Medical Cyclotron Market Status (2016-2020) and Forecast Market Analysis, Regional Outlook, Segment Growth Potential, and Competitive Market Share Analysis, 2021-2027
Report Description
The global Medical Cyclotron market size is estimated at USD 160.8 million in 2020, expanding at a CAGR 6.6% from 2021-2027.
Market Dynamics
According to market estimates, the global medical cyclotron market will grow at a CAGR of XX between 2021 and 2027. One of the primary factors driving market growth is the growing geriatric population, which is more likely to develop cancer. Furthermore, as a result of changing lifestyles, rising disposable incomes, and increased awareness about the use of medical cyclotrons in tumour diagnosis, there is an increase in demand for PET scan diagnostic treatments. This, combined with significant investments in healthcare infrastructure and the growing shift away from nuclear reactors and toward medical cyclotrons, is creating a positive outlook for the market.
Furthermore, the increasing number of cancer cases has increased the demand for nuclear scans for accurate diagnosis all over the world. Furthermore, medical cyclotrons are increasingly being used in cardiology, neurology, and oncology departments in hospitals and diagnostic centres. Furthermore, the market's leading players are introducing technologically advanced diagnostic devices, which are expected to broaden their overall market reach and positively influence demand for medical cyclotrons globally.
Regional Insights
On the basis of region, the market is segmented into North America, South America, Europe, Asia Pacific, and Middle East & Africa. During the forecast period, North America is expected to have the largest market share. Huge investments are being made in cyclotron research and production as the nuclear medicine industry in this region develops, particularly due to increased government funding. Asia Pacific countries such as China and India are expected to grow at a faster rate due to rapidly expanding healthcare facilities and an increase in patient disposable income. This, along with other factors such as an increase in the prevalence of cancer cases, rapid industrialization, and an increased demand for diagnostic procedures, particularly nuclear medicine, in the Asia-Pacific region, will drive growth over the next five years.
Segment Insights
The Medical Cyclotron market is fragmented into product, application, and end user segments. Based on the product, 16 to 18 MeV segment is anticipated to dominate the market. Based on application, Research and Development segment is expected to witness the highest CAGR. Based on the end user, Research and Academic Institutes segment is anticipated to showcase highest CAGR.
Competitive Insights
The global medical cyclotron market is expected to grow significantly over the forecast period, owing to market players' strong focus on establishing strategic collaborations, partnerships, and so on in order to expand their global presence. For example, in October 2019, IBA a Belgian medical technology company, announced a collaboration with the Azrieli Centre for Neuro-Radiochemistry at the Centre for Addiction and Mental Health (CAMH), a Canadian mental health hospital and research centre, to promote nuclear medicine research and development. Azrieli Centre for Neuro-Radiochemistry will use IBA cyclotron and radio synthesizer platform for research purposes as part of this collaboration.
The report begins with an overview of the Industry Chain structure, and describes the industry environment, then analyses market size and forecast of Medical Cyclotron by product, application, end user and region. In addition, this report introduces the market competition situation among the vendors and company profile, besides, market price analysis and value chain features are covered in this report.
Company Coverage (Company Profile, Sales Revenue, Price, Gross Margin, Main Products etc.):
- IBA
- GE Healthcare
- Siemens Healthineers
- Advanced Cyclotron Systems
- Sumitomo Heavy Industries, Ltd.
- Best Cyclotron Systems, Inc.
- Ionetix
- Varian Medical Systems, Inc.
- Isosolution Inc.
- Alcen
Product Coverage (Market Size & Forecast, Main Consumer Analysis etc.):
- Cyclotron 10-12 MEV
- Cyclotron 16-18 MEV
- Cyclotron 19-24 MEV
- Cyclotron 24 MEV & Above
Application Coverage (Market Size & Forecast, Main Consumer Analysis etc.):
- Diagnostic and Treatment
- Research and Development
End User Coverage (Market Size & Forecast, Main Consumer Analysis etc.):
- Hospitals
- Diagnostic Centers
- Commercial Radioisotope Manufacturers
- Research and Academic Institutes
Region Coverage (Regional Consumption, Demand & Forecast by Countries etc.):
- North America (U.S., and Canada)
- Europe (Germany, U.K., France, Italy, Spain etc.)
- Asia-Pacific (China, India, Japan, Indonesia, Malaysia, Australia, South Korea, etc.)
- South America (Brazil, Mexico, Argentina etc.)
- Middle East & Africa (Saudi Arabia, Kuwait, UAE, South Africa etc.)
