The radiation dose management market is sized around USD 362.2 million in 2023, and it will power at 15.4% rate by the end of this decade, to touch USD 973.2 million by 2030. This development of the industry is for the reason that there are growing worries related to radiation exposure and the mounting occurrence of cancer needing radiation therapy.  

For example, according to a Cancer Research UK, there will be 28 million new-fangled cases of cancer all over the world yearly by 2040, if incidence remains constant and elderly and populace growth continues reliable with current trends. 

Furthermore, according to the World Health Organization, more than 50% of patients, who are suffering from cancer need radiotherapy throughout their cancer care procedures. Though, radiotherapy access is insufficient, mainly in low- & middle-income countries. 

Radiation therapy is a key branch of medical science. Different ailments for example CVDs, cancer, and others are diagnosed and treated with the use of electromagnetic waves. It is extensively used for treating numerous cancer forms. But there are side effects of radiation therapy as well. Therefore, dose monitoring is very important in any radiation-based medical process. The radiation dose is referred to as the radiation given to the patient. 

Hospitals, based on end user, is the leader of the industry. This can be mostly because of the growing acceptance of teleconsultation and telehealth in the medical providers community, targeting to reduce the stress on healthcare facilities.  

Furthermore, the appropriateness provided by radiation dose management solutions lets medical specialists to quickly access patient dose records, allow instantaneous dose exposure, and advance data management. Consequently, fostering a bigger acceptance of these services amongst medical providers. 

North America is the leader of the radiation dose management market. The robust development of the regional has a lot to do with the considerable healthcare IT expenditures along with the high use of advanced radiation software solution. 

According to the U.S. CMS, the healthcare spending of the country grew 4.1% to reach USD 4.5 trillion in 2022. A faster rate as opposed to the growth of 3.2% in 2021. 

The continent's beneficial conditions, for example the presence of key players and the onset of startups, will also boost the growth of the industry in the years to come as well. 

Europe followed the North American region in terms of revenue, due to the government initiative for enhancing the safety of patients, the occurrence of chronic illnesses, and rising healthcare spending. Moreover, the increasing awareness with regards to radiation dose safety with the help of campaigns and conferences is also aiding the industry development in this region. 

Due to the growing worries related to the exposure of radiation, the demand for radiation dose management is on the rise. 

SOURCE: P&S Intelligence