Medical Grade Cobalt 60 Market Anticipated to Reach USD 1,500 Million, at a Notable 5.9% CAGR by 2035

Medical grade Cobalt-60 (Co-60) is a radioactive isotope widely used in medical and industrial applications, particularly in radiation therapy for cancer treatment, sterilization of medical equipment, and radiography. Its high-energy gamma radiation makes it effective in targeting malignant cells in oncology and ensuring the sterility of medical devices.

The Medical Grade Cobalt-60 Market Size was valued at 800 USD Million in 2024. The Medical Grade Cobalt-60 Market is expected to grow from 800 USD Million in 2025 to 1,500 USD Million by 2035. The Medical Grade Cobalt-60 Market CAGR (growth rate) is expected to be around 5.9% during the forecast period (2025 - 2035).

The global medical grade Cobalt-60 market has grown steadily over the past decade due to the increasing prevalence of cancer, rising healthcare expenditures, and growing adoption of advanced radiotherapy techniques. Cobalt-60 sources are crucial for teletherapy machines, gamma sterilizers, and blood irradiation, positioning them as an essential component in modern healthcare infrastructure.

Market Dynamics

1. Drivers

a. Rising Incidence of Cancer

Globally, the prevalence of cancer continues to increase, particularly in aging populations. Co-60 is extensively used in external beam radiotherapy (teletherapy) to treat various cancers, which directly drives demand.

b. Growth in Healthcare Infrastructure

Expansion of hospitals, oncology centers, and radiotherapy units in both developed and emerging regions has increased the demand for medical-grade radioactive sources like Co-60.

c. Sterilization of Medical Equipment

Medical devices, surgical instruments, and disposable products require gamma irradiation sterilization. Co-60 provides a reliable, high-penetration gamma source, supporting the safety and sterility of healthcare products.

d. Blood and Food Irradiation

Cobalt-60 is used in blood irradiation to prevent transfusion-associated graft-versus-host disease (TA-GVHD). It is also used for food sterilization and preservation in certain regions, further expanding its application scope.

2. Restraints

a. Regulatory and Safety Concerns

Handling and transportation of radioactive materials like Co-60 are strictly regulated. Compliance with nuclear safety protocols and international standards increases operational complexity and costs.

b. Disposal and Security Challenges

Spent Co-60 sources require careful disposal due to their radioactive nature. Security concerns related to potential misuse or theft also pose challenges for market growth.

c. Competition from Linear Accelerators

Modern linear accelerators (linacs) for radiotherapy offer higher precision and reduced radiation hazards, creating competition for Co-60-based teletherapy systems in certain markets.

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3. Opportunities

a. Expansion in Emerging Markets

Countries in Asia-Pacific, Latin America, and Africa are investing in healthcare infrastructure, including cancer treatment centers. This expansion provides significant opportunities for Co-60 deployment.

b. Development of Remote or Mobile Radiotherapy Units

Co-60’s relatively simple technology enables the development of mobile or remotely deployable radiotherapy units for rural or underserved regions.

c. Research and R&D Applications

Medical and industrial research applications continue to use Co-60 for gamma irradiation experiments, creating ongoing demand.

d. Innovations in Sterilization and Blood Irradiation

Advancements in automated gamma sterilization systems and optimized blood irradiation equipment increase efficiency and adoption of Co-60 sources.

Key Companies in the Medical Grade Cobalt-60 Market Include:

• NTP Radioisotopes
• Elekta
• Framatome
• MDS Nordion
• TLD Group
• NorthStar Medical Radioisotopes
• Sankei Medical
• SampT Energy
• Radiation Dynamics
• Cobalt 60 LLC
• Ansto
• Bhabha Atomic Research Centre
• Global Medical Isotope Systems
• Isotope Products Laboratories

Emerging Trends

• Shift Toward Remote and Mobile Radiotherapy Units
• Countries with limited oncology centers are exploring mobile Co-60 units to expand access to cancer treatment in rural regions.
• Integration with Automated Sterilization Systems
• Gamma sterilization using Co-60 is increasingly integrated with automated packaging and workflow systems for improved efficiency.
• Increased Demand for Blood Irradiation
• Rising awareness of TA-GVHD prevention is driving blood irradiation programs in hospitals and blood banks, increasing Co-60 utilization.
• Research in Radiation Applications
• Ongoing R&D in radiobiology, sterilization methods, and industrial gamma irradiation supports steady market growth.
• Focus on Regulatory Compliance and Security
• Advancements in handling protocols, containerization, and security technologies reduce risks associated with Co-60, enabling wider adoption.

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Future Outlook

The medical grade Cobalt-60 market is expected to experience steady growth over the next decade, supported by the global rise in cancer cases, expansion of healthcare infrastructure, and ongoing use in sterilization and blood irradiation applications. Asia-Pacific is projected to be the fastest-growing region due to increasing healthcare spending, development of oncology centers, and rising awareness of sterilization and blood safety practices.

North America and Europe will continue to demand Co-60 for teletherapy and sterilization, while innovations in mobile radiotherapy units and automated sterilization equipment are expected to enhance market adoption globally. Despite competition from linear accelerators and safety concerns, the simplicity, reliability, and effectiveness of Co-60 in radiotherapy and sterilization will sustain its market presence.

Medical grade Cobalt-60 is an indispensable radioactive isotope in modern healthcare. Its applications in cancer radiotherapy, medical device sterilization, and blood irradiation make it vital for both patient care and industrial safety.

The market is poised for sustained growth driven by increasing cancer incidence, expanding healthcare infrastructure, and rising adoption of automated sterilization systems. While regulatory compliance, safety, and competition from alternative technologies pose challenges, innovations in mobile units, research applications, and improved handling protocols provide significant opportunities.

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