India's Diagnostic Power-Up: Landmark €7M Deal to Build New Cyclotron Network

LOUVAIN-LA-NEUVE, Belgium – February 19, 2026 – In a significant move to bolster India’s healthcare infrastructure, Belgian particle accelerator leader IBA has signed a multi-site agreement with Shreeji Imaging and Diagnostic Centre Pvt. Ltd., one of India's foremost radiopharmaceutical manufacturers. The deal, valued between €5 and €7 million, will see the installation of four mid-energy Cyclone® KIUBE 300 cyclotrons in key regional hubs across India.

The new systems are slated for deployment in Ahmedabad, Nagpur, Kochi, and Bhubaneswar. This strategic expansion is designed to dramatically scale up the domestic production of critical medical isotopes used in Positron Emission Tomography (PET) scans, a cornerstone of modern cancer diagnostics, cardiology, and neurology.

This partnership marks a pivotal moment for nuclear medicine in the nation, aiming to create a decentralized, resilient supply chain for radiopharmaceuticals and enhance patient access to life-saving diagnostic procedures.

Tapping into India's Surging Healthcare Demand

The agreement arrives as India's nuclear medicine market experiences explosive growth. Projections indicate the Indian radiopharmaceuticals market is set to more than double in the next decade, soaring from an estimated USD 484 million in 2025 to over USD 1.06 billion by 2035, with a compound annual growth rate (CAGR) exceeding 8%. PET radioisotopes like Fluorine-18 (F-18), which these new cyclotrons will produce, are at the forefront of this expansion.

This surge is driven by a confluence of factors, including a rising incidence of non-communicable diseases like cancer and cardiovascular conditions, coupled with growing public awareness of early diagnostic benefits. Furthermore, government initiatives such as the Ayushman Bharat program are actively working to expand healthcare infrastructure beyond major metropolitan centers into tier-2 and tier-3 cities, creating new demand for advanced medical technologies.

Until now, access to PET scans has been largely concentrated in India's largest cities. The resulting logistical hurdles and supply-chain vulnerabilities have often created delays and limited availability for millions. This deal directly confronts that challenge by bringing the means of production closer to a wider patient population.

The Race Against Time: Decentralizing Isotope Production

The core of the challenge in PET imaging lies in the physics of the isotopes themselves. The most common PET tracer, Fluorodeoxyglucose (FDG), is made with Fluorine-18, a radioisotope with a half-life of just under 110 minutes. This means that from the moment it is created, half of its potency is gone in less than two hours, making long-distance transportation a frantic race against the clock that risks shipment delays and product degradation.

By establishing a multi-node network of cyclotrons in Ahmedabad (West), Nagpur (Central), Kochi (South), and Bhubaneswar (East), Shreeji is fundamentally re-architecting its supply chain. This decentralization dramatically shortens the distance between production and patient, ensuring that hundreds of hospitals and clinics in these regions receive a more reliable, timely, and high-quality supply of PET tracers.

“With four new systems coming online, we are significantly boosting domestic production, strengthening supply‑chain resilience, and accelerating our ability to introduce next‑generation tracers that enhance patient care,” said Amit Maniar, Director at Shreeji. He noted that the expansion is expected to “stimulate latent PET demand by ensuring cost‑effective, dependable access” and adds critical redundancy to the network to ensure consistent service nationwide.

Inside the Cyclone® KIUBE: The Technology Fueling the Expansion

At the heart of this expansion is IBA’s Cyclone® KIUBE 300, a particle accelerator specifically engineered for the high-volume, industrial-scale production of PET radiopharmaceuticals. Shreeji's selection of this platform was based on several key technological advantages crucial for its ambitious national scale-up.

The system's high beam current capability allows for the production of a larger quantity of isotopes in each run, maximizing output and efficiency. Its reputation for industrial reliability is paramount for a network that will supply over 300 hospitals, minimizing downtime and ensuring a consistent, GMP-compliant (Good Manufacturing Practices) supply for clinicians who depend on it for daily patient scheduling.

Furthermore, the Cyclone® KIUBE offers a clear upgrade path. This future-proofs Shreeji’s investment, allowing the company to adapt its production capabilities as new and more sophisticated PET tracers are developed for more targeted and personalized medicine.

“India's nuclear medicine community is growing fast, and reliable, local manufacturing is fundamental to patient access,” commented Charles Kumps, President of IBA RadioPharma Solutions. “Partnering with Shreeji to deploy multiple Cyclone® KIUBE systems creates a resilient, multi-node network that supports the next phase of PET growth in India while improving consistency of supply for clinicians and their patients.”

A Strategic Play for Market Leadership

For both companies, this agreement is a calculated strategic move. For Shreeji, it solidifies its dominance as the operator of India’s largest PET radiopharmacy network. By investing heavily in its own manufacturing capacity, the company reduces its reliance on imports, gains control over its supply chain, and positions itself to meet the healthcare needs of India’s emerging economic hubs.

For IBA, the deal represents a major reinforcement of its presence in the Asia-Pacific region, which is poised to be the fastest-growing market for PET imaging globally. Securing a multi-system contract with a market leader like Shreeji not only provides a significant revenue stream but also expands its installed base, creating long-term opportunities for service, support, and future upgrades.

Navigating the complex regulatory landscape, which involves approvals from both India's Central Drugs Standard Control Organization (CDSCO) for pharmaceuticals and the Atomic Energy Regulatory Board (AERB) for radiation safety, will be a critical step for each of the four new facilities. However, the initiative aligns perfectly with national priorities like the 'Make in India' campaign, which encourages domestic production of critical goods.

This strategic deployment of advanced technology is set to redefine the landscape of nuclear medicine in the country, promising a new era of faster, more reliable diagnostics for millions of patients.