Cobalt-60 Market Size, Share, Growth, and Industry Analysis, By Type (Low Specific Activity and High Specific Activity), By Application (Medical Application, Industrial Application and Others), and Regional Forecast to 2033

COBALT-60 MARKET OVERVIEW

Cobalt-60 Market was valued at USD 298.98 million in 2024 and is expected to reach USD 316.00 million in 2025, growing to USD 490.71 million by 2033, with a CAGR of 5.7% during the forecast period.

Cobalt-60 market is on the rise worldwide because of its strategic significance in healthcare and industrial. Cobalt-60 is a gamma ray emitting radioactive form of cobalt (the Nuclide with the lowest half-life in medical use) that is widely used in external beam radiotherapy for treatment of many diseases like brain, cervical, head and neck cancers. Rising global CA CASE, along with increasing investments on upgradation of radiotherapy infrastructure is driving substantially the demand of Cobalt-60 in medicine. Moreover, its application in the sterilization of medical instruments, syringes, gloves, and surgical equipment ensures hygiene and safety in hospitals, especially in the wake of heightened infection control measures post-COVID-19.

For the industrial sector, this is a must for non-destructive testing (NDT) which is utilised to determine the final integrity of the materials and components in aerospace, oil and gas and automotive industries among others as Cobalt-60. Used in the irradiation of food to improve shelf life and cleanliness, as it has regulatory approvals in various countries for this use. Also, globally trending towards food security and safety for launching irradiation processes. Though price point, capacity constraints and transportation concerned use of radioactive material in the sense are important to be mindful of for this market which will very likely stagnate over time. The favourable environment seen in the nuclear research, increasing healthcare awareness and well-equipped infrastructure will provide an ample opportunity for the opportunity creation and hence long-term sustainable growth of Cobalt-60 Market.

RUSSIA-UKRAINE WAR IMPACT

"Cobalt-60 Market Had a Negative Effect Due To Russia’s Significant Role as a Major Producer during the Russia-Ukraine War"

The main effect on cobalt-60 market has been the Russia-Ukraine war. Given that Russia is one of the largest global cobalt-60 producers, the conflict has resulted in supply chain dislocations and exports restrictions with geopolitical uncertainties surrounding the sourcing of radioactive materials at stake. Sanctions on Russia and continued instability in the region have prompted countries to look for alternative suppliers or divest in the home production of these products, which are increasing in price and reducing availability. This disruption is impacting medical and industrial sectors, that for cobalt-60 in radiotherapist for cancer treatments it is essential as well for sterilization of medical devices. Similarly, the unpredictability of future availability is driving businesses back to the drawing board in terms of sourcing strategy and stockpiling. In a nutshell, the marketplace saw volatility in pricing and an elevated concern over long-term supply.

LATEST TREND

"Rising Domestic Production and Technological Advancements to Drive Market Growth"

Recent market drift is increasing awareness of having domestic supply and focus on technology development to prevent from geopolitical volatile areas in cobalt-60. Many countries are bolstering domestic isotope production facilities due to global conflicts and shipping channels being disrupted in search of a more stable supply. Automated systems, real-time monitoring technologies and the upgraded safety protocols to process these facilities with aim in increasing operational efficiency as well as compliance with the regulations. Moreover, the demand for radiation with cobalt-60 in proactive applications like the most modern cancer therapy and precision food irradiation are on an upward trend. This change is not only spread of market, but it is also a way to provide long term growth as well with innovation and tech dependency less.

COBALT-60 MARKET SEGMENTATION

BY TYPE

Based on type, the global market can be categorized into low specific activity and high specific activity

• Low Specific Activity- Cobalt-60 is commonly used in processes where high radiation intensity is not necessary e.g. industrial radiography, food irradiation. Low Specific Activity and easy handling suitable for large scale material processing beyond medical applications.
• High Specific Activity- High specific activity Cobalt-60 High activity Cobalt-60 is ideal for applications in which you need a high radiation dose concentration, therapy of cancer and sterilization of medical equipment. It emits very high energy gamma rays; therefore, this can be used for selective therapeutic procedures and ultra-efficient sterilization.

BY APPLICATION

Based on application, the global market can be categorized into medical application, industrial application and others

• Medical Application- It is a necessary element in external beam radiotherapy for cancer patients because of the robust gamma ray source it provides. It is also for sterilizing single-use medical devices and serves as another defense mechanism to ensure we practice safe healthcare.
• Industrial Application- In the industrial sector, Cobalt-60 is employed in non-destructive testing to evaluate the structural integrity of metal components and welds. It also plays a significant role in the irradiation of food and packaging to extend shelf life and eliminate pathogens.
• Others- Other applications of Cobalt-60 include use in research, agricultural mutation breeding, and safety inspection systems. These niche segments contribute to steady demand across specialized scientific and technical domains.

