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Global Medical Cyclotron Market Analysis, Size, Share, Forecast: By Type: Ring Cyclotron, Azimuthally Varying Field (AVF) Cyclotron; By Product Type: Cyclotron 10-12 MeV, Cyclotron 16-18 MeV, Cyclotron 19-24 MeV, Others; By Application; By End User; Regional Analysis; Competitive Landscape; Industry Events and Developments; 2023-2031
Global Medical Cyclotron Market Outlook
The growth of the medical cyclotron market size is being driven by the increasing prevalence of cancer, neurological disorders, and cardiac diseases across the globe. The market attained a value of USD 212.83 million in 2022. The market is expected to grow at a CAGR of 9.20% during the forecast period of 2023-2031, likely to attain a value of USD 469.94 million by 2031.
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North America and Asia Pacific to be Significant Regional Markets for Medical Cyclotron
North America is anticipated to dominate the global market of the medical cyclotron. The market growth in the region can be attributed to the ongoing developments in the medical cyclotron systems, growing government support for the production of radio materials, increasing number of product launches, the developed economic condition, and the growing business investments. The United States Department of Energy made an announcement in August 2020 regarding its plans to develop the Lawrence Berkeley National Laboratory (Berkeley Lab) R&D for more effective operations. The laboratory aims to upgrade the particle-beam system for cancer treatment to a compact system and improve the particle-beam performance by using artificial intelligence. It also aims to create a high-power, rapid-fire laser system for tabletop and large-scale applications.
Due to increased investments in healthcare infrastructure, the growing need for cost-effective choices, and the growing number of cancer patients in the region, the medical cyclotron market in the Asia Pacific is predicted to grow significantly.
Market Segmentations
A medical cyclotron refers to a type of particle accelerator that is used to diagnose and treat cancer patients. It uses electromagnetic fields to push charged particles, which produce medically useful radioactive isotopes. These isotopes are also employed in cancer diagnostic and treatment planning techniques, such as positron emission tomography (PET) and single-photon emission computed tomography (SPECT).
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By type, the market is divided into:
- Ring Cyclotron
- Azimuthally Varying Field (AVF) Cyclotron
Based on product type, the market is segmented into:
- Cyclotron 10-12 MeV
- Cyclotron 16-18 MeV
- Cyclotron 19-24 MeV
- Cyclotron 24 MeV and Above
The end-uses of the market are:
- Hospitals
- Diagnostic Centres
- Research and Academic Institutes
- Others
The regional markets for the medical cyclotron market can be divided into North America, Europe, the Asia Pacific, Latin America, the Middle East and Africa.
Increasing Prevalence of Cancer Augmenting the Market Growth
The increasing prevalence of cancer and surging demand for nuclear scans for accurate diagnosis are the key factors stimulating the market's growth. Apart from this, the cost advantage over outsourced radioactive tracers and the availability of technologically advanced diagnostic devices, such as PET and SPECT, are playing a pivotal role in escalating the market growth. Also, due to changing lifestyles, inflating disposable incomes, and increasing awareness about the use of medical cyclotrons in the diagnosis of tumours, there is a rise in the demand for diagnostics treatments with PET scans. This, combined with significant investments in healthcare infrastructure and a growing shift from nuclear reactors toward medical cyclotrons, gives the market a positive outlook. Besides, the increasing number of cancer patients has also added to the demand for nuclear scans for precise diagnosis across the globe. Medical cyclotrons are increasingly being utilised in cardiology, neurology, and oncology in hospitals and diagnostic centres. Furthermore, the leading players are launching technologically advanced diagnostic instruments, which are expected to broaden their entire market reach and benefit global demand for the medical cyclotron.
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Key Players in the Global Market for Medical Cyclotron
The report gives a detailed analysis of the following key players in the global medical cyclotron market, covering their competitive landscape, capacity, and latest developments like mergers, acquisitions, and investments, expansions of capacity, and plant turnarounds:
- Advanced Cyclotron Systems Inc.
- Alcen
- Best Cyclotron Systems, Inc.
- General Electric Company
- IsoSolution Inc.
- Siemens Healthcare Limited
- Others
The comprehensive EMR report provides an in-depth assessment of the market based on the Porter's five forces model along with giving a SWOT analysis.
Key Highlights of the Report
| REPORT FEATURES | DETAILS |
|---|---|
| Base Year | 2022 |
| Historical Period | 2018-2022 |
| Forecast Period | 2023-2031 |
| Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
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| Breakup by Type |
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| Breakup by Product Type |
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| Breakup by Application |
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| Breakup by End User |
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| Breakup by Region |
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| Market Dynamics |
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| Competitive Landscape |
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| Companies Covered |
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| Report Price and Purchase Option | Explore our purchase options that are best suited to your resources and industry needs. |
| Delivery Format | Delivered as an attached PDF and Excel through email, with an option of receiving an editable PPT, according to the purchase option. |
*At Expert Market Research, we strive to always give you current and accurate information. The numbers depicted in the description are indicative and may differ from the actual numbers in the final EMR report.