Table Of Content
1. Medical Cyclotron Market Overview
1.1. Product Overview and Scope of Medical Cyclotron
1.2. Global Market Growth Prospects and Revenue Estimates
1.3. Global Medical Cyclotron Market Size Growth Rate Analysis by Product, 2020 VS 2027
1.3.1. Cyclotron 10-12 MEV
1.3.2. Cyclotron 16-18 ME
1.3.3. Cyclotron 19-24 MEV
1.3.4. Cyclotron 24 MEV & Above
1.4. Global Medical Cyclotron Comparison by Application: 2020 VS 2027
1.4.1. Diagnostic and Treatment
1.4.2. Research and Development
1.5. Global Medical Cyclotron Comparison by End User: 2020 VS 2027
1.5.1. Hospitals
1.5.2. Diagnostic Centers
1.5.3. Commercial Radioisotope Manufacturers
1.5.4. Research and Academic Institutes
1.6. Global Medical Cyclotron Market Size Estimates and Forecasts by Region: 2020 VS 2027
1.6.1. North America Medical Cyclotron Estimates
1.6.2. Europe Medical Cyclotron Estimates
1.6.3. Asia Pacific Medical Cyclotron Estimates
1.6.4. South America Medical Cyclotron Estimates
1.6.5. Middle East & Africa Medical Cyclotron Estimates
2. Market Competition by Manufacturers
2.1. Global Medical Cyclotron Revenue Market Share by Manufacturers (2020)
2.2. Medical Cyclotron Market Share by Company Type (Tier 1, Tier 2 and Tier 3)
2.3. Global Medical Cyclotron Average Price by Manufacturers (2020-2027)
2.4. Manufacturers Medical Cyclotron Production Sites, Area Served, Product Types
2.5. Medical Cyclotron Market Competitive Situation and Trends
2.5.1. Medical Cyclotron Market Concentration Rate
2.5.2. Mergers & Acquisitions, Expansion
3. Global Medical Cyclotron Consumption by Region (2020-2027)
3.1. Global Medical Cyclotron Consumption by Region
3.2. Global Medical Cyclotron Consumption Market Share by Region
3.2.1. North America
3.2.2. North America Medical Cyclotron Consumption Growth Rate (2020-2027)
3.2.3. North America Medical Cyclotron Consumption, Price and Gross Margin (2020-2027)
3.2.4. North America Medical Cyclotron Consumption by Country
3.2.4.1. U.S.
3.2.4.2. Canada
3.2.5. Europe
3.2.6. Europe Medical Cyclotron Consumption Growth Rate (2020-2027)
3.2.7. Europe Medical Cyclotron Consumption, Price and Gross Margin (2020-2027)
3.2.8. Europe Medical Cyclotron Consumption by Country
3.2.8.1. Germany
3.2.8.2. U.K.
3.2.8.3. France
3.2.8.4. Italy
3.2.8.5. Spain
3.2.9. Asia Pacific
3.2.10. Asia Pacific Medical Cyclotron Consumption Growth Rate (2020-2027)
3.2.11. Asia Pacific Medical Cyclotron Consumption, Price and Gross Margin (2020-2027)
3.2.12. Asia Pacific Medical Cyclotron Consumption by Country
3.2.12.1. China
3.2.12.2. India
3.2.12.3. Japan
3.2.12.4. Indonesia
3.2.12.5. Malaysia
3.2.12.6. Australia
3.2.12.7. South Korea
3.2.13. South America
3.2.14. South America Medical Cyclotron Consumption Growth Rate (2020-2027)
3.2.15. South America Medical Cyclotron Consumption, Price and Gross Margin (2020-2027)
3.2.16. South America Medical Cyclotron Consumption by Country
3.2.16.1. Brazil
3.2.16.2. Mexico
3.2.16.3. Argentina
3.2.17. Middle East and Africa
3.2.18. Middle East and Africa Medical Cyclotron Consumption Growth Rate (2020-2027)
3.2.19. Middle East and Africa Medical Cyclotron Consumption, Price and Gross Margin (2020-2027)
3.2.20. Middle East and Africa Medical Cyclotron Consumption by Country
3.2.20.1. Saudi Arabia
3.2.20.2. Kuwait
3.2.20.3. UAE
3.2.20.4. South Africa
4. Global Medical Cyclotron Consumption by Product (2020-2027)
4.1. Global Medical Cyclotron Price by Product (2020-2027)
4.2. Global Medical Cyclotron Revenue Market Share by Product (2020-2027)
4.2.1. Cyclotron 10-12 MEV
4.2.2. Cyclotron 16-18 ME
4.2.3. Cyclotron 19-24 MEV
4.2.4. Cyclotron 24 MEV & Above
5. Global Medical Cyclotron by Application (2020-2027)
5.1. Global Medical Cyclotron Price by Application (2020-2027)
5.2. Global Medical Cyclotron Revenue Market Share by Application (2020-2027)
5.2.1. Diagnostic and Treatment
5.2.2. Research and Development
6. Global Medical Cyclotron by End User (2020-2027)
6.1. Global Medical Cyclotron Price by End User (2020-2027)
6.2. Global Medical Cyclotron Revenue Market Share by End User (2020-2027)
6.2.1. Hospitals
6.2.2. Diagnostic Centers
6.2.3. Commercial Radioisotope Manufacturers
6.2.4. Research and Academic Institutes
7. Key Companies Profiled
7.1. IBA
7.1.1. IBA Medical Cyclotron Corporation Information
7.1.2. IBA Medical Cyclotron Product Portfolio
7.1.3. IBA Medical Cyclotron Consumption, Price and Gross Margin (2020-2027)
7.1.4. IBA Main Business and Markets Served
7.1.5. IBA Recent Developments/Updates
7.2. GE Healthcare
