sales@beyondmarketinsights.com
+1 (310) 601-4227
Request Free Sample
Download PDF Brochure
Market Insights - Industry Research Report
  • Published Date : March 2023
  • Report ID : 5420
  • Pages : 190
  • Industries : Healthcare
  • Formats :

Medical Cyclotron Market

Medical Cyclotron Market Analysis by Type (Ring Cyclotron, Azimuthally Varying Field (AVF) Cyclotron), By Product (Cyclotron 10-12 MeV, Cyclotron 16-18 MeV, Cyclotron 19-24 MeV, Cyclotron 24 MeV and Above), By Application (Diagnostic and Treatment, Research, and Development, Others), By End User (Hospitals, Diagnostic Centers, Commercial Radioisotope Manufacturers, Research and Academic Institutes), and By Region – Global and Regional Industry Overview, Premium Insights, Size, Share, Growth, Market Intelligence, Complete Analysis, Historical Data, and Forecasts 2023 – 2030
Request Free Sample
Request PDF Brochure
Talk To Analyst

The Global Medical Cyclotron Market Was Worth USD 229.17 Million in 2022 And is Estimated to Grow to USD 427.33 Million by 2030, With a CAGR of Around 8.1 % Over the Forecast Period From 2023 To 2030.

Medical Cyclotron Market Overview

Medical cyclotrons are particle accelerators used to detect and treat chronic diseases, including cancer, cardiovascular disease, and others. The cyclotron accelerates charged particles in a spiral motion using a magnet and high electrical voltage. The particles collide with a target and undergo a nuclear reaction, producing radioactive isotopes. As a result, a medical cyclotron can also be referred to as an apparatus that produces isotopes. Furthermore, rising levels of investment in the development of better medical techniques, rising levels of people’s disposable income, rising numbers of cancer patients seeking diagnostic treatments with PET scans, rising prevalence of geriatrics around the world, and changes in consumer lifestyle are some of the important and major factors that will probably accelerate the growth of the medical cyclotron.

COVID-19 Impact

COVID-19 had an impact on both the market share and demand for medical cyclotrons. The novel coronavirus (COVID-19) is expected to have a frequency between 30 kHz and 500 kHz using medical cyclotron technology. Businesses in the medical cyclotron industry are participating in studies to provide antiviral medications that are anticipated to decrease the negative effects of the virus. To boost sales of medical cyclotrons, businesses are focusing more on genome sequencing to develop COVID-19 medications. The COVID-19 outbreak has been linked to a high rate of disease and death. R&D initiatives have grown in healthcare firms as a result.

Market Drivers

One of the main factors driving the market growth is the rising geriatric population, who are more susceptible to cancer. Additionally, there is an increase in demand for diagnostic procedures, including PET scans, due to changing lifestyles, rising disposable incomes, and growing knowledge of the use of medical cyclotrons in the detection of cancers. A positive picture for the industry is being created by this, together with large expenditures in the healthcare infrastructure and the growing switch from nuclear reactors to medical cyclotrons. Additionally, the need for nuclear scans for precise diagnosis has grown globally due to the rise in cancer incidence. Furthermore, medical cyclotrons are rapidly being used in cardiology, neurology, and cancer in hospitals and diagnostic institutes, which are expected to favorably affect demand for medical cyclotrons throughout the world.

Restraints

The limitations connected to the usage of cyclotrons for the generation of new radioisotopes are projected to serve as a hindrance to the global medical cyclotron market. Lack of technical experience, as well as severe regulatory rules in establishing cyclotrons, would most likely function as market limitations for the expansion of the medical cyclotron in the above-mentioned timeframe. The increasing requirement for substantial capital expenditure, along with the commercial availability of isotopes, will be the market’s largest and most pressing problem.

Medical Cyclotron Market: Segmentation

The global medical cyclotron market has been segmented into type, product, application, and end user.

  • Based on the type, the global medical cyclotron market is divided into ring cyclotrons and azimuthally varying field (AFV) cyclotrons. The azimuthally varying field (AFV) cyclotron accounted for the majority of revenue share in the market in 2021 because it has magnetic fields that change with alternated strong and weak to focus beam axially, which is expected to boost the sales of medical cyclotrons in the market.
  • Based on product, the market is classified into cyclotron 10-12 MeV, cyclotron 16-18 MeV, cyclotron 19-24 MeV, cyclotron 24 MeV, and above. Among these, cyclotrons 16-18 MeV dominated the market with the largest revenue share in 2021. The growth of the segment can be ascribed to the rising demand for nuclear scans, the growing prevalence of cancer, and increasing awareness of cancer across the globe.

