Asia Pacific Medical Cyclotron Market to Grow at a CAGR of 4.2% to reach US$ 51.45 million from 2020 to 2027
The Asia Pacific medical cyclotron market is expected to reach US$ 51.45 million to 2027 from US$ 37.34 million in 2019, it is estimated to grow with a CAGR of 4.2% from 2020 to 2027.
The growth of the market is attributed to key driving factors such as increasing prevalence of cancer and growing inclination toward nuclear scans for accurate diagnosis. However, the high cost coupled with the procedures hinder the market growth.
A cyclotron is an electrically powered machine that produces a beam of charged particles for industrial, research, and medical purposes. In medical applications, cyclotrons have rays that are used to manufacture radioisotopes for medical imaging. Various medical cyclotrons are being used for the production of SPECT and Positron Emission Tomography (PET) isotopes used for therapeutic and other medical applications. Cyclotrons can be used in particle therapy to treat cancer by penetrating ion beams inside the body to remove tumors with radiation. Besides, proton beam therapy is used to treat tumors that do not spread in the body and, thus, do not require surgery. The prevalence of cancer is increasing every year. As per estimates by the Globocan 2018: India Factsheet, there were 1,157,294 new cancer cases and 784,821 cancer deaths in 2018. Increasing prevalence of chronic diseases like cancer, rising development of artificial radionuclides, and surging number of cancer treatment therapies are driving the Asia Pacific medical cyclotrons market.
Amid the COVID-19 outbreak, the demand for medical cyclotrons is declined as patients are at higher risk of exposure. In Asia Pacific, healthcare facilities are limiting or cancelling surgeries and sometimes screenings or other treatments if it is not recognized as a life-threatening condition. Therefore, the outbreak is likely to restrain the growth of the Asia Pacific medical cyclotron market.
Asia Pacific Medical CyclotronMarketRevenue and Forecast to 2027 (US$ Mn)
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Asia PacificMedical Cyclotron MarketSegmentation
By Type
- Ring Cyclotron
- Azimuthally Varying Field (AVF)
By Capacity
- 10-12 MeV
- 16-18 MeV
- 19-24 MeV
- 24 MeV and Above
By End User
- Hospitals
- Specialized Clinics
- Pharmaceutical Companies
- Other End User
By Country
- China
- Japan
- India
- Australia
- South Korea
- Rest of Asia Pacific
Company Profiles
- General Electric Company
- Varian Medical Systems, Inc
- IBA
- Sumitomo Heavy Industries, Ltd.
- Siemens AG
- Advanced Cyclotron Systems
- isoSolution Inc
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
Type , Capacity, End User, and Country
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
Australia, China, Japan, South Korea
1. Introduction
1.1 Scope of the Study
1.2 The Insight Partners Research Report Guidance
1.3 Market Segmentation
1.3.1 Asia Pacific Medical Cyclotron Market – By Type
1.3.2 Asia Pacific Medical Cyclotron Market – By Capacity
1.3.3 Asia Pacific Medical Cyclotron Market – By End User
1.3.4 Asia Pacific Medical Cyclotron Market – By Country
2. Medical Cyclotron Market – Key Takeaways
3. Research Methodology
3.1 Coverage
3.2 Secondary Research
3.3 Primary Research
4. Medical Cyclotron Market – Market Landscape
4.1 Overview
4.2 PEST Analysis
4.2.1 Asia Pacific– PEST Analysis
4.3 Expert Opinion
5. Medical Cyclotron Market – Key Market Dynamics
5.1 Market Drivers
5.1.1 Increasing Prevalence of Cancer
5.1.2 Growing Inclination Toward Nuclear Scans for Accurate Diagnosis
5.2 Market Restraints
5.2.1 High Cost of Procedures and Lack of Expertise
5.3 Market Opportunities
5.3.1 Availability of Technologically Advanced Diagnostic Devices
5.4 Future Trends
5.4.1 Rise in Acceptance for Particle Accelerators
5.5 Impact Analysis
6. Medical Cyclotron Market – Asia Pacific Analysis
6.1 Asia Pacific Medical Cyclotron Market Revenue Forecast And Analysis
7. Medical Cyclotron Market– By Type
7.1 Overview
7.2 Medical Cyclotron Market Share, by Type, 2019 and 2027 (%)
7.3 Ring Cyclotron
7.3.1 Overview
7.3.2 Ring Cyclotron: Medical Cyclotron Market– Revenue and Forecast to 2027 (USD Million)
