The cyclotron technology is being used to calculate the frequency of the novel coronavirus (COVID-19), which is estimated to range from ~30 KHz to ~500 KHz. In order to develop antiviral drugs, companies in the cyclotron market are participating in research activities to minimize the extent of negative ramifications caused by the virus. They are increasing focus in genome sequencing to come up with treatments for COVID-19. Companies in the cyclotron market are using low-frequency magnetic fields (LFMF) in multidisciplinary research to find treatments that help to combat the powerful pathogen.
Rapid morbidity and mortality is being associated with the COVID-19 outbreak. This has accelerated R&D activities in healthcare organizations. Thus, the cyclotron technology is one of the important aspects of research activities, as scientists are innovating in antiviral drugs and vaccines for the novel infection.
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Radiopharmaceuticals are being used to improve the diagnosis and treatment of diseases such as cancer, Alzheimer’s, multiple sclerosis, and Parkinson’s. Scientists are tagging specific biomolecules with radioisotopes to track the processes of these radiopharmaceuticals in specific organs based on how the tagged molecules are being absorbed. Thus, companies in the cyclotron market should collaborate with such scientists to advance in the treatments for cancer and Alzheimer’s. This trend is anticipated to grow since students and faculty members in universities are increasing the availability of solutions to complex health problems. Moreover, health professionals are acquiring training in advanced imaging and treatment protocols.
On the other hand, companies in the cyclotron market are increasing their research in areas of physics, which is associated with the production of new radioisotopes in order to design more sensitive radiation detectors.
The photon therapy holds promising potentials in the treatment of cancer. However, this branch of cyclotron technology has its drawbacks, which explains why the global cyclotron market is estimated to register a sluggish CAGR of ~3% throughout the assessment period. It has been found that the speed of the accelerating particle cannot be increased after a certain limit. Thus, to overcome this issue, companies in the cyclotron market are modifying the magnetic field to appropriately shape the poles of a magnet in a cyclotron.
Researchers in the market for cyclotron are tapping into incremental opportunities in the field of animal and human health imaging and research. For instance, the Sylvia Fedoruk Canadian Centre for Nuclear Innovation based in Canada is increasing its focus in crop/plant imaging and research activities. Cyclotrons are being highly publicized for the development of new compounds called radiopharmaceuticals that help in the detection of cancer.
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The cyclotron market is expected to grow from a revenue of US$ 215.5 Mn in 2019 and reach US$ 304 Mn by the end of 2030. This can be ascribed to manufacturers increasing their production capabilities to produce custom radiopharmaceuticals that are being used in medical and research applications. The Cyclotron and Radiopharmaceutical Core is a cGMP-compliant facility in the Houston Methodist Hospital, which caters to the production of clinical grade and rare custom radiopharmaceuticals for medical applications. Companies in the cyclotron market are taking cues from such facilities to operate within the GE PETrace cyclotron that produces tracers for position emission tomography (PET) scans.
GE PETrace cyclotrons are being used to develop clinical grade tracers with half-lives ranging from a few minutes to up to a few hours. Since these tracers are not readily available, manufacturers are capitalizing on this opportunity to develop custom radiopharmaceuticals.
One of the oldest particle accelerators housed at the Panjab University, India, is gaining popularity for its contribution toward the development of nuclear medicines. Hence, companies in the cyclotron market in India are increasing their research in nuclear physics to develop nuclear medicines. On the other hand, there is an increasing demand for radiopharmaceuticals used in molecular imaging applications. For instance, PMB-Alcen— a provider of high-technology assemblies and systems for medical and research industries, is increasing its product portfolio to develop compact and lightweight 12 MeV cyclotron for PET radiopharmaceutical production.
High performance and reliability are preferred for the production of PET radiopharmaceutical. Companies in the cyclotron market are increasing efforts to make technological improvements in systems that use helium-free superconducting magnets. They are increasing efforts to install lightweight cyclotrons in facilities to boost the production of radiopharmaceuticals.
Automated technologies are bolstering the credibility of companies in the cyclotron market. These easy-to-use and easy-to-install attributes of lightweight cyclotrons are being highly publicized for radiopharmaceuticals production. Automated operations are facilitating an intuitive and user-friendly interface for users. This trend has led to the demand for skilled and trained professionals for radiopharmaceuticals production. Moreover, automated operations are associated with easy and quick maintenance of cyclotrons.
