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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 232.41 million in 2023. The market is expected to grow at a CAGR of 9.2% during the forecast period of 2024-2032, likely to attain a value of USD 513.17 million by 2032.
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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.
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:
Based on product type, the market is segmented into:
The end-uses of the market are:
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.
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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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:
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.
| REPORT FEATURES | DETAILS |
| Base Year | 2023 |
| Historical Period | 2017-2023 |
| Forecast Period | 2024-2032 |
| 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 Region |
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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. |
*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.*
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In 2023, the global medical cyclotron market attained a value of nearly USD 232.41 million.
The market is projected to grow at a CAGR of 9.2% between 2024 and 2032.
The market is estimated to witness healthy growth in the forecast period of 2024-2032 to reach USD 513.17 million by 2032.
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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+1-415-325-5166
Vietnam
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+84865399124
United States (Head Office)
30 North Gould Street, Sheridan, WY 82801
+1-415-325-5166
Australia
63 Fiona Drive, Tamworth, NSW
+61 448 06 17 27
India
C130 Sector 2 Noida, Uttar Pradesh 201301
+91-858-608-1494
Philippines
40th Floor, PBCom Tower, 6795 Ayala Avenue Cor V.A Rufino St. Makati City, 1226.
+63 287899028, +63 967 048 3306
United Kingdom
6 Gardner Place, Becketts Close, Feltham TW14 0BX, Greater London
+44-753-713-2163
Vietnam
193/26/4 St.no.6, Ward Binh Hung Hoa, Binh Tan District, Ho Chi Minh City
+84865399124
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