Medical Cyclotron Market Size To Reach $477.9 Million By 2030

Medical Cyclotron Market Growth & Trends

The global medical cyclotron market size is expected to reach USD 477.9 million by 2030, according to a new report by Grand View Research, Inc., registering a CAGR of 11.0% during the forecast period. Increasing prevalence of cancer and surging demand for nuclear scans for accurate diagnosis are among the key factors stimulating the growth of the market. Apart from this, cost advantage over outsourced radioactive tracers and availability of technologically advanced diagnostic devices such as PET and SPECT are playing a pivotal role to escalate market growth.

Cancer is becoming the global pandemic as it causes one in eight deaths worldwide. According to the International Agency for Research on Cancer (IARC), in 2012, there were about 14.1 million new cancer cases and 8.2 million deaths due to cancer. With continuous increase in the incidence of chronic diseases, the number of new cancer cases is anticipated to reach 21.7 million and result in 13 million deaths by 2030. Due to mounting cases of cancer, the need for accurate diagnostics is increasing, which is estimated to fuel the demand for medical cyclotrons.

Nuclear scans for diagnosis use a smaller amount of radioactive material. Nuclear tracers help to find the exact location of growing tumors. Technetium-99m (Tc-99m), strontium, thallium, gallium, and radioactive iodine are some of the radioactive materials used in diagnosis and treatment of tumor. Increase in acceptability of particle accelerators for manufacturing tracer material is projected to trigger the growth of the market over the forecast period.

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Medical Cyclotron Market Report Highlights

• Asia Pacific held the leading share of about 50.0% in 2022, due to spiraling demand for nuclear scans, rising cancer prevalence, and increasing demand for cost-effective diagnosis.

• Middle East & Africa is expected to grow at the fastest CAGR of 16.7% during the forecast period.

• The cyclotron 19-24 MeV segment is expected to grow at the fastest CAGR of 12.1 % over the forecast period of 2023 - 2030.

Medical Cyclotron Market Segmentation

Grand View Research has segmented the global medical cyclotron market on the basis of product types and region:

Medical Cyclotron Product Outlook (Revenue in USD Million, 2018 - 2030)

• Cyclotron 10-12MeV

• Cyclotron 16-18MeV

• Cyclotron 19-24MeV

• Cyclotron above 24MeV

Medical Cyclotron Regional Outlook (Revenue in USD Million, 2018 - 2030)

• North America

  • U.S.

  • Canada

• Europe

  • UK

  • Germany

  • France

  • Italy

  • Spain

  • Sweden

  • Norway

  • Denmark

• Asia Pacific

  • China

  • Japan

  • India

  • Australia

  • Thailand

  • South Korea

• Latin America

  • Brazil

  • Mexico

  • Argentina

• Middle East and Africa

  • Saudi Arabia

  • South Africa

  • UAE

  • Kuwait

List Of Key Players in the Medical Cyclotron Market

• Siemens Medical Solutions USA, Inc

• IBA Radiopharma Solutions

• GE HealthCare

• Advanced Cyclotron Systems, Inc

• TeamBest

• Sumitomo Heavy Industries, Ltd