Market Overview:
The global cobalt-60 market is expected to grow at a CAGR of 5.5% from 2018 to 2030. The growth in the market can be attributed to the increasing demand for cobalt-60 in medical devices and medical radiotherapy applications. Additionally, the growing industrial sector is also expected to drive the growth of the global cobalt-60 market during the forecast period. On the basis of type, high specific activity cobalt-60 accounted for a major share ofthe global cobalt- 60 market in 2017. This segment is projected to grow at a CAGR of 5.8% from 2018to 2030 due to its high specific activity and long half life.
Product Definition:
A radioactive isotope of cobalt with a half-life of 5.27 years, used as a source of gamma radiation in radiotherapy.
High Specific Activity Cobalt-60:
High specific activity cobalt-60 is a radioactive metal used as a source of gamma rays. It's also known as cobalt-60 or Co-60 for short. The most common use of high specific activity cobalt-60 is in the form of a colloidal dispersion which can be incorporated into various materials such as plastics, paper, and concrete to produce radiation therapy for cancer patients.
General Cobalt-60:
General cobalt-60 is a radioactive element used in medical applications. It has 60% of the activity of regular cobalt and can be used for radiotherapy purposes. The most common use is to treat cancer which gives high radiation doses to the body with very little exposure to harmful effects. This makes it an attractive choice amongst other available radiological materials, hence driving its demand over the recent years.
Application Insights:
The medical devices segment accounted for the largest share of over 50% in 2017. The growth can be attributed to the increasing use of Cobalt-60 as a radioisotope in cardiac pacemakers, cancer treatment therapies, and other medical applications.
Medical radiotherapy is expected to witness significant growth over the forecast period owing to rising demand for Cobalt-60 from various countries such as Japan, China, India and Australia due to its high specific activity. In addition, growing awareness regarding advanced radiation therapy techniques is likely to boost product demand in this application segment during the forecast period.
Regional Analysis:
North America dominated the global market in 2017. The presence of major manufacturers and suppliers coupled with a high level of healthcare expenditure is anticipated to drive the regional demand over the forecast period. In addition, increasing use of cobalt-60 for cancer treatment and radiotherapy is expected to propel market growth during the forecast period.
Asia Pacific is estimated to be one of the fastest growing regions owing to rising medical tourism in emerging countries such as India, China, Thailand, Malaysia and Singapore. Moreover, increasing awareness regarding availability of treatments using cobalt-60 rays will fuel regional demand during the projected period. Growing industrialization along with rapid urbanization has resulted in an increased number of hospitals & clinics; which will further boost product penetration across Asia Pacific region over next eight years (2018 - 2030).
Growth Factors:
- Increasing demand from medical sector for cancer treatment
- Rising demand from the industrial sector for radiography, sterilization and food irradiation
- Growing popularity of Cobalt-60 therapy as an alternative to traditional cancer treatments such as chemotherapy and radiation therapy
- Technological advancements in Cobalt-60 production that result in lower production costs
- Increased focus on radiation safety by regulatory agencies that is expected to drive the adoption of Cobalt-60 based products
Scope Of The Report
Report Attributes
Report Details
Report Title
Cobalt-60 Market Research Report
By Type
High Specific Activity Cobalt-60, General Cobalt-60
By Application
Medical Devices, Medical Radiotherapy, Industrial, Other
By Companies
Bruce Power, Rosatom, China National Nuclear Corporation, Eckert & Ziegler
Regions Covered
North America, Europe, APAC, Latin America, MEA
Base Year
2021
Historical Year
2019 to 2020 (Data from 2010 can be provided as per availability)
Forecast Year
2030
Number of Pages
178
Number of Tables & Figures
125
Customization Available
Yes, the report can be customized as per your need.
