New York, NY -- (SBWIRE) -- 07/11/2019 -- 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.

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The major players in the Radiation Dose Monitoring market are
- GE Healthcare
- Philips Healthcare
- Landauer
- Sectra
- Mirion Technologies, Inc.
- Fuji Electric
- Ludlum
- Canon Medical Systems Corporation
- Medic Vision Imaging Solutions, Ltd.
- Novarad Corporation

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.

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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.

Key Stakeholders
- Radiation Dose Monitoring Manufacturers
- Radiation Dose Monitoring Distributors/Traders/Wholesalers
- Radiation Dose Monitoring Subcomponent Manufacturers
- Industry Association
- Downstream Vendors
- Available Customizations

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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.

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