Medical Cyclotron Market to Grow by USD 47.8 Million (2024-2028), Driven by Cancer Prevalence, AI’s Role in Shaping Market Landscape – Technavio

NEW YORK, Sept. 30, 2024 /PRNewswire/ — Report with market evolution powered by AI- The global medical cyclotron market size is estimated to grow by USD 47.8 million from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of almost 4.46%  during the forecast period. Rising prevalence of cancer is driving market growth, with a trend towards use of medical cyclotron technology in nuclear medicine. However, high cost and complex operation of medical cyclotrons  poses a challenge. Key market players include ALCEN, Atulaya Healthcare Pvt Ltd, Australian Nuclear Science and Technology, Best Medical International Inc., Ebco Industries Ltd, General Electric Co., Medical Solutions, IBA Radiopharma Solutions, Ion Beam Applications SA, Ionetix Corp, iThemba LABS, RIKEN Nishina Center, Siemens AG, Sumitomo Heavy Industries Ltd., The Japan Steel Works Ltd., Trasis SA, and TRIUMF.

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Market Driver

Medical cyclotrons have significantly impacted the nuclear medicine industry by enabling the production of radioisotopes for use in molecular imaging and therapeutic applications. Over 1,200 cyclotrons are utilized worldwide for neutron irradiation, particle therapy, and other cancer treatments. Nuclear medicine employs gamma rays emitted by radioisotopes, which are produced in cyclotrons. These radioisotopes have shown substantial growth in use over the last decade due to the increasing availability of cyclotrons. Radiopharmaceuticals, derived from these radioisotopes, have been used in medicine for over three decades for diagnostic imaging and therapy. The expanding utilization of nuclear radioisotopes and nuclear medicine increases the demand for medical cyclotrons, consequently fueling the growth of the global medical cyclotron market. 

The Medical Cyclotron Market is experiencing significant growth due to increasing trends in diagnostic imaging for heart disease, gastrointestinal disorders, and endocrine disorders. With an aging and geriatric population, the demand for medical technology for personalized medicine and targeted therapies is on the rise. In the US, over 100 million American adults require diagnostic tools like nuclear scans, radiotherapy, and PET-CT for various chronic diseases. Cyclotrons, particle accelerators producing short-lived radioisotopes, play a crucial role in healthcare technology. They are used in radiopharmaceuticals for theranostics, a combination of diagnosis and therapy, and molecular imaging. Cancer, cardiovascular diseases, neurological disorders, and infectious diseases are major applications. Advancements in AI and ML are enhancing cyclotron capabilities, enabling on-site radioisotope production. Companies like AVF and Ring Cyclotron are leading this innovation. Hospitals and diagnostic centers are investing in these systems for improved patient care and efficient production of radionuclides. The future of nuclear medicine lies in the integration of cyclotron technology with advanced diagnostic tools and therapies. 

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 Market Challenges

• Establishing a medical cyclotron facility involves significant planning and investment. The production of short-lived radionuclides requires complex logistics and a network of regional cyclotrons. Setting up and operating a cyclotron facility entails considerable costs, including supplies, utilities, staff salaries, and maintenance and depreciation. Although cyclotrons are less expensive than nuclear facilities, they are still costly for individual hospitals. The average cost of building a cyclotron facility in Canada is USD3 million, while a PET scanner, a necessary component, costs about USD2 million. Unshielded cyclotrons, preferred by professionals, require a specially constructed concrete vault, increasing setup costs. The high costs and complex operational logistics are expected to limit the growth of the global medical cyclotron market.
• The Medical Cyclotron Market is experiencing significant growth due to the rising prevalence of heart disease, gastrointestinal disorders, endocrine disorders, and other chronic conditions in the aging and geriatric population. The demand for diagnostic imaging, personalized medicine, and targeted therapies is driving the need for medical technology that can produce short-lived radioisotopes on-site. This includes cyclotrons, which are particle accelerators used to produce radioisotopes for diagnostic tools like PET-CT scans, SPECT, and gamma cameras. The integration of AI and ML in cyclotron systems is also increasing efficiency and accuracy. Hospitals and diagnostic centers are investing in these technologies to improve patient care and offer advanced treatments like radionuclide therapy and radiotherapy. The market for cyclotrons, radioisotopes, and radiopharmaceuticals is expected to grow as the demand for nuclear medicine and theranostics continues to rise for the diagnosis and treatment of cancer, cardiovascular diseases, neurological disorders, and infectious diseases.

