“The report on Technetium-99m Market was recently published by SDKI, which includes the latest market trends, current and future opportunities along with the factors that are driving the growth of the market. This report further encompasses the records for the expansion of the market along with information on the investment opportunities that help the clients to take positive decisions on the parameters for gaining profitable revenues. Moreover, the report also contains identification and investigation of the market structure, in-depth qualitative analysis, restraints & challenges, growth drivers, emerging product trends & market opportunities and Porter’s five forces.
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Technetium-99m Market: Introduction
- According to the latest market report on the global Technetium-99m market for the historical period 2022-2031 and forecast period 2022-2031, factors such as increase in per-capita healthcare expenditure; rise in nuclear imaging and healthcare infrastructure such as cardiac institute & hospitals; and rapid urbanization in developing countries such as in Asia is expected to increase the influx of emigrant population, which requires sufficient healthcare services to cater to the unmet medical needs, are anticipated to drive the global Technetium-99m market
- According to the report, the global Technetium-99m market was valued at US$ 2.7 Bn in 2019 and is projected to expand at a CAGR of 3.5% from 2022-2031
Increase in Purchasing Power of Hospitals and Technological Advancements: Key Drivers in Technetium-99m Market
- Rise in disposable income of people in emerging economies is expected to enable them to avail better healthcare facilities. Hence, availability of better imaging techniques are likely to prompt healthcare service providers to make significant investments in advanced medical automation technologies in order to meet patient needs, improve operational efficiency, and save both service costs and time. This is anticipated to drive the global Technetium-99m market.
- Radionuclide medicine is primarily used in hospitals, owing to high usage of Technetium-99m in treatment. According to the World Nuclear Association, 95% of the radioisotopes in the form of nuclear medicine are utilized by hospitals. The trend of development of technetium-99m has come into existence due to the introduction of SPECT and gamma camera systems for cardiac diagnosis and imaging techniques. Introduction of SPECT systems regionally has driven the production of photon emitting radioisotopes (Technetium-99m), which fuels the global Technetium-99m market.
Major Shift from SPECT to SPECT/CT
- The field of nuclear medicine is conquered by applications related to single-photon emission computerized tomography (SPECT). Increase in applications of SPECT technology in respiratory & renal, cardiac, and neurological disorders is anticipated to drive the Technetium-99m market. Various SPECT procedures are performed in cardiology and pulmonary. Orthopedics, renal, and central nervous system imaging are developing areas that can also benefit these procedures which augment the Technetium-99m market.
- Hybrid imaging modalities in the field of nuclear medicine is an emerging trend in the diagnostic imaging industry. Hybrid SPECT/CT machines have largely contributed toward better and early diagnosis and recurrence of cardiovascular diseases. This is anticipated to propel the global Technetium-99m market in the next few years.
- Launch of such value-based SPECT with high diagnostic accuracy, strong prognostic power, and low radiation dose have resulted in increase in adoption of SPECT/CT machines in hospitals and diagnostic centers. This is likely to fuel the growth of the global Technetium-99m market.
Stringent Regulatory Guidelines and Supply Shortage of Technetium-99m to Hamper Global Market
- Production, storage, and usage of radioisotopes require proper precautions, as radioisotopes generate radiation, which can affect mass population and the environment. Approval from the Food and Drug Administration and Medicines and Healthcare Products Regulatory Agency is mandatory for any usage, storage, or production of radioisotopes.
- According to the Nuclear Regulatory Commission, approximately 6,000 licenses are maintained for the use of radioactive materials; violation of agreement leads to enforcement actions, including loss of license
- Supply of Technetium-99m is unstable globally and is expected to reduce in the near future due to shut down of major reactors (Canada and the Netherlands), which is likely to hamper the global technetium-99m market. According to the Nuclear Energy Agency (NEA), supply of radioisotopes started deflating from 2016, not simply from reactors, but due to processing limitations such as transport, demand management, and communications, which is likely to hamper the global Technetium-99m market.
