Global Radiation Dose Monitoring Market to be Worth USD 3.76 Bn by 2023
According to a new Research on Global Markets report, the global radiation dose monitoring market is expected to be worth approximately USD 3.76 Bn by 2023, expanding at a compound annual growth rate (CAGR) of 8.5% during 2018-2023. Exposure to ionizing radiation used in medical imaging processes has left patients with an increased risk of cancer, and this has resulted in the implementation of radiation dose monitoring systems across the world.
The market research report highlights that the demand for radiation dose monitoring is on the rise across the world, mainly due to changes in law pertaining to the recording of radiation dosage in developed nations, coupled with increasing pressure from patients and mass media.
According to the report, the global radiation dose monitoring market is segmented based on device, type, and application. Based on devices, the radiation dosimeters dominated the market with nearly 75% market share in 2017, and the segment is expected to expand at the highest CAGR during the forecasted period.
In terms of type, the hardware and software segment together accounted for more than 90% of the market share in 2017, owing to increased demand for radiation dose monitors across the world. Based on applications, the radiography segment registered the highest market share of 55% in 2017, owing to the rise in radiology procedures across the world and increased government initiatives toward radiation dose measurement, according to Research On Global Markets.
Research On Global Markets tracks the performance of the global radiation dose monitoring market across the key geographies of North America, Latin America, Europe, Asia Pacific, and Middle East and Africa. North America held the largest share of the market in 2017, contributing to 45% of the global revenue. However, with a rising patient population base and growing initiatives toward establishing nuclear power plants, the Asia-Pacific and Latin American markets are expected to witness the highest growth rate during the forecasted period.
Key highlights of this report:
- Global market overview - historical (2015-2017) and forecasted (2018-2023) market size (USD Bn), geography-wise market revenue (USD Bn), and key market observations
- Qualitative analysis of the drivers and challenges affecting the global market
- Major trends in the global radiation dose monitoring market
- Analysis of the competitive landscape and profiles of the major players operating in the market
- Market segmentation based on the device (dosimeter and area process meter) - historical (2015-2017) and forecasted (2018-2023) market size (USD Bn), and key market observations
- Market segmentation based on the type (software, hardware and service) - historical (2015-2017) and forecasted (2018-2023) market size (USD Bn), and key market observations
- Market segmentation based on the application area (radiography, angiography, mammography, tomography and fluoroscopy) - historical (2015-2017) and forecasted (2018-2023) market size (USD Bn), and key market observations
- Market segmentation based on region (North America, Europe, Asia-Pacific, Latin America and The Middle East and Africa)
This report has been formulated and designed with the purpose of giving businesses a concise understanding of the demand for radiation dose monitoring systems across the world to determine the viability of the market, develop strategies based on the drivers, and to help brands identify competition and respond accordingly.