Radiation Dose Monitoring Market Report to Share Key Aspects of the Industry with the Details of Influence Factors

In a recent published report, Kenneth Research has updated the Market report for Radiation Dose Monitoring Market for 2021 till 2030. Report further now discusses; the various strategies to be adopted or being adopted by the business players across the globe at various levels in the value chain. In the view of the global economic slowdown, we further estimated that China, India, Japan and South Korea to recover fastest amongst all the countries in the Asian market. Germany, France, Italy, Spain to take the worst hit and this hit is expected to be regain 25% by the end of 2021- Positive Growth in the economic demand and supply.

U.S. Market recovers fast; In a release on May 4th 2021, the U.S. Bureau and Economic Analysis and U.S. Census Bureau mentions the recovery in the U.S. International trade in March 2021. Exports in the country reached $200 billion, up by $12.4 billion in Feb 2021. Following the continuous incremental trend, imports tallied at $274.5 billion, picked up by $16.4 billion in Feb 2021. However, as COVID19 still haunts the economies across the globe, year-over-year (y-o-y) average exports in the U.S. declined by $7.0 billion from March 2020 till March 2021 whilst imports increased by $20.7 billion during the same time. This definitely shows how the market is trying to recover back and this will have a direct impact on the Healthcare/ICT/Chemical industries, creating a huge demand for Radiation Dose Monitoring Market Products.

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Exposure to ionizing radiation used in medical imaging processes has left patients with an increased risk of cancer rather than alleviating such hazards. This, as a result, has necessitated the implementation of radiation dose monitoring systems across the world. The demand for radiation dose monitoring is rising globally in line with changing laws in developed nations, which require recording of dosage along with increasing public pressure from patients and mass media. Thus, the global radiation dose monitoring market is anticipated to reach a value of USD 3.76 Bn by 2023, growing at a compound annual growth rate (CAGR) of 8.5% during the forecast period 2018-2023.

According to the statistics by the World Bank, the current health expenditure (% of GDP) around the world increased from 9.08% in 2001 to 9.84% in 2018. Additionally, the current health expenditure per capita (current US$) increased from USD 492.99 in 2001 to USD 1110.84 in 2018. Moreover, growing concern for deaths caused due to various diseases and the need for treatment that can lower the crude death rate, which in the year 2019 recorded close to 7% (per 1000 people), are also anticipated to drive the market growth during the forecast period.

Device segment insights:

The radiation dosimeters dominated the market with a share of nearly 75% in 2017. It is expected to expand at a higher CAGR as compared to area process monitor during the forecasted period. This is mainly due to rise in the number of radiological procedures, rising awareness among the public with regard to radiation exposure, and the increase in the number of nuclear facilities worldwide.

“Final Report will add the analysis of the impact of COVID-19 on this industry.”

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Type segment insights:

Owing to fostering demand of radiation dose monitors across the globe, the hardware and software market together accounted for more than 90% of the market share in 2017. On the other hand, the need to train consumers and service providers helped the service market grow at the highest rate during the forecasted period.

Application segment insights:

The rise in radiology procedures throughout the world and the increase in government initiatives towards radiation dose measurement, enabled the radiography market to have the highest market share of nearly 55% in 2017. This sector is also expected to have the highest growth rate in the given forecast period. In addition to that, tomography is expected to follow the radiography market in terms of growth rate.

Regional insights:

North America has been leading the market with a share of nearly 45% in 2017. This is mainly attributed to the presence of a large number of healthcare facilities, nuclear power plants, and global players in this region. However, with rising patient population base and growing initiatives towards establishment of nuclear power plants, the Asia-Pacific and Latin American markets are expected to witness the highest growth rate in comparison to developed nations in the coming five years.

Companies covered:

1. GE Healthcare
2. Philips Healthcare
3. Landauer
4. Sectra
5. Mirion Technologies, Inc.
6. Fuji Electric
7. Ludlum
8. Canon Medical Systems Corporation
9. Medic Vision Imaging Solutions, Ltd.
10. Novarad Corporation

Customizations available
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The report further discusses the market opportunity, compound annual growth rate (CAGR) growth rate, competition, new technology innovations, market players analysis, government guidelines, export and import (EXIM) analysis, historical revenues, future forecasts etc. in the following regions and/or countries:

  • North America (U.S. & Canada) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook
  • Latin America (Brazil, Mexico, Argentina, Rest of Latin America) Market size, Y-O-Y growth & Market Players Analysis & Opportunity Outlook
  • Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC, Poland, Turkey, Russia, Rest of Europe) Market size, Y-O-Y growth Market Players Analys  & Opportunity Outlook
  • Asia-Pacific (China, India, Japan, South Korea, Indonesia, Malaysia, Australia, New Zealand, Rest of Asia-Pacific) Market size, Y-O-Y growth & Market Players Analysis & Opportunity Outlook
  •  Middle East and Africa (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of Middle East and Africa) Market size, Y-O-Y growth Market Players Analysis & Opportunity Outlook

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