LONDON, Feb. 24, 2026 /PRNewswire/ -- The global medical cyclotron market shows steady growth, expected to be valued at around US$246.8 million in 2026 and projected to reach US$405.4 million by 2033, with a CAGR of 5.4% during this period. This growth stems from expanding adoption of PET imaging, increased investments in nuclear medicine, and continuous innovation in compact and higher-energy cyclotron technologies that enhance isotope yield and operational efficiency.
Surge in Precision Diagnostics and Radiopharmaceutical Production
The rising global burden of cancer, cardiovascular diseases, and neurological disorders is significantly boosting demand for PET imaging procedures, where cyclotron-produced radioisotopes such as fluorine-18 are essential. Medical cyclotrons enable hospitals and diagnostic centers to produce these radioisotopes onsite or near-site, overcoming logistical constraints imposed by their short half-lives and ensuring reliable supply for critical diagnostic workflows. As healthcare providers expand nuclear medicine infrastructure and radiopharmaceutical manufacturing facilities, demand for cyclotron systems continues to rise. Hospitals and imaging centers increasingly invest in cost-efficient, compact cyclotrons that integrate automated features and enhanced beam stability, lowering operational complexity and maintenance needs. Beyond traditional cancer diagnostics, theranostics, which combine targeted imaging and therapy, further expand the market by requiring diverse and high-purity radioisotope production. In emerging markets like Asia Pacific, investments in PET imaging installations and nuclear medicine research are rapidly increasing, strengthening long-term growth prospects.
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Key Highlights
- The global medical cyclotron market is projected to reach US$ 405.4 million by 2033, expanding at a CAGR of 5.4%.
- Rising demand for PET-based diagnostics in oncology, cardiology, and neurology is a primary growth driver.
- Oncology leads by application, accounting for nearly 50% revenue share, supported by increasing cancer incidence and precision imaging needs.
- Technological advancements, including automation, digital monitoring, and compact system designs, are improving isotope yield and operational efficiency.
- North America dominates the market, while Asia Pacific emerges as the fastest-growing region due to healthcare modernization and expanding nuclear medicine infrastructure.
Rise in Healthcare Infrastructure Investment and Technology Innovation
Rapid modernization of healthcare infrastructure worldwide is a key driver of the medical cyclotron market. Governments and private healthcare providers are prioritizing domestic radioisotope production to reduce reliance on imported supplies, minimize transportation delays, and improve patient access to time-sensitive PET diagnostics. This shift is particularly important given the short half-lives of key isotopes, which require reliable, near-site production capabilities. Cyclotron manufacturers are responding by introducing systems with higher automation, remote diagnostics, digital monitoring, and enhanced radiation safety features that improve operational uptime and isotope yield. Compact and energy-efficient designs are also enabling installation within hospital campuses and regional imaging centers. These advancements not only lower operational complexity but also enhance regulatory compliance and cost efficiency, making cyclotron adoption more attractive to hospitals, academic institutions, and commercial radiopharmacies focused on delivering high-quality, precision diagnostics.
Key Highlight: Telix Opens First Cyclotron Facility in Asia Pacific
- In 2025, Telix Pharmaceuticals officially inaugurated its first cyclotron-equipped manufacturing facility in the Asia-Pacific region, located in Yokohama, Japan. This facility, part of its Telix Manufacturing Solutions (TMS) network, marks a major expansion of the company's regional production capacity for radiopharmaceuticals used in diagnostic imaging and therapy.
- The TMS Yokohama site is expected to support the clinical supply of TLX250-CDx, a kidney cancer imaging candidate, and plans are underway to expand production to other radiopharmaceutical products for prostate and brain cancer, subject to regulatory approvals.
- Raphael Ortiz, CEO International Business and Japan President at Telix, stated that the opening enhances the company's ability to meet rising demand for radiopharmaceuticals in Japan and across Asia Pacific. Japan, being the world's second-largest nuclear medicine market, is central to Telix's clinical and commercial strategy.
The facility is part of a broader global manufacturing network comprising approximately 39 production and distribution sites across five continents, positioning Telix to improve access and distribution of advanced cancer diagnostic and therapeutic radiopharmaceuticals.
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Segmentation Insights: Oncology Dominates as PET Imaging Becomes Central to Cancer Care
By application, oncology is projected to lead the global medical cyclotron market, accounting for approximately 50% of total revenue. This dominance reflects the rising global cancer burden and growing reliance on PET imaging for accurate diagnosis, staging, and treatment monitoring. Cyclotron-produced radioisotopes, particularly fluorine-18, are essential for high-resolution tumor visualization and personalized therapy planning. Expanding use of advanced radiotracers and theranostic approaches further strengthens oncology demand. Strong reimbursement support for PET procedures and increasing installations of PET/CT and PET/MRI systems continue to reinforce oncology's leading position.
Regional Insights: North America Maintains Market Dominance While Asia Pacific Emerges as the Fastest-Growing Region
North America is the dominant regional market, accounting for roughly 47.8% of the global medical cyclotron market value. A mature healthcare ecosystem with widespread PET imaging infrastructure, strong research activity, and favorable regulatory and reimbursement frameworks supports this leadership. The United States, in particular, drives demand through robust nuclear medicine adoption and ongoing clinical research initiatives. The Asia Pacific market is the fastest-growing region, projected to register the highest CAGR between 2026 and 2033. Countries such as China, India, Japan, and South Korea are rapidly expanding healthcare infrastructure, increasing PET imaging capacity, and investing in domestic radiopharmaceutical production. Government initiatives supporting cancer screening and early diagnosis are further fueling market growth. Europe follows with steady demand driven by established nuclear medicine networks and collaborative research initiatives, while Latin America and the Middle East show emerging potential linked to expanding diagnostic imaging capabilities.
Key Players and Business Strategies
Leading players in the medical cyclotron market include Ion Beam Applications S.A. (IBA), GE HealthCare, Siemens Healthineers AG, and Sumitomo Heavy Industries (SHI).
- IBA continues to focus on enhancing cyclotron performance and isotope yield through advanced design improvements and expanded service support.
- GE HealthCare strengthens regional capabilities through partnerships with healthcare institutions, enabling tailored cyclotron installations and research collaborations.
- Siemens Healthineers invests in integrated solutions that streamline cyclotron operations with radiopharmaceutical workflows, enhancing diagnostic efficiency.
- SHI expands its footprint with reliable, energy-efficient cyclotron systems and comprehensive customer support tailored for diverse clinical applications.
Across the industry, strategies emphasize automation, improved operational efficiency, digital integration, and partnerships that support localized isotope production and service ecosystems to meet growing global demand.
Competitive Analysis:
- Pfizer
- Eli Lilly and Company
- AbbVie, Inc.
- Teva Pharmaceutical Industries Ltd.
- Johnson & Johnson
- Sanofi
- GSk plc.
- Bayer AG
- TONIX Pharmaceuticals Holdings Corp
- Virios Therapeutics, Inc.
- Aptinyx Inc.
- FSD Pharma
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Market Segmentation
By Drug Class
- Antidepressants
- Anticonvulsants
- Analgesics
- Muscle Relaxants
By Treatment
- Medication
- Therapy
- Others
By Distribution Channel
- Hospitals Pharmacies
- Retail Pharmacies
- Online Pharmacies
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