7.4 Azimuthally Varying Field (AVF)
7.4.1 Overview
7.4.2 Azimuthally Varying Field (AVF): Medical Cyclotron Market– Revenue and Forecast to 2027 (USD Million)
8. Medical Cyclotron Market– By Capacity
8.1 Overview
8.2 Medical Cyclotron Market Share, by Capacity, 2019 and 2027 (%)
8.3 10-12 MeV
8.3.1 Overview
8.3.2 10-12 MeV: Medical Cyclotron Market– Revenue and Forecast to 2027 (USD Million)
8.4 16-18 MeV
8.4.1 Overview
8.4.2 16-18 MeV: Medical Cyclotron Market– Revenue and Forecast to 2027 (USD Million)
8.5 19-24 MeV
8.5.1 Overview
8.5.2 19-24 MeV: Medical Cyclotron Market– Revenue and Forecast to 2027 (USD Million)
8.6 24 MeV and Above
8.6.1 Overview
8.6.2 24 MeV and Above: Medical Cyclotron Market– Revenue and Forecast to 2027 (USD Million)
9. Medical Cyclotron Market– By End User
9.1 Overview
9.2 Medical Cyclotron Market Share, by End User, 2019 and 2027 (%)
9.3 Hospitals
9.3.1 Overview
9.3.2 Hospitals: Medical Cyclotron Market– Revenue and Forecast to 2027 (USD Million)
9.4 Specialized Clinics
9.4.1 Overview
9.4.2 Specialized Clinics: Medical Cyclotron Market– Revenue and Forecast to 2027 (USD Million)
9.5 Pharmaceutical Companies
9.5.1 Overview
9.5.2 Pharmaceutical Companies: Medical Cyclotron Market– Revenue and Forecast to 2027 (USD Million)
9.6 Other End Users
9.6.1 Overview
9.6.2 Others: Medical Cyclotron Market– Revenue and Forecast to 2027 (USD Million)
10. Medical Cyclotron Market – Asia Pacific Analysis
10.1 Asia Pacific: Medical Cyclotron Market
10.1.1 Overview
10.1.2 Asia Pacific: Medical Cyclotron Market - Revenue and Forecast to 2027 (USD Million)
10.1.3 Asia Pacific: Medical Cyclotron Market, by Type, 2018–2027 (USD Million)
10.1.4 Asia Pacific: Medical Cyclotron Market, by Capacity – Revenue and Forecast to 2027 (USD Million)
10.1.5 Asia Pacific: Medical Cyclotron Market, by End-User – Revenue and Forecast to 2027 (USD Million)
10.1.6 Asia Pacific: Medical Cyclotron Market, by Country, 2019 & 2027 (%)
10.1.7 China: Medical Cyclotron Market – Revenue and Forecast to 2027 (USD Million)
10.1.7.1 China: Medical Cyclotron Market – Revenue and Forecast to 2027 (USD Million)
10.1.7.2 China: Medical Cyclotron Market, by Type, 2018–2027 (USD Million)
10.1.7.3 China: Medical Cyclotron Market, by Capacity – Revenue and Forecast to 2027 (USD Million)
10.1.7.4 China: Medical Cyclotron Market, by End-User – Revenue and Forecast to 2027 (USD Million)
10.1.8 Japan: Medical Cyclotron Market – Revenue and Forecast to 2027 (USD Million)
10.1.8.1 Japan: Medical Cyclotron Market – Revenue and Forecast to 2027 (USD Million)
10.1.8.2 Japan: Medical Cyclotron Market, by Type, 2018–2027 (USD Million)
10.1.8.3 Japan: Medical Cyclotron Market, by Capacity – Revenue and Forecast to 2027 (USD Million)
10.1.8.4 Japan: Medical Cyclotron Market, by End-User – Revenue and Forecast to 2027 (USD Million)
10.1.9 India: Medical Cyclotron Market – Revenue and Forecast to 2027 (USD Million)
10.1.9.1 India: Medical Cyclotron Market – Revenue and Forecast to 2027 (USD Million)
10.1.9.2 India: Medical Cyclotron Market, by Type, 2018–2027 (USD Million)
10.1.9.3 India: Medical Cyclotron Market, by Capacity – Revenue and Forecast to 2027 (USD Million)
10.1.9.4 India: Medical Cyclotron Market, by End-User – Revenue and Forecast to 2027 (USD Million)
10.1.10 South Korea: Medical Cyclotron Market – Revenue and Forecast to 2027 (USD Million)
10.1.10.1 South Korea: Medical Cyclotron Market – Revenue and Forecast to 2027 (USD Million)
10.1.10.2 South Korea: Medical Cyclotron Market, by Type, 2018–2027 (USD Million)
10.1.10.3 South Korea: Medical Cyclotron Market, by Capacity – Revenue and Forecast to 2027 (USD Million)
10.1.10.4 South Korea: Medical Cyclotron Market, by End-User – Revenue and Forecast to 2027 (USD Million)
10.1.11 Australia: Medical Cyclotron Market – Revenue and Forecast to 2027 (USD Million)
10.1.11.1 Australia: Medical Cyclotron Market – Revenue and Forecast to 2027 (USD Million)
10.1.11.2 Australia: Medical Cyclotron Market, by Type, 2018–2027 (USD Million)
10.1.11.3 Australia: Medical Cyclotron Market, by Capacity – Revenue and Forecast to 2027 (USD Million)
10.1.11.4 Australia: Medical Cyclotron Market, by End-User – Revenue and Forecast to 2027 (USD Million)
