DUBLIN--(BUSINESS WIRE)--The "Medical Cyclotron Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Type [Ring Cyclotron, and Azimuthally Varying Field], Capacity, and End User" report has been added to ResearchAndMarkets.com's offering.
The global medical cyclotron market is expected to grow from US$ 202.34 million in 2022 to US$ 332.49 million by 2028; it is estimated to grow at a CAGR of 8.6% from 2022 to 2028.
The rising research and development activities in radiology for the development of cancer therapeutics and diagnostics for cancer, cardiovascular diseases, and other conditions are contributing to the growth of the medical cyclotron market. However, the high cost of procedures and lack of expertise are restricting the growth of the medical cyclotron market.
Cyclotron therapy is commonly used to treat several types of cancer. The prevalence of cancer is increasing every year. Proton beam therapy is used to treat tumors that do not spread in the body and, thus, do not require brain surgery. The procedure is suitable for children as it prevents harm to healthy, growing tissues.
Furthermore, it is used to treat eye cancers such as orbital rhabdomyosarcoma and retinoblastoma. Radiotherapy is a scientifically sophisticated way to diagnose and treat cancer. According to the National Cancer Institute, the US government spent US$ 208.9 billion on cancer treatment in 2020 The increase in the development of artificial radionuclides, the surge in the number of therapies, and the rise in the prevalence of cancer are driving the growth of medical cyclotron market.
Based on type, the medical cyclotron market is segmented into ring cyclotron and azimuthally varying fields (AVF). The ring cyclotron segment to hold the largest share of the market in 2022. The same segment is estimated to register the highest CAGR during 2022-2028.
The comparative company analysis evaluates and categorizes the medical cyclotron market based on product portfolio (product satisfaction, product features, and availability), recent market developments (merger & acquisition, new product launch & enhancement, investment & funding, award, agreement, collaboration, & partnership, recognition, and expansion) and geographic presence that aids businesses in better decision making and understanding the competitive landscape.
The key company initiating a distinct growth strategy will have a high potential to grow the global medical cyclotron market. Competitive growth strategies in terms of markets help the vendor define an alignment or fit between their capabilities and opportunities for future growth prospects.
Companies Mentioned
- General Electric Company
- Best ABT Molecular Imaging, Inc.
- IBA
- Sumitomo Heavy Industries, Ltd.
- Siemens AG
- Advanced Cyclotron Systems
- ISOSOLUTION
- ALCEN
- IONETIX Corporation
- Best Cyclotron System, Inc.
For more information about this report visit https://www.researchandmarkets.com/r/4v7hi6
