring the correct radiation dose is highly essential in any radiation-based medical procedure. The radiation dose is the amount of radiation thrown onto the patient. Radiation dose management comprises information on radiation dose recording software; real-time staff dose monitoring; regulatory compliance; and dose reduction technologies, such as interactive reconstruction software.
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.
Impact of COVID-19 Pandemic on Radiation Dose Management Market
The global economy was severely affected due to the COVID-19 cases in all the regions. The rising occurrence rate of coronavirus results had increased stress on the region's healthcare system. During the COVID-19 pandemic, outpatient appointments were avoided as far as possible. This increases the risk of infection for both the patient and the medical staff running the clinic. The COVID-19 pandemic is perplexing healthcare institutions in the region with unprecedented operational and clinical challenges. On March 11, 2020, the American College of Radiology (ACR) had recommended that CT should not be used for the purpose of screening or diagnosis of COVID-19 and that its use should be reserved for specific indications in hospitalized and symptomatic subjects. The COVID-19 pandemic had severely impacted radiology services across Europe. The Board of the European Cancer Organization paid particular attention to the increasing impact of COVID-19 on the treatment of cancer patients and the effects of the current situation on the functioning of European science, education of health professionals, and patient associations.
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.
Based on service/software, the radiation dose management market is segmented into radiation dose management services and radiation dose management software. The radiation dose management software segment held the largest share of the market in 2021 and is anticipated to register the highest CAGR in the market during the forecast period. The use of radiation dose management software can improve the collection, analysis, and reporting of radiation dose data compared to current manual or semi-automated methods. Radiation dose management software can also alert healthcare professionals to radiation exposure when DRLs are consistently exceeded. Some technologies can help facilitate the management of protocols, contrast agent and staff dose, and image quality.
Growing Focus on Interventional Radiology and Nuclear Medicine
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.
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