According to the latest report of the IMARC group titled “Medical Cyclotron Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027”, offers a comprehensive analysis of the industry, which includes information on Medical Cyclotron Industry Report. The report also includes competitor and regional analysis, as well as contemporary advancements in the global market. the global market for medical cyclotrons reached a value of US$192.6 million in 2021. Looking ahead, IMARC Group expects the market to reach US$323.7 million by 2027, growing at a CAGR of 9.13% during the period 2022-2027.
A medical cyclotron refers to a type of particle accelerator used in the diagnosis and treatment of cancer. It uses electromagnetic fields to propel charged particles, which produce radioactive isotopes for medicine. These isotopes are then used in positron emission tomography (PET) and single photon emission tomography (SPECT) for cancer diagnosis and treatment planning. Compared to research reactors that produce radioisotopes, medical cyclotrons generate less hazardous waste.
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As the novel coronavirus (COVID-19) crisis engulfs the world, we are continuously monitoring changes in markets, as well as consumer buying behaviors around the world and our estimates on the latest market trends and forecasts are made after taking into account the impact of this pandemic.
The growing geriatric population, which is more prone to developing cancer, is primarily driving the medical cyclotron market. Additionally, changing lifestyles, inflation in disposable incomes, and rising consumer awareness for the use of medical cyclotrons for tumor diagnosis are also propelling the market growth. Additionally, increasing investment in healthcare infrastructure and shifting consumer inclination towards medical cyclotrons instead of nuclear reactors are acting as other growth factors. Additionally, increasing number of cancer cases and growing demand for nuclear analysis for accurate diagnosis is further increasing the growth of the market. Additionally, the growing use of the products in oncology, neurology, cardiology, etc., will continue to propel the medical cyclotron market in the coming years.
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Competitive landscape with key players:
The report has also analyzed the competitive landscape of the market with some of the key players.
- Advanced Cyclotron Systems Inc.
- Best Medical International Inc.
- General electricity 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.
Breakdown by type:
- Cyclotron Ring
- Azimuthal Variable-Field (AVF) Cyclotron
Breakdown by product type:
- Cyclotron 10-12 MeV
- Cyclotron 16-18 MeV
- Cyclotron 19-24 MeV
- Cyclotron 24 MeV and above
Breakdown by end user:
- Diagnostic centers
- Research institutes and universities
Breakdown by region:
- North America (USA, 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, Others)
Main 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
- Complete mapping of the competitive landscape
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