Radiation may be described as the release of electromagnetic waves, in particular the high-power particles which purpose ionization. Monitoring of the radiation dose is of high importance to decrease the side effect results. The global radiation dose management market was valued approximately US$ 1.0 Bn in 2016 and is anticipated to register CAGR of over 9.0% from 2017 to 2025 to reach value of approximately US$ 3.0 Bn by 2025. Increasing number of chronic diseases such as cardiovascular, cancer, growing safety concerns and improving quality of patient care are likely to fuel expansion of the global radiation dose management market from 2017 to 2025.
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Pricing Constraints and Technical Limitation associated with software to Restrain Global Market Expansion
Radiation dose monitoring is a software that stores and analyses information on patients’ radiation exposure from medical imaging involving ionizing radiation. Radiation doses are monitored through radiation dose monitoring software such as DoseWatch and DoseTrack. Growing safety concerns, improving quality of patient care, rising geriatric population is likely to fuel uptake of radiation dose management system. However, medical imaging has become an essential test before surgery and to diagnose diseases. Increasing radiation dose monitoring software cost is a major restrain for the radiation dose management market. Small hospital or clinics cannot not afford as result. Moreover, hacking of data can erase the data, which can tamper with the hospital’s database. High dependence on software can leave the hospital vulnerable to software crashes and detection of virus, which can corrupt the entire data. These major technical limitations associated with software are likely some factor to hamper the radiation dose monitoring market.
Services segment to Lose Market Share
The report offers detailed segmentation of global radiation dose management market based on product and services, modality, application and end user. Among the product and services studied, product (Software) segment is poised to account for leading share of the global market during the forecast period from 2017 to 2025. Growth of the segment is attributed to increasing application of integrated software due to its benefits such as global access. The software interconnects databases to make radiation dose easily accessible. The services segment is anticipated to lose its market share during the forecast period, and is expected to hold a share of ~23.0% by 2025 from ~24.0% in 2016. Availability of remote base software system and integrated software are some factors likely to hamper this segment.