MEA Technetium-99m Market is Projected to be Around US$ 636.1 Mn By 2026
Technetium-99m is a medical radioisotope and used in gamma camera and SPECT for body imaging. SPECT is a highly sensitive technique to detect the parathyroid adenomas in the human body. It uses gamma camera for imaging purposes. Gamma camera is available separately for bone marrow and cardiac imaging, and is known as planar camera. Technetium-99m is widely used in hospitals and diagnostic centers and in some research institutes for diagnostic purposes. Rising number of cancer patients and cardiovascular ailments are expected to underpin the technetium-99m market. Technetium-99m is the preferred radioisotope for medical imaging due to its short half-life and appropriate energy emission for perfect image. It is generated by source named molybdenum, which is an abundantly present on earth. However, the process of producing