What is Global Molybdenum-99 & Technetium-99m Market?
The Global Molybdenum-99 & Technetium-99m Market is a specialized sector within the broader pharmaceutical and healthcare industry. Molybdenum-99 (Mo-99) and Technetium-99m (Tc-99m) are radioactive isotopes used extensively in medical imaging and diagnostic procedures. Mo-99 decays into Tc-99m, which is used in over 80% of nuclear medicine procedures worldwide. These isotopes are crucial in detecting and diagnosing a wide range of diseases, including heart disease, cancer, and various neurological disorders. The market for these isotopes is driven by the increasing prevalence of these diseases and the growing demand for effective diagnostic procedures. However, the production and supply of Mo-99 and Tc-99m are complex and require sophisticated nuclear technology, which presents significant challenges for the market.
Radioactive Source, Radiopharmaceutical in the Global Molybdenum-99 & Technetium-99m Market:
The Global Molybdenum-99 & Technetium-99m Market is segmented based on the source of the isotopes and their applications. The isotopes can be produced from Low Enriched Uranium (LEU) or Highly Enriched Uranium (HEU). LEU-based production is the most common, accounting for about 66% of the market. The primary application of these isotopes is in medical imaging, which accounts for about 98% of the market. However, they are also used in scientific research and other applications. The market is dominated by a few major companies, which hold about 61% of the market share. North America is the largest market, accounting for about 54% of the market, followed by Europe and the Asia-Pacific region.
Medical, Santific Research, Others in the Global Molybdenum-99 & Technetium-99m Market:
The Global Molybdenum-99 & Technetium-99m Market is expected to grow at a Compound Annual Growth Rate (CAGR) of 3.9% from 2023 to 2029. The market was valued at US$ 532.8 million in 2022 and is projected to reach US$ 715.2 million by 2029. This growth is driven by the increasing demand for effective diagnostic procedures and the growing prevalence of diseases that require these procedures. However, the market faces significant challenges, including the complex production and supply of the isotopes and the need for sophisticated nuclear technology. Despite these challenges, the market is expected to continue its steady growth in the coming years.
Global Molybdenum-99 & Technetium-99m Market Outlook:
In conclusion, the Global Molybdenum-99 & Technetium-99m Market is a vital part of the healthcare industry, providing crucial isotopes for medical imaging and diagnostic procedures. The market is expected to grow steadily in the coming years, driven by the increasing demand for these procedures and the growing prevalence of diseases that require them. However, the market faces significant challenges, including the complex production and supply of the isotopes and the need for sophisticated nuclear technology. Despite these challenges, the market is expected to continue its steady growth in the coming years.
| Report Metric | Details |
| Report Name | Molybdenum-99 & Technetium-99m Market |
| Accounted market size in 2023 | US$ 556.7 million |
| Forecasted market size in 2029 | US$ 700.3 million |
| CAGR | 3.9 |
| Base Year | 2023 |
| Forecasted years | 2023 - 2029 |
| Segment by Type |
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| Segment by Application |
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| Production by Region |
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| Sales by Region |
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| By Company | NRG, NTP Radioisotopes, ANSTO, Nordion, IRE, Curium Pharma, Eckert & Ziegler Strahlen, China Isotope & Radiation Corporation (CIRC), Polatom, Board of Radiation and Isotope Technology, Mayak |
| Forecast units | USD million in value |
| Report coverage | Revenue and volume forecast, company share, competitive landscape, growth factors and trends |
