The exposure to ionizing utilized in the medical imaging procedures has left patients with an augmented perils of cancer rather than alleviating namely menaces. This, as a result, has demanded the acceptance of the radiation dose monitoring systems around the globe. The requirement for the radiation dose monitoring is increasing across the globe in line with shifting laws in the industrialized nations, which demand recording of dosage along with growing public pressure from the victims and mass media. Hence, the global radiation dose monitoring market is predicted to reach the value of USD 3.76 Bn by 2023, increasing at a compound annual growth rate (CAGR) of 8.5% during the review duration of 2018-2023.
The effective rise in the awareness related to the radiography and their impending side effects, radiation dose monitoring market revelations the significant growth opportunities. Moreover, the growing patient size base affecting to augment in the chronic diseases, number of elderly populace, and a positive increase in the number of radiography studies are effective determinants of growth in the market.
According to the report analysis, ‘Global Radiation Dose Monitoring Market (2018-2023)’ states that in the global radiation dose monitoring market, there are numerous key players which positively performing more positively for leading the fastest market growth and registering the handsome value of market share around the globe throughout the short span of time while delivering the better consume satisfaction, providing effective services at a reasonable price and spreading the awareness related to the effective impactful services includes GE Healthcare, Philips Healthcare, Landauer, Sectra, Mirion Technologies, Inc., Fuji Electric, Ludlum, Canon Medical Systems Corporation, Medic Vision Imaging Solutions, Ltd., Novarad Corporation and several others.
Based on the device sector, the radiation dosimeters registered the market with a share of nearly 75% in 2017. It is predicted to enlarge at a higher CAGR as associated to area procedure monitor during the reviewed period. This is primarily owing to the growth in the number of radiological processes, increasing awareness among the public with relate to the radiation exposure, and the augment in the number of nuclear facilities across the globe.
Additionally, based on the type, because to the fostering requirement of the radiation dose monitors around the globe, the hardware and software market together dominated for more than 90% of the market share in 2017. Not only has this, the demand to train consumers and service delivers helped the service market increase at the highest rate during the reviewed period.
Although, based on the application, the effective increase in the radiology procedures throughout the globe and the augment in the government initiatives towards radiation dose measurement, permitted the radiography market to have the maximum market share of approximately 55% in 2017. This segment is also predicted to have the maximum growth rate in the given review period. In addition to that, tomography is anticipated to follow the radiography market in terms of growth rate.
Furthermore, with growing patient population base and increasing initiatives towards establishment of nuclear power plants, the Asia-Pacific region and Latin American markets are predicted to observe the highest growth rate in assessment to developed nations in the upcoming five years. Therefore, in the near years, it is anticipated that the market of global radiation dose monitoring will increase around the globe more significantly over the coming years.
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Ankur Gupta, Head Marketing & Communications