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Medical Cyclotron Market Set to Reach USD 188.32 Million by 2032 with 5.5% CAGR | Reports and Data

Reports And Data

Reports And Data

The Medical Cyclotron Market value for was USD 116.31 million in 2022 and is expected to reach USD 188.32 million in 2032 growing at a CAGR of 5.5%.

NEW YORK CITY, NY, UNITED STATES, July 12, 2023/ -- The Medical Cyclotron Market was USD 116.31 million in 2022 and is projected to reach USD 188.32 million by 2032, with a compound annual growth rate (CAGR) of 5.5% during the forecast period. The expansion of the market is primarily driven by the increasing prevalence of cancer and the growing demand for nuclear medicine in diagnosis and treatment. Cyclotrons play a crucial role in synthesizing radioisotopes, which are essential for nuclear medicine used in diagnosing and treating various diseases such as cancer, neurological disorders, and cardiovascular diseases.

Cancer is becoming increasingly prevalent and is a leading cause of death worldwide. According to the World Health Organization (WHO), it was the second leading cause of mortality, with an estimated 9.6 million deaths in 2018. Given the rising incidence of cancer, there is a high demand for nuclear medicine, which plays a vital role in both diagnosing and treating the disease. Cyclotrons are instrumental in producing radioisotopes like F-18, which are widely used in PET-CT imaging for cancer detection and staging.

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Key players in the Medical Cyclotron Market:

• IBA Radiopharma Solutions
• GE Healthcare
• Siemens Healthineers
• Sumitomo Heavy Industries, Ltd.
• Best Cyclotron Systems, Inc.
• Cyclopharma
• Ion Beam Applications SA (IBA)

The growing adoption of personalized treatment, which utilizes targeted therapy based on a patient's genetic profile, also contributes to the increased demand for nuclear medicine. Cyclotrons are essential for producing radioisotopes used in targeted therapies such as peptide receptor radionuclide therapy (PRRT) and alpha therapy, which are employed for treating various types of cancer.

Segments Covered in the Report –

By Type Outlook -

• Fixed
• Mobile

By Application Outlook -

• Oncology
• Neurology
• Cardiology
• Others

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Strategic development:

• GE Healthcare made an announcement in 2021 regarding the expansion of its radiopharmacy network. The purpose of this expansion is to facilitate the advancement of innovative therapies and diagnostics for cancer and other diseases. The company's objective is to establish a global network of cyclotron and radiopharmacy facilities, with the goal of enhancing patient access to radiopharmaceuticals.

• In 2020, Siemens Healthineers completed the acquisition of Varian Medical Systems, a prominent provider of radiation oncology solutions, for a total of $16.4 billion. The primary aim of this acquisition was to broaden Siemens' portfolio of cancer care solutions, which includes medical cyclotrons used for PET imaging.

• IBA Radiopharma Solutions announced the introduction of its latest medical cyclotron, the Cyclone® KIUBE, in 2020. This cyclotron is specifically designed for the production of radiopharmaceuticals used in PET imaging. The Cyclone® KIUBE is a compact and adaptable system capable of generating a wide range of isotopes, including ^18F, ^11C, and ^68Ga.

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