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A new era of nuclear medicine diagnosis has dawned with introduction of medical cyclotron technology. Medical cyclotron primarily produces positron emitters, which can be used in molecular imaging of organs. In medical cyclotron, particles such as deuterons and protons are accelerated and bombarded to an appropriate target material for the production of positron-emitting radioisotopes. Positron emitters are produced by the (p, α), (p, n) or (d, n) reaction. The neutron activation of the surrounding medium is of utmost importance while determining radiation safety. Medical cyclotrons are compact cyclotrons that are used for PET imaging through the production of positron-emitting radionuclides. Most of the clinically and medically useful positron emitters are formed by nuclear reactions consisting of low energy particles which are otherwise known as the compact cyclotrons. These cyclotrons are commercially available and utilize small space. The medical cyclotron operation can be controlled by computer. The cyclotron was invented by Ernest Lawrence and M.S. Livingstone of the University of California, Berkley, where it was first operated in 1932.

According to Radiological Society of North America, in 2013, the Canada government initiated the US$ 25 Mn, four-year Isotope Technology Acceleration Program (ITAP) for the further advancement of cyclotron and linear accelerator technologies for the production of Tc-99m. Grants for cyclotron projects were awarded at the TRIUMF and University of Alberta. In early 2015, TRIUMF announced that researchers had demonstrated a technology that can be feasible for a number of different cyclotrons, which are capable of serving reasonably large population centers. In 2018, according to a review by MDPI Journal, near 70% of the cyclotrons disseminated over the world are low-energy cyclotrons (≤20 MeV).

Cancer has a major impact on society in the U.S. and across the world. Rise in prevalence of cancer is driving the medical cyclotrons market. According to National Cancer Institute, the estimated national expenditure for cancer care in the U.S. was US$ 147.3 Bn in 2017. In forecast period, the costs of cyclotrons are likely to increase due to increasing prevalence of cancer  and rising elderly population. Costs are also likely to increase, as new and costly treatment are being adopted as standard of care. Rise in production of artificial radionuclides, increase in the number of treatments and medical care expenditure, surge in prevalence of cancer, lifestyle changes, increase in the number of geriatric population drive the global medical cyclotrons market. High operating and maintenance costs of cyclotrons, industrial and regulatory constraints, and narrow physician referral bases are expected to hinder the medical cyclotrons market during the forecast period. 

Based on product type, the global medical cyclotrons market can be classified into ring cyclotrons and azimuthally varying field (AVF) cyclotron. In terms of end-users, the global medical cyclotrons market can be segmented into hospitals, specialized clinics, pharmaceutical companies and others. 

Based on region, the global medical cyclotrons market can be segregated into North America, Europe, Latin America, Asia Pacific, and Middle East & Africa. North America is expected to lead the medical cyclotrons market due to factors such as effective government initiatives, increase in business investments, and developed economy. Latin America is expected to account for a large share of the medical cyclotrons market due to increasing awareness. 

Key players operating in the global medical cyclotrons market include Cyclotron Products, Nuclear Healthcare Limited, Sumitomo Heavy Industries. Ltd., IBA, General Electric Company, Best Medical International, Inc., and TeamBest.  These players engage in various strategies, such as agreements, partnerships, collaborations, and new product launches, to gain competitive advantage in the market.

This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.

Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:

  • Customer Experience Maps
  • Insights and Tools based on data-driven research
  • Actionable Results to meet all the business priorities
  • Strategic Frameworks to boost the growth journey

The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.

The following regional segments are covered comprehensively:

  • North America
  • Asia Pacific
  • Europe
  • Latin America
  • The Middle East and Africa

The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.

Below is a snapshot of these quadrants.

1. Customer Experience Map

The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.

2. Insights and Tools

The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.

3. Actionable Results

The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.

4. Strategic Frameworks

The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.

The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:

1. What can be the best investment choices for venturing into new product and service lines?

2. What value propositions should businesses aim at while making new research and development funding?

3. Which regulations will be most helpful for stakeholders to boost their supply chain network?

4. Which regions might see the demand maturing in certain segments in near future?

5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?

6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?

7. Which government regulations might challenge the status of key regional markets?

8. How will the emerging political and economic scenario affect opportunities in key growth areas?

9. What are some of the value-grab opportunities in various segments?

10. What will be the barrier to entry for new players in the market?

Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.

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Medical Cyclotrons Market

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