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 Me Vis 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.
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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 ScanstoBoost 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 cancerowing to lifestyle changes and excess tobacco consumption is creating awareness among the people forearly primary diagnosis of cancer. The growing concern towards canceramongst people andincreasing 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.
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