Medical Cyclotron Market: Regional Landscape

Asia-Pacific dominated the medical cyclotron market in 2022 due to rising investments in healthcare infrastructure, growing demand for cost-effective options, and the prevalence of a widening base of cancer patients. On the other hand, Europe is expected to grow at a higher CAGR over the next few years due to the high prevalence of cancer, rising cancer diagnostic procedures, and growing awareness regarding nuclear scans in the region.

Medical Cyclotron Market: The Competitive Landscape

  • Some of the major competitors dominating the global Medical Cyclotron market include
    1. General Electric Company
    2. Best Cyclotron Systems, Inc
    3. Ionetix Corporation
    4. Varian Medical Systems, Inc
    5. IBA Radiopharma Solutions
    6. Advanced Cyclotron Systems
    7. Sumitomo Heavy Industries, Ltd
    8. isoSolution Inc.
    9. Siemens Healthcare Private Limited
    10. ALCEN, Ebco Industries Ltd
    11. ANSTO
    12. UNGER Medizintechnik GmbH & Co
    13. Best ABT Molecular Imaging, Inc
    14. Light Point Medical
    15. Atulaya Healthcare
    16. Vega Medical

Recent Developments

  • June 2021: IBA, which is the world’s leading provider of solutions for the diagnosis and treatment of cancer, has launched its new high-energy and high-capacity cyclotron, the Cyclone IKON, which offers the largest energy spectrum for PET and SPECT isotopes from 13 MeV to 30 MeV. This launch will expand the product portfolio as well as the customer base of the company.

Global Medical Cyclotron Market is Segmented as Follows:

Medical Cyclotron Market by Type Outlook (Revenue, USD Million, 2017 – 2030)

  1. Ring Cyclotron
  2. Azimuthally Varying Field (AVF) Cyclotron

Medical Cyclotron Market by Product Outlook (Revenue, USD Million, 2017 – 2030)

  1. Cyclotron 10-12 MeV
  2. Cyclotron 16-18 MeV
  3. Cyclotron 19-24 MeV
  4. Cyclotron 24 MeV and Above

Medical Cyclotron Market by Application Outlook (Revenue, USD Million, 2017 – 2030)

  1. Diagnostic & Treatment
  2. Research & Development
  3. Others

Medical Cyclotron Market by End User Outlook (Revenue, USD Million, 2017 – 2030)

  1. Hospitals
  2. Diagnostic Centers
  3. Commercial Radioisotope Manufacturers
  4. Research & Academic Institutes

Medical Cyclotron Market by Region Outlook (Revenue, USD Million, 2017 – 2030)

  1. North America
    • United States
    • Canada
    • Mexico
  2. Europe
    • France
    • United Kingdom
    • Spain
    • Germany
    • Italy
    • Rest of Europe
  3. Asia Pacific
    • China
    • Japan
    • India
    • New Zealand
    • Australia
    • South Korea
    • Southeast Asia
    • Rest of Southeast Asia
  4. The Middle East & Africa
    • Saudi Arabia
    • UAE
    • Egypt
    • Kuwait
    • South Africa
    • Rest of the Middle East & Africa
  5. Latin America
    • Brazil
    • Argentina
    • Rest of Latin America
Medical Cyclotron Market Report Scope
Report AttributeDetails
Market Size Value in 2022USD 229.17 billion
Revenue Forecast in 2030USD 427.33 billion
Growth RateCAGR of 8.1 % from 2023 to 2030
Base Year for Estimation2022
Historical Data2017 – 2022
Forecast Years2023 – 2030
Quantitative UnitsRevenue in USD million and CAGR from 2023 to 2030
Report CoverageRevenue forecast, company ranking, Trends
competitive landscape, and growth factors
Segments CoveredProduct, Type, Application, End-use, and Region
Regional ScopeNorth America; Europe; Asia Pacific; Latin America; Middle East & Africa
Country ScopeU.S.; Canada; U.K.; Germany; China; India; Japan; Brazil; Mexico and Others
Key Companies ProfiledGeneral Electric Company, Best Cyclotron Systems, Inc., Ionetix Corporation, Varian Medical Systems, Inc., IBA Radiopharma Solutions, Advanced Cyclotron Systems, Sumitomo Heavy Industries, Ltd., isoSolution Inc., Siemens Healthcare Private Limited, ALCEN, Ebco Industries Ltd., ANSTO, and Others.

