According to analysis done by analysts at FutureWise the global market for medical cyclotron to reach US$ 154.3 million in 2022, and is projected to expand by a CAGR for 6.3% over the forecast period i.e., 2023-2031.
A medical cyclotron is a type of particle accelerator used to diagnose and treat chronic conditions such as cancer and heart disease. A cyclotron is a device that uses a magnet and a high electrical voltage to spirally accelerate charged particles. When particles collide with a target, nuclear reactions occur, producing radioactive isotopes. Because radioactive isotopes have a short half-life (for example, Flourine-18 has a half-life of approximately 110 minutes), they decay quickly after they are created. As a result, several research and diagnostic institutes have constructed their own medical cyclotrons to produce radioactive isotopes for a variety of medical applications. The cyclotron generates radioactive atoms that have a short half-life and are used in medical imaging and research. As a result, medical cyclotrons are also known as isotope-producing machines. Chemical compounds (typically glucose) are combined with these isotopes to create injectable radioactive tracers for Positron Emission Tomography (PET) scans and other diagnostic techniques. A radioactive tracer is injected into the patient's body during a PET scan.
In recent years, Functional or metabolic imaging has replaced traditional anatomic imaging. High-resolution images of the location of radionuclides that release positrons in the body are produced by the diagnostic technique known as positron emission tomography (PET). It is well-recognised that diseased cells first experience functional abnormalities before they undergo structural alterations. Early functional change identification aids in developing the best treatment plans, which ultimately results in a marked decrease in morbidity and death. With half-lives ranging from a few minutes to a few hours, ultra-short-lived radioisotopes are used in PET. A particle accelerator known as the Medical Cyclotron must be used to create these isotopes. Medical cyclotrons are circular accelerators that accelerate charged particles to high speeds in a vacuum tank before bombarding a particular target material. Although the cyclotron can speed up both positively and negatively charged particles, negative ion cyclotrons are typically used to create positron-emitting radionuclides around the world. There are now about 25 medical cyclotron facilities in India. Several more cyclotrons and PET/computerized tomography (CT) facilities are being planned and are anticipated to be operational soon.
FutureWise Market Research has published a report that provides an insightful analysis of medical cyclotron market trends that are affecting the overall market growth. This report will provide a detailed analysis of market share, regional insights, and competitor analysis that includes stature of key manufacturers operational in this industry. According to the analysis conducted by FutureWise research analysts, the medical cyclotron market is estimated to register a considerable growth rate over the forecast period. This report lists the market segments and potential prospects available across this industry, in addition providing crucial information on the total valuation currently held by the industry. Moreover, this report will assist key management individuals in an organisation to enhance their decisions pertaining to business expansion as well as strategic changes for increasing customer base.