Companies are unlocking value-grab opportunities in nuclear waste management applications. In order to achieve this, companies are developing high-power cyclotrons. Since accelerator-driven systems (ADS) are associated with serious long-term radiological risks, companies are capitalizing on this opportunity to develop high-power cyclotrons for nuclear waste management. They are combining their accelerator expertise and new ideas in nuclear science to innovate in nuclear waste management applications. Companies are increasing efforts to introduce automated processes in nuclear waste management.
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Analysts’ Viewpoint
The unprecedented demand for antiviral drugs has led to increase in research activities with the help of cyclotrons to determine the frequency of COVID-19 pathogens. However, cyclotrons are associated with the generation of high levels of radiation that can cause health problems in scientists and researchers. Hence, companies in the cyclotron market should invest in robust radioisotope laboratories that enable researchers to work safely with radioactive materials. As such, automated procedures are taking the forefront in the radiopharmaceutical production. These radiopharmaceuticals hold promising potentials to improve the diagnosis of cancer, Parkinson’s, and multiple sclerosis. In addition, companies are leveraging business opportunities in nuclear waste management applications.
Cyclotron Market – Segmentation
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The global cyclotron market was worth US$ 215.5 Mn and is projected to reach a value of US$ 304 Mn by the end of 2030
Cyclotron market is anticipated to grow at a CAGR of 3% during the forecast period
North America accounted for a major share of the global cyclotron market
Cyclotron market is driven by increase in prevalence of cancer and rise in the demand for nuclear scans for precise diagnosis are key factors driving the cyclotron market
Key players in the global cyclotron market include GE Healthcare, Siemens Healthineers, IBA Radiopharma Solutions, and Sumitomo
