Press release
Technetium-99m Market Forecast 2034: Rising Demand for Diagnostic Imaging and Radiopharmaceuticals to Propel Market Expansion | Transparency Market Research, Inc
Technetium-99m Market
Discover essential conclusions and data from our Report in this sample -
https://www.transparencymarketresearch.com/sample/sample.php?flag=S&rep_id=77100
Analysts' Viewpoint
The Technetium‐99m market is thriving as healthcare demands evolve and technological innovations continue to advance nuclear imaging. With governments worldwide investing in healthcare infrastructure and diagnostic imaging, the market is poised to benefit from:
Enhanced Diagnostic Capabilities: Innovative SPECT detector technology and high-resolution imaging systems are dramatically improving diagnostic accuracy.
Expanding Clinical Applications: A rising demand for cardiac scans, supported by state‐of‐the‐art CT hardware and advanced software solutions, is broadening the scope of noninvasive imaging.
Government Initiatives: Strategic public sector investments in healthcare and radiopharmaceutical production are bolstering market opportunities.
Market Introduction
Technetium‐99m is a pivotal radioisotope in nuclear medicine, forming the cornerstone of diagnostic imaging procedures ranging from urinary tract assessments to cardiac evaluations. Its widespread use is underpinned by the continuous improvement in imaging technologies-especially SPECT-that not only shorten acquisition times but also enhance image clarity and diagnostic precision.
Expansion in healthcare infrastructure, rising healthcare expenditure, and global initiatives aimed at early disease detection are key drivers of Technetium‐99m market demand. As healthcare providers and researchers increasingly recognize the benefits of advanced radiopharmaceuticals, numerous opportunities are emerging for stakeholders across the value chain.
Market Drivers
Growth in Investment in Healthcare:
Enhanced investments in global healthcare-amplified by post‐COVID initiatives and the WHO Global Strategy on Human Resources for Health-are creating a surge in demand for advanced diagnostic imaging. For instance, India's establishment of a National Medical Commission and the creation of 1.5 million jobs in the public healthcare sector are expected to further boost demand for Technetium‐99m, particularly for urinary tract imaging.
Increase in Prevalence of Chronic and Noncommunicable Diseases:
With over 40 million deaths attributed to noncommunicable diseases (NCDs) annually, there is a growing need for early diagnosis and effective treatment. Nuclear imaging techniques-including SPECT, PET, and CT-play a crucial role in identifying conditions such as cardiovascular diseases, cancer, and Alzheimer's disease.
High Demand for Cardiac Scans:
The cardiac scan segment is witnessing rapid growth, propelled by technological breakthroughs such as faster CT gantry rotation speeds, expanded detector coverage, and enhanced spatial resolution. These advancements facilitate noninvasive imaging of the beating heart, eliminating the need for beta‐blockers in some cases and widening the patient pool eligible for early diagnosis.
Advancements in SPECT Detector Technology:
The introduction of high‐sensitivity detectors like Cadmium‐Zinc‐Telluride has reduced acquisition times and improved energy resolution. Enhanced SPECT/CT imaging now offers superior diagnostic accuracy, paving the way for expanded applications in both clinical and preclinical research.
Gain a deeper perspective by visiting our detailed report -
https://www.transparencymarketresearch.com/global-technetium-99m-market.html
Regional Outlook
North America currently dominates the Technetium‐99m market. Regulatory bodies such as the US FDA and NRC have established stringent safety standards for radiopharmaceutical use, while government programs and grants bolster research and development. Strategic partnerships between public institutions and private firms, supported by agencies like the NIH and DOE, continue to drive technological advancements and market adoption.
Analysis of Key Players
The competitive landscape of the Technetium‐99m market is robust, with several key players adopting strategies such as product launches, acquisitions, and technological collaborations. Leading manufacturers include:
Advanced Accelerator Applications S.A.
Advanced Cyclotron Systems, Inc.
Bayer AG
GE Healthcare
Philips Healthcare (Koninklijke Philips N.V.)
Siemens Healthineers
Eckert & Ziegler
IBA Radiopharma Solutions
Medi‐Radiopharma Kft.
Lantheus Holdings, Inc.
Nordion, Inc.
Sumitomo Heavy Industries, Ltd.
NTP Radioisotopes SOC Ltd
Isotope JSC.
China Isotope & Radiation Corporation
SDS Lifesciences Pvt. Ltd.
BWX Technologies, Inc.
