Medical Cyclotron Market Share, Size and Growth Analysis By 2029

The global medical cyclotron market is projected to expand from US$ 202.34 million in 2022 to US$ 332.49 million by 2028, reflecting a compound annual growth rate (CAGR) of 8.6% during this period.

This growth is largely driven by increasing research and development efforts in the field of radiology, particularly for cancer diagnostics and therapeutics, as well as treatments for cardiovascular diseases and other medical conditions. However, challenges such as the high costs associated with procedures and a shortage of skilled professionals are hindering the market's expansion.

Cyclotron therapy is a prevalent method for treating various cancer types. The incidence of cancer continues to rise annually, with proton beam therapy being a notable treatment option for tumors that remain localized and do not necessitate invasive brain surgery. This therapy is particularly advantageous for pediatric patients, as it minimizes damage to healthy, developing tissues.

Additionally, cyclotron therapy is effective for treating ocular cancers, including orbital rhabdomyosarcoma and retinoblastoma. Radiotherapy represents a highly advanced approach to cancer diagnosis and treatment. According to the National Cancer Institute, the U.S. government allocated US$ 208.9 billion for cancer treatment in 2020. The growth of the medical cyclotron market is further fueled by advancements in artificial radionuclides, an increase in therapeutic options, and a rising cancer prevalence.

The medical cyclotron market is categorized by type into ring cyclotrons and azimuthally varying fields (AVF). In 2022, the ring cyclotron segment held the largest market share and is anticipated to exhibit the highest CAGR from 2022 to 2028. Ring cyclotrons are utilized in proton therapy, employing high-energy proton beams to target cancer cells while sparing surrounding healthy tissue. The CC-18/9 cyclotron serves as an injector for these systems, delivering high-intensity radiation specifically to malignant cells.

The acceleration process for proton therapy takes approximately 10 to 20 microseconds, allowing for precise control of the proton beam, which can be adjusted for energy levels and turned off at the end of treatment. This targeted approach not only focuses on cancerous cells but also preserves the biological integrity of non-cancerous cells, thereby increasing the demand for ring cyclotrons in medical applications. The escalating global cancer rates are expected to further propel market growth during the forecast period.

A comparative analysis of companies within the medical cyclotron market assesses their product offerings (including product satisfaction, features, and availability), recent market activities (such as mergers and acquisitions, new product launches, investments, collaborations, and recognitions), and their geographical reach. This analysis aids businesses in making informed decisions and understanding the competitive landscape.

The report delves into significant recent developments by leading vendors 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..

Companies that implement distinct growth strategies are likely to experience significant market expansion. The data highlights recent developments and the presence of strong players in the field. Competitive strategies, including mergers and acquisitions, geographical expansion, research and development initiatives, and the introduction of new products, are essential for future growth prospects. This analysis provides insights into vendor capabilities and opportunities for market penetration strategies.

For instance, Best ABT Molecular Imaging launched the Best Sub-Compact Model 200 Self-Shielded Cyclotron, designed for the efficient production of various radioisotopes for medical and research applications, operable at the push of a button. This model can be paired with multiple chemistry modules adjacent to PETCT/PET-MRI systems.

Sumitomo Heavy Industries, Ltd. has conducted successful proton beam acceleration tests on its proprietary superconducting cyclotron, which is part of a next-generation proton therapy system currently under development, achieving a high-intensity proton beam of 1,000 nA.

IBA, a leader in cancer diagnostic systems, secured a contract to install a Cyclone 70 system at the Institute for Basic Science in Daejeon, South Korea, with project costs estimated between US$ 13 million and US$ 16 million, fully financed by IBA.

IONETIX has expanded its operations by acquiring a 10,300 sq. ft. facility in Lansing, MI, to establish a new Targeted Alpha Radionuclide Manufacturing Center.

Moreover, IBA and IRE have entered into a contract for the installation of a cyclotron with an energy output of 30 MeV, with commissioning planned for 2023.

Key sources referenced in the preparation of this report include the World Health Organization (WHO), the Centers for Disease Control and Prevention (CDC), the Scientific Institute for Research, and the International Atomic Energy Agency (IAEA).