Global Cobalt-60 Market Report Segments:
The global Cobalt-60 market is segmented on the basis of:
Types
High Specific Activity Cobalt-60, General Cobalt-60
The product segment provides information about the market share of each product and the respective CAGR during the forecast period. It lays out information about the product pricing parameters, trends, and profits that provides in-depth insights of the market. Furthermore, it discusses latest product developments & innovation in the market.
Applications
Medical Devices, Medical Radiotherapy, Industrial, Other
The application segment fragments various applications of the product and provides information on the market share and growth rate of each application segment. It discusses the potential future applications of the products and driving and restraining factors of each application segment.
Some of the companies that are profiled in this report are:
- Bruce Power
- Rosatom
- China National Nuclear Corporation
- Eckert & Ziegler
Highlights of The Cobalt-60 Market Report:
- The market structure and projections for the coming years.
- Drivers, restraints, opportunities, and current trends of market.
- Historical data and forecast.
- Estimations for the forecast period 2030.
- Developments and trends in the market.
- By Type:
- High Specific Activity Cobalt-60
- General Cobalt-60
- By Application:
- Medical Devices
- Medical Radiotherapy
- Industrial
- Other
- Market scenario by region, sub-region, and country.
- Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
- Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
- Government Policies, Macro & Micro economic factors are also included in the report.
We have studied the Cobalt-60 Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2030.
Regional Analysis
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- Latin America
Note: A country of choice can be added in the report at no extra cost. If more than one country needs to be added, the research quote will vary accordingly.
The geographical analysis part of the report provides information about the product sales in terms of volume and revenue in regions. It lays out potential opportunities for the new entrants, emerging players, and major players in the region. The regional analysis is done after considering the socio-economic factors and government regulations of the countries in the regions.
How you may use our products:
- Correctly Positioning New Products
- Market Entry Strategies
- Business Expansion Strategies
- Consumer Insights
- Understanding Competition Scenario
- Product & Brand Management
- Channel & Customer Management
- Identifying Appropriate Advertising Appeals
8 Reasons to Buy This Report
- Includes a Chapter on the Impact of COVID-19 Pandemic On the Market
- Report Prepared After Conducting Interviews with Industry Experts & Top Designates of the Companies in the Market
- Implemented Robust Methodology to Prepare the Report
- Includes Graphs, Statistics, Flowcharts, and Infographics to Save Time
- Industry Growth Insights Provides 24/5 Assistance Regarding the Doubts in the Report
- Provides Information About the Top-winning Strategies Implemented by Industry Players.
- In-depth Insights On the Market Drivers, Restraints, Opportunities, and Threats
- Customization of the Report Available
Frequently Asked Questions?
Cobalt-60 is a radioactive element with a half-life of 6.27 years. It is used in medical procedures to help diagnose and treat cancer, as well as for other purposes such as nuclear research.
Some of the key players operating in the cobalt-60 market are Bruce Power, Rosatom, China National Nuclear Corporation, Eckert & Ziegler.
The cobalt-60 market is expected to grow at a compound annual growth rate of 5.5%.