Technetium-99m Market: Competition Landscape
- This report profiles major players in the global Technetium-99m market based on various attributes such as company overview, financial overview, product portfolio, business strategies, and recent developments in Technetium-99m market
- The global Technetium-99m market is highly consolidated, with the presence of small number of players
- Leading players in the global Technetium-99m market include GE Healthcare, Lantheus Medical Imaging, Inc., Curium, Siemens Healthineers, Advanced Accelerator Applications, Bayer AG, Eckert & Ziegler, Philips, and Jubilant Life Sciences Limited
Technetium-99m Market: Key Developments
- Key players in the global Technetium-99m market are engaged in regulatory approvals, introduction of technologically advanced products, acquisitions, and collaborative agreements with other companies. Major developments by key players are likely to fuel the global Technetium-99m market.
- In April 2017, IBA Molecular and Mallinckrodt Nuclear Medicine LLC collaborated to create a new radiopharmaceutical company, Curium
- The report on the global Technetium-99m market discussed individual strategies, followed by company profiles of manufacturers of Technetium-99m products. The competition landscape section has been included in the Technetium-99m market report to provide readers with a dashboard view and a company market share analysis of key players operating in the global Technetium-99m market.
Technetium-99m Market – Scope of the Report
The report on the global Technetium-99m market studies past as well as current growth trends and opportunities to gain valuable insights of the same indicators for the market during the forecast period from 2020 to 2030. The report provides revenue of the global Technetium-99m market for the period 2018–2030, considering 2019 as the base year and 2030 as the forecast year. The report also provides the compound annual growth rate (CAGR) for the global Technetium-99m market during the forecast period.
The report has been prepared after an extensive primary and secondary research. Primary research involved bulk of research efforts, wherein analysts carried out interviews with industry leaders and opinion makers. Extensive secondary research involved referring to key players’ product literature, annual reports, press releases, and relevant documents to understand the global Technetium-99m market.
Secondary research also includes Internet Isotopic Applications, statistical data from government agencies, websites, companies’ presentations, sales data, and trade associations. Analysts have employed a combination of top-down and bottom-up approaches to study various phenomenon in the global Technetium-99m market.
The report includes an elaborate executive summary, along with a snapshot of the growth behavior of various segments included in the scope of the study. Furthermore, the report sheds light on changing competitive dynamics in the global Technetium-99m market. These indices serve as valuable tools for existing market players as well as for entities interested in entering the global Technetium-99m market.
The report delves into the competitive landscape of the global Technetium-99m market. Key players operating in the global Technetium-99m market have been identified, and each one of these has been profiled for distinguishing business attributes. Company overview, financial standings, recent developments, and SWOT are some of the attributes of players in the global Technetium-99m market that have been profiled in this report.
Key Questions Answered in Technetium-99m Market Report
- What is the scope of growth of TC-99 in the Technetium-99m market?
- What will be the Y-o-Y growth of the Technetium-99m market between 2020 and 2030?
- What is the influence of changing trends in SPECT/CT on the global Technetium-99m market?
- Will North America continue to remain the most profitable regional market for Technetium-99m providers?
- Which factors are anticipated to impede the growth of the global Technetium-99m market during the forecast period?
- Which are the leading companies in the global Technetium-99m market?
A unique research methodology has been utilized to conduct comprehensive research on the growth of the global Technetium-99m market and arrive at conclusions on its growth prospects. This research methodology is a combination of primary and secondary research, which helps analysts warrant the accuracy and reliability of the drawn conclusions.
For more information about this report visit: Technetium-99m Market“
Secondary methods referred to by analysts during the production of the global Technetium-99m market report include statistics from company annual reports, SEC filings, company websites, investor presentations, regulatory databases, government publications, and industry white papers. Analysts have also interviewed senior managers, product portfolio managers, CEOs, VPs, and market intelligence managers, who contributed to the production of the study on the Technetium-99m market as primary methods.
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