Market Overview:
The global isotope production system market is expected to grow at a CAGR of 5.5% during the forecast period from 2018 to 2030. The growth in this market can be attributed to the increasing demand for medical and research applications of isotopes. Additionally, the growing awareness about the benefits of using isotopes is also contributing to the growth of this market. The global isotope production system market can be segmented on the basis of type and application. On the basis of type, this market can be segmented into cobalt-60 and lutetium-177 systems. The cobalt-60 systems are expected to dominate this market during the forecast period owing to their high efficiency and low cost as compared to other types of systems available in this market.
Product Definition:
The isotope production system is a nuclear reactor that produces radioactive isotopes. These isotopes are used in medical and scientific research, and they are also used to make nuclear weapons.
Cobalt-60:
Cobalt-60 is a radioactive element that can be used in the production of isotopes. It has 60 protons and 56 electrons and is found in nature only in trace quantities, mostly as a product of copper/zinc mining. Cobalt-60 has been studied extensively because of its use as an artificial source for producing various types of radioisotopes which have wide applications ranging from medical to industrial to research purposes.
Lutetium-177:
Lutetium-177 is a radioactive element that originates from the cooling of the Sun. It has a high rate of occurrence in some minerals, including zircon and rutile. Lutetium-177 is used as an isotope for medical imaging due to its radioisotope properties which include high energy gamma rays with a maximum wavelength of 7 nm.
Application Insights:
The global isotope production system market has been segmented on the basis of application into medical, research, and other applications. The medical application segment dominated the overall market in terms of revenue in 2017. This can be attributed to a growing population that requires regular check-ups and an increasing number of cancer patients seeking treatment with radioisotopes.
The use of stable and purer radioisotopes for cancer treatment is expected to drive demand over the forecast period as it reduces side effects caused by radiation exposure such as tumor damage to surrounding organs or tissues due to metastasis (spread) from the original tumor site. Thus, rising awareness about these applications coupled with increasing government funding for cancer research is expected fuel industry growth over the forecast period.
Regional Analysis:
North America accounted for the largest share of global market in 2017. The presence of major players, favorable reimbursement policies, and increasing demand for nuclear medicine are some factors driving the regional market growth. For instance, as per the Nuclear Regulatory Commission (NRC), since 2011 till date around USD X million has been released to University of California (UC) and Los Alamos National Laboratory (LANL) for medical isotope production systems used in cancer treatment.
Asia Pacific is expected to be one of the fastest-growing regions over the forecast period owing to rising number of nuclear reactors being built across countries such as China & India & Pakistan & South Korea etc., which will lead to an increase in radioactive waste generation over time.
Growth Factors:
- Increasing demand for isotopes in medical and research applications
- Growing popularity of nuclear medicine
- Proliferation of new nuclear reactors worldwide
- Rising number of cancer patients globally
- Technological advancements in isotope production
Scope Of The Report
Report Attributes
Report Details
Report Title
Isotope Production System Market Research Report
By Type
Cobalt-60, Lutetium-177
By Application
Medical, Research, Other
By Companies
Bruce Power, ITM, TerraPower, BWX Technologies, Phoenix, ROSATOM, AccSys Technology, ARTMS, TUV SUD
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
195
Number of Tables & Figures
137
Customization Available
Yes, the report can be customized as per your need.
Global Isotope Production System Market Report Segments:
The global Isotope Production System market is segmented on the basis of:
Types
Cobalt-60, Lutetium-177
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, Research, 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
- ITM
- TerraPower
- BWX Technologies
- Phoenix
- ROSATOM
- AccSys Technology
- ARTMS
- TUV SUD
Highlights of The Isotope Production System 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:
- Cobalt-60
- Lutetium-177
- By Application:
- Medical
- Research
- 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 Isotope Production System 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.
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- Correctly Positioning New Products
- Market Entry Strategies
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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?
The isotope production system (IPS) is a nuclear reactor design that uses plutonium and uranium as its fuel. The IPS produces more plutonium than any other nuclear reactor design.
Some of the major companies in the isotope production system market are Bruce Power, ITM, TerraPower, BWX Technologies, Phoenix, ROSATOM, AccSys Technology, ARTMS, TUV SUD.
The isotope production system market is expected to register a CAGR of 5.5%.
Chapter 1 Executive Summary
Chapter 2 Assumptions and Acronyms Used
Chapter 3 Research Methodology
Chapter 4 Isotope Production System 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 Isotope Production System Market Dynamics 4.2.1 Market Drivers 4.2.2 Market Restraints 4.2.3 Market Opportunity 4.3 Isotope Production System 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 Isotope Production System 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 Isotope Production System Market Size & Forecast, 2018-2028 4.5.1 Isotope Production System Market Size and Y-o-Y Growth 4.5.2 Isotope Production System Market Absolute $ Opportunity
Chapter 5 Global Isotope Production System 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 Isotope Production System Market Size Forecast by Type
5.2.1 Cobalt-60
5.2.2 Lutetium-177
5.3 Market Attractiveness Analysis by Type
Chapter 6 Global Isotope Production System 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 Isotope Production System Market Size Forecast by Applications
6.2.1 Medical
6.2.2 Research
6.2.3 Other
6.3 Market Attractiveness Analysis by Applications
Chapter 7 Global Isotope Production System 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 Isotope Production System 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 Isotope Production System Analysis and Forecast
9.1 Introduction
9.2 North America Isotope Production System 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 Isotope Production System Market Size Forecast by Type
9.6.1 Cobalt-60
9.6.2 Lutetium-177
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 Isotope Production System Market Size Forecast by Applications
9.10.1 Medical
9.10.2 Research
9.10.3 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 Isotope Production System Analysis and Forecast
10.1 Introduction
10.2 Europe Isotope Production System 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 Isotope Production System Market Size Forecast by Type
10.6.1 Cobalt-60
10.6.2 Lutetium-177
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 Isotope Production System Market Size Forecast by Applications
10.10.1 Medical
10.10.2 Research
10.10.3 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 Isotope Production System Analysis and Forecast
11.1 Introduction
11.2 Asia Pacific Isotope Production System 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 Isotope Production System Market Size Forecast by Type
11.6.1 Cobalt-60
11.6.2 Lutetium-177
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 Isotope Production System Market Size Forecast by Applications
11.10.1 Medical
11.10.2 Research
11.10.3 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 Isotope Production System Analysis and Forecast
12.1 Introduction
12.2 Latin America Isotope Production System 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 Isotope Production System Market Size Forecast by Type
12.6.1 Cobalt-60
12.6.2 Lutetium-177
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 Isotope Production System Market Size Forecast by Applications
12.10.1 Medical
12.10.2 Research
12.10.3 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) Isotope Production System Analysis and Forecast
13.1 Introduction
13.2 Middle East & Africa (MEA) Isotope Production System 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) Isotope Production System Market Size Forecast by Type
13.6.1 Cobalt-60
13.6.2 Lutetium-177
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) Isotope Production System Market Size Forecast by Applications
13.10.1 Medical
13.10.2 Research
13.10.3 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 Isotope Production System Market: Competitive Dashboard
14.2 Global Isotope Production System Market: Market Share Analysis, 2019
14.3 Company Profiles (Details – Overview, Financials, Developments, Strategy)
14.3.1 Bruce Power
14.3.2 ITM
14.3.3 TerraPower
14.3.4 BWX Technologies
14.3.5 Phoenix
14.3.6 ROSATOM
14.3.7 AccSys Technology
14.3.8 ARTMS
14.3.9 TUV SUD