According to a report from Transparency Market Research, the global radiation dose management market valued at $143.2 million in 2017, is projected to expand at a compound annual growth rate of 26.7% from 2018 to 2026, on its way $1.36 billion in 2026.
The researchers attribute the anticipated increase to a greater prevalence of cardiovascular disease, cancers, an aging population in the U.S., and an expected surge in demand for medical imaging, among a slew of other market factors.
In terms of modality, the computed tomography segment held the major market share in 2017, according to the report. Growth in that market segment is attributed to an increase in the number of diseases and requirement of CT scan for diagnoses.
In terms of application, the oncology segment held the major market share in 2017, and that trend is projected to continue during the forecast period. Growth of the segment is attributed to increasing number of cancer cases. According to a recent WHO report, cancer is expected to account for 70% of global deaths in the next two decades, the researchers note.