10.1.12 Rest of Asia-Pacific: Medical Cyclotron Market – Revenue and Forecast to 2027 (USD Million)
10.1.12.1 Rest of Asia-Pacific: Medical Cyclotron Market – Revenue and Forecast to 2027 (USD Million)
10.1.12.2 Rest of Asia-Pacific: Medical Cyclotron Market, by Type, 2018–2027 (USD Million)
10.1.12.3 Rest of Asia-Pacific: Medical Cyclotron Market, by Capacity – Revenue and Forecast to 2027 (USD Million)
10.1.12.4 Rest of Asia-Pacific: Medical Cyclotron Market, by End-User – Revenue and Forecast to 2027(USD Million)
11. Impact Of COVID-19 Pandemic On Asia Pacific Medical Cyclotron Market
11.1 Asia-Pacific: Impact Assessment of COVID-19 Pandemic
12. COMPANY PROFILES
12.1 General Electric Company
12.1.1 Key Facts
12.1.2 Business Description
12.1.3 Products and Services
12.1.4 Financial Overview
12.1.5 SWOT Analysis
12.1.6 Key Developments
12.2 Varian Medical Systems, Inc.
12.2.1 Key Facts
12.2.2 Business Description
12.2.3 Products and Services
12.2.4 Financial Overview
12.2.5 SWOT Analysis
12.2.6 Key Developments
12.3 IBA
12.3.1 Key Facts
12.3.2 Business Description
12.3.3 Products and Services
12.3.4 Financial Overview
12.3.5 SWOT Analysis
12.3.6 Key Developments
12.4 Sumitomo Heavy Industries, Ltd.
12.4.1 Key Facts
12.4.2 Business Description
12.4.3 Products and Services
12.4.4 Financial Overview
12.4.5 SWOT Analysis
12.4.6 Key Developments
12.5 Siemens AG
12.5.1 Key Facts
12.5.2 Business Description
12.5.3 Products and Services
12.5.4 Financial Overview
12.5.5 SWOT Analysis
12.5.6 Key Developments
12.6 Advanced Cyclotron Systems
12.6.1 Key Facts
12.6.2 Business Description
12.6.3 Products and Services
12.6.4 Financial Overview
12.6.5 SWOT Analysis
12.6.6 Key Developments
12.7 isoSolution Inc.
12.7.1 Key Facts
12.7.2 Business Description
12.7.3 Products and Services
12.7.4 Financial Overview
12.7.5 SWOT Analysis
12.7.6 Key Developments
13. Appendix
13.1 Glossary of Terms
LIST OF TABLES
Table 1. Asia Pacific Medical Cyclotron Market, by Type– Revenue and Forecast to 2027 (USD Million)
Table 2. Asia Pacific: Medical Cyclotron Market, by Capacity – Revenue and Forecast to 2027 (USD Million)
Table 3. Asia Pacific: Medical Cyclotron Market, by End-User – Revenue and Forecast to 2027 (USD Million)
Table 4. China: Medical Cyclotron Market, by Type – Revenue and Forecast to 2027 (USD Million)
Table 5. China: Medical Cyclotron Market, by Capacity – Revenue and Forecast to 2027 (USD Million)
Table 6. China: Medical Cyclotron Market, by End-User – Revenue and Forecast to 2027 (USD Million)
Table 7. Japan Medical Cyclotron Market, by Type – Revenue and Forecast to 2027 (USD Million)
Table 8. Japan: Medical Cyclotron Market, by Capacity – Revenue and Forecast to 2027 (USD Million)
Table 9. Japan: Medical Cyclotron Market, by End-User – Revenue and Forecast to 2027 (USD Million)
Table 10. India Medical Cyclotron Market, by Type – Revenue and Forecast to 2027 (USD Million)
Table 11. India: Medical Cyclotron Market, by Capacity – Revenue and Forecast to 2027 (USD Million)
Table 12. India: Medical Cyclotron Market, by End-User – Revenue and Forecast to 2027 (USD Million)
Table 13. South Korea Medical Cyclotron Market, by Type – Revenue and Forecast to 2027 (USD Million)
Table 14. South Korea: Medical Cyclotron Market, by Capacity – Revenue and Forecast to 2027 (USD Million)
Table 15. South Korea: Medical Cyclotron Market, by End-User – Revenue and Forecast to 2027 (USD Million)
Table 16. Australia Medical Cyclotron Market, by Type – Revenue and Forecast to 2027 (USD Million)
Table 17. Australia: Medical Cyclotron Market, by Capacity – Revenue and Forecast to 2027 (USD Million)
Table 18. Australia: Medical Cyclotron Market, by End-User – Revenue and Forecast to 2027 (USD Million)
Table 19. Rest of Asia-Pacific Medical Cyclotron Market, by Type – Revenue and Forecast to 2027 (USD Million)
Table 20. Rest of Asia-Pacific: Medical Cyclotron Market, by Capacity – Revenue and Forecast to 2027 (USD Million)
Table 21. Rest of Asia-Pacific: Medical Cyclotron Market, by End-User – Revenue and Forecast to 2027 (USD Million)
Table 22. Glossary of Terms, Medical Cyclotron Market
LIST OF FIGURES
Figure 1. Medical Cyclotron Market Segmentation
Figure 2. Medical Cyclotron Market, By Country