1 Preface
1.1 Objectives of the Study
1.2 Key Assumptions
1.3 Report Coverage – Key Segmentation and Scope
1.4 Research Methodology
2 Executive Summary
3 Global Medical Cyclotron Market Overview
3.1 Global Medical Cyclotron Market Historical Value (2016-2022)
3.2 Global Medical Cyclotron Market Forecast Value (2023-2031)
4 Global Medical Cyclotron Market Landscape
4.1 Global Medical Cyclotron Developers Landscape
4.1.1 Analysis by Year of Establishment
4.1.2 Analysis by Company Size
4.1.3 Analysis by Region
4.2 Global Medical Cyclotron Product Landscape
4.2.1 Analysis by Type
4.2.2 Analysis by Product Type
4.2.3 Analysis by Applications
4.2.4 Analysis by End User
5 Global Medical Cyclotron Market Dynamics
5.1 Market Drivers and Constraints
5.2 SWOT Analysis
5.3 Porter’s Five Forces Model
5.4 Key Demand Indicators
5.5 Key Price Indicators
5.6 Industry Events, Initiatives, and Trends
5.7 Value Chain Analysis
6 Global Medical Cyclotron Market Segmentation
6.1 Global Medical Cyclotron Market by Type
6.1.1 Market Overview
6.1.2 Ring Cyclotron
6.1.3 Azimuthally Varying Field (AVF) Cyclotron
6.2 Global Medical Cyclotron Market by Product Type
6.2.1 Market Overview
6.2.2 Cyclotron 10-12 MeV
6.2.3 Cyclotron 16-18 MeV
6.2.4 Cyclotron 19-24 MeV
6.2.5 Cyclotron 24 MeV and Above
6.3 Global Medical Cyclotron Market by Application
6.3.1 Market Overview
6.3.2 Diagnostic and Treatment
6.3.3 Research and Development
6.3.4 Others
6.4 Global Medical Cyclotron Market by End User
6.4.1 Market Overview
6.4.2 Hospitals
6.4.3 Diagnostic Centres
6.4.4 Research and Academic Institutes
6.4.5 Others
6.5 Global Medical Cyclotron Market by Region
6.5.1 Market Overview
6.5.2 North America
6.5.3 Europe
6.5.4 Asia Pacific
6.5.5 Latin America
6.5.6 Middle East and Africa
7 North America Medical Cyclotron Market
7.1 Market Share by Country
7.2 United States of America
7.3 Canada
8 Europe Medical Cyclotron Market
8.1 Market Share by Country
8.2 United Kingdom
8.3 Germany
8.4 France
8.5 Italy
8.6 Others
9 Asia Pacific Medical Cyclotron Market
9.1 Market Share by Country
9.2 China
9.3 Japan
9.4 India
9.5 ASEAN
9.6 Australia
9.7 Others
10 Latin America Medical Cyclotron Market
10.1 Market Share by Country
10.2 Brazil
10.3 Argentina
10.4 Mexico
10.5 Others
11 Middle East and Africa Medical Cyclotron Market
11.1 Market Share by Country
11.2 Saudi Arabia
11.3 United Arab Emirates
11.4 Nigeria
11.5 South Africa
11.6 Others
12 Patent Analysis
12.1 Analysis by Type of Patent
12.2 Analysis by Publication year
12.3 Analysis by Issuing Authority
12.4 Analysis by Patent Age
12.5 Analysis by CPC Analysis
12.6 Analysis by Patent Valuation
12.7 Analysis by Key Players
13 Grants Analysis
13.1 Analysis by year
13.2 Analysis by Amount Awarded
13.3 Analysis by Issuing Authority
13.4 Analysis by Grant Application
13.5 Analysis by Funding Institute
13.6 Analysis by NIH Departments
13.7 Analysis by Recipient Organization
14 Funding Analysis
14.1 Analysis by Funding Instances
14.2 Analysis by Type of Funding
14.3 Analysis by Funding Amount
14.4 Analysis by Leading Players
14.5 Analysis by Leading Investors
14.6 Analysis by Geography
15 Partnership and Collaborations Analysis
15.1 Analysis by Partnership Instances
15.2 Analysis by Type of Partnership
15.3 Analysis by Leading Players
15.4 Analysis by Geography
16 Regulatory Framework
16.1 Regulatory Overview
16.1.1 US FDA
16.1.2 EU EMA
16.1.3 INDIA CDSCO
16.1.4 JAPAN PMDA
16.1.5 Others
17 Supplier Landscape
17.1 General Electric Company
17.1.1 Financial Analysis
17.1.2 Product Portfolio
17.1.3 Demographic Reach and Achievements
17.1.4 Mergers and Acquisitions
17.1.5 Certifications
17.2 Advanced Cyclotron Systems Inc.
17.2.1 Financial Analysis
17.2.2 Product Portfolio
17.2.3 Demographic Reach and Achievements
17.2.4 Mergers and Acquisitions
17.2.5 Certifications
17.3 Alcen
17.3.1 Financial Analysis
17.3.2 Product Portfolio