Jubilant Life Sciences
Key Developments
MEDI‐RADIOPHARMA's EU Funding (November 2023):
MEDI‐Radiopharma secured HUF 854.33 million in EU funding to upgrade its production process at a state‐funded facility. The company plans to increase production capacity to 1.5 million units annually and launch a groundbreaking study under the GINOP PLUSZ initiative to develop a positron‐emitting radiopharmaceutical tagged with the 68Ga isotope. This pioneering effort, expected to be commercially available in 2025, aims to expand the company's market reach into the US.
BWXT Medical's FDA Submission (September 2022):
BWXT Medical submitted a drug application to the FDA for its technetium‐99m generators, which are crucial for over 40 million diagnostic procedures annually. Utilizing a proprietary neutron capture process for Mo‐99 production from natural molybdenum targets, the new generators are designed to seamlessly integrate into existing radiopharmacy supply chains, offering consistent Tc‐99m concentrations.
Market Segmentation
By Clinical Services:
Bone Scan, Renal Scan, Cardiac Scan, Neurology Scan
By Isotopic Application:
Gamma Camera, Single Photon Emission Computed Tomography (SPECT)
By End-User:
Hospitals, Diagnostic Centers, Others (Academics and Research Institutes, etc.)
Regions Covered:
North America, Latin America, ,Europe Asia Pacific, Middle East & Africa
Countries Covered:
U.S., Canada, Germany, U.K., France, Italy, Spain, China, India, Japan, Australia & New Zealand, Brazil, Mexico, South Africa, GCC Countries
Want to know more? Get in touch now. -https://www.transparencymarketresearch.com/contact-us.html
Frequently Asked Questions (FAQs)
How big was the Technetium‐99m market in 2023?
The market was valued at US$ 6.0 Billion in 2023.
What is the projected market size by 2034?
The market is expected to exceed US$ 8.6 Billion by 2034.
What is the expected CAGR during the forecast period?
The market is projected to grow at a CAGR of 3.3% from 2024 to 2034.
What factors are driving market growth?
Key drivers include increased healthcare investments, rising prevalence of chronic diseases, high demand for advanced cardiac scans, and technological advancements in SPECT imaging.
Which region dominates the Technetium‐99m market?
North America leads the market, supported by robust regulatory frameworks and significant government investments in healthcare and research.
Who are the leading players in the market?
Prominent companies include Advanced Accelerator Applications S.A., GE Healthcare, Philips Healthcare, Siemens Healthineers, and BWX Technologies, among others.
Explore Latest Research Reports by Transparency Market Research:
Blood Pressure Cuffs Market - https://www.transparencymarketresearch.com/blood-pressure-cuffs-market.html
Vaginal Slings Market - https://www.transparencymarketresearch.com/vaginal-slings-market.html
Stretcher Chairs Market - https://www.transparencymarketresearch.com/stretcher-chairs-market-2018-2026.html
Plasma Fractionation Market - https://www.transparencymarketresearch.com/plasma-fractionation-market.html
Biomarkers Market - https://www.transparencymarketresearch.com/biomarkers-market.html
About Transparency Market Research
Transparency Market Research, a global market research company registered at Wilmington, Delaware, United States, provides custom research and consulting services. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insights for thousands of decision makers. Our experienced team of Analysts, Researchers, and Consultants use proprietary data sources and various tools & techniques to gather and analyses information.
Our data repository is continuously updated and revised by a team of research experts, so that it always reflects the latest trends and information. With a broad research and analysis capability, Transparency Market Research employs rigorous primary and secondary research techniques in developing distinctive data sets and research material for business reports.
Contact:
Transparency Market Research Inc.
CORPORATE HEADQUARTER DOWNTOWN,
1000 N. West Street,
Suite 1200, Wilmington, Delaware 19801 USA
Tel: +1-518-618-1030
USA - Canada Toll Free: 866-552-3453
Website: https://www.transparencymarketresearch.com
Email: sales@transparencymarketresearch.com
Follow Us: LinkedIn| Twitter| Blog | YouTube
This release was published on openPR.
Permanent link to this press release:
Copy
Please set a link in the press area of your homepage to this press release on openPR. openPR disclaims liability for any content contained in this release.
