north america medical cyclotron Market

The North America medical cyclotron market is expected to reach US$ 109.15 million by 2027 from US$ 80.99 million in 2019; it is estimated to grow at a CAGR of 3.9% from 2020 to 2027.

The growth of the market is attributed to key driving factors such as increasing prevalence of cancer and growing inclination toward nuclear scans for accurate diagnosis. However, the high cost coupled with the procedures hinder the market growth.

A cyclotron is an electrically powered machine that produces a beam of charged particles for industrial, research, and medical purposes. In medical applications, cyclotrons have rays that are used to manufacture radioisotopes for medical imaging. Various medical cyclotrons are being used for the production of SPECT and Positron Emission Tomography (PET) isotopes used for therapeutic and other medical applications. Cyclotrons can be used in particle therapy to treat cancer by penetrating ion beams inside the body to remove tumors with radiation. Besides, proton beam therapy is used to treat tumors that do not spread in the body and, thus, do not require surgery. The prevalence of cancer is increasing every year. As per the estimates of the American Cancer Society, 1,735,350 new cancer cases were diagnosed in 2018. Increasing prevalence of chronic diseases like cancer, rising development of artificial radionuclides, and surging number of cancer treatment therapies are driving the North America medical cyclotrons market.

Amid the COVID-19 outbreak, the demand for medical cyclotrons is declined as patients are at higher risk of exposure. In the US, healthcare facilities are limiting or cancelling surgeries and sometimes screenings or other treatments if it is not recognized as a life-threatening condition. Therefore, the outbreak is likely to restrain the growth of the North America medical cyclotron market.

Based on type, the North America medical cyclotron market is bifurcated into ring cyclotron, and azimuthally and varying field (AVF). The ring cyclotron segment held a larger share of the market in 2019 and is estimated to register a higher CAGR in the market during the forecast period.

The North America medical cyclotron market, based on capacity, is segmented into 10–12 MeV, 16–18 MeV, 19–24 MeV, and 24 MeV and above. The 16–18 MeV segment held the largest share of the market in 2019, and the same segment is expected to register the highest CAGR in the market during 2020–2027.

Based on end user, the North America medical cyclotron market is segmented into hospitals, specialized clinics, pharmaceutical companies, and other end users. The hospitals segment held the largest share of the market in 2019. Also, the same segment is anticipated to register the highest CAGR in the market during the forecast period.

A Few of the primary and secondary sources referred to while preparing the report on the North America medical cyclotron market are the International Atomic Energy Agency (IAEA), Council for Science and Industrial Research (CSIR), and American Cancer Society.