Frequently Asked Questions

The main reasons anticipated to propel the medical cyclotron market during the forecast period are primarily driven by the rising elderly population predominance worldwide, increasing levels of investment in the development of improved medical treatments, and growing numbers of cancer patients.
According to the report, the global medical cyclotron market size was worth USD 229.17 million in 2022 and is estimated to grow to USD 427.33 million by 2030, with a compound annual growth rate (CAGR) of approximately 8.1 % over the forecast period.
Asia-Pacific dominated the medical cyclotron market in 2021 due to rising investments in healthcare infrastructure, growing demand for cost-effective options, and the prevalence of a widening base of cancer patients.
Some of the main competitors dominating the global medical cyclotron market include General Electric Company, Best Cyclotron Systems, Inc., Ionetix Corporation, Varian Medical Systems, Inc., IBA Radiopharma Solutions, Advanced Cyclotron Systems, Sumitomo Heavy Industries, Ltd., isoSolution Inc., Siemens Healthcare Private Limited, ALCEN, Ebco Industries Ltd., ANSTO, UNGER Medizintechnik GmbH & Co.KG, Trasis, Best ABT Molecular Imaging, Inc., Light point Medical, Atulaya Healthcare, and Vega Medical.

Share

Buy Now
Request Discount
Request Customization

Get in Touch with Us

+1 (310) 601-4227 (US)

sales@beyondmarketinsights.com

Talk To Analyst
Alzheimer’s Therapeutics Market

Report on Alzheimer’s Therapeutics Market: Size, Share, and Growth – Covering By Product Type (Cholinesterase Inhibitors, NMDA Receptor Antagonist, Combination Drug, Pipeline Drugs), By End-user (Hospital Pharmacy, Retail Pharmacy, E-commerce), Segments, and Regional Analysis – Providing a Global and Regional Industry Overview, Market Intelligence, Premium Insights, Comprehensive Analysis, Historical Data, and Forecasts for the Period 2024-2032

Read More »
Abrasive Polishing Fluid Market

Abrasive Polishing Fluid Market Size, Share, & Growth Report By Type (Mechanical Action Polishing Fluid and Chemical Action Polishing Fluid), By Application (Silicon Wafers, Optical Substrate, Disk Drive Components, and Others), and By Region -Global and Regional Industry Overview, Premium Insights, Market Intelligence, Complete Analysis, Historical Data, and Forecasts 2024 – 2032

Read More »
Ablation Devices Market

Ablation Devices Market Size, Share, and Growth Report By Type (Laser Ablation, Radiofrequency Ablation, Ultrasound Ablation, Cryoablation, Electrical Ablation, Microwave Ablation, Hydrothermal Ablation), By Application (Cancer, Cardiovascular, Orthopedics, Pain Management), and By Region -Global and Regional Industry Overview, Premium Insights, Market Intelligence, Complete Analysis, Historical Data, and Forecasts 2024 – 2032

Read More »
Direct Call

+1 (310) 601-4227

Contact Us

30 N Gould St Ste R
Sheridan, WY 82801, USA

Mail Us

sales@beyondmarketinsights.com

Beyond Market Insights

Beyond Market Insights is a leading provider of comprehensive market research and industry intelligence. We strive to equip businesses with reliable data, analysis, and insights to drive growth, make informed decisions, and stay ahead of market trends. With our expertise and commitment to excellence, we are your trusted partner in unlocking the potential of your business.

  • Menu
  • Reader Club
  • Help
  • Corporate Location
Beyond Market Insights
30 N Gould St Ste R
Sheridan, WY 82801
USA
Linkedin Twitter Facebook Instagram Pinterest Medium

Copyright © 2024 Beyond Market Insights, All Rights Reserved.