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
- 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
- Best ABT Molecular Imaging, Inc
- Light Point Medical
- Atulaya Healthcare
- 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)
- Ring Cyclotron
- Azimuthally Varying Field (AVF) Cyclotron
Medical Cyclotron Market by Product Outlook (Revenue, USD Million, 2017 – 2030)
- Cyclotron 10-12 MeV
- Cyclotron 16-18 MeV
- Cyclotron 19-24 MeV
- Cyclotron 24 MeV and Above
Medical Cyclotron Market by Application Outlook (Revenue, USD Million, 2017 – 2030)
- Diagnostic & Treatment
- Research & Development
- Others
Medical Cyclotron Market by End User Outlook (Revenue, USD Million, 2017 – 2030)
- Hospitals
- Diagnostic Centers
- Commercial Radioisotope Manufacturers
- Research & Academic Institutes
Medical Cyclotron Market by Region Outlook (Revenue, USD Million, 2017 – 2030)
- North America
- United States
- Canada
- Mexico
- Europe
- France
- United Kingdom
- Spain
- Germany
- Italy
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- New Zealand
- Australia
- South Korea
- Southeast Asia
- Rest of Southeast Asia
- The Middle East & Africa
- Saudi Arabia
- UAE
- Egypt
- Kuwait
- South Africa
- Rest of the Middle East & Africa
- Latin America
- Brazil
- Argentina
- Rest of Latin America
Medical Cyclotron Market Report Scope |
Report Attribute | Details |
Market Size Value in 2022 | USD 229.17 billion |
Revenue Forecast in 2030 | USD 427.33 billion |
Growth Rate | CAGR of 8.1 % from 2023 to 2030 |
Base Year for Estimation | 2022 |
Historical Data | 2017 – 2022 |
Forecast Years | 2023 – 2030 |
Quantitative Units | Revenue in USD million and CAGR from 2023 to 2030 |
Report Coverage | Revenue forecast, company ranking, Trends competitive landscape, and growth factors |
Segments Covered | Product, Type, Application, End-use, and Region |
Regional Scope | North America; Europe; Asia Pacific; Latin America; Middle East & Africa |
Country Scope | U.S.; Canada; U.K.; Germany; China; India; Japan; Brazil; Mexico and Others |
Key Companies Profiled | 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, and Others. |
Table of Content
Medical Cyclotron Market Size, Share, Growth, and Forecast Report
Chapter 1. Introduction
1.1. Report Description
1.1.1. Aim of the Report
1.1.2. Prospective Audience
1.1.3. Unique Selling Prepositions and Key Takeaways from the Report
1.2. Scope of the Research Study
1.3. Approach/Research Methodology
1.3.1. Secondary Research
1.3.2. Primary Research
1.3.3. Expert Panel Review
1.3.4. Market Data Breakdown and Data Triangulation
1.3.5. Research Approach for Market Size Estimation
1.3.5.1. Top-Down Approach
1.3.5.2. Bottom-Up Approach
1.3.6. Key Assumptions
1.4. Market Segmentation
1.4.1. Type
1.4.2. Product
1.4.3. End User
1.4.4. Application
Chapter 2. Medical Cyclotron Market Overview
2.1. Introduction
2.2. Analysis by Type, 2017-2030 (USD Million)
2.3. Analysis by Product, 2017-2030 (USD Million)
2.4. Analysis by End User, 2017-2030 (USD Million)
2.5. Analysis by Application, 2017-2030 (USD Million)
2.6. Market Analysis by Region, 2017-2030 (USD Million)
