Global Medical Cyclotron Market report from Global Insight Services is the single authoritative source of intelligence on Medical Cyclotron Market. The report will provide you with analysis of impact of latest market disruptions such as Russia-Ukraine war and Covid-19 on the market. Report provides qualitative analysis of the market using various frameworks such as Porters’ and PESTLE analysis. Report includes in-depth segmentation and market size data by categories, product types, applications, and geographies. Report also includes comprehensive analysis of key issues, trends and drivers, restraints and challenges, competitive landscape, as well as recent events such as M&A activities in the market.
The medical cyclotron market was valued at USD 205.3 million in 2021 and it is anticipated to grow further till USD 562.4 million by 2031, at a CAGR of 10.6% during the forecast period.
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A particular kind of particle accelerator used in the detection and treatment of cancer is called a medical cyclotron. Charged particles are propelled by electromagnetic fields, creating radioactive isotopes that can be used to make medicines. Additional applications for these isotopes include positron emission tomography (PET) and single-photon emission computed tomography (SPECT) for the detection and planning of cancer. Medical cyclotrons generate less hazardous waste than radioisotope-producing research reactors.
Market Trends and Drivers
medical imaging is driving up demand for cyclotron systems, and these systems may be used for various diagnostic procedures. Medical cyclotrons are more in demand as a result of the electrically driven device’s ability to produce a beam of charge that is primarily employed in industrial, research, and medical procedures. Except for the negative charge, the hybrid atom that makes up water is held in the new cyclotron machine. The radioactive new element created by the collision of positive ions and neutrons is employed as a treatment in medical research, driving demand for medical cyclotrons.
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Global Medical Cyclotron Market by End User
Based on the end user, it is segmented into hospitals, specialized clinics, and pharmaceutical companies. The hospital segment is anticipated to dominate the market during the forecast period. The increasing prevalence of cancer and growing inclination towards nuclear scans for accurate diagnosis is boosting the growth of the market.
Region-wise, it is studied across the North America, Europe, Asia Pacific, and the Rest of the World. The North American region is anticipated to dominate the market during the forecast period. Due to the rising demand for nuclear scans and the growing population of cancer patients, the area is predicted to continue to dominate during the projection period. The closure of nuclear reactors, rising investments in healthcare facilities, and rising consumer demand for affordable solutions are also helping the regional industry expand.
Major Players in the Global Medical Cyclotron Market
The key players studied in the report are IBA Radiopharma Solutions, Advanced Cyclotron Systems, Best Cyclotron Systems, Inc., Best ABT Molecular Imaging, Inc., Siemens Healthineers, GE Healthcare, IONETIX Corporation, PMB-ALCEN, Sumitomo Heavy Industries, Ltd., and The Japan Steel Works, Ltd. among others.
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COVID-19 Impact
The market share and demand for medical cyclotrons both benefited from COVID-19. Medical cyclotron technology is being used to estimate the frequency of the novel coronavirus (COVID-19), which is estimated to range from 30 kHz to 500 kHz. Companies in the medical cyclotron market are taking part in research projects in an effort to develop antiviral drugs that are thought to lessen the detrimental effects of the virus. Companies are placing more attention on genome sequencing to create COVID-19 medicines in order to increase the sales of medical cyclotrons.
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