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Segment Overview 

This medical cyclotron market report extensively covers market segmentation by  

1. Product 

• 1.1 Cyclotron less than 20 MeV
• 1.2 Cyclotron 20-35 MeV
• 1.3 Cyclotron greater than 35 MeV

Geography 

• 2.1 North America
• 2.2 Europe
• 2.3 Asia
• 2.4 Rest of World (ROW)

1.1 Cyclotron less than 20 MeV-  The medical cyclotron market has seen a notable expansion of small medical cyclotrons (SMCs) with less than 20 MeV proton energy over the past decade. Approximately 80% of the 1,220 cyclotrons worldwide fall into this category. These cyclotrons, primarily manufactured by companies like General Electric Co. (GE), IBA, Siemens AG (Siemens), and Ebco Industries Ltd. (Ebco Industries), are installed in hospitals, small-scale industrial radionuclide production plants, and universities. SMCs offer proton beam currents ranging from 60-100 μA and typically accelerate only protons, with some capable of deuterons at half the specified proton energy. These cyclotrons are used for in-house radionuclide production, research, and commercial applications. Gallium-68 (68Ga) and Zirconium-89 (89Zr) are common radionuclides produced by cyclotrons of less than 20 MeV, used extensively in PET imaging studies. Despite concerns regarding commercialization due to chemical, regulatory, pharmaceutical, financial, and technical challenges, the widespread availability and use of these cyclotrons make them the most popular choice for healthcare facilities and research centers. The demand for radioisotopes produced by cyclotrons of less than 20 MeV continues to rise in various medical imaging areas, including nuclear medicine, driving growth in the cyclotron <20 MeV segment of the medical cyclotron market.

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Research Analysis

The Medical Cyclotron Market refers to the global industry dedicated to producing and supplying Cyclotrons, a type of particle accelerator used for the production of Radioisotopes and Radiopharmaceuticals. These technologies are essential for various diagnostic tools and therapeutic applications, including Single Photon Emission Computed Tomography (SPECT), Positron Emission Tomography-Computed Tomography (PET-CT), Gamma cameras, and Theranostics. The market caters to various medical fields, such as Cancer, Chronic diseases, Cardiovascular diseases, Neurological disorders, Infectious diseases, and Diabetes. Cyclotrons are integral to Nuclear scans, Radiotherapy, and Nuclear medicine, which employ Positron Emission Tomography, Diagnostic Imaging Methods, and Artificial Intelligence (AI) and Machine Learning (ML) for enhanced accuracy and efficiency. The market serves Hospitals and Diagnostic centers worldwide. Key applications include the production of essential isotopes like Fluorine-18, Gallium-68, and Rubidium-82, used for cancer diagnosis and treatment, as well as for imaging heart diseases using SPECT and PET-CT.

Market Research Overview

The Medical Cyclotron Market encompasses the production and utilization of Cyclotrons, a type of particle accelerator, for the generation of Radioisotopes used in various applications within the healthcare sector. These Radioisotopes are crucial in the production of Radiopharmaceuticals, which are essential components in Molecular Imaging modalities such as Single Photon Emission Computed Tomography (SPECT) and Positron Emission Tomography-Computed Tomography (PET-CT). The market caters to the diagnostic and therapeutic needs of various chronic diseases, including Cancer, Cardiovascular Disorders (CVD), Neurological disorders, Infectious diseases, Diabetes, Heart disease, and Gastrointestinal disorders. The aging and geriatric population, comprising American adults, significantly contributes to the market’s growth due to the increased prevalence of these diseases. The market also includes the development of personalized medicine, targeted therapies, and on-site radioisotope production using Short-lived radioisotopes. The integration of advanced technologies like Machine Learning (ML), Artificial Intelligence (AI), and Ring Cyclotrons in Cyclotron systems further enhances their utility in healthcare technology, patient care, and diagnostic tools. Radionuclide therapy and Nuclear medicine are other significant applications of Cyclotrons in the healthcare sector.

Table of Contents:

1 Executive Summary

2 Market Landscape

3 Market Sizing

4 Historic Market Size

5 Five Forces Analysis

6 Market Segmentation

• Product
• Cyclotron Less Than 20 MeV
• Cyclotron 20-35 MeV
• Cyclotron Greater Than 35 MeV
• Geography
• North America
• Europe
• Asia
• Rest Of World (ROW)

7 Customer Landscape

8 Geographic Landscape

9 Drivers, Challenges, and Trends

10 Company Landscape

11 Company Analysis

12 Appendix

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

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