According to IMARC Group latest report titled “Medical Cyclotron Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027”, offers a comprehensive analysis of the industry, which comprises insights on medical cyclotron market outlook. The report also includes competitor and regional analysis, and contemporary advancements in the global market. the global medical cyclotron market reached a value of US$ 192.6 Million in 2021. Looking forward, IMARC Group expects the market to reach US$ 323.7 Million by 2027, exhibiting at a CAGR of 9.13% during 2022-2027.
A medical cyclotron represents a type of particle accelerator that is used in the diagnosis and treatment of cancer. It utilizes electromagnetic fields to stimulate charged particles, producing radioactive isotopes for medical drugs. The isotopes are widely used in Positron Emission Tomography (PET) and Single-Photon Emission Computed Tomography (SPECT) for cancer diagnosis and treatment planning. Compared with conventional research reactors that produce radioisotopes, medical cyclotrons generate less hazardous waste. As such, they are widely adopted in hospitals, diagnostic labs, research centers, academic institutes, etc., across the globe.
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Market Trends:
The expanding geriatric population and the rising number of patients who have cancer are primarily driving the medical cyclotron market. In addition to this, the inflating disposable income levels and the increasing consumer awareness towards using medical cyclotrons in diagnosing tumors are further augmenting the market growth. Moreover, the growing investments in the healthcare infrastructures and the shifting consumer preferences towards medical cyclotrons from nuclear variants are also positively influencing the global market. Apart from this, the escalating demand for nuclear scans for accurate diagnosis is acting as another significant growth-inducing factor. Furthermore, the elevating product usage in oncology, neurology, cardiology, etc., is anticipated to bolster the medical cyclotron market over the forecasted period.
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Competitive Landscape with Key players:
The report has also analysed the competitive landscape of the market with some of the key players being.
- Advanced Cyclotron Systems Inc.
- Alcen
- Best Medical International Inc.
- General Electric Company
- IBA RadioPharma Solutions
- Ionetix Corporation
- Isosolution Inc.
- Siemens AG
- Sumitomo Heavy Industries Ltd.
- Varian Medical Systems Inc
Medical Cyclotron Market Segmentation:
Our report has categorized the market based on region, type, product type and end use industry.
Breakup by Type:
- Ring Cyclotron
- Azimuthally Varying Field (AVF) Cyclotron
Breakup by Product Type:
- Cyclotron 10-12 MeV
- Cyclotron 16-18 MeV
- Cyclotron 19-24 MeV
- Cyclotron 24 MeV and Above
Breakup by End User:
- Hospitals
- Diagnostic Centers
- Research and Academic Institutes
- Others
Breakup by Region:
- North America (United States, Canada)
- Europe (Germany, France, United Kingdom, Italy, Spain, Others)
- Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)
- Latin America (Brazil, Mexico, Others)
- Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, Other)
Key highlights of the report:
- Market Performance (2016-2021)
- Market Outlook (2022-2027)
- Porter’s Five Forces Analysis
- Market Drivers and Success Factors
- SWOT Analysis
- Value Chain
- Comprehensive Mapping of the Competitive Landscape
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