The Global medical cyclotron market was valued at $ 178.2 Million in 2017 and is forecast to grow at a modest xx.6 % CAGR between 2018 and 2025, culminating in 2025 global sales of $ 256.6 Million. Rising prevalence of chronic diseases, growing number of hospitals and ambulatory centers, increasing number of minimally invasive surgeries and technological advancement in medical cyclotron are some of the key drivers of this market.
We are observing steep rise in cases of chronic disease in last few years and trend is going to continue. Aging population and changing societal behavior adding to this steady increase. According to WHO chronic disease prevalence is expected to rise by 57%. This is going to increase medical diagnostic and imaging. Medical cyclotron is a machine used to make relatively short-lived radioisotopes that can be used for medical imaging purpose.
A chemical synthesis module is necessary to prepare radiopharmaceutical from the positron emitting radioisotopes produced in medical cyclotron. Zevacor Molecular (Zevacor), manufacturer and distributor of positron emission tomography (PET) and single photon emission computed tomography (SPECT) radiopharmaceuticals, announced the arrival of a 70 MeV Cyclotron at its new production facility in Noblesville, Indiana.
“Optimal Price Point (OPP) for Global Medical Cyclotron Products”
Estimated Average Medical cyclotron product cost – $ xx globally. However, with improving access and availability of options, OPP and range of acceptable Prices (RAP) are going to change. We at Ameri Research continuously track these prices with our proprietary pricing model.
Due to the wide array of products available in the market, pricing, positioning, and sales channel optimization play a vital role in the success of a product. On an average, in the Global, the medical cyclotron products are available at USD XXXX. However, the high-end products are available at much higher prices. The prices in emerging countries and developed countries vary significantly due to the difference in purchasing power and availability of latest products. The cost of a medical cyclotron facility would be very high. At current prices the capital cost might be expected to be in the range $6-10 Million with the annual operating costs of the order of $1 Million.
We have segmented the market based on the product types such as 10-12 MeV, 16-18 MeV, 19-24 MeV, 24 MeV & Above. The Cyclone 70P is an optimized, high-power proton cyclotron with variable proton acceleration in the energy range of 30 to 70 MeV. With cyclotron systems like the Eclipse cyclotron family to radiochemistry systems like Explora One, Siemens is innovating the future of biomarker production.
We have segmented the market based on applications as Neurosurgery, Oncology, Cardiology, & Clinical Research. We are observing increased usage in neurosurgery and cardiology. There are close to 1,218 cyclotrons installed worldwide to produce medical radionuclides.
A strong area of application of cyclotrons involves the production of short-lived neutron deficient radiotracers for use in emission tomography, especially positron emission tomography. This fast and quantitative in vivo diagnostic technique is being increasingly used in neurology, cardiology and oncology.
We have segmented the market based on end-user as hospitals, diagnostic centers and research institutes. We are observing major usage and increase in adaptation within hospital. Almost every leading cancer hospital having surgical unit is in the process of upgrading with latest medical cyclotron.
Cyclotrons are most powerful particle accelerator technology until development of synchrotron and are used to produce particle beams in physics and nuclear medicine. The largest single-magnet cyclotron is built between 1940 and 1946 by Lawrence at the University of California at Berkeley, which could accelerate protons to 730 MeV. We have observed a larger medical cyclotron at the University of British Columbia in Vancouver, British Columbia which can produce 500 MeV protons.
North America accounted for over xx% revenue share in 2017. The key reasons attributed for the high share include strong reimbursement framework, highly skilled medical professionals, technological advancements and government support for R&D and innovation in medical devices sector. Moreover, the presence of high-end hospital and high emphasis on surgeries is expected to boost the usage rates over the forecast period.
We have observed strong market during the years 2000-2007 with the development of the cyclotron networks for PET in USA and Western Europe and is expected to grow during the forecast period with rising demand from Asian and South American markets.
Merger and Acquisition Insight
We are observing some unique merger and acquisition in this space. ZEISS portfolio in surgical ophthalmology is get improved with acquisition of US-based manufacturer of Intraocular Lenses (IOLs) Aaren Scientific. Acquisition of Optronik AS in 2014 helps ZEISS to improve its positioning in the Turkish market. Alcon acquisition of WaveTec Vision helps to improve its ophthalmic surgical product portfolio.
Top Players & Company Share
We have profiled major players in the market as IBA; GE Healthcare; Siemens Medical Solutions USA, Inc.; Advanced Cyclotron Systems; Sumitomo Heavy Industries, Ltd.; and TeamBest (Best Medical International, Inc.). With recent development in technology, we are observing some unique new players into the market.
GLOBAL Medical Cyclotron Market by Product Types (Revenue, USD Million, 2014- 2025)
- 10-12 MeV
- 16-18 MeV
- 19-24 MeV
- 24 MeV & Above
GLOBAL Medical Cyclotron Market by Application (Revenue, USD Million, 2014 – 2025)
- Clinical Research
GLOBAL Medical Cyclotron Market by End-use (Revenue, USD Million, 2014- 2025)
- Diagnostic Centers
- Research Institutes
GLOBAL Medical Cyclotron Systems Regional Outlook (Revenue, USD Million, 2014- 2025)
- North America
- Asia Pacific
- South Korea
- Latin America
- Middle East and Africa
- South Africa
- Saudi Arabia