Medical Cyclotron Market To Expand By 2028 On The Back Of IncreasingDemand Of Medical Imaging Technology Arising From Rising Cases Of Cancer
Research Nester released a report titled “Medical Cyclotron Market: Global Demand Analysis & Opportunity Outlook 2028” which delivers detailed overview of the global medical cyclotron market in terms of market segmentation by product, energy, end user and by region.
Further, for the in-depth analysis, the report encompasses the industry growth drivers, restraints, supply and demand risk, market attractiveness, BPS analysis and Porter’s five force model.
Medical cyclotron is a machine used for medical imaging and research in order to diagnose the cancer patients at an early stage. Owing to its applications in production of medical isotopes as well as in radiation therapy of cancer, the medical cyclotron market is anticipated to record a significant CAGR over the forecast period, i.e., 2020-2028. The market is segmented by energy into10-12 MeV, 16-18 MeV, 19-24 MeV and 24 MeV, out of which, the segment for 16-18 MeVis anticipated to hold the leading share in the medical cyclotron market. This can be attributed to its small size compared to other particle accelerators and its increasing application in nuclear scans in hospitals as a result of rise in cancer rates. Additionally, these cyclotrons are also required in universities and local industrial radionuclide plants for research purposes.
Based on the regional analysis, the medical cyclotron market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region. The market in North America is predicted to hold the largest share on account of growing demand for nuclear scans and increasing investments in healthcare infrastructure in the region, along with the presence of leading market players in the region.
Growing Cases of Cancer and Rise in Demand for Nuclear Scansto Boost the Market Growth
According to World Nuclear Association (WNA),over 40 million nuclear medicine procedures are performed each year, with demand for radioisotopes increasing up to 5% annually.
Rise in cases of cancer owing to lifestyle changes and excess tobacco consumption is creating awareness among the people for early primary diagnosis of cancer. The growing concern towards cancer amongst people and increasing advancement in nuclear medicine such as medical imaging technologies is anticipated to increase the market growth over the forecast period. However, high costs involved in operating and maintaining the device, regulatory constraints and limited professionals to operate cyclotrons is estimated to hamper the market growth.
This report also provides the existing competitive scenario of some of the key players of the global medical cyclotron market which includes company profiling of GE Healthcare, Siemens Healthineers AG (ETR: SHL), IBA Worldwide, Sumitomo Heavy Industries, Ltd. (TYO:6302), Advanced Cyclotron Systems, Inc., Nueclear Healthcare Limited, Team Best and Best Cyclotron Systems, Inc. (BCSI). The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the global medical cyclotron market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.