Chapter 3. Medical Cyclotron Market Dynamics
3.1. Introduction
3.2. Growth Drivers
3.3. Growth Restraints
3.4. Growth Opportunities
3.5. Porter’s Five Forces Analysis
3.5.1. Threat of New Entrants
3.5.2. Bargaining Power of Buyers/Consumers
3.5.3. Bargaining Power of Suppliers
3.5.4. Threat of Substitute Types
3.5.5. Intensity of Competitive Rivalry
3.6. Attractiveness Analysis
3.6.1. Type
3.6.2. Product
3.6.3. End User
3.6.4. Application
3.6.5. Region
3.7. Value Chain Analysis
Chapter 4. Medical Cyclotron Market Competition Analysis
4.1. Medical Cyclotron Market Share Analysis by Company, 2019 – 2021
4.1.1. Top 3 Players, 2019 – 2021
4.1.2. Top 6 Players, 2019 – 2021
4.2. Strategic Initiatives
4.2.1. New Products Launch
4.2.2. Mergers/Acquisitions
4.2.3. Agreement and Collaborations
4.2.4. Partnerships, Joint Ventures, Expansion, and Distribution
Chapter 5. Global Medical Cyclotron Market Analysis by Type, Product, End User, and Application, 2017-2030 (USD Million)
5.1. Type
5.1.1. Global Medical Cyclotron Market Share, by Type, 2021 and 2030
5.1.2. Global Medical Cyclotron Market Revenue, by Type, 2017-2030 (USD Million)
5.1.3. By Ring Cyclotron Market Analysis 2017-2030 (USD Million)
5.1.4. By Azimuthally Varying Field (AVF) Cyclotron Market Analysis 2017-2030 (USD Million)
5.2. Product
5.2.1. Global Medical Cyclotron Market Share, by Product, 2021 and 2030
5.2.2. Global Medical Cyclotron Market Revenue, by Product, 2017-2030 (USD Million)
5.2.3. By Cyclotron 10-12 MeV Market Analysis 2017-2030 (USD Million)
5.2.4. By Cyclotron 16-18 MeV Market Analysis 2017-2030 (USD Million)
5.2.5. By Cyclotron 19-24 MeV Market Analysis 2017-2030 (USD Million)
5.2.6. By Cyclotron 24 MeV and Above Market Analysis 2017-2030 (USD Million)
5.3. End User
5.3.1. Global Medical Cyclotron Market Share, by End User, 2021 and 2030
5.3.2. Global Medical Cyclotron Market Revenue, by End User, 2017-2030 (USD Million)
5.3.3. By Hospitals Market Analysis 2017-2030 (USD Million)
5.3.4. By Diagnostic Centers Market Analysis 2017-2030 (USD Million)
5.3.5. By Commercial Radioisotope Manufacturers Market Analysis 2017-2030 (USD Million)
5.3.6. By Research & Academic Institutes Market Analysis 2017-2030 (USD Million)
5.4. Application
5.4.1. Market Share, by Application, 2021 and 2030
5.4.2. Market Revenue, by Application, 2017-2030 (USD Million)
5.4.3. By Diagnostic & Treatment Market Analysis 2017-2030 (USD Million)
5.4.4. By Research & Development Market Analysis 2017-2030 (USD Million)
5.4.5. By Others Application Market Analysis 2017-2030 (USD Million)
Chapter 6. Global Medical Cyclotron Market Type Analysis by Region, 2017-2030 (USD Million)
6.1. Ring Cyclotron Market Analysis 2017-2030 (USD Million)
6.1.1. North America
6.1.2. Europe
6.1.3. Asia Pacific
6.1.4. Latin America
6.1.5. Middle East & Africa
6.2. Azimuthally Varying Field (AVF) Cyclotron Market Analysis 2017-2030 (USD Million)
Chapter 7. Global Medical Cyclotron Market Product Analysis by Region, 2017-2030 (USD Million)
7.1. Cyclotron 10-12 MeV Market Analysis 2017-2030 (USD Million)
7.1.1. North America
7.1.2. Europe
7.1.3. Asia Pacific