1. Preface
1.1. Market Definition and Scope
1.2. Market Segmentation
1.3. Key Research Objectives
1.4. Research Highlights
2. Assumptions and Research Methodology
3. Executive Summary: Global Cyclotron Market
4. Market Overview
4.1. Introduction
4.1.1. Type Definition
4.1.2. Industry Evolution / Developments
4.2. Overview
4.3. Market Dynamics
4.3.1. Drivers
4.3.2. Restraints
4.3.3. Opportunities
4.4. Global Cyclotron Market Analysis and Forecast, 2018–2030
4.4.1. Market Revenue Projections (US$ Mn)
4.5. Porter’s Five Force Analysis
5. Key Insights
5.1. Key Industry Developments
5.2. COVID 19 Impact Analysis
5.3. Typical cost for Establishing Cyclotron Radiopharmaceutical Center
5.4. Pricing Analysis
6. Global Cyclotron Market Analysis and Forecast, by Application
6.1. Introduction & Definition
6.1.1. Key Findings / Developments
6.2. Global Cyclotron Market Value Forecast, by Application, 2018–2030
6.2.1. Medical
6.2.2. Industrial
6.3. Global Cyclotron Market Attractiveness, by Application
7. Global Cyclotron Market Analysis and Forecast, by Product
7.1. Introduction & Definition
7.1.1. Key Findings / Developments
7.2. Global Cyclotron Market Value Forecast, by Product, 2018–2030
7.2.1. Cyclotron 5-12 MeV
7.2.2. Cyclotron 16-18 MeV
7.2.3. Cyclotron 19-24 MeV
7.2.4. Cyclotron 24 MeV & Above
7.3. Global Cyclotron Market Attractiveness, by Product
8. Global Cyclotron Market Analysis and Forecast, by Region
8.1. Key Findings
8.2. Global Cyclotron Market Value Forecast, by Region
8.2.1. North America
8.2.2. Europe
8.2.3. Asia Pacific
8.2.4. Latin America
8.2.5. Middle East & Africa
8.3. North America Cyclotron Market Attractiveness, by Region
9. North America Cyclotron Market Analysis and Forecast
9.1. Introduction
9.1.1. Key Findings
9.2. North America Cyclotron Market Value (US$ Mn) Forecast, by Application, 2018–2030
9.2.1. Medical
9.2.2. Industrial
9.3. North America Cyclotron Market Value (US$ Mn) Forecast, by Product, 2018–2030
9.3.1. Cyclotron 5-12 MeV
9.3.2. Cyclotron 16-18 MeV
9.3.3. Cyclotron 19-24 MeV
9.3.4. Cyclotron 24 MeV & Above
9.4. North America Cyclotron Market Value (US$ Mn) Forecast, by Country, 2018–2030
9.4.1. U.S.
9.4.2. Canada
9.5. North America Cyclotron Market Attractiveness Analysis
9.5.1. By Application
9.5.2. By Product
9.5.3. By Country
10. Europe Cyclotron Market Analysis and Forecast
10.1. Europe Cyclotron Market Value (US$ Mn) Forecast, by Application, 2018–2030
10.1.1. Medical
10.1.2. Industrial
10.2. Europe Cyclotron Market Value (US$ Mn) Forecast, by Product, 2018–2030
10.2.1. Cyclotron 5-12 MeV
10.2.2. Cyclotron 16-18 MeV
10.2.3. Cyclotron 19-24 MeV
10.2.4. Cyclotron 24 MeV & Above
10.3. Europe Cyclotron Market Value (US$ Mn) Forecast, by Country/Sub-region, 2018–2030
10.3.1. Germany
10.3.2. U.K.
10.3.3. France
10.3.4. Spain
10.3.5. Italy
10.3.6. Rest of Europe
10.4. Europe Cyclotron Market Attractiveness Analysis
10.4.1. By Application
10.4.2. By Product
10.4.3. By Country/Sub-region
11. Asia Pacific Cyclotron Market Analysis and Forecast
11.1. Asia Pacific Cyclotron Market Value (US$ Mn) Forecast, by Application, 2018–2030
11.1.1. Medical
11.1.2. Industrial
11.2. Asia Pacific Cyclotron Market Value (US$ Mn) Forecast, by Product, 2018–2030
11.2.1. Cyclotron 5-12 MeV
11.2.2. Cyclotron 16-18 MeV
11.2.3. Cyclotron 19-24 MeV
11.2.4. Cyclotron 24 MeV & Above
11.3. Asia Pacific Cyclotron Market Value (US$ Mn) Forecast, by Country/Sub-region, 2018–2030
11.3.1. China
11.3.2. Japan
11.3.3. India
11.3.4. Australia & New Zealand
11.3.5. Rest of Asia Pacific
11.4. Asia Pacific Cyclotron Market Attractiveness Analysis
11.4.1. By Application
11.4.2. By Product
11.4.3. By Country/Sub-region
12. Latin America Cyclotron Market Analysis and Forecast
12.1. Latin America Cyclotron Market Value (US$ Mn) Forecast, by Application, 2018–2030
12.1.1. Medical
12.1.2. Industrial
12.2. Latin America Cyclotron Market Value (US$ Mn) Forecast, by Product, 2018–2030
12.2.1. Cyclotron 5-12 MeV
12.2.2. Cyclotron 16-18 MeV
12.2.3. Cyclotron 19-24 MeV
12.2.4. Cyclotron 24 MeV & Above
12.3. Latin America Cyclotron Market Value (US$ Mn) Forecast, by Country/Sub-region, 2018–2030
12.3.1. Brazil
12.3.2. Mexico
12.3.3. Rest of Latin America Latin America
12.4. Latin America Cyclotron Market Attractiveness Analysis
12.4.1. By Application
12.4.2. By Product
12.4.3. By Country/Sub-region
13. Middle East & Africa Cyclotron Market Analysis and Forecast
13.1.1.
