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  • Published On : Feb 2022
  • Code : CMI2039
  • Industry : Medical Devices
  • Pages : 167
  • Formats :

A cyclotron is machine used to make relatively short lived radioactive atoms, which can be used for medical imaging and research application. Therefore, a medical cyclotron can also be termed as an isotope-producing machine.

These isotopes are further combined with chemical compounds (mostly glucose) to create injectable radioactive tracers that are used in Positron Emission Tomography (PET) scans and other diagnostic techniques. A PET scan involves injecting a radioactive tracer into the patient’s body. Radiologists utilize PET imaging techniques to detect the presence of radioactive tracer at specific sites in the body. Cancerous cells use the isotope with glucose as a source of energy when a PET scan is used in cancer diagnostics. Fast-growing cancer cells appear as a glow in images taken by the PET scan thereby confirming the presence of cancerous cells at the affected site.

Radioactive isotopes have a short half-life (e.g. Flourine-18 has a half-life of about 110 minutes) that results in immediate decay after their production. Therefore, many research and large diagnostic facilities possess assembled in-house medical cyclotrons to produce radioactive isotopes for various medical applications.

The global medical cyclotron market is estimated to be valued at US$ 212.0 million in 2021 and expected to exhibit a CAGR of 8.3% over the forecast period (2021-2028).

Figure 1. Global Medical Cyclotron Market Share (%) in Terms of Value, By Region, 2021

Medical Cyclotron  | Coherent Market Insights

The rising incidence and prevalence of chronic diseases such as cancer and others are expected to aid in the growth of the global medical cyclotron market.

For instance, according to the Global Cancer Observatory data, over 19 million people across the globe suffered from cancer in 2020. The report also estimated that the risk of developing cancer before the age of 75 years was around 20.4%.

According to the publication by the ASCO Post in June 2021, every year, there are around 50,000 new cases of cancer in Morocco, causing around 13.4% of deaths in the country. According to the same source, the most common type of tumor, regardless of gender, is breast cancer which accounts for 20% of cases while lung cancer (11.4%) is in the second place, followed by colon cancer (6.7%).

According to an article published by the National Centers for Biotechnology Information in July 2020, there is an increasing prevalence of ischemic heart disease across the globe, as it affects 1,655 per 100,000 individuals, which may rise up to 1,845 per 100,000 individuals by 2030.

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Medical Cyclotron Market Report Coverage

Report Coverage Details
Base Year: 2020 Market Size in 2021: US$ 212.0 Mn
Historical Data for: 2017 to 2020 Forecast Period: 2021 to 2028
Forecast Period 2021 to 2028 CAGR: 8.3% 2028 Value Projection: US$ 371.2 Mn
Geographies covered:
  • North America: U.S. and Canada
  • Latin America: Brazil, Argentina, Mexico, and Rest of Latin America
  • Europe: Germany, U.K., Spain, France, Italy, Russia, and Rest of Europe
  • Asia Pacific: China, India, Japan, Australia, South Korea, ASEAN, and Rest of Asia Pacific
  • Middle East: GCC Countries, Israel, and Rest of Middle East
  • Africa: South Africa, North Africa, and Central Africa
Segments covered:
  • By Product Type: Fixed Energy Cyclotron, Variable Energy Cyclotron (10-30 MeV, 30 -70 MeV)
  • By Application: Diagnostic and Treatment, Research and Development
  • By End User: Hospitals, Diagnostic Centers, Commercial Radioisotope Manufacturers, Research and Academic Institutes
Companies covered:

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.

Growth Drivers:
  • Growing incidence and prevalence of chronic diseases such as cancer and others
  • Strong focus of market players on strategic collaborations, partnerships, etc.
Restraints & Challenges:
  • Limitations related to the use of cyclotrons for the production of novel radioisotopes

Figure 2. Global Medical Cyclotron Market Share (%), by Product Type, 2021

Medical Cyclotron  | Coherent Market Insights

Global Medical Cyclotron Market: Restraint

Limitations related to the use of cyclotron for the production of novel radioisotopes are expected to act as a restraint for the global medical cyclotron market over the forecast period.

For instance, according to a review article published by the EJNMMI Radiopharmacy and Chemistry journal in February 2018, solid targets are often used for the production of novel radioisotopes in a cyclotron and the usage of these solid targets is associated with a number of limitations. These limitations include: The target materials required for the production of novel radioisotopes with high purity are often expensive

Since the heat conductivity is low in solid targets, overheating problems are incurred during the process of radioisotope production. Hence, an efficient cooling system is required to prevent the solid target from melting.

Solid target materials require more complex chemical separation methods and recycling steps as compared to liquid or gas targets

High risk of exposure to radiation in the usage of solid targets as more manual handling is required during the process of radioisotope production

Key Players

Major players operating in the global medical cyclotron market include 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.