17.3.3 Demographic Reach and Achievements
17.3.4 Mergers and Acquisitions
17.3.5 Certifications
17.4 Best Cyclotron Systems, Inc.
17.4.1 Financial Analysis
17.4.2 Product Portfolio
17.4.3 Demographic Reach and Achievements
17.4.4 Mergers and Acquisitions
17.4.5 Certifications
17.5 IsoSolution Inc.
17.5.1 Financial Analysis
17.5.2 Product Portfolio
17.5.3 Demographic Reach and Achievements
17.5.4 Mergers and Acquisitions
17.5.5 Certifications
17.6 Siemens Healthcare Private Limited
17.6.1 Financial Analysis
17.6.2 Product Portfolio
17.6.3 Demographic Reach and Achievements
17.6.4 Mergers and Acquisitions
17.6.5 Certifications
17.7 UNGER Medizintechnik GmbH & Co.KG
17.7.1 Financial Analysis
17.7.2 Product Portfolio
17.7.3 Demographic Reach and Achievements
17.7.4 Mergers and Acquisitions
17.7.5 Certifications
17.8 Ionetix Corporation
17.8.1 Financial Analysis
17.8.2 Product Portfolio
17.8.3 Demographic Reach and Achievements
17.8.4 Mergers and Acquisitions
17.8.5 Certifications
17.9 IBA Radiopharma Solutions
17.9.1 Financial Analysis
17.9.2 Product Portfolio
17.9.3 Demographic Reach and Achievements
17.9.4 Mergers and Acquisitions
17.9.5 Certifications
17.10 Ebco Industries Ltd.
17.10.1 Financial Analysis
17.10.2 Product Portfolio
17.10.3 Demographic Reach and Achievements
17.10.4 Mergers and Acquisitions
17.10.5 Certifications
17.11 Sumitomo Heavy Industries, Ltd.
17.11.1 Financial Analysis
17.11.2 Product Portfolio
17.11.3 Demographic Reach and Achievements
17.11.4 Mergers and Acquisitions
17.11.5 Certifications
17.12 Varian Medical Systems, Inc.
17.12.1 Financial Analysis
17.12.2 Product Portfolio
17.12.3 Demographic Reach and Achievements
17.12.4 Mergers and Acquisitions
17.12.5 Certifications
18 Global Medical Cyclotron Market - Distribution Model (Additional Insight)
18.1 Overview
18.2 Potential Distributors
18.3 Key Parameters for Distribution Partner Assessment
19 Key Opinion Leaders (KOL) Insights (Additional Insight)
20 Company Competitiveness Analysis (Additional Insight)
20.1 Very Small Companies
20.2 Small Companies
20.3 Mid-Sized Companies
20.4 Large Companies
20.5 Very Large Companies
21 Payment Methods (Additional Insight)
21.1 Government Funded
21.2 Private Insurance
21.3 Out-of-Pocket
*Additional insights provided are customisable as per client requirements.
Key Questions Answered in the Report
In 2022, the global medical cyclotron market attained a value of nearly USD 212.8 million.
The market is projected to grow at a CAGR of 9.20% between 2023 and 2031.
The market is estimated to witness healthy growth in the forecast period of 2023-2031 to reach USD 469.9 million by 2031.
The major drivers of the market include the availability of technologically advanced diagnostic devices, inflating disposable incomes, increasing awareness about the use of medical cyclotrons, investments in healthcare infrastructure, growing shift from nuclear reactors toward medical cyclotrons, and an increasing number of cancer patients.
The increasing prevalence of cancer and the surging demand for nuclear scans for accurate diagnosis are the key industry trends propelling the market's growth.
The major regions in the industry are North America, Latin America, the Middle East and Africa, Europe, and the Asia Pacific.
The different types studied in the market are ring cyclotron and azimuthally varying field (AVF) cyclotron.
Based on product type, the market is segmented into cyclotron 10-12 MeV, cyclotron 16-18 MeV, cyclotron 19-24 MeV, and cyclotron 24 MeV and above.
The end-uses of the market are hospitals, diagnostic centres, and research and academic institutes, among others.
The major players in the industry include Advanced Cyclotron Systems Inc., Alcen, Best Cyclotron Systems, Inc., General Electric Company, IsoSolution Inc., and Siemens Healthcare Limited, among others.
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