You can edit or delete your press release Technetium-99m Market Forecast 2034: Rising Demand for Diagnostic Imaging and Radiopharmaceuticals to Propel Market Expansion | Transparency Market Research, Inc here
News-ID: 4133909 • Views: …
More Releases from Transparency Market Research
Equine Diagnostic Services Market Outlook 2030: From US$ 168 Million in 2019 to …
The global Equine Diagnostic Services Market, valued at approximately US$ 168 million in 2019, is projected to expand at a compound annual growth rate (CAGR) of ~5% from 2020 to 2030, reaching around US$ 280 million by 2030. Equine diagnostic services, encompassing tests like genetic, infectious disease, and imaging diagnostics, are critical for managing horse health in veterinary hospitals, clinics, and mobile settings. The market is driven by increasing equine…
Digital Printing Market to Reach USD 54.4 Billion by 2034, Growing at a CAGR of …
The digital printing market is experiencing strong growth, driven by rapid technological advancements, rising demand for personalized and on-demand printing, and an increasing focus on sustainable solutions. Digital printing allows for the direct transfer of digital files onto a wide range of substrates, offering high-resolution output with greater speed and flexibility. Its adaptability has led to broad adoption across industries such as packaging, textiles, publishing, and advertising-sectors where customization, efficiency,…
Global Biophotonics Market Set for Robust Growth through 2034 Amid Rising Demand …
Biophotonics an interdisciplinary field merging photonics and biology-is revolutionizing diagnostics, therapeutics, and biomedical research. From detecting pathogens in food to diagnosing chronic conditions with non-invasive imaging techniques, biophotonics has become indispensable across medical and non-medical sectors. As the world seeks precision, safety, and efficiency in healthcare, the global biophotonics market is poised for exponential growth, driven by technological innovation, increasing healthcare demands, and enhanced investment in R&D.
Market Overview: The global…
Central Nervous System (CNS) Therapeutics Market Forecast 2034: Advancements in …
The central nervous system (CNS) plays a crucial role in controlling and coordinating bodily functions, and disorders affecting the CNS can have severe consequences on cognitive, motor, and sensory functions. Conditions such as Alzheimer's disease, Parkinson's disease, epilepsy, stroke, and multiple sclerosis are becoming increasingly prevalent worldwide, necessitating continued advancements in CNS therapeutics.
The global CNS therapeutics market was valued at US$ 102.4 billion in 2023 and is expected to grow…
More Releases for Technetium‐99m
Technetium-99m Market Comprehensive Analysis and Future Estimations by 2030
The Technetium-99m Market size is expected to grow from US$ 4.268 billion in 2022 to US$ 6.072 billion by 2030; it is anticipated to record a CAGR of 4.5% from 2022 to 2030.
Based on the technetium-99m market analysis, key factors driving the market are the high prevalence of chronic diseases and advancements in nuclear imaging techniques. However, the short shelf-life of radiopharmaceuticals hinders the technetium-99m market growth.
Get Exclusive Sample PDF…
Technetium-99m Market to Explore Emerging Trends of Coming Years
According to a Transparency Market Research (TMR) research report, the global technetium-99m market is expected to reach ~US$ 4 Bn by the end of 2030. This suggests that the market is likely to expand at a CAGR of 3.5% during the forecast period, 2020 to 2030.
The business intelligence study on the market is prepared by employing industry-validated primary and secondary methods. The study uses these to collect data, analyze them,…
Canada Technetium-99m Market Growth Trends and Development Report
The global technetium-99m market is estimated to attain a valuation of ~US$ 4 Bn by the end of 2030, states a study by Transparency Market Research (TMR). Besides, the report notes that the market is prognosticated to expand at a CAGR of 3.5% during the forecast period, 2020 to 2030.
The key objective of the TMR report is to offer a complete assessment of the global market including major leading stakeholders…
Technetium-99m Market - Positive long-term growth outlook 2024
The technetium-99m market in the Middle East and Africa is expected to witness moderate growth during the forecast period from 2016 to 2026. The high installed base of gamma cameras in various countries in the Middle East, better product availability in hospitals, and a gradual rise in awareness about cancer in the region are the key factors contributing toward the growth of the technetium-99m market in the MEA. Multinational companies…
Technetium-99m Market Global Strategy Analysis, Forecast Research Report
Technetium-99m Market: Snapshot
The technetium-99m market in the Middle East and Africa is expected to witness moderate growth during the forecast period from 2016 to 2026. The high installed base of gamma cameras in various countries in the Middle East, better product availability in hospitals, and a gradual rise in awareness about cancer in the region are the key factors contributing toward the growth of the technetium-99m market in the…
Technetium-99m Market Report: 2024 Edition with leading Players
Some of the leading companies operating in the Middle East and Africa technetium-99m market are General Electric Company, Sumitomo Heavy Industries, Ltd., Siemens Healthineers, Advanced Cyclotron Systems, Inc., and IBA. Transparency Market Research finds that most companies in this avenue are focused on presenting a diverse and technologically advanced product portfolio to maintain a strong foothold in the technetium-99m market. Establishing a strong distribution channel and making the most of…