7.1.4. Latin America
7.1.5. Middle East & Africa
7.2. Cyclotron 16-18 MeV Market Analysis 2017-2030 (USD Million)
7.3. Cyclotron 19-24 MeV Market Analysis 2017-2030 (USD Million)
7.4. Cyclotron 24 MeV and Above Market Analysis 2017-2030 (USD Million)
Chapter 8. Global Medical Cyclotron Market End User Analysis by Region, 2017-2030 (USD Million)
8.1. Hospitals Market Analysis 2017-2030 (USD Million)
8.1.1. North America
8.1.2. Europe
8.1.3. Asia Pacific
8.1.4. Latin America
8.1.5. Middle East & Africa
8.2. Diagnostic Centers Market Analysis 2017-2030 (USD Million)
8.3. Commercial Radioisotope Manufacturers Market Analysis 2017-2030 (USD Million)
8.4. Research & Academic Institutes Market Analysis 2017-2030 (USD Million)
Chapter 9. Global Medical Cyclotron Market Application Analysis by Region, 2017-2030 (USD Million)
9.1. Diagnostic & Treatment Market Analysis 2017-2030 (USD Million)
9.1.1. North America
9.1.2. Europe
9.1.3. Asia Pacific
9.1.4. Latin America
9.1.5. Middle East & Africa
9.2. Research & Development Market Analysis 2017-2030 (USD Million)
9.3. Others Application Market Analysis 2017-2030 (USD Million)
Chapter 10. Medical Cyclotron Market Analysis by Geography, 2017-2030 (USD Million)
10.1. North America Medical Cyclotron Market Analysis 2017-2030 (USD Million)
10.1.1. U.S. Medical Cyclotron Market Analysis 2017-2030 (USD Million)
10.1.1.1. Type
10.1.1.2. Product
10.1.1.3. End User
10.1.1.4. Application
10.1.2. Canada Medical Cyclotron Market Analysis 2017-2030 (USD Million)
10.1.3. Mexico Medical Cyclotron Market Analysis 2017-2030 (USD Million)
10.2. Europe Medical Cyclotron Market Analysis 2017-2030 (USD Million)
10.2.1. UK Medical Cyclotron Market Analysis 2017-2030 (USD Million)
10.2.1.1. Type
10.2.1.2. Product
10.2.1.3. End User
10.2.1.4. Application
10.2.2. France Medical Cyclotron Market Analysis 2017-2030 (USD Million)
10.2.3. Germany Medical Cyclotron Market Analysis 2017-2030 (USD Million)
10.2.4. Spain Medical Cyclotron Market Analysis 2017-2030 (USD Million)
10.2.5. Russia Medical Cyclotron Market Analysis 2017-2030 (USD Million)
10.2.6. Italy Medical Cyclotron Market Analysis 2017-2030 (USD Million)
10.2.7. Rest of Europe Medical Cyclotron Market Analysis 2017-2030 (USD Million)
10.3. Asia Pacific Medical Cyclotron Market Analysis 2017-2030 (USD Million)
10.3.1. China Medical Cyclotron Market Analysis 2017-2030 (USD Million)
10.3.1.1. Type
10.3.1.2. Product
10.3.1.3. End User
10.3.1.4. Application
10.3.2. Japan Medical Cyclotron Market Analysis 2017-2030 (USD Million)
10.3.3. South Korea Medical Cyclotron Market Analysis 2017-2030 (USD Million)
10.3.4. India Medical Cyclotron Market Analysis 2017-2030 (USD Million)
10.3.5. Australia Medical Cyclotron Market Analysis 2017-2030 (USD Million)
10.3.6. Southeast Asia Medical Cyclotron Market Analysis 2017-2030 (USD Million)
10.3.7. Taiwan Medical Cyclotron Market Analysis 2017-2030 (USD Million)
10.3.8. Rest of Asia Pacific Medical Cyclotron Market Analysis 2017-2030 (USD Million)
10.4. Latin America Medical Cyclotron Market Analysis 2017-2030 (USD Million)
10.4.1. Brazil Medical Cyclotron Market Analysis 2017-2030 (USD Million)
