Press release
Medical Cyclotron Market is expected to reach USD 562.4 million by 2032, growing at a compound annual growth rate of 10.6% over the projected period
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Market Trends and Drivers
medical imaging is driving up demand for cyclotron systems, and these systems may be used for various diagnostic procedures. Medical cyclotrons are more in demand as a result of the electrically driven device's ability to produce a beam of charge that is primarily employed in industrial, research, and medical procedures. Except for the negative charge, the hybrid atom that makes up water is held in the new cyclotron machine. The radioactive new element created by the collision of positive ions and neutrons is employed as a treatment in medical research, driving demand for medical cyclotrons.
Global Medical Cyclotron Market Segmental Overview
The report analyses the global medical cyclotron market based on the product type, end user, and region.
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Major Players in the Global Medical Cyclotron Market
The key players studied in the report are IBA Radiopharma Solutions, Advanced Cyclotron Systems, Best Cyclotron Systems, Inc., Best ABT Molecular Imaging, Inc., Siemens Healthineers, GE Healthcare, IONETIX Corporation, PMB-ALCEN, Sumitomo Heavy Industries, Ltd., and The Japan Steel Works, Ltd. among others.
COVID-19 Impact
The market share and demand for medical cyclotrons both benefited from COVID-19. Medical cyclotron technology is being used to estimate the frequency of the novel coronavirus (COVID-19), which is estimated to range from 30 kHz to 500 kHz. Companies in the medical cyclotron market are taking part in research projects in an effort to develop antiviral drugs that are thought to lessen the detrimental effects of the virus. Companies are placing more attention on genome sequencing to create COVID-19 medicines in order to increase the sales of medical cyclotrons.
Recent Developments
January 2022, IBA announced that it had launched a new low-energy and compact-size cyclotron, the Cyclone KEY. The new machine will enable small and medium-sized hospitals to produce their radiopharmaceutical products.
August 2020, The German Health company Siemens Healthineers acquired Varian Medical Systems Inc. in an agreement that values the U.S. manufacturer of cancer treatment equipment and software at $16.4 billion.
October 2019, IBA Radiopharma Solutions, a Belgium-based medical technology company, announced a collaboration with Azrieli Center for Neuro-Radiochemistry at the Center for Addiction and Mental Health (CAMH), a Canada-based mental health hospital and research center, in order to promote research & development in the field of nuclear medicine.
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