Market Overview

The global Medical Cyclotron Market was valued at USD 247.5 Million in 2024 and is projected to reach USD 478.3 Million by 2033. The market is expected to grow at a CAGR of 7.22% during the forecast period of 2025-2033. Key growth drivers include the rising demand for diagnostic imaging such as PET scans, advances in radiopharmaceuticals, expanding healthcare infrastructures, and supportive government policies.

Study Assumption Years

• Base Year: 2024

• Historical Years: 2019-2024

• Forecast Period: 2025-2033

Medical Cyclotron Market Key Takeaways

• The global medical cyclotron market size was valued at USD 247.5 Million in 2024.

• The market is projected to exhibit a CAGR of 7.22% from 2025 to 2033.

• Asia Pacific dominated the market in 2024 due to expanding healthcare infrastructure and increasing cancer prevalence.

• Demand for diagnostic imaging procedures, especially PET scans, is a primary growth driver.

• Technological innovations including FDA certification for compact cyclotrons supporting decentralized isotope production are enhancing market adoption.

• Hospitals are the largest end-users, reflecting growing in-house radioisotope production to improve efficiency and reduce costs.

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Market Growth Factors

The medical cyclotron market is growing steadily due to the increasing incidence of cancer and cardiovascular diseases worldwide, which intensifies the demand for early and accurate diagnostic imaging tools like Positron Emission Tomography (PET) scans. In 2022 alone, 9.7 million deaths were attributed to cancer globally, emphasizing the critical role of cyclotrons in producing high-quality radioisotopes for diagnosis. The rising prevalence of chronic diseases such as cardiovascular and neurological disorders further expands the demand for reliable and efficacious radiopharmaceuticals, directly driving market growth.

Advancements in radiopharmaceuticals have significantly enhanced diagnostic and therapeutic capabilities, broadening their applications beyond oncology to include cardiology and neurology. The radiopharmaceutical market reached USD 5.8 Billion in 2024 and is expected to grow to USD 8.9 Billion by 2033, with a CAGR of 4.9% during the forecast period. Integration of AI and machine learning is accelerating novel compound development, thereby spurring demand for new and diverse radioisotopes produced by medical cyclotrons.

Expanding healthcare infrastructure across emerging economies robustly supports the market expansion. For example, India has a comprehensive network of healthcare facilities, including over 169,000 Sub-Centres and more than 360 Medical Colleges. Investments from both private and public sectors focus on enhancing diagnostic imaging capacity, with a notable rise in PET and PET-CT centers in hospitals and diagnostic clinics. Moreover, favorable government initiatives and funding increase accessibility to sophisticated diagnostics and radiopharmaceuticals, underpinning long-term market growth.

Market Segmentation

By Type:

• Ring Cyclotron: Holds the largest market share in 2024 due to superior ability in producing high-energy radioisotopes vital for advanced diagnostics like PET. Known for continuous particle acceleration, it yields high purity isotopes efficiently for large-scale medical use across oncology, cardiology, and neurology.

• Azimuthally Varying Field (AVF) Cyclotron: Not described with specific data; hence omitted.

By Product Type:

• Cyclotron 16-18 MeV: Led the market in 2024 because of an optimal balance between production capacity and operational efficiency. It efficiently produces Fluorine-18, an essential isotope for PET imaging. These cyclotrons are cost-effective and support diverse diagnostics and therapies, preferred by large hospitals and commercial radiopharmacies.

By End User:

• Hospitals: Dominant end user segment in 2024, using cyclotrons to produce radioisotopes critical for PET and SPECT imaging to diagnose and monitor cancer, cardiovascular and neurological diseases. In-house isotope production reduces reliance on external suppliers and enhances operational efficiency.

Regional Insights

Asia Pacific held the largest share of the medical cyclotron market in 2024. The region benefits from expanding healthcare infrastructure, particularly in China, Japan, and India, along with increasing government investments and supportive policies driving cyclotron adoption. Rising prevalence of cancer and chronic diseases, alongside active research and local manufacturing, further propels growth. This dominance is underpinned by robust diagnostic and therapeutic technology uptake and increased PET scan utilization.

Recent Developments & News

• February 2025: The Nagpur State Government announced plans to build a cyclotron center to enhance early cancer detection and nuclear research applications.

• February 2025: Framatome partnered with IBA to develop industrial-scale production of the alpha-emitting radioisotope Astatine-211 in the US and Europe.

• November 2024: The National Institute of Science Education and Research (NISER) in Bhubaneswar planned to start a medical cyclotron facility for manufacturing isotopes used in PET CT and SPECT-CT imaging.

• October 2024: The African Medical Centre of Excellence (AMCE) announced plans to establish a cyclotron facility in Abuja for diagnosing and treating complex diseases such as cancer and cardiovascular and neurological conditions.

Key Players

• Advanced Cyclotron Systems Inc.

• Alcen

• Best Medical International Inc.

• General Electric Company

• IBA RadioPharma Solutions

• Ionetix Corporation

• Isosolution Inc.

• Siemens AG

• Sumitomo Heavy Industries Ltd.

• Varian Medical Systems Inc.

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