Cyclotron Market Top Countries Data, Analysis of Key Trends, Top Manufactures, Industry Dynamics, Insights and Future Growth 2030
According to a latest report by Reports and Data, the cyclotron market size is expected to reach USD 359.8 million in 2030 and register a revenue CAGR of 5.1% over the forecast period. Increasing prevalence of cancer and rising demand for radiopharmaceuticals are factors driving market revenue growth during the forecast period. In addition, increasing demand for nuclear imaging in cancer detection is further expected to drive growth of the cyclotron market.
Increasing prevalence of cancer is expected to contribute to growing demand for diagnosis and treatment of cancer. Growing incidence of cancer has led to increasing investments into research & development for development of new drugs and therapies to mitigate spread of cancer. Modern diagnostic imaging technologies, such as Positron Emission Tomography (PET), use radiopharmaceuticals to insight into tumor physiology down to molecular level. This has led to an increase in demand for nuclear imaging in cancer detection. In nuclear imaging, a radioactive tracer material is administered in body, which produces images by detecting radiation from different parts of body. The advantage of nuclear medicine imaging is that it evaluates functioning of organs and thereby helps physicians to make a diagnosis and plan treatments. This, in turn, is expected to increase demand of cyclotrons and thereby drive revenue growth of the market.
Rising demand for radiopharmaceuticals has led to an increased demand for cyclotrons in manufacturing of radiopharmaceuticals. For instance, in 2018 Lutetium Lu 177 dotatate was first radioactive drug approved by USFDA to treat these rare cancers. This new drug consists of a radioactive isotope, Lu-177, attached to dotatate—a molecule that binds to GEP-NET cells that have a molecule called a somatostatin receptor on their surface. This drug then enters these somatostatin receptor−positive tumor cells and radiations emitted by Lu-177 help to kill cells, Radiopharmaceuticals known as nuclear medicine involve use of radioactive isotopes in diagnosis and treatment of cancer and cyclotrons produce radioisotopes. This is thereby expected to boost revenue growth of the market considerably.
Increasing demand for nuclear imaging in cancer detection is expected to increase demand for cyclotrons significantly. Rapid growth of the IT industry has led to a rise in number of IT service providers providing various services and platforms at a competitive price. In addition, increasing investments by private healthcare facilities as well government expenditure to modernize healthcare facilities and facilitate digital transformation are expected to drive revenue growth of the market.
For More Industry Insight, Request Sample@ https://www.reportsanddata.com/download-summary-form/5102
However, stringent regulations on radiopharmaceuticals are expected to hamper growth of the market. There has been a significant delay in drug-approval processes for radiopharmaceuticals due to stringent regulations on radiopharmaceuticals. In addition, there must be strict compliance with national regulations for protection against ionizing radiation from cyclotrons.
Furthermore, stringent regulatory guidelines for installing cyclotrons are further expected to restrain revenue growth of the market. Particles accelerated within a cyclotron may cause activation of other metals and leave residual radioactivity, therefore research facilities must strictly adhere to regulations of government authorities. These factors are expected to hamper market growth significantly.
Some Key Highlights in the Report
- The medical segment is expected to account for larger market share over the forecast period. Increasing prevalence of cancer and rising demand for radiopharmaceuticals are expected to drive revenue growth of this segment.
- The 19-24 MeV segment is expected to expand at a rapid CAGR during the forecast period owing to increasing investments in scientific research and discoveries made in the field of nuclear physics. It is significant factor that is expected to boost growth of this segment.
- The North America market accounted for the largest revenue share in 2021. Increasing investments in research & development of new technologies for early detection and treatment of cancer has led to increasing demand for cyclotrons and thereby driving market revenue growth. Robust presence of market players and drug manufacturers in countries of the region is further expected to propel market 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 December 2021, Varian Medical Systems, Inc., announced an agreement with Indian Cooperative Oncology Network, to enhance access to cancer care through a value-based cancer treatment hub for the Southern Africa region. This strategic partnership includes investments in seven new linear accelerators including Halcyon and TrueBeam radiotherapy systems and associated software solutions. It is further expected to support skill development and local training of its professional staff and provide maintenance support for Varian machines.
Request For Custom Research @ https://www.reportsanddata.com/request-customization-form/5102
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
Browse More Reports:
Biomaterials Market Size, Share, and Industry Analysis By Application (Cardiovascular, Orthopedic, Dental, Plastic Surgery, Tissue Engineering) By Type (Metallic Biomaterials, Natural Biomaterial), and By Region Forecast to 2030
Dental Laser Market Size, Share, Trends, By Product Type (Erbium laser, Diode Laser, Carbon Dioxide Laser, Others), By Application (Tooth Decay, Gum Disease, Tooth Whitening, Others), By End-use (Hospital, Dental Clinic) and By Region Forecast to 2030
Biotechnology Market By Product Type (Instruments, Reagents, Software & Services), By Technology (Tissue Engineering & Regeneration, DNA Sequencing, Cell-based Assays, Nano biotechnology), By Application, and By Region Forecast to 2030
About Reports and Data
Reports and Data is a market research and consulting company that provides syndicated research reports, customized research reports, and consulting services. Our solutions purely focus on your purpose to locate, target, and analyze consumer behavior shifts across demographics, across industries, and help clients to make smarter business decisions. We offer market intelligence studies ensuring relevant and fact-based research across multiple industries, including Healthcare, Touch Points, Chemicals, Products, and Energy. We consistently update our research offerings to ensure our clients are aware of the latest trends existent in the market. Reports and Data has a strong base of experienced analysts from varied areas of expertise. Our industry experience and ability to develop a concrete solution to any research problem provide our clients with the ability to secure an edge over their respective competitors.