MARKET DYNAMICS

Market dynamics include driving and restraining factors, opportunities and challenges stating the market conditions.

DRIVING FACTORS

"Rising Demand for Cancer Treatment and Radiotherapy to Boost the Market"

Cobalt-60, is of course a radioisotope used in external beam radiotherapy especially to treat cancers and is therefore an integral part of the oncologist's tool box in contemporary medical care. Given the growth in global cancer incidence associated with ageing populations, pollution and modifiable behavior risks, radiotherapy solutions are becoming a high-priority component of healthcare systems. Cobalt-60 based teletherapy machines are cheaper and easier to obtain compared to top-end linear accelerators in numerous developing regions, supplanted as frontline cancer care. Furthermore, development of targeted radiation therapies has combined with the demand for this. Radiotherapy centers are being established with the assistance of governments and international health bodies to make treatment for cancer more accessible. The need for affordable radiotherapy becomes even more pressing with the rising consciousness on early detection and cure of cancer. Together with these factors drive the cobalt-60 market growth and are an ubiquitous part of battle against cancer.

"Growing Adoption in Industrial Irradiation Applications to Expand the Market"

Cobalt-60 is a common source of irradiation in industry medical device sterilization, preservation of food and pharmaceuticals safety. Broad-based implementation of gamma irradiation has gained traction globally owing to heightened risk perception for food borne illnesses and contamination. Cobalt-60 is also a medical marvel used to sterilize one-time-use medical devices such as syringes, surgical instruments and implants to prevent patient contamination. These are approved by regulatory authorities i.e., FDA and IAEA for its efficiency in eradicating bacteria, viruses and fungi nothing on chemicals. In addition to sterilization, cobalt-60 is used in non-destructive testing (NDT) to validate the strength of critical infrastructure including pipelines, bridges and aircraft components. Given that the focus of industry has shifted towards product safety, durability and quality control, this is also helping in driving Cobalt-60 market expansion across different segments backed by an increase in application of irradiation techniques.

RESTRAINING FACTOR

"Stringent Regulatory Controls and Safety Concerns to Potentially Impede Market Growth"The market growth of Cobalt-60 is majorly hampered by stringent regulatory frameworks as well as the safety issues involved with the handling of radioactive materials. Cobalt-60is a high energy gamma emitter, and so its production, packaging and shipment disposal must be in full compliance with all regulatory regimens to minimize radiation exposure as well as environmental contamination. Governments and international bodies, such as the agencies of the International Atomic Energy Agency (IAEA) require very strict control on its use which therefore makes procurement and approval processes protracted and labyrinthine. Indeed, heightened security measures, driven by worries over radiological misuse, are driving up the expense of suppliers and users to operate. Moreover, disposing of the cobalt-60 sources once they are no longer viable must be done in a very specific way, with proper handling and decontamination steps adding both financial and logistical hurdles. These regulatory and safety barriers only slow down the growth, thus putting a cap on Cobalt-60 market based in locations with get tough on nuclear material control policies.

OPPORTUNITY

"Expanding Applications in Medical and Industrial Sectors to Create Opportunity for the Product in the Market"

Cobalt-60 market is progressing on an increasing medical the industrial opportunity base. Increased incidence of cancer in healthcare has raised the requirement of using cobalt-60 for radiation therapy overall, particularly in the developing countries where cost-efficient treatment options are required. The utilization of cobalt-60 in medical applications will also become more prevalent as healthcare infrastructures continue to develop and radiotherapy reaches other parts of the globe through the healthcare. Likewise, there are good prospects for industrial uses including sterilization of medical devices, food irradiation and non-destructive testing, etc. Improving efficiency and reliability of sterilization processes are very important with the rise that has been seen especially post-COVID, cobalt-60 to be required for keeping product safe. In addition, R & D initiatives in the realm of nuclear and governmental spending rise for radiation-based solutions is likely pave way for fresh opportunities and especially speed up the Cobalt-60 market growth in different applications areas.

CHALLENGE

"Supply Chain Vulnerabilities and Regulatory Constraints Could Be a Potential Challenge for Consumers"

One of the biggest challenges that confine Cobalt-60 market growth is its open supply chain. As a byproduct made from nuclear reactors, the cobalt-60 supply follows reactor operational schedules, geopolitical factors, and top-level regulations on nuclear materials. Reactor operation delays due to maintenance, policy change, or unforeseen shutdowns may result in supply shortages and price instability. Furthermore, transport and storage of radioactive materials are controlled by strict global regulations, which cause logistics issues and enormous expenses for producers and distributors. Another challenge is mounting public pressure on nuclear waste disposal since unsafe disposal of cobalt-60 sources threatens the health of individuals and the environment. Addressing these challenges involves rational partnerships between governments, research institutions, and private sector stakeholders to provide end-to-end stable and sustainable supply chains.

