Medical Cyclotron Market Detailed Study Of Business Growth, Development FactorsPosted by Pareesh on May 6th, 2019 Medical cyclotron is type of particle accelerator used in diagnosis and treatment of chronic disease such as cancer, cardiovascular disease, and others. Cyclotron comprises a magnet and high electrical voltage, which accelerates charged particles in a spiral motion. The particles collides with a target to produce radioactive isotope due to nuclear reaction. Therefore, medical cyclotron can also be termed as an isotope producing machine. These isotopes are further combined with chemical compounds (mostly glucose) to create injectable radioactive tracers that are used in Positron Emission Tomography (PET) scans and other diagnostic techniques. A PET scan involves injecting a radioactive tracer into the patient’s body. Radiologists utilizes PET imaging techniques to detect the presence of radioactive tracer at specific sites in the body. Cancerous cells use this isotope with glucose as source of energy when PET scan is used in cancer diagnostics. Fast growing cancer cells appear as a glow in images taken by PET scan thereby confirming presence of cancerous cells at the affected site. Radioactive isotopes have short half-life (e.g. Flourine-18 has a half-life of about 110 minutes) that results in immediate decay after their production. Therefore many research and large diagnostic facilities possess assembled in-house medical cyclotron to produce radioactive isotopes for various medical applications. Medical Cyclotron Market - Market Dynamics High prevalence of cancer is expected to be a major factor driving growth of the medical cyclotron market. This is due to the ability of medical cyclotron to detect cancer, observe response of cancer treatments, and check recurrence of the disease using PET scan techniques. For instance, according to World Health Organization (WHO) factsheet in February, cancer is one of leading non-communicable disease and second leading cause of death, worldwide. Moreover, according to a report by International Age for Research on Cancer (IARC) in 2012, around 14.1 million new cases of cancer, along with around 8.8 million death were registered for 2012. The report further stated that around 32.6 million people were suffering from cancer. Moreover, PET scan is widely utilized in treatment of cardiovascular diseases and central nervous system-associated diseases such as Alzheimer’s and Parkinson’s disease. High prevalence of these diseases is a major factor contributing to increasing demand for diagnostics treatments with PET scans, which in turn is expected to propel growth of the medical cyclotron market. Download the PDF brochure: https://www.coherentmarketinsights.com/insight/request-pdf/2039 Furthermore, PET scan can benefits precision medicine and nuclear medicine for chronic disease (finding new radioisotopes and treatment targets) worldwide which would aid medical cyclotron market. Academic research campuses are increasingly adopting to in-house medical cyclotron to boost research in nuclear medicine and radiochemistry research. For instance, in January 2017, University of Chicago installed a new cyclotron research facility at its campus to facilitate research in cancer therapies. However, medical cyclotrons requires huge capital investment that limits its use to a few end users. Moreover, commercial availability of isotopes with long half-life could deter growth for the medical cyclotron market. Medical Cyclotron Market - Regional Insights On the basis of Geography, medical cyclotron market is segmented into North America, Latin America, Europe, Asia Pacific, Middle East, and Africa. North America is projected to hold a dominant position in the medical cyclotron market. The U.S. also has one of the highest prevalence of the cancer in the world which would indirectly create greater need for PET scan and eventually medical cyclotron. According to a report by American Cancer Society, in 2018, cancer is the second leading cause of death after cardio vascular disease. Furthermore, the report projected around 1.7 million new cases of cancer and around half million deaths due to the disease. Such high prevalence of cancer increases the demand for PET scans, which in turn is expected to propel the market growth. For instance, according to Centre for Disease Control statistics 2017, around 2 million PET scans are conducted in the U.S, annually. High prevalence of non-communicable diseases in emerging economies in Asia Pacific is expected to increase healthcare spending in the region and increasing utilization and development in nuclear medicine and its adaptation. For instance, International Atomic Energy Association (IAEA), in 2017 collaborated with European Association of Nuclear Medicine (EANM) to facilitate nuclear medicine professionals with training courses, educational materials and quality infrastructure for nuclear medicine and hybrid imaging. Medical Cyclotron Market - Competitive Landscape Key players operating in the medical cyclotron market include, IBA, Advanced Cyclotron Systems, Inc., GE Healthcare, Siemens Healthineers USA, Inc., Sumitomo Heavy Industries, Ltd., and Best Cyclotron Solutions Inc. Key players are focused on launching advanced and reliable medical cyclotron products to expand their market share. For instance, in 2016, IBA launched –Cyclone KIUBE—at the 2016 Society of Nuclear Medicine and Molecular Imaging (SNMMI) annual meeting in San Diego, California, U.S. It is an 18 MeV fixed energy cyclotron with compact design and is cost-effective as it provides production of almost all possible radioisotopes used currently in PET scan diagnostic. About Coherent Market Insights: Coherent Market Insights is a prominent market research and consulting firm offering action-ready syndicated research reports, custom market analysis, consulting services, and competitive analysis through various recommendations related to emerging market trends, technologies, and potential absolute dollar opportunity. Contact Us: Mr.Shah Like it? Share it! More by this author |