Chapter 1 Executive Summary
Chapter 2 Assumptions and Acronyms Used
Chapter 3 Research Methodology
Chapter 4 Cobalt-60 Market Overview
4.1 Introduction
4.1.1 Market Taxonomy
4.1.2 Market Definition
4.1.3 Macro-Economic Factors Impacting the Market Growth
4.2 Cobalt-60 Market Dynamics
4.2.1 Market Drivers
4.2.2 Market Restraints
4.2.3 Market Opportunity
4.3 Cobalt-60 Market - Supply Chain Analysis
4.3.1 List of Key Suppliers
4.3.2 List of Key Distributors
4.3.3 List of Key Consumers
4.4 Key Forces Shaping the Cobalt-60 Market
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Buyers
4.4.3 Threat of Substitution
4.4.4 Threat of New Entrants
4.4.5 Competitive Rivalry
4.5 Global Cobalt-60 Market Size & Forecast, 2020-2028
4.5.1 Cobalt-60 Market Size and Y-o-Y Growth
4.5.2 Cobalt-60 Market Absolute $ Opportunity
Chapter 5 Global Market Analysis and Forecast by Type
5.1 Introduction
5.1.1 Key Market Trends & Growth Opportunities by Type
5.1.2 Basis Point Share (BPS) Analysis by Type
5.1.3 Absolute $ Opportunity Assessment by Type
5.2 Market Size Forecast by Type
5.2.1 High Specific Activity Cobalt-60
5.2.2 General Cobalt-60
5.3 Market Attractiveness Analysis by Type
Chapter 6 Global Market Analysis and Forecast by Applications
6.1 Introduction
6.1.1 Key Market Trends & Growth Opportunities by Applications
6.1.2 Basis Point Share (BPS) Analysis by Applications
6.1.3 Absolute $ Opportunity Assessment by Applications
6.2 Market Size Forecast by Applications
6.2.1 Medical Devices
6.2.2 Medical Radiotherapy
6.2.3 Industrial
6.2.4 Other
6.3 Market Attractiveness Analysis by Applications
Chapter 7 Global Cobalt-60 Market Analysis and Forecast by Region
7.1 Introduction
7.1.1 Key Market Trends & Growth Opportunities by Region
7.1.2 Basis Point Share (BPS) Analysis by Region
7.1.3 Absolute $ Opportunity Assessment by Region
7.2 Cobalt-60 Market Size Forecast by Region
7.2.1 North America
7.2.2 Europe
7.2.3 Asia Pacific
7.2.4 Latin America
7.2.5 Middle East & Africa (MEA)
7.3 Market Attractiveness Analysis by Region
Chapter 8 Coronavirus Disease (COVID-19) Impact
8.1 Introduction
8.2 Current & Future Impact Analysis
8.3 Economic Impact Analysis
8.4 Government Policies
8.5 Investment Scenario
Chapter 9 North America Analysis and Forecast
9.1 Introduction
9.2 North America Market Size Forecast by Country
9.2.1 U.S.
9.2.2 Canada
9.3 Basis Point Share (BPS) Analysis by Country
9.4 Absolute $ Opportunity Assessment by Country
9.5 Market Attractiveness Analysis by Country
9.6 North America Market Size Forecast by Type
9.6.1 High Specific Activity Cobalt-60
9.6.2 General Cobalt-60
9.7 Basis Point Share (BPS) Analysis by Type
9.8 Absolute $ Opportunity Assessment by Type
9.9 Market Attractiveness Analysis by Type
9.10 North America Market Size Forecast by Applications
9.10.1 Medical Devices
9.10.2 Medical Radiotherapy
9.10.3 Industrial
9.10.4 Other
9.11 Basis Point Share (BPS) Analysis by Applications
9.12 Absolute $ Opportunity Assessment by Applications
9.13 Market Attractiveness Analysis by Applications
Chapter 10 Europe Analysis and Forecast
10.1 Introduction
10.2 Europe Market Size Forecast by Country
10.2.1 Germany
10.2.2 France
10.2.3 Italy
10.2.4 U.K.
10.2.5 Spain
10.2.6 Russia
10.2.7 Rest of Europe
10.3 Basis Point Share (BPS) Analysis by Country
10.4 Absolute $ Opportunity Assessment by Country
10.5 Market Attractiveness Analysis by Country
10.6 Europe Market Size Forecast by Type
10.6.1 High Specific Activity Cobalt-60
10.6.2 General Cobalt-60
10.7 Basis Point Share (BPS) Analysis by Type
