DUBLIN–(BUSINESS WIRE)–The “Medical Cyclotron Market Forecast to 2027 – COVID-19 Impact and Global Analysis By Type, Capacity, End User, and Geography” report has been added to ResearchAndMarkets.com’s offering.
According to this report the global medical cyclotron market is expected to reach US$ 238.21 million by 2027 from US$ 180.00 million in 2019.
It is estimated to grow at a CAGR of 3.6% from 2020 to 2027. The report highlights trends prevailing in the market, and drivers and hindrances pertaining to the market growth. Factors such as increasing prevalence of cancer and growing inclination toward nuclear scans for accurate diagnosis are likely to drive the market growth during the forecast period. However, the high cost coupled with the procedures and the lack of expertise may hinder the market growth.
Based on capacity, the medical cyclotron market is segmented into 10-12 MeV, 16-18 MeV, 19-24 MeV, and 24 MeV and above. In 2019, the 16-18 MeV segment accounted for the largest share. The demand for medical cyclotron with 16-18 MeV capacity is increasing as it offers maximum capacity and consistent yields. In addition, it utilizes small space and is installed easily and quickly due to its compact size. Therefore, the market for 16-18 MeV segment is expected to grow during the forecast period.
General Electric Company; Varian Medical Systems, Inc; IBA; Sumitomo Heavy Industries, Ltd; Siemens AG; Advanced Cyclotron Systems; isoSolution Inc; ALCEN; Ionetix Corporation, and Best Cyclotron Systems, Inc. are among the leading companies operating in the medical cyclotron market. The companies are adopting inorganic and organic growth strategies to expand their global footprints and product portfolio to meet the rising demands for the medical cyclotron. For instance, in September 2020, IBA and the manufacturer IRE signed a contract for the installation of a cyclotron with an energy of 30 MeV (mega electron volt). Commissioning is scheduled for 2023.
Reasons to Buy
- Save and reduce time carrying out entry-level research by identifying the growth, size, leading players and segments in the medical cyclotron market.
- Highlights key business priorities in order to assist companies to realign their business strategies.
- The key findings and recommendations highlight crucial progressive industry trends in the global medical cyclotron market, thereby allowing players across the value chain to develop effective long-term strategies.
- Develop/modify business expansion plans by using substantial growth offering developed and emerging markets.
- Scrutinize in-depth global market trends and outlook coupled with the factors driving the market, as well as those hindering it.
- Enhance the decision-making process by understanding the strategies that underpin security interest with respect to client products, segmentation, pricing and distribution
Market Dynamics
Drivers
- Increasing Prevalence of Cancer
- Growing Inclination Towards Nuclear Scans for Accurate Diagnosis
Restraints
- High Cost Coupled with the Procedures and the Lack of Practice
Opportunities
- Availability of Technologically Advanced Diagnostic Devices
Future Trends
- Increase in Acceptability of Particle Accelerators
Companies Mentioned
- General Electric Company
- Varian Medical Systems, Inc.
- IBA
- Sumitomo Heavy Industries, Ltd.
- Siemens AG
- Advanced Cyclotron Systems
- isoSolution Inc.
- ALCEN
- Ionetix Corporation
- Best Cyclotron Systems, Inc.
For more information about this report visit https://www.researchandmarkets.com/r/kiqmhd
