Medical procedures, such as computed tomography (CT), chest x-rays, radiation therapy, and positron emission tomography (PET) scans, can cause cell damage that results in cancer. Exposure to radiation emitted through these medical systems can also cause nausea, hair loss, skin and mouth sores, fainting, bleeding, vomiting, and confusion and diarrhea among the exposed patients. The radiation exposure is, however, not only limited to patients, but can also harm medical practitioners..
According to PS Intelligence, the market revenue will surge from $129.8 million in 2016 to $1.7 billion by 2023. The World Health Organization (WHO) states that around 17.9 million fatalities were caused due to cardiovascular diseases (CVDs) in 2019, accounting for approximately 32% of all global deaths.
RDM solutions and services are used in hospitals, academic institutes, research laboratories, and super specialty clinics. In the preceding years, hospitals were the prominent customers of such solutions and services due to the rising volume of diagnostic procedures for disease treatment and management and increasing adoption of radiography and mammography, nuclear medicine, CT, and fluoroscopy and interventional imaging modalities at these healthcare facilities. In recent years, the CT modality has been preferred over other modalities as it requires much higher doses of radiation.
Globally, the North American region emerged as the largest user of RDM solutions and services in the preceding years, due to the surging incidence of chronic diseases and the increasing number of CT examinations in the region. For instance, the Centers for Disease Control and Prevention (CDC) states that over 1.6 million new cancer cases are recorded every year in the U.S. Further, the Government of Canada estimates that cancer, ischemic heart disease, and diabetes affect around 21.5%, 27.0%, and 26.8% of the country’s geriatric population (people aged 65 years and above), respectively.
Therefore, the surging use of radiation-based medical equipment to diagnose and treat patients, owing to the rising cases of chronic diseases, will facilitate the adoption of RDM solutions and services worldwide.
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This study covers
- Major factors driving the market and their impact during the short, medium, and long terms
- Market restraints and their impact during the short, medium, and long terms
- Recent trends and evolving opportunities for the market participants
- Historical and the present size of the market segments and understand their comparative future potential
- Potential of on-demand logistics services, so the market players make informed decisions on the sales of their offerings
- Competitive scenario of various market segments across key countries in several regions for uncovering market opportunities for the stakeholders