13.2. Middle East & Africa Cyclotron Market Value (US$ Mn) Forecast, by Application, 2018–2030
13.2.1. Medical
13.2.2. Industrial
13.3. Middle East & Africa Cyclotron Market Value (US$ Mn) Forecast, by Product, 2018–2030
13.3.1. Cyclotron 5-12 MeV
13.3.2. Cyclotron 16-18 MeV
13.3.3. Cyclotron 19-24 MeV
13.3.4. Cyclotron 24 MeV & Above
13.4. Middle East & Africa Cyclotron Market Value (US$ Mn) Forecast, by Country/Sub-region, 2018–2030
13.4.1. GCC Countries
13.4.2. South Africa
13.4.3. Rest of Middle East & Africa
13.5. Middle East & Africa Cyclotron Market Attractiveness Analysis
13.5.1. By Application
13.5.2. By Product
13.5.3. By Country/Sub-region
14. Competition Landscape
14.1. Market Player - Competition Matrix (by Tier and Size of companies)
14.2. Market Share / Position Analysis, by Company (2018)
14.3. Competitive Business Strategies
14.4. Company Profiles
14.4.1. Advanced Cyclotron Systems, Inc.
14.4.1.1. Company Overview (HQ, Business Segments, Employee Strength)
14.4.1.2. Growth Strategies
14.4.1.3. SWOT Analysis
14.4.2. Sumitomo Heavy Industries, Ltd.
14.4.2.1. Company Overview (HQ, Business Segments, Employee Strength)
14.4.2.2. Growth Strategies
14.4.2.3. SWOT Analysis
14.4.3. Siemens Healthineers
14.4.3.1. Company Overview (HQ, Business Segments, Employee Strength)
14.4.3.2. Growth Strategies
14.4.3.3. SWOT Analysis
14.4.4. GE Healthcare
14.4.4.1. Company Overview (HQ, Business Segments, Employee Strength)
14.4.4.2. Growth Strategies
14.4.4.3. SWOT Analysis
14.4.5. IBA Radiopharma Solutions
14.4.5.1. Company Overview (HQ, Business Segments, Employee Strength)
14.4.5.2. Growth Strategies
14.4.5.3. SWOT Analysis
14.4.6. Best Cyclotron Systems, Inc.
14.4.6.1. Company Overview (HQ, Business Segments, Employee Strength)
14.4.6.2. Growth Strategies
14.4.6.3. SWOT Analysis
List of Tables
Table 1: Global Cyclotron Market Volume (Installed Units) Forecast, by Product, 2018–2030
Table 2: Typical Cost of Establishing Cyclotron Radiopharmaceutical Center
Table 3: Development of Cyclotron Scaling Factors (Average Cost)
Table 4: Cyclotron and Radiopharmaceutical Facilities by Continent
Table 5: Cyclotron and Radiopharmaceutical Facilities in Asia (2018)
Table 6: Cyclotron and Radiopharmaceutical Facilities in Eastern Europe and Northern Asia
Table 7: Cyclotron and Radiopharmaceutical Facilities in Latin America & Caribbean
Table 8: Cyclotron and Radiopharmaceutical Facilities in Middle East
Table 9: Cyclotron and Radiopharmaceutical Facilities in Africa
Table 10: Number of Cyclotron in High-income Countries
Table 11:Diagnostic Imaging Procedures: Cost Comparison
Table 12: Global Cyclotron Market Value (US$ Mn) Forecast, by Application, 2018–2030
Table 13: Global Cyclotron Market Value (US$ Mn) Forecast, by Product, 2018–2030
Table 14: Global Cyclotron Market Value (US$ Mn) Forecast, by Region, 2018–2030
Table 15: North America Cyclotron Market Value (US$ Mn) Forecast, by Country, 2018–2030
Table 16: North America Cyclotron Market Value (US$ Mn) Forecast, by Application, 2018–2030
Table 17: North America Cyclotron Market Value (US$ Mn) Forecast, by Product, 2018–2030
Table 18: North America Cyclotron Market Volume (Installed Units) Forecast, by Product, 2018–2030
Table 19: Europe Cyclotron Market Value (US$ Mn) Forecast, by Country/Sub-region, 2018–2030
Table 20: Europe Cyclotron Market Value (US$ Mn) Forecast, by Application, 2018–2030
Table 21: Europe Cyclotron Market Value (US$ Mn) Forecast, by Product, 2018–2030
Table 22: Europe Cyclotron Market Volume (Installed Units) Forecast, by Product, 2018–2030
