The global cyclotron market size is expected to reach USD 359.8 Million in 2030 and register a revenue CAGR of 5.1% during the forecast period, according to a latest report by Reports and Data. Rapid technological advancements in diagnosis and treatment of cancer is a key factor driving market revenue growth during the forecast period. In addition, increasing investments in research of nuclear medicine is further expected to drive market growth between 2022 and 2030.
Rapid technological advancements in diagnosis and treatment of cancer and increasing investments in research of nuclear medicine are driving growth of the market significantly during the forecast period. Technological innovations have led to numerous breakthroughs in diagnosis and treatment of cancer. Multiple studies have suggested potential of targeted radiation therapy at cellular level to reduce risk of both short term and long term side effects of cancer treatment, while at the same time killing cancerous cells in body. Researchers are currently testing radiopharmaceuticals for various types of cancers such as melanoma, lung cancer, colorectal cancer, and leukemia. Any tumor with a targetable molecule on surface of its cells and a good blood supply is sufficient to deliver drugs and can be treated with radiopharmaceuticals.
In addition, nuclear imaging tests, such as Positron Emission Tomography (PET), use weak radioactive compounds linked to molecules to bind to specific targets on surface of cancer cells, following which specialized cameras enable them to visualize cancer cells and thereby help doctors to measure spread of cancer. This is expected to contribute to revenue growth of the market.
However, stringent regulations on radiopharmaceuticals and stringent regulatory guidelines for installing cyclotron are expected to hamper growth of the market. There has been a significant delay in drug-approval processes by government authorities for radiopharmaceuticals due to stringent regulations on radiopharmaceuticals. In addition, cyclotrons may cause activation of other metals and leave residual radioactivity, therefore research facilities must strictly adhere to regulations of governmentauthorities.
Some Key Highlights in the Report
- The industrial segment is expected to expand at a rapid CAGR over the forecast period. Rising demand for cyclotrons to conduct studies in the field of nuclear physics and particle physics is expected to propel revenue growth of this segment.
- The 16-18 MeV segment is expected to account for largest revenue share during the forecast period. Rising demand of radioisotopes for preparing radiopharmaceuticals as well as nuclear imaging is expected to drive growth of this segment.
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- The Europe cyclotron market is expected to account for largest revenue share in the global market over the forecast period. Increasing investments in academic research and rising private-academia collaborations are expected to contribute to revenue growth.
- Companies profiled in the global market report include GE Healthcare (General Electric Company), IBA Radiopharma Solutions, Sumitomo Heavy Industries, Ltd., Advanced Cyclotron Systems, Inc., Siemens Healthcare GmbH, BV Cyclotron VU, Varian Medical Systems, Inc., Ionetix Corporation, CNMC Company Inc., and PMB Alcen
- In October 2021, Sumitomo Heavy Industries, Ltd. conducted proton beam acceleration tests on its in-house superconducting cyclotron for next-generation proton therapy system, which is under development and had verified generation of a high-intensity proton beam of 1,000 nA. This development of superconducting cyclotron is a significant step toward the next-generation proton therapy system.
For the purpose of this report, Reports and Data has segmented the global cyclotron market based on application, product, and region:
- Application Outlook (Revenue, USD Million; 2019-2030)
- Product Outlook (Revenue, USD Million; 2019-2030)
- 10-12 MeV
- 16-18 MeV
- 19-24 MeV
- 24 MeV and Above
- Regional Outlook (Revenue, USD Million; 2019-2030)
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of APAC
- Latin America
- Rest of LATAM
- Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of Middle East & Africa
- North America
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