Medical cyclotrons market

Medical Cyclotron Market, by Product Type (Fixed Energy Cyclotron and Variable Energy Cyclotron (10-30 MeV and 30-70 MeV)), by Application (Diagnostic and Treatment and Research and Development), by End User (Hospitals, Diagnostic Centers, Commercial Radioisotope Manufacturers, and Research and Academic Institutes) and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) - Size, Share, Outlook, and Opportunity Analysis, 2022 - 2028

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Feb 2022
CMI2039
167 Pages
Excel & Pdf
Medical Devices

Summary

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

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.

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

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.

Table of Content

*Browse 35 market data tables and 30 figures on "Medical Cyclotron Market” - Global forecast to 2028

Segmentation

Detailed Segmentation:

- Frequently Asked Questions -

What is the current market size and compound annual growth rate (CAGR) of the global medical cyclotron market during the forecast period (2021-2028)?

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.

What are the major factors driving the market growth?

The growing incidence and prevalence of chronic diseases such as cancer and others is expected to drive the market growth over the forecast period.

Which is the leading product type in the market?

Fixed energy cyclotron is expected to hold the major market share, owing to increasing product approvals and launches during the forecast period.

Which region holds the largest market share in the market?

North America holds the largest market share in the market.

What are the key factors hampering the growth of the market?

Major factors hampering the market growth include limitations related to the use of cyclotrons for the production of novel radioisotopes.

Which are the major players operating in the market?

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.