The medical cyclotron market is driven by the growing demand for medical isotopes used in nuclear medicine imaging and therapy. The increasing prevalence of cancer and cardiovascular diseases has led to the expansion of the nuclear medicine industry, driving the demand for medical cyclotrons. The development of new radioisotopes and radiopharmaceuticals has also increased the demand for medical cyclotrons, as they are used to produce these isotopes. Additionally, the growing investments in research and development for the advancement of nuclear medicine technology and the increasing adoption of molecular imaging techniques have further boosted the market growth. However, the high cost of cyclotron equipment and the stringent regulatory environment are some of the challenges faced by the market.
The global Medical Cyclotron Market is estimated to be valued at US$ 212.0 million in 2021 and expected to exhibit a CAGR of 8.3% over the forecast period (2021-2028).
Leading Companies in the Medical Cyclotron Industry:
1. IBA Radiopharma Solutions
IBA Radiopharma Solutions is a radiopharmaceutical company that was founded in 1986 in Belgium. The company provides radiopharmaceutical products and services for the diagnosis and treatment of cancer and other diseases. Its headquarters are currently located in Louvain-la-Neuve, Belgium, and the company operates in over 30 countries worldwide. In October, 2022 IBA (Ion Beam Applications S.A., EURONEXT), the world leader in particle accelerator technology and the world’s leading provider of radiopharmaceutical production solutions, Novatec International and ElsMed Healthcare Solutions, the leading Israeli medical-technological company, announced that they have signed a contract for the installation of an integrated radiopharmaceutical production facility in Tbilisi, Georgia.
2. Advanced Cyclotron Systems
Advanced Cyclotron Systems is a medical technology company that was founded in 1997 in Canada. The company specializes in the development and manufacturing of cyclotron systems for the production of medical isotopes for nuclear medicine applications. Its headquarters are located in Richmond, British Columbia, Canada, and the company operates in over 20 countries worldwide.
3. Best Cyclotron Systems, Inc.
Best Cyclotron Systems, Inc. is a medical technology company that was founded in 2011 in South Korea. The company provides cyclotron systems and other equipment for the production of medical isotopes for nuclear medicine applications. Its headquarters are currently located in Daejeon, South Korea, and the company operates in over 20 countries worldwide.
4. Best ABT Molecular Imaging, Inc.
Best ABT Molecular Imaging, Inc. is a medical technology company that was founded in 2006 in the United States. The company specializes in the development and manufacturing of molecular imaging devices for nuclear medicine applications. Its headquarters are currently located in Knoxville, Tennessee, United States, and the company operates in over 30 countries worldwide.
5. Siemens Healthineers
Siemens Healthineers is a global medical technology company that was founded in 1847 in Germany. The company provides a range of medical devices and services, including diagnostic imaging systems, laboratory diagnostics, and clinical IT solutions. Its headquarters are currently located in Erlangen, Germany, and the company operates in over 70 countries worldwide. In February 28, 2023, Siemens Healthineers signed a global OEM agreement on hemostasis products with Sysmex Corporation under which each company will supply the other with their products in the diagnostic field of hemostasis on an OEM basis.
6. GE Healthcare
GE Healthcare is a medical technology company that was founded in 1892 in the United States. The company provides a range of medical devices and services, including diagnostic imaging systems, patient monitoring systems, and anesthesia delivery systems. Its headquarters are currently located in Chicago, Illinois, United States, and the company operates in over 160 countries worldwide. In August, 2022 GE Healthcare, a leading global medical technology, diagnostics and digital solutions innovator, today announced its collaboration with Boston Scientific, a global medical device manufacturer, to provide end-to-end innovative interventional cardiac care solutions in India.
7. IONETIX Corporation
IONETIX Corporation is a radiopharmaceutical company that was founded in 2005 in the United States. The company specializes in the development and manufacturing of radiopharmaceutical products for nuclear medicine applications. Its headquarters are currently located in Lansing, Michigan, United States, and the company operates in the United States. In March, 2023 IONETIX, a leading Cardiac PET solutions and isotope manufacturing company, is excited to announce our expanded partnership with Center for Imaging and Research of America (CIRA) in Sarasota with the opening of their new PET/CT imaging facility utilizing N-13 Ammonia manufactured by IONETIX. CIRA has been a leading independent imaging provider serving the Florida market for over twenty years, bringing cutting edge diagnostics to the community.
8. PMB-ALCEN
PMB-ALCEN is a French company that was founded in 1990. The company specializes in the development and manufacturing of cyclotron systems for the production of medical isotopes for nuclear medicine applications. Its headquarters are located in Grenoble, France, and the company operates in over 20 countries worldwide.
9. Sumitomo Heavy Industries, Ltd.
Sumitomo Heavy Industries, Ltd. is a Japanese company that was founded in 1888. The company provides a range of industrial and engineering products and services, including cyclotron systems for the production of medical isotopes for nuclear medicine applications. Its headquarters are located in Tokyo, Japan, and the company operates in over 30 countries worldwide. In March, 2023 Sumitomo Heavy Industries, Ltd. invests in Alpha Fusion Inc., developer of Astatine based radiopharmaceuticals for Targeted Alpha Therapy.
10. The Japan Steel Works, Ltd.
The Japan Steel Works, Ltd. is a Japanese company that was founded in 1907. The company provides a range of industrial products and services, including cyclotron systems for the production of medical isotopes for nuclear medicine applications. Its headquarters are located in Tokyo, Japan, and the company operates in over 20 countries worldwide.
*Definition- A medical cyclotron is a type of particle accelerator that is used in the production of medical isotopes, which are used in nuclear medicine imaging and therapy.