Medical cyclotron is a type of particle accelerator used in the diagnosis and treatment of chronic diseases such as cancer, cardiovascular disease, and others. Cyclotron comprises a magnet and high electrical voltage which accelerates charged particles in a spiral motion. The particles collide with a target to produce radioactive isotopes due to nuclear reactions.

Key players are focused on launching advanced and reliable medical cyclotron products to expand their market share.

For instance, in 2016, IBA Radiopharma Solutions, a global medical technology company has launched –Cyclone KIUBE—at the 2016 Society of Nuclear Medicine and Molecular Imaging (SNMMI) annual meeting in San Diego, U.S. It is an 18 MeV fixed energy cyclotron with a compact design and is cost-effective as it enables the production of almost all possible radioisotopes used currently in Positron Emission Tomography (PET) scan diagnostics.

Market Dynamics

The global medical cyclotron market is expected to witness significant growth over the forecast period, owing to the strong focus of market players on establishing strategic collaborations, partnerships, etc. to expand their presence globally.

For instance, in October 2019, IBA Radiopharma Solutions, a Belgium-based medical technology company, announced a collaboration with Azrieli Centre for Neuro-Radiochemistry at the Centre for Addiction and Mental Health (CAMH), a Canada-based mental health hospital and research center, in order to promote research and development in the field of nuclear medicine. Under this collaboration, cyclotron and radiosynthesizer platform offered by IBA Radiopharma Solutions will be used for research purposes by Azrieli Centre for Neuro-Radiochemistry.

Key features of the study:

  • This report provides an in-depth analysis of the global medical cyclotron market, market size (US$ Mn) and compound annual growth rate (CAGR%) for the forecast period (2021–2028), considering 2020 as the base year
  • It elucidates potential revenue opportunities across different segments and explains attractive investment proposition matrices for this market
  • This study also provides key insights about market drivers, restraints, opportunities, new product launches or approval, market trends, regional outlook, and competitive strategies adopted by key players
  • It profiles key players in the global medical cyclotron market based on the following parameters – company highlights, products portfolio, key highlights, financial performance, and strategies
  • Key companies covered as a part of this study include 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.
  • Insights from this report would allow marketers and the management authorities of the companies to make informed decisions regarding their future product launches, type up-gradation, market expansion, and marketing tactics
  • The global medical cyclotron market report caters to various stakeholders in this industry including investors, suppliers, product manufacturers, distributors, new entrants, and financial analysts
  • Stakeholders would have ease in decision-making through various strategy matrices used in analyzing the global medical cyclotron market

Detailed Segmentation:

  • Global Medical Cyclotron Market, By Product Type:
    • Fixed Energy Cyclotron
    • Variable Energy Cyclotron
      • 10-30 MeV
      • 30 -70 MeV
  • Global Medical Cyclotron Market, By Application:
    • Diagnostic and Treatment
    • Research and Development
  • Global Medical Cyclotron Market, By End User:
    • Hospitals
    • Diagnostic Centers
    • Commercial Radioisotope Manufacturers
    • Research and Academic Institutes
  • Global Medical Cyclotron Market, By Region:
    • North America
      • By Country
        • U.S.
        • Canada
    • Latin America
      • By Country
        • Brazil
        • Mexico
        • Argentina
        • Rest of Latin America
    • Europe
      • By Country
        • Germany
        • U.K.
        • France
        • Italy
        • Spain
        • Russia
        • Rest of Europe
    • Asia Pacific
      • By Country
        • China
        • India
        • Japan
        • Australia
        • South Korea
        • ASEAN
        • Rest of Asia Pacific
    • Middle East
      • By Country
        • GCC
        • Israel
        • Rest of Middle East
    • Africa
      • By Country/Region
        • South Africa
        • Central Africa
        • North Africa
  • Company Profiles
    • IBA Radiopharma Solutions*
      • Company Overview
      • Product Portfolio
      • Financial Overview
      • Key Highlights
      • Market Strategies
    • Advanced Cyclotron Systems
    • Best Cyclotron Systems, Inc.
    • Best ABT Molecular Imaging, Inc.
    • Siemens Healthineers
    • GE Healthcare
    • IONETIX Corporation
    • PMB-ALCEN
    • Sumitomo Heavy Industries, Ltd.
    • The Japan Steel Works, Ltd.

“*” marked represents similar segmentation in other categories in the respective section.

Frequently Asked Questions

The global medical cyclotron market size is estimated to be valued at US$ 212.0 million in 2021 and expected to exhibit a CAGR of 8.3% between 2021 and 2028.
The growing incidence and prevalence of chronic diseases such as cancer and others is expected to drive the market growth over the forecast period.
Fixed energy cyclotron is expected to hold the major market share, owing to increasing product approvals and launches during the forecast period.
North America holds the largest market share in the market.
Major factors hampering the market growth include limitations related to the use of cyclotrons for the production of novel radioisotopes.
Major players operating in the market include 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.

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