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Market Overview

• Current Market Size and Growth
  • The radiation dose management market has experienced significant growth, with its size increasing from $0.71 billion in 2023 to $0.85 billion in 2024. This growth reflects a robust compound annual growth rate (CAGR) of 19.1%.
  • Factors contributing to this growth include heightened awareness of radiation risks, stricter regulatory requirements, an increase in diagnostic imaging procedures, and advancements in imaging technologies.
• Future Projections
  • The market is anticipated to reach $1.73 billion by 2028, with a CAGR of 19.4%.
  • Key drivers include the expansion of cloud-based solutions, increased awareness of patient safety, integration of artificial intelligence (AI), a rise in diagnostic centers, and advancements in imaging modalities.

Key Trends Influencing the Market

• Technological Advancements
  • The market is witnessing rapid advancements in technology, including the development of new radiation dose-managing devices and innovations in product offerings.
• Integration of AI and IoT
  • The integration of artificial intelligence (AI) and the Internet of Things (IoT) is enhancing radiation dose management, leading to more efficient and accurate monitoring solutions.

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Increasing Cancer Incidences Driving Growth

• Rising Cancer Cases
  • The growing incidence of cancer is a major factor driving the radiation dose management market. Cancer’s prevalence is attributed to various factors such as family history, lifestyle choices, genetic predispositions, and environmental exposures.
• Market Impact
  • With over 35 million new cancer cases expected by 2050, radiation dose management solutions are crucial in diagnosing and treating cancer while minimizing radiation risks. This significant increase in cancer cases is set to further propel market growth.

Innovative Developments by Major Companies

• Tracerco’s Next-Generation Dosimeters
  • In March 2022, Tracerco launched the PED2 range of personal electronic dosimeters. These devices offer advanced detection technology and are supported by the DoseVision2 cloud-based management platform, enhancing radiological safety and compliance.
• AURELIUS Group’s Acquisition
  • In April 2023, AURELIUS Group acquired Agfa-Gevaert’s Offset Solutions division. This strategic move is aimed at bolstering the company’s consumables and services portfolio, further strengthening its position in the market.

Market Segmentation

• By Component
  • The market is divided into Software and Services.
• By Modality
  • Segments include Computed Tomography, Fluoroscopy and Interventional Imaging, Radiography and Mammography, and Nuclear Medicine.
• By Application
  • The market serves applications in Oncology, Cardiology, Orthopedic Applications, and other fields.
• By End-User
  • End-users include Hospitals, Ambulatory Care Settings, and other institutions.

Regional Insights

• North America
  • North America was the largest market in 2023, reflecting strong demand and established infrastructure.
• Asia-Pacific
  • Asia-Pacific is expected to be the fastest-growing region, driven by increasing healthcare investments and rising awareness of radiation safety.

Conclusion

The radiation dose management market is poised for continued rapid growth, driven by technological advancements, increasing cancer incidences, and strategic moves by major players. As the industry evolves, the integration of AI and IoT will play a crucial role in enhancing radiation safety and efficiency. With a promising outlook, the market is set to expand significantly, benefiting from advancements and innovations in radiation dose management.

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