10.8 Absolute $ Opportunity Assessment by Type
10.9 Market Attractiveness Analysis by Type
10.10 Europe Market Size Forecast by Applications
10.10.1 Medical Devices
10.10.2 Medical Radiotherapy
10.10.3 Industrial
10.10.4 Other
10.11 Basis Point Share (BPS) Analysis by Applications
10.12 Absolute $ Opportunity Assessment by Applications
10.13 Market Attractiveness Analysis by Applications
Chapter 11 Asia Pacific Analysis and Forecast
11.1 Introduction
11.2 Asia Pacific Market Size Forecast by Country
11.2.1 China
11.2.2 Japan
11.2.3 South Korea
11.2.4 India
11.2.5 Australia
11.2.6 South East Asia (SEA)
11.2.7 Rest of Asia Pacific (APAC)
11.3 Basis Point Share (BPS) Analysis by Country
11.4 Absolute $ Opportunity Assessment by Country
11.5 Market Attractiveness Analysis by Country
11.6 Asia Pacific Market Size Forecast by Type
11.6.1 High Specific Activity Cobalt-60
11.6.2 General Cobalt-60
11.7 Basis Point Share (BPS) Analysis by Type
11.8 Absolute $ Opportunity Assessment by Type
11.9 Market Attractiveness Analysis by Type
11.10 Asia Pacific Market Size Forecast by Applications
11.10.1 Medical Devices
11.10.2 Medical Radiotherapy
11.10.3 Industrial
11.10.4 Other
11.11 Basis Point Share (BPS) Analysis by Applications
11.12 Absolute $ Opportunity Assessment by Applications
11.13 Market Attractiveness Analysis by Applications
Chapter 12 Latin America Analysis and Forecast
12.1 Introduction
12.2 Latin America Market Size Forecast by Country
12.2.1 Brazil
12.2.2 Mexico
12.2.3 Rest of Latin America (LATAM)
12.3 Basis Point Share (BPS) Analysis by Country
12.4 Absolute $ Opportunity Assessment by Country
12.5 Market Attractiveness Analysis by Country
12.6 Latin America Market Size Forecast by Type
12.6.1 High Specific Activity Cobalt-60
12.6.2 General Cobalt-60
12.7 Basis Point Share (BPS) Analysis by Type
12.8 Absolute $ Opportunity Assessment by Type
12.9 Market Attractiveness Analysis by Type
12.10 Latin America Market Size Forecast by Applications
12.10.1 Medical Devices
12.10.2 Medical Radiotherapy
12.10.3 Industrial
12.10.4 Other
12.11 Basis Point Share (BPS) Analysis by Applications
12.12 Absolute $ Opportunity Assessment by Applications
12.13 Market Attractiveness Analysis by Applications
Chapter 13 Middle East & Africa (MEA) Analysis and Forecast
13.1 Introduction
13.2 Middle East & Africa (MEA) Market Size Forecast by Country
13.2.1 Saudi Arabia
13.2.2 South Africa
13.2.3 UAE
13.2.4 Rest of Middle East & Africa (MEA)
13.3 Basis Point Share (BPS) Analysis by Country
13.4 Absolute $ Opportunity Assessment by Country
13.5 Market Attractiveness Analysis by Country
13.6 Middle East & Africa (MEA) Market Size Forecast by Type
13.6.1 High Specific Activity Cobalt-60
13.6.2 General Cobalt-60
13.7 Basis Point Share (BPS) Analysis by Type
13.8 Absolute $ Opportunity Assessment by Type
13.9 Market Attractiveness Analysis by Type
13.10 Middle East & Africa (MEA) Market Size Forecast by Applications
13.10.1 Medical Devices
13.10.2 Medical Radiotherapy
13.10.3 Industrial
13.10.4 Other
13.11 Basis Point Share (BPS) Analysis by Applications
13.12 Absolute $ Opportunity Assessment by Applications
13.13 Market Attractiveness Analysis by Applications
Chapter 14 Competition Landscape
14.1 Cobalt-60 Market: Competitive Dashboard
14.2 Global Cobalt-60 Market: Market Share Analysis, 2019
14.3 Company Profiles (Details – Overview, Financials, Developments, Strategy)
14.3.1 Bruce Power
14.3.2 Rosatom
14.3.3 China National Nuclear Corporation
14.3.4 Eckert & Ziegler
