Radiation Dose Monitoring Market To Be Valued Close To $3.9 Billion By 2025

The worldwide radiation dose monitoring market is expected to reach around USD 3.9 billion by 2025. It was estimated at USD 1.8 billion in 2015. The market is driven by popularity of automated dose monitoring systems that help track individual doses of radiation given to patients. The industry is anticipated to grow at an 8.2% CAGR from 2014 to 2025 (forecast period).

Medical imaging platforms such as computed tomography (CT) and X-ray play a vital role in determining overall demand. A rapidly growing aging populace and high incidence of chronic maladies can positively impact the industry in the years to come. Rising awareness among people about radiation and its potential side-effects could create lucrative opportunities for further industry progress.

Most companies focus greatly on technological developments and safety. Many vendors are engaged in developing technologies that help reduce radiation levels while producing high-quality images. These technologies mainly refer to software that can be integrated with imaging devices. As regards safety, the use of flat shields in radiation therapy in males can protect the testes from the ill effects of radiation. This may also be instrumental in reducing the dosage of radiation received by the patient.

In-depth research report on global radiation dose monitoring market - http://www.grandviewresearch.com/industry-analysis/radiation-dose-monitoring-market

The global radiation dose monitoring market is segmented as per components, applications, products, and regions. On the basis of components, the industry is bifurcated into service and software. The latter led the market in 2015 with high revenue shares. Easy integration of the software into hospital architecture can increase the efficiency of existing medical systems. This can result in better patient care & safety.

The services segment led the industry in terms of revenue in 2015. Awareness regarding the adverse impact of radiation emissions has led to strict healthcare mandates that call for close scrutiny of medical ionization emissions. This has also created demand for specialists for operating these devices. Consulting, education & training, and implementation & integration services are included within this segment.

Fluoroscopy & interventional imaging, angiography, radiography, mammography, and others are key market applications. Radiography was the largest segment in 2015. It is anticipated to register a high growth rate on account of  growing need for cancer diagnosis and its prevalence among the geriatric population. Angiography and mammography are segments that can expand considerably during the forecast period. Rising cases of heart attacks and breast cancer is a key factor that drives demand across these segments. 

On the basis of products, the industry is divided into area process monitors, dosimeters, and others. Dosimeters monitor dose levels given to patients using appropriate software. This information enables doctors to provide quality healthcare to patients. Product demand was considerably high in 2015. Area process monitors detect radiation levels and give out sound alerts when the permitted levels of radiation are crossed. In 2015, area process monitors held the second highest share in the overall industry after dosimeters.

Geographically, the industry is split into Latin America, North America, Middle East & Africa (MEA), Asia Pacific (APAC), and Europe. North America was largest market in 2015, followed by Europe. The region is propelled by strict regulatory norms regarding monitoring & safety of radiation doses. The APAC market can grow significantly on account of improved healthcare infrastructure, rapid urbanization, and steady economic development.

Notable players in the overall industry are Thermo Fisher Scientific, Inc.; Bayer AG; GE Healthcare; and Sectra. These industry participants invest hugely in research & development to create products that satisfy the laid down safety standards. Sectra recently developed DoseTrack, its web-based product that monitors radiation levels in patients. It records data in an excel sheet and gives alerts when radiation levels exceed their limit.

Source: Radiation Dose Monitoring Market Analysis & Segment Forecast Report, 2024

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