Kenneth Research has evaluated the current market opportunities in Radiation Dose Monitoring Market in the healthcare industry for the forecast period 2022-2031, which also includes the ongoing industry trends and innovations that will help industry players to attain their business targets. Apart from that, the inclusive data on market size, market share and forecast, growth opportunities and challenges for the market players, along with the worldwide analysis on regions- North America, Latin America, Europe, Asia Pacific and Middle East & Africa, has also been provided in the report.
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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According to the statistics by the World Bank, current health expenditure around the world increased from 9.391 % of GDP in the year 2011 to 9.896 % of GDP in the year 2017. Moreover, the statistics also stated that Tuvalu, a nation in Oceania region, had the highest expenditure of 17.143 % of GDP in the year 2017, followed by the United States, with 17.061 % of GDP.
“Final Report will add the analysis of the impact of COVID-19 on this industry.”
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.
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.
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
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The Market report answers the following questions:
What is the aim of the report?
- The market report presents the estimated market size of Radiation Dose Monitoring Market by the end of forecast period. Additionally, the historical and current market size is also examined in the report.
- Based on various indicators, the Year-on-Year growth (%) and compound annual growth rate (CAGR) for the given forecast period is offered.
- An overview of the Market based on geographical scope, market segmentation and financial performance of key players is presented in the report.
- The report presents current trends in the industry and future scope of the Market in North America, Asia Pacific, Europe, Latin America and Middle East and Africa.
- The various parameters accelerating the growth of Market are incorporated in the research report.
- The report analyzes growth rate, market size and valuation of the Market during the forecast period.
What aspects regarding the regional analysis Market are included in this report?
- Geographical regions covered in the report include North America, Europe, Asia Pacific, Latin America and Middle East & Africa region.
- The report consists of detailed region-wise analysis of current and future market trends, providing information on product usage and consumption.
- The growth rate of the market in every region, including their countries over the forecast period is included in the market report.
Based on what factors are the key market players assessed in this report?
- The report offers detailed analysis of leading companies in the market across the globe.
- It provides details of the major vendors involved in the Market including Key Players
- A comprehensive overview of each company including the company profile, generated revenue, pricing of goods and the manufactured products is incorporated in the report.
- The facts and figures about market competitors along with standpoints of leading market players are presented in the report.
- The recent developments, mergers and acquisitions related to mentioned key players are provided in the market report.
What is the key information extracted from the report?
- Extensive information on factors estimated to affect the Market growth and market share during the forecast period is presented in the report.
- The report offers the present scenario and future growth prospects Market in various geographical regions.
- The competitive landscape analysis on the market as well as the qualitative and quantitative information is delivered.
- The SWOT analysis is conducted along with Porter’s Five Force analysis.
- The in-depth analysis provides an insight into the Market, underlining the growth rate and opportunities offered in the business.
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