COBALT-60 MARKET REGIONAL INSIGHTS

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• NORTH AMERICA

United States Cobalt-60 market dominates North America because of its strong healthcare infrastructure and high application of cobalt-60 in radiation therapy and medical device sterilization. With sophisticated nuclear facilities and ongoing isotope production, the region has a solid supply chain. Increasing cancer cases and government support for radiological healthcare are driving demand. Partnerships between research centers and medical device firms further boost growth. But stringent regulatory measures regarding storage and handling of radioactive material can inhibit growth. Sustained innovation and utilization of cobalt-60 in non-destructive testing in various industries are also leading to the region's sustained market growth.

• EUROPE

The Cobalt-60 market share in Europe is gradually increasing with the support of technology and rapid adoption in medical and industrial applications. Germany, France, and the UK make heavy use of cobalt-60 in radiotherapy, sterilization, and food irradiation. Government support for cancer treatment availability and research in nuclear medicine is fueling demand. Additionally, collaborations with international producers of isotopes provide stable supply lines. Investments in nuclear education and infrastructure are improving industry knowledge. Yet, public security issues and rigorous nuclear waste policies could be problematic. In spite of this, the region remains committed to pioneering new uses of cobalt-60 technologies.

• ASIA

The Cobalt-60 market in Asia is experiencing swift growth as a result of increasing healthcare demands and the increased demand for cancer treatment. China, India, and Japan are investing heavily in radiotherapy facilities and implementing cobalt-60 for medical and industrial sterilization. Government programs and enhanced nuclear medicine funding are bolstering market prospects. Asia is also emerging as a production hub and training center for isotopes, which is driving industry growth. Nevertheless, the area is also plagued by challenges like uneven rules and radioactive waste disposal issues. Generally, robust economic growth and technological progress are making Asia a prime market for cobalt-60.

KEY INDUSTRY PLAYERS

"Key Industry Players Shaping the Market Through Innovation and Market Expansion"

Major industry players in the Cobalt-60 industry are actively working on increasing capacity, streamlining supply chain, and making strategic alliances to ensure market competitiveness. Major companies are investing in nuclear research centers and partnering with healthcare providers to provide a consistent supply of high-purity cobalt-60 for applications like cancer radiotherapy and equipment sterilization. Aid is also forthcoming to upgrade reactor facilities and incorporate advanced safety mechanisms to satisfy regulation requirements. Besides, certain industry players are investing in international alliances to diversify supply and broaden global presence and ensure supply stability in the wake of geopolitical unrest. Furthermore, firms are embedding digital monitoring solutions to maximize the production of isotopes and cut operational expenses. Most are also undertaking sustainability initiatives to enhance waste management and radiation protection. Ongoing R&D activities are aimed at designing next-generation cobalt-60 sources with greater energy output and extended half-life to meet changing demands of the medical and industrial industries.

LIST OF TOP COBALT-60 COMPANIES

• Nordion (Canada)
• China National Nuclear Corporation (China)
• Rosatom (Russia)
• Eckert & Ziegler Strahlen (Germany)
• Polatom (Poland)
• NTP (South Africa)
• DIOXITEK (Argentina)

KEY INDUSTRY DEVELOPMENT

January 2025: Ontario Power Generation's (OPG) Darlington Nuclear Generating Station's Unit 1, in collaboration with Nordion, began producing Cobalt-60 isotopes following its refurbishment. These isotopes are essential for sterilizing approximately 30% of the world's single-use medical devices and for treating certain food products. OPG plans to modify Darlington's other units to produce Cobalt-60, ensuring a stable global supply. The harvested Cobalt-60 will be processed and distributed globally by Nordion, reinforcing their commitment to safeguarding global health.

REPORT COVERAGE

The Cobalt-60 market report offers a comprehensive analysis of the market by segmenting it based on type and application. The type segment includes Low Specific Activity and High Specific Activity, while the application segment covers Medical Application, Industrial Application, and Others. The report provides detailed insights into market size estimations, historical trends, current dynamics, and future growth projections. It also explores demand patterns, pricing trends, and supply chain structures that influence the overall market environment. The study highlights how advancements in technology and radiation-based therapies are driving shifts in product development and utilization across sectors.

In addition to market segmentation, the report presents a thorough regional analysis focused on North America, Europe, and Asia. It examines regulatory frameworks, infrastructure development, and investments in nuclear medicine and industrial irradiation facilities within these regions. The competitive landscape section features key industry players, outlining their strategic initiatives, product launches, partnerships, and market positioning. The report also evaluates challenges such as radioactive waste management and supply consistency, while identifying opportunities related to the increasing use of cobalt-60 in cancer treatment and food sterilization. By providing actionable insights and data-backed assessments, the report serves as a vital tool for stakeholders involved in manufacturing, healthcare, and nuclear technology.