Medical Cyclotron Market Size, Share, Growth and Trend Analysis Report
by Susan Hill Business ConsultantThe
global medical cyclotron market size is expected to reach USD
284.3 million by 2025, according to a new report by Grand View Research, Inc.,
registering a CAGR of 10.9% during the forecast period. Increasing prevalence
of cancer and surging demand for nuclear scans for accurate diagnosis are among
the key factors stimulating the growth of the market. Apart from this, cost
advantage over outsourced radioactive tracers and availability of
technologically advanced diagnostic devices such as PET and SPECT are playing a
pivotal role to escalate market growth.
Cancer is
becoming the global pandemic as it causes one in eight deaths worldwide.
According to the International Agency for Research on Cancer (IARC), in 2012,
there were about 14.1 million new cancer cases and 8.2 million deaths due to
cancer. With continuous increase in the incidence of chronic diseases, the number
of new cancer cases is anticipated to reach 21.7 million and result in 13
million deaths by 2030. Due to mounting cases of cancer, the need for accurate
diagnostics is increasing, which is estimated to fuel the demand for medical
cyclotrons.
Nuclear
scans for diagnosis use a smaller amount of radioactive material. Nuclear
tracers help to find the exact location of growing tumors. Technetium-99m
(Tc-99m), strontium, thallium, gallium, and radioactive iodine are some of the
radioactive materials used in diagnosis and treatment of tumor. Increase in
acceptability of particle accelerators for manufacturing tracer material is
projected to trigger the growth of the market over the forecast period.
Further Key
Findings from the Report Suggest:
- Asia Pacific
held the leading share of about 50.0% in 2016, due to spiraling demand for
nuclear scans, rising cancer prevalence, and increasing demand for
cost-effective diagnosis
- North America
was estimated to be the second-largest market in terms of revenue, valued
at USD 26.4 million in 2016
- The cyclotron
10-12 MeV segment is anticipated to post a CAGR of 10.6% between 2017 and
2025
- Some of the key
players are IBA; GE Healthcare; Siemens Medical Solutions USA, Inc.;
Advanced Cyclotron Systems; Sumitomo Heavy Industries, Ltd.; and TeamBest.
Access full
research report on global medical cyclotron market:
www.grandviewresearch.com/industry-analysis/medical-cyclotron-market
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Created on Sep 5th 2019 08:45. Viewed 371 times.