Figure 3. Asia Pacific Medical Cyclotron Market Overview
Figure 4. 16-18 MeV Segment Held Largest Share of Capacity Segment In Medical Cyclotron Market
Figure 5. Asia Pacific Medical Cyclotron Market- Leading Country Markets (USD Million)
Figure 6. Asia Pacific PEST Analysis
Figure 7. Expert Opinion
Figure 8. Medical Cyclotron Market Impact Analysis of Driver and Restraints
Figure 9. Asia Pacific Medical Cyclotron Market – Revenue Forecast And Analysis – 2019- 2027
Figure 10. Medical Cyclotron Market Share, by Type, 2019 and 2027 (%)
Figure 11. Ring Cyclotron: Medical Cyclotron Market– Revenue and Forecast to 2027 (USD Million)
Figure 12. Azimuthally Varying Field (AVF): Medical Cyclotron Market– Revenue and Forecast to 2027 (USD Million)
Figure 13. Medical Cyclotron Market Share, by Capacity, 2019 and 2027 (%)
Figure 14. 10-12 MeV: Medical Cyclotron Market– Revenue and Forecast to 2027 (USD Million)
Figure 15. 16-18 MeV: Medical Cyclotron Market– Revenue and Forecast to 2027 (USD Million)
Figure 16. 19-24 MeV: Medical Cyclotron Market– Revenue and Forecast to 2027 (USD Million)
Figure 17. 24 MeV and Above: Medical Cyclotron Market– Revenue and Forecast to 2027 (USD Million)
Figure 18. Medical Cyclotron Market Share, by End User, 2019 and 2027 (%)
Figure 19. Hospitals: Medical Cyclotron Market– Revenue and Forecast to 2027 (USD Million)
Figure 20. Specialized Clinics: Medical Cyclotron Market– Revenue and Forecast to 2027 (USD Million)
Figure 21. Pharmaceutical Companies: Medical Cyclotron Market– Revenue and Forecast to 2027 (USD Million)
Figure 22. Others: Medical Cyclotron Market– Revenue and Forecast to 2027 (USD Million)
Figure 23. Asia Pacific: Medical Cyclotron Market, by Key Country – Revenue (2019) (USD Million)
Figure 24. Asia Pacific Medical Cyclotron Market Revenue and Forecast to 2027 (USD Million)
Figure 25. China: Medical Cyclotron Market – Revenue and Forecast to 2027 (USD Million)
Figure 26. Japan: Medical Cyclotron Market – Revenue and Forecast to 2027 (USD Million)
Figure 27. India: Medical Cyclotron Market – Revenue and Forecast to 2027 (USD Million)
Figure 28. South Korea: Medical Cyclotron Market – Revenue and Forecast to 2027 (USD Million)
Figure 29. Australia: Medical Cyclotron Market – Revenue and Forecast to 2027 (USD Million)
Figure 30. Rest of Asia-Pacific: Medical Cyclotron Market – Revenue and Forecast to 2027 (USD Million)
Figure 31. Impact of COVID-19 Pandemic In Asia Pacific Country Markets
- General Electric Company
- Varian Medical Systems, Inc
- IBA
- Sumitomo Heavy Industries, Ltd.
- Siemens AG
- Advanced Cyclotron Systems
- isoSolution Inc
The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.
- Data Collection and Secondary Research:
As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.
Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.
- Primary Research:
The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.
For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.
A typical research interview fulfils the following functions:
- Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
- Validates and strengthens in-house secondary research findings
- Develops the analysis team’s expertise and market understanding
Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:
- Industry participants: VPs, business development managers, market intelligence managers and national sales managers
- Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.
Below is the breakup of our primary respondents by company, designation, and region:
Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.
- Data Analysis:
Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.
- 3.1 Macro-Economic Factor Analysis:
We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.
- 3.2 Country Level Data:
Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.
- 3.3 Company Profile:
The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.
- 3.4 Developing Base Number:
Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.
- Data Triangulation and Final Review:
The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.
We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.
We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.
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