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Medical Cyclotron Market Size & Share, Comprehensive Analysis to 2028

According to our latest study, “Medical Cyclotron Market Forecast to 2028 – COVID-19 Impact and Global Analysis – by Type, Capacity, and End User,” the Medical Cyclotron market size is projected to grow from US$ 202.34 million in 2022 to US$ 332.49 million by 2028; it is estimated to grow at a CAGR of 8.6% from 2022 to 2028.

The report highlights the key factors driving the market and prominent players with their developments. The increasing prevalence of cancer and growing inclination toward nuclear scans for accurate diagnosis is driving the market growth. However, the high cost of procedures and lack of expertise are hindering the market’s growth.

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Nuclear medicine is a highly specialized area that develops and uses instruments and radiopharmaceuticals to investigate the physiological processes of patients as well as diagnose diseases noninvasively. Nuclear medicines are used to cure diseases, including cancer, heart disease, psychiatric conditions, and gastrointestinal diseases. These medicines can diagnose several disorders that may require surgery, biopsy, or other invasive diagnostic tests.

Moreover, 1 in 5 patients is using nuclear medicines per year, and 1 in 10 are using radioactive sources. According to the World Nuclear Association, about 40 million procedures are carried out globally with nuclear medicines, with an annual growth of 5% per annum. It is estimated that one in fifty patients in developed economies use nuclear medicines for diagnosis each year, and one-tenth of this population is treated with radioisotopes. Consequently, the number of patients using nuclear diagnostics is expected to increase soon due to their accuracy, significantly pushing the market growth. Furthermore, the rising number of PET cyclotrons and the closing of nuclear reactors such as the Tomari nuclear plant in Japan are augmenting the market growth.

The introduction of advanced devices with a built-in shield and technological compatibility with PET and SPECT devices is responsible for an increase in the acceptability of these devices. The rising acceptability of cyclotrons is poised to escalate the market’s growth. Moreover, the high prevalence of cardiovascular diseases (CVDs) propels the market growth for nuclear medicines. CVDs have been reported to cause more than 17.9 million deaths annually worldwide. Targeted treatments for a particular disease are easy to implement in clinics, and high efficacy and lesser side effects of the molecular imaging approach are the main advantages of personalized medicines. Among differentiated cancer types, thyroid cancer is one of the most common diagnostic or therapeutic types. Molecular imaging plays an important role in diagnosing and treating thyroid cancer. It aids visual representation, classification, and quantification of biological characteristics of cells and tissues in patients; using these methods, healthcare providers can also provide personalized health management. Thus, the results of multimodal nuclear imaging could be used to develop a lesion-based strategy for patients with multiple heterogeneous metastatic lesions.

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