10.4.1.1. Type
10.4.1.2. Product
10.4.1.3. End User
10.4.1.4. Application
10.4.2. Argentina Medical Cyclotron Market Analysis 2017-2030 (USD Million)
10.4.3. Rest of Latin America Medical Cyclotron Market Analysis 2017-2030 (USD Million)
10.5. Middle East Medical Cyclotron Market Analysis 2017-2030 (USD Million)
10.5.1. Israel Medical Cyclotron Market Analysis 2017-2030 (USD Million)
10.5.1.1. Type
10.5.1.2. Product
10.5.1.3. End User
10.5.1.4. Application
10.5.2. Turkey Medical Cyclotron Market Analysis 2017-2030 (USD Million)
10.5.3. Saudi Arabia Medical Cyclotron Market Analysis 2017-2030 (USD Million)
10.5.4. UAE Medical Cyclotron Market Analysis 2017-2030 (USD Million)
10.5.5. Rest of Middle East Medical Cyclotron Market Analysis 2017-2030 (USD Million)
10.6. Africa Medical Cyclotron Market Analysis 2017-2030 (USD Million)
10.6.1. Egypt Medical Cyclotron Market Analysis 2017-2030 (USD Million)
10.6.1.1. Type
10.6.1.2. Product
10.6.1.3. End User
10.6.1.4. Application
10.6.2. South Africa Medical Cyclotron Market Analysis 2017-2030 (USD Million)
10.6.3. Rest of Africa Medical Cyclotron Market Analysis 2017-2030 (USD Million)
Chapter 11. Company Profiles
11.1. Company 1
11.1.1. Company Overview
11.1.2. Financial Performance
11.1.3. Product Benchmarking
11.1.4. Strategic Initiatives
11.2. Company 2
Chapter 12. COVID-19 Impact Analysis
12.1. Global Medical Cyclotron Market, 2020 – 2030, Pre-V/S Post COVID 19
12.2. Estimated Impact of The Coronavirus (Covid-19) Epidemic on the Medical Cyclotron Market Size In 2022, By Scenario
12.3. Impact on Supply Chain and Production in Medical Cyclotron Market
12.4. Impact on Import and Export
Chapter 13. Import-Export Analysis
13.1. North America Medical Cyclotron Import-Export, 2017 – 2021
13.2. Europe Medical Cyclotron Import-Export, 2017 – 2021
13.3. Asia Pacific Medical Cyclotron Import-Export, 2017 – 2021
13.4. Latin America Medical Cyclotron Import-Export, 2017 – 2021
13.5. Middle East America Medical Cyclotron Import-Export, 2017 – 2021
13.6. Africa Medical Cyclotron Import-Export, 2017 – 2021
Chapter 14. Medical Cyclotron Marketing Channel Analysis
14.1. Marketing Channel
14.1.1. Direct Marketing
14.1.2. Indirect Marketing
14.1.3. Development Trend
14.2. Market Positioning
Chapter 15. Medical Cyclotron Manufacturing Cost Analysis
15.1. Key Raw Materials
15.2. Key Raw Material Suppliers
15.3. Market Concentration Rate
15.4. Manufacturing Cost Structure
15.5. Process Analysis
Chapter 16. Conclusion
Medical Cyclotron Market by Type Outlook (Revenue, USD Million, 2017 – 2030)
- Ring Cyclotron
- Azimuthally Varying Field (AVF) Cyclotron
Medical Cyclotron Market by Product Outlook (Revenue, USD Million, 2017 – 2030)
- Cyclotron 10-12 MeV
- Cyclotron 16-18 MeV
- Cyclotron 19-24 MeV
- Cyclotron 24 MeV and Above
Medical Cyclotron Market by Application Outlook (Revenue, USD Million, 2017 – 2030)
- Diagnostic & Treatment
- Research & Development
- Others
Medical Cyclotron Market by End User Outlook (Revenue, USD Million, 2017 – 2030)
- Hospitals
- Diagnostic Centers
- Commercial Radioisotope Manufacturers
- Research & Academic Institutes