Global Medical Cyclotron Market by Product (19-24 MeV, 16-18 MeV, 10-12 MeV, 24 MeV & Above) and Region (North America, Latin America, Europe, Asia Pacific and Middle East & Africa), Forecast To 2028

Summary of the Report

In 2016, the global market for medical cyclotrons was worth USD 118.2 millions. The market is expected to grow at a CAGR in excess of 10.9 percent over the forecast period. Market growth is driven by the rising incidence of cancer and a growing preference for nuclear scans to provide accurate diagnosis. There are also cost advantages over outsourced radioactive tracers, as well as technologically advanced diagnostic tools.

Radiotherapy is one the most technologically advanced techniques used to diagnose and treat cancerous cells. The World Nuclear Association estimates that around 40 million procedures worldwide are performed each year using nuclear medicine, which has a growth rate of 5% annually.

One-tenth of the population in developed countries is treated with radioisotopes and nuclear medicine. Because of their accuracy, nuclear diagnostics are expected to grow in popularity, which will give rise to a substantial market.

The market is expected to grow with the introduction of PET cyclotrons, and the closure of nuclear reactors like the Tomari nuclear power plant in Japan. These devices are becoming more popular due to technological compatibility and a built-in shield. Market growth is expected to increase due to the increasing acceptance of cyclotrons.

Product Insights

The market can be divided into four segments based on product: 10-12 MeV to 16-18 MeV to 19 -24 MeV to 24 MeV and beyond. The market was dominated by cyclotrons between 16 and 18 MeV, which accounted for over 55.0% of total market revenue in 2016. This segment's growth can be attributed to the rising demand for nuclear scans and the increasing incidence of cancer. A significant share of the market is also held by cyclotrons with a range between 10-12 MeV. They are used in hospitals and diagnostic centers that perform nuclear scans.

The cyclotrons that are in the 10-12 MeV range are smaller than other particle accelerators. There are two options available for healthcare professionals: shielded and unshielded. Dual-particle capability is provided by these devices, which are capable of absorbing dual-target radiations such as a proton beam current between 60 and 130?A or a deuteron beam current 60??A. Asia Pacific is home to the most cyclotrons within the 16-18 MeV range, due to the higher demand for nuclear scans at hospitals and diagnostic centers.

The cost-effective solution for producing PET and SPECT radioisotopes is to use cycltrons with a range of 19-24 MeV. These accelerators can be used to produce large quantities of SPECT radioisotopes such as Ga-67, Ge-68 and I-123. Customers have many research, diagnostic and treatment needs that clotrons between 19-24 MeV are most suitable for. From 2017 to 2025, the 19-24 MeV segment will see the greatest revenue growth.

The demand for medical cyclotrons will rise due to increasing acceptance of PET-associated medical accelerators in the diagnosis and treatment of cancer. The demand for nuclear scans is increasing due to increased awareness of cancer. The global medical cyclotron market is expected to grow due to increased demand for nuclear scans, and an increase in awareness about cancer.

Regional Insights

In 2016, the Asia Pacific region accounted for the largest market share. Due to the increasing demand for nuclear scans, and the growing number of cancer patients, the region will continue to dominate the market throughout the forecast period. The region's market is also growing due to increased investments in healthcare infrastructure, the shutting down of nuclear reactors and the increasing demand for cost-effective solutions.

Japan was the APAC market leader as of 2016. Japan will remain the country's largest revenue contributor, with an estimated 77.0% share by 2025. The availability of radioactive tracer is expected to lead to an increase in nuclear scans throughout the forecast period.

Japan shut down its last nuclear reactor at Tomari's nuclear plant in 2012. This nuclear plant was the main source of radioactive radioactive isotopes that were used in radioactive tracers for medical diagnosis. Japan saw the installation of the most number of particle accelerators, and it is expected to add 49 more accelerators by 2025. The market for medical cyclotrons is expected to grow at 11.6% annually due to the high demand in Asia Pacific.

Over the forecast period, the European market will experience a CAGR in excess of 11.1%. Europe is expected to have the second-largest volume share during the forecast period. Due to high cancer prevalence, rising awareness about nuclear scans, and increasing awareness, the region will continue to be a major market player.

The International Atomic Energy Agency is an international regulatory body that allows the installation of particle accelerators. The IAEA has strict regulations that must be followed when installing these devices in any European nation. These clearly defined regulatory guidelines are important to ensure patient safety around radioactive devices.

Market Share Insights & Key Companies

Few key players dominate the market, including IBA, GE Healthcare, Siemens Medical Solutions USA, Inc., Advanced Cyclotron Systems, Sumitomo Heavy Industries, Ltd., and TeamBest (Best Medical International, Inc.).

Due to the oligopoly of the market, there is fierce competition between existing players. Manufacturers are faced with high market entry barriers, strict regulatory compliance, and higher manufacturing costs. There are very few companies that have a greater market share than others. TeamBest, however, is working on an innovative product that has a 400 MeV power limit for particle therapy with heavy Ions. This will allow for more precise diagnosis and treatment.