7.3. Siemens Healthineers
7.4. Advanced Cyclotron Systems
7.5. Sumitomo Heavy Industries, Ltd.
7.6. Best Cyclotron Systems, Inc.
7.7. Ionetix
7.8. Varian Medical Systems, Inc.
7.9. Isosolution Inc.
7.10. Alcen
8. Marketing Channel, Distributors and Customers
8.1. Marketing Channel
8.2. Medical Cyclotron Distributors List
8.3. Medical Cyclotron Customers
9. Market Dynamics
9.1. Medical Cyclotron Industry Trends
9.2. Medical Cyclotron Growth Drivers
9.3. Medical Cyclotron Market Challenges
9.4. Medical Cyclotron Market Restraints
10. Global Medical Cyclotron Consumption and Demand Forecast, by Region (2022-2027)
10.1. Global Forecasted Demand Analysis of Medical Cyclotron, by Regions and Country
10.1.1. North America Forecasted Consumption of Medical Cyclotron by Country
10.1.2. Europe Market Forecasted Consumption of Medical Cyclotron by Country
10.1.3. Asia Pacific Market Forecasted Consumption of Medical Cyclotron by Region
10.1.4. Latin America Forecasted Consumption of Medical Cyclotron by Country
10.1.5. Middle East and Africa Forecasted Consumption of Medical Cyclotron by Country
11. Global Medical Cyclotron Consumption and Demand Forecast, by Device Segments (2022-2027)
11.1. Global Forecasted Consumption of Medical Cyclotron by Device Segments (2022-2027)
11.2. Global Consumption and Price Forecast by Device Segments (2022-2027)
11.3. Global Forecasted Growth Rate of Medical Cyclotron by Device Segments (2022-2027)
12. Research Finding and Conclusion
13. Methodology and Data Source
13.1. Methodology/Research Approach
13.1.1. Research Programs/Type
13.1.2. Market Size Estimation
13.1.3. Market Breakdown and Data Triangulation
13.2. Data Source
13.2.1. Secondary Sources
13.2.2. Primary Sources
13.3. Author List
13.4. Disclaimer
Research Methodology
Our research studies are primarily performed in five phases which include Secondary Research, Primary Research, Subject Matter Expert Advice, Quality Check, and Final Review. The process opted for conducting thorough research to make authentic business reports is briefly described below-
Secondary Research-
- Based on the understanding of requirements, we conducted secondary research to identify the Segment specifications, qualitative and quantitative data along with the factors responsible for the growth of the market.
- The secondary sources referred for the study include press releases, company annual reports, and research papers related to the industry.
- Various sources such as industry magazines, trade journals, government websites, and associations were also reviewed for gathering precise analysis on opportunities for business expansions in the market.
- Moreover, quantitative as well as qualitative data were also extracted from paid databases, which included Reuters, Factiva, Bloomberg, One Source, and Hoovers, which proved to be useful for in-depth technical study of the market.
Primary Research-
- The research carried out during the desk research was verified by primary interviews. Primary research was scheduled with a number of industry experts for conducting telephonic interviews, and also our team send questionnaires through their official emails.
- The secondary data collected was then verified by various industry participants which included Segment managers, marketing managers, VPs, CEOs, purchasing managers, subject matter experts.
- An interview with the mentioned participants aids invalidation of our research findings regarding the Segment.
- It helps in the provision of first-hand data on factors such as market size, growth, regional trends, market trends, and competition in the industry. This approach makes our findings precise in order to help our clients in strategic decision-making processes.
Subject Matter Advice-
- The secondary and primary research key findings were then validated by the in-house subject matter experts having extensive experience in the market research industry.
- Specific requirements of the clients were reviewed by the experts to check for completion of the market study. Experts help in channelizing the representation skills of the analyst in terms of providing data that can be easily understood by our customers.
Quality Check-
- The analysis done by the research team was further reviewed to check for data accuracy provided to suit the clients’ specific requirements.
- This revision was done in various phases to check the data authenticity and to remove negligible errors in the final compilation.
Final Review-
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