Table 23: Asia Pacific Cyclotron Market Value (US$ Mn) Forecast, by Country/Sub-region, 2018–2030
Table 24: Asia Pacific Cyclotron Market Value (US$ Mn) Forecast, by Application, 2018–2030
Table 25: Asia Pacific Cyclotron Market Value (US$ Mn) Forecast, by Product, 2018–2030
Table 26: Asia Pacific Cyclotron Market Volume (Installed Units) Forecast, by Product, 2018–2030
Table 27: Latin America Cyclotron Market Value (US$ Mn) Forecast, by Country/Sub-region, 2018–2030
Table 28: Latin America Cyclotron Market Value (US$ Mn) Forecast, by Application, 2018–2030
Table 29: Latin America Cyclotron Market Value (US$ Mn) Forecast, by Product, 2018–2030
Table 30: Latin America Cyclotron Market Volume (Installed Units) Forecast, by Product, 2018–2030
Table 31: Middle East & Africa Cyclotron Market Value (US$ Mn) Forecast, by Country/Sub-region, 2018–2030
Table 32: Middle East & Africa Cyclotron Market Value (US$ Mn) Forecast, by Application, 2018–2030
Table 33: Middle East & Africa Cyclotron Market Value (US$ Mn) Forecast, by Product, 2018–2030
Table 34: Middle East & Africa Cyclotron Market Volume (Installed Units) Forecast, by Product, 2018–2030
List of Figures
Figure 1: Global Cyclotron Market Value (US$ Mn) Forecast, 2018–2030
Figure 2: Global Cyclotron Market Value Share, by Product, 2019
Figure 3: Global Cyclotron Market Value Share, by Application, 2019
Figure 04: Global Cyclotron Market Value Share, by Region, 2019
Figure 5: Cyclotron Market Value Share Analysis, by Application, 2019 and 2030
Figure 6: Cyclotron Market Attractiveness Analysis, by Application
Figure 7: Global Cyclotron Market Value (US$ Mn), by Medical Purpose, 2018–2030
Figure 8: Global Cyclotron Market Value (US$ Mn), by Industrial Purpose, 2018–2030
Figure 9: Cyclotron Market Value Share Analysis, by Product, 2019 and 2030
Figure 10: Cyclotron Market Attractiveness Analysis, by Product
Figure 11: Global Cyclotron Market Value (US$ Mn), by Cyclotron 5-12 MeV, 2018–2030
Figure 12: Global Cyclotron Market Value (US$ Mn), Cyclotron 16-18 MeV, 2018–2030
Figure 13: Global Cyclotron Market Value (US$ Mn), by Cyclotron 19-24 MeV, 2018–2030
Figure 14: Global Cyclotron Market Value (US$ Mn), by Cyclotron 24 MeV & Above, 2018–2030
Figure 15: Global Cyclotron Market Value Share Analysis, by Region, 2019 and 2030
Figure 16: Global Cyclotron Market Analysis, by Region
Figure 17: North America Cyclotron Market Value (US$ Mn) Forecast and Y-o-Y Growth (%) Projection, 2018–2030
Figure 18: North America Cyclotron Market Value Share (%), by Country, 2019 and 2030
Figure 19: North America Cyclotron Market Attractiveness Analysis, by Country, 2020–2030
Figure 20: North America Cyclotron Market Value Share (%) Analysis, by Application, 2019 and 2030
Figure 21: North America Cyclotron Market Attractiveness Analysis, by Application, 2020–2030
Figure 22: North America Cyclotron Market Value Share (%) Analysis, by Product, 2019 and 2030
Figure 23: North America Cyclotron Market Attractiveness Analysis, by Product, 2020–2030
Figure 24: Europe Cyclotron Market Value (US$ Mn) Forecast and Y-o-Y Growth (%) Projection, 2018–2030
Figure 25: Europe Cyclotron Market Value Share (%) Analysis, by Country/Sub-region, 2019 and 2030
Figure 26: Europe Cyclotron Market Attractiveness Analysis, by Country/Sub-region, 2020–2030
Figure 27: Europe Cyclotron Market Value Share (%) Analysis, by Application, 2019 and 2030
Figure 28: Europe Cyclotron Market Attractiveness Analysis, by Application, 2020–2030
Figure 29: Europe Cyclotron Market Value Share (%) Analysis, by Product, 2019 and 2030
Figure 30: Europe Cyclotron Market Attractiveness Analysis, by Product, 2020–2030
Figure 31: Asia Pacific Cyclotron Market Value (US$ Mn) Forecast and Y-o-Y Growth (%) Projection, 2018–2030
Figure 32: Asia Pacific Cyclotron Market Value Share (%) Analysis, by Country/Sub-region, 2019 and 2030
Figure 33: Asia Pacific Cyclotron Market Attractiveness Analysis, by Country/Sub-region, 2020–2030
Figure 34: Asia Pacific Cyclotron Market Value Share (%) Analysis, by Application, 2019 and 2030
Figure 35: Asia Pacific Cyclotron Market Attractiveness Analysis, by Application, 2020–2030
Figure 36: Asia Pacific Cyclotron Market Value Share (%) Analysis, by Product, 2019 and 2030
Figure 37: Asia Pacific Cyclotron Market Attractiveness Analysis, by Product, 2020–2030
Figure 38: Latin America Cyclotron Market Value (US$ Mn) Forecast and Y-o-Y Growth (%) Projection, 2018–2030
Figure 39: Latin America Cyclotron Market Value Share (%) Analysis, by Country/Sub-region, 2019 and 2030
Figure 40: Latin America Cyclotron Market Attractiveness Analysis, by Country/Sub-region, 2020–2030
Figure 41: Latin America Cyclotron Market Value Share (%) Analysis, by Application, 2019 and 2030
Figure 42: Latin America Cyclotron Market Attractiveness Analysis, by Application, 2020–2030
Figure 43: Latin America Cyclotron Market Value Share (%) Analysis, by Product, 2019 and 2030
Figure 44: Latin America Cyclotron Market Attractiveness Analysis, by Product, 2020–2030
Figure 45: Middle East & Africa Cyclotron Market Value (US$ Mn) Forecast and Y-o-Y Growth (%) Projection, 2018–2030
Figure 46: Middle East & Africa Cyclotron Market Value Share (%) Analysis, by Country/Sub-region, 2019 and 2030
Figure 47: Middle East & Africa Cyclotron Market Attractiveness Analysis, by Country/Sub-region, 2020–2030
Figure 48: Middle East & Africa Cyclotron Market Value Share (%) Analysis, by Application, 2019 and 2030
Figure 49: Middle East & Africa Cyclotron Market Attractiveness Analysis, by Application, 2020–2030
Figure 50: Middle East & Africa Cyclotron Market Value Share (%) Analysis, by Product, 2019 and 2030
Figure 51: Middle East & Africa Cyclotron Market Attractiveness Analysis, by Product, 2020–2030
Figure 52: Global Cyclotron Market Analysis, by Top Company Ranking, 2019
Figure 53: Company Share Analysis, 2019
Figure 54: Siemens Healthineers AG - Revenue (US$ Mn) and Y-o-Y Growth (%), 2015–2019
Figure 55: Siemens Healthineers AG Breakdown of Net Sales (%), by Region, 2019
Figure 56: Siemens Healthineers AG Breakdown of Net Sales (%), by Business Segment, 2019
Figure 57: GE Healthcare (General Electric Company) - Revenue (US$ Mn) and Y-o-Y Growth (%), 2017–2019
Figure 58: GE Healthcare - Breakdown of Net Sales (%), by Region/Country, 2019
Figure 59: GE Healthcare - Breakdown of Net Sales (%), by Business Segment, 2019
Figure 60: GE Healthcare (General Electric Company) - R&D Expenses (US$ Mn) and Y-o-Y Growth (%), 2017–2019
Figure 61: IBA Radiopharma Solutions Revenue (US$ Mn) and Y-o-Y Growth (%), 2016–2019
Figure 62: IBA Radiopharma Solutions Breakdown of R&D Expenses (US$ Mn) and Y-o-Y Growth (%), 2018–2019
Figure 63: IBA Radiopharma Solutions Breakdown of Net Sales (%), by Business Segment, 2019
Figure 64: Sumitomo Heavy Industries, Ltd. Revenue (US$ Bn) and Y-o-Y Growth (%), 2016–2018
Figure 65: Sumitomo Heavy Industries, Ltd. Breakdown of Net Sales (%), by Key Segment, 2018
Figure 66: Sumitomo Heavy Industries, Ltd. Breakdown of Net Sales (%), by Region/Country, 2018
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Cyclotron Market Trends, 2020-2030