Medical Cyclotron Market Report Scope

The Report Covers Certain Segments

This report forecasts revenue growth at the global, regional and country level. It also provides analysis of industry trends for each sub-segment from 2014 through 2025. Grand View Research has divided the global market for medical cyclotrons based on product type, region, and geography.

• Product Type Outlook (Revenue in USD Millions, Volume Units, 2014-2025)

  • Cyclotron 10-12 MeV

  • Cyclotron 16-18 MeV

  • Cyclotron 19-24 MeV

  • Cyclotron 24 MeV & above

• Regional Outlook (Revenue USD Million, Volume Units 2014-2025)

  • North America

    • The U.S.

    • Canada

  • Europe

    • Germany

    • U.K.

  • Asia Pacific

    • Japan

    • Australia

  • Latin America

    • Brazil

    • Mexico

  • Middle East & Africa

    • South Africa

These are the most frequently asked questions about this report

b. Global market for medical cyclotrons was valued at USD 151.9 Million in 2019, and is forecast to grow to USD 169.8 Million in 2020.

b. Global medical cyclotron markets are expected to expand at a compound annual rate of 11.0% between 2019 and 2025, reaching USD 284.3 million in 2025.

b. With a 52.9% share in 2019, Cyclotron 16-18 MEV dominated medical cyclotron markets. This can be attributed to the rising demand for nuclear scans and increasing cancer awareness.

b. IBA, GE Healthcare, Siemens Medical Solutions USA, Inc., Advanced Cyclotron Systems, Sumitomo heavy Industries, Ltd., and TeamBest (Best Medical International, Inc.) are some of the key players in the medical cyclotron market.

b. The key factors driving market growth in the medical cyclotron industry include increasing cancer prevalence, increasing interest in nuclear scans to accurately diagnose the disease, and the availability of advanced diagnostic tools.

Up Market Research published a new report titled “Medical Cyclotron Market research report which is segmented by Product (19-24 MeV, 16-18 MeV, 10-12 MeV, 24 MeV & Above), By Players/Companies Inc; Advanced Cyclotron Systems; Sumitomo Heavy Industries, Inc), IBA; GE Healthcare; Siemens Medical Solutions USA, Ltd; and TeamBest (Best Medical International”. As per the study the market is expected to grow at a CAGR of XX% in the forecast period.

The report covers comprehensive data on emerging trends, market drivers, growth opportunities, and restraints that can change the market dynamics of the industry. It provides an in-depth analysis of the market segments which include products, applications, and competitor analysis.

Global Medical Cyclotron Market Report Segments:

The market is segmented by Product (19-24 MeV, 16-18 MeV, 10-12 MeV, 24 MeV & Above).

Medical Cyclotron Market research report delivers a close watch on leading competitors with strategic analysis, micro and macro market trend and scenarios, pricing analysis and a holistic overview of the market situations in the forecast period. It is a professional and a detailed report focusing on primary and secondary drivers, market share, leading segments and geographical analysis. Further, key players, major collaborations, merger & acquisitions along with trending innovation and business policies are reviewed in the report.

Key Benefits for Industry Participants & Stakeholders:

• Industry drivers, restraints, and opportunities covered in the study
• Neutral perspective on the market performance
• Recent industry trends and developments
• Competitive landscape & strategies of key players
• Potential & niche segments and regions exhibiting promising growth covered
• Historical, current, and projected market size, in terms of value
• In-depth analysis of the Medical Cyclotron Market

Overview of the regional outlook of the Medical Cyclotron Market:

Based on region, the market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & Africa (MEA). North America region is further bifurcated into countries such as U.S., and Canada. The Europe region is further categorized into U.K., France, Germany, Italy, Spain, Russia, and Rest of Europe. Asia Pacific is further segmented into China, Japan, South Korea, India, Australia, South East Asia, and Rest of Asia Pacific. Latin America region is further segmented into Brazil, Mexico, and Rest of Latin America, and the MEA region is further divided into GCC, Turkey, South Africa, and Rest of MEA.

Highlights of The Medical Cyclotron Market Report:

1. The market structure and projections for the coming years.
2. Drivers, restraints, opportunities, and current trends of Medical Cyclotron Market.
3. Historical data and forecast.
4. Estimations for the forecast period 2028.
5. Developments and trends in the market.

                1. 19-24 MeV

                2. 16-18 MeV

                3. 10-12 MeV

                4. 24 MeV & Above

7. Market scenario by region, sub-region, and country.
8. Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
9. Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
10. Government Policies, Macro & Micro economic factors are also included in the report.

We have studied the Medical Cyclotron Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2028.

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Reasons to Purchase the Medical Cyclotron Market Report:

• The report includes a plethora of information such as market dynamics scenario and opportunities during the forecast period
• Segments and sub-segments include quantitative, qualitative, value (USD Million,) and volume (Units Million) data.
• Regional, sub-regional, and country level data includes the demand and supply forces along with their influence on the market.
• The competitive landscape comprises share of key players, new developments, and strategies in the last three years.
• Comprehensive companies offering products, relevant financial information, recent developments, SWOT analysis, and strategies by these players.