Medical Cyclotron Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Type [Ring Cyclotron, and Azimuthally Varying Field (AVF)], Capacity (10-12 MeV, 16-18 MeV, 19-24 MeV, and 24 MeV and Above), and End User (Hospitals, Specialized Clinics,

Medical Cyclotron Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Type [Ring Cyclotron, and Azimuthally Varying Field (AVF)], Capacity (10-12 MeV, 16-18 MeV, 19-24 MeV, and 24 MeV and Above), and End User (Hospitals, Specialized Clinics, Pharmaceutical Companies, and Other End Users)

The global medical cyclotron market is expected to grow from US$ 202.34 million in 2022 to US$ 332.49 million by 2028; it is estimated to grow at a CAGR of 8.6% from 2022 to 2028.

The rising research and development activities in radiology for the development of cancer therapeutics and diagnostics for cancer, cardiovascular diseases, and other conditions are contributing to the growth of the medical cyclotron market. However, the high cost of procedures and lack of expertise are restricting the growth of the medical cyclotron market.

Cyclotron therapy is commonly used to treat several types of cancer. The prevalence of cancer is increasing every year. Proton beam therapy is used to treat tumors that do not spread in the body and, thus, do not require brain surgery. The procedure is suitable for children as it prevents harm to healthy, growing tissues.

Furthermore, it is used to treat eye cancers such as orbital rhabdomyosarcoma and retinoblastoma. Radiotherapy is a scientifically sophisticated way to diagnose and treat cancer. According to the National Cancer Institute, the US government spent US$ 208.9 billion on cancer treatment in 2020 The increase in the development of artificial radionuclides, the surge in the number of therapies, and the rise in the prevalence of cancer are driving the growth of medical cyclotron market.

Based on type, the medical cyclotron market is segmented into ring cyclotron and azimuthally varying fields (AVF). The ring cyclotron segment to hold the largest share of the market in 2022. The same segment is estimated to register the highest CAGR during 2022–2028. Cyclotron therapy is commonly used to treat several types of cancer. The prevalence of cancer is increasing every year. Proton beam therapy is used to treat tumors that do not spread in the body and, thus, do not require brain surgery. The procedure is suitable for children as it prevents harm to healthy, growing tissues. Ring cyclotron is used for proton therapy; it utilizes high-energy beams of accelerated protons to treat cancer. A ring cyclotron is used for proton therapy and is designed with a CC-18/9 cyclotron used as an injector. As the ring cyclotron delivers high-intensity radiation, it targets only cancer cells and does not hamper non-cancerous cells. It takes nearly 10 to 20 microseconds for the acceleration of proton therapy. Thus, it helps control the beam by turning and switching off for low energy and the end of the therapy session. Proton therapy targets only cancerous cells and maintains the biological property of other cells. Therefore, it is expected to increase the demand for ring cyclotrons in medical applications. Also, the growing incidence of cancer worldwide is likely to influence the market's growth during the forecast period.

The comparative company analysis evaluates and categorizes the medical cyclotron market based on product portfolio (product satisfaction, product features, and availability), recent market developments (merger & acquisition, new product launch & enhancement, investment & funding, award, agreement, collaboration, & partnership, recognition, and expansion) and geographic presence that aids businesses in better decision making and understanding the competitive landscape. The report profoundly explores the recent significant developments by the leading vendors and innovation profiles in the global medical cyclotron market, including General Electric Company; Best ABT Molecular Imaging, Inc.; IBA; Sumitomo Heavy Industries, Ltd.; Siemens AG; Advanced Cyclotron Systems; ISOSOLUTION; ALCEN; IONETIX Corporation; and Best Cyclotron System, Inc.

The key company initiating a distinct growth strategy will have a high potential to grow the global medical cyclotron market. The above data signifies the recent development activities and the presence of robust companies in their respective field. Competitive growth strategies in terms of markets help the vendor define an alignment or fit between their capabilities and opportunities for future growth prospects. It represents continuous merger and acquisition strategy, geographical expansion, research and development, and optimal or advantageous suitability for adopting new product launch strategies for further business expansion and growth during the forecast period. This graph provides the depth and breadth of the vendors and one of the key understandings while developing the global medical cyclotron market penetration strategies.

Best ABT Molecular Imaging introduced their newest Best Sub-Compact Model 200 Self-Shielded Cyclotron for producing a range of radioisotopes for Medical and Research Applications at the push of a button. This cyclotron can be installed with one or more chemistry modules next to a PETCT/PET-MRI.
Sumitomo Heavy Industries, Ltd. conducted proton beam acceleration tests on its in-house developed superconducting cyclotron for the next-generation proton therapy system under development. They confirmed the generation of a high-intensity proton beam of 1,000 nA.
IBA is the world leader in cancer diagnostic systems and the recipient of a contract to install a Cyclone 70 system at the Institute for Basic Science in Daejeon, South Korea. The project will cost between US$ 13 and US$ 16 million, all of which will be financed through IBA.
IONETIX, a leading cyclotron technology, and isotope manufacturing company, acquired a 10,300 sq. ft. facility in Lansing, MI, for its new Targeted Alpha Radionuclide Manufacturing Center.
The manufacturer IBA and the manufacturer IRE signed a contract to install a cyclotron with an energy of 30 MeV. Further, commissioning is scheduled for 2023.

A few of the key primary and secondary sources referred to while preparing the report on the medical cyclotron market are the World Health Organization (WHO), the Centers for Disease Control and Prevention (CDC), Scientific Institute for Research, and International Atomic Energy Agency (IAEA).

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List of Companies

1. General Electric Company
2. Best ABT Molecular Imaging, Inc.
3. IBA
4. Sumitomo Heavy Industries, Ltd.
5. Siemens AG
6. Advanced Cyclotron Systems
7. ISOSOLUTION
8. ALCEN
9. IONETIX Corporation
10. Best Cyclotron System, Inc.