Global Cyclotron Service Market: Overview
- Cyclotron is a class of devices that accelerates charged atomic or subatomic particles in a constant magnetic field. A cyclotron consists of two hollow semicircular electrodes, called dees, mounted back to back and separated by a narrow gap, in an evacuated chamber between the poles of a magnet. An electric field, alternating in polarity, is created in the gap by a radio-frequency oscillator. Nowadays, modern cyclotron is used for radiation therapy and as well as producing radioisotopes such as Fluorine-18, Carbon-11.
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- The main use of cyclotrons in the field of medical that it can issued in particle therapy to treat cancer and it can used as proton therapy to kill tumors by radiation damage
- Demand for global cyclotron services is projected to expand at a significant pace during the forecast period, owing to increase in incidence of cancer cases resulting in boosting the usage of cyclotron machine in diagnosis
Key Drivers of Global Cyclotron Service Market
- Medical cyclotrons are used worldwide for production of radioisotopes and these radioisotopes are necessary for radionuclide therapy. Rise in awareness about effective use of radiopharmaceuticals drugs is one of the important factors, which is likely to drive the demand for cyclotron machines, thereby boosting its associate services.
- Moreover, the cyclotron production of radioisotopes for medical applications is gaining increased significance in diagnostic molecular imaging techniques such as PET and SPECT. This is likely to drive the market.
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Restraints of Global Cyclotron Service Market
- Production, storage, and usage of radioisotopes require proper precautions because radioisotopes generate radiation which can affect mass population and the environment. Approval from the Food and Drug Administration, Medicines and Healthcare Products Regulatory Agency is mandatory for any usage, storage, or production of radioisotopes.
- According to the Nuclear Regulatory Commission, approximately 6,000 licenses are maintained for the use of radioactive materials; violation of agreement leads to enforcement actions, including loss of license. Such stringent regulation guideline could limit the number of cyclotron production.
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North America to Account for Major Share of Global Cyclotron Service Market
- Increase in access to health care, rise in incidence of cancer patients, and rapid introduction of advanced technological implementations in SPECT and PET systems are some factors that likely to drive the market in North America
- Moreover, the cyclotron service market in the U.S. is estimated to be the largest market, owing to vast number of installations of new cyclotron facilities for radiopharmaceutical production; According to Estimation from IAEA, Scientific Journals, at present more than 250 cyclotron machines are fixed in the U.S.
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Key Players Operating in Global Cyclotron Service Market
Major players operating in the global cyclotron service market are:
- IBA
- GE Healthcare
- Ameriphysics
- Siemens Healthineers
- Mallinckrodt Institute of Radiology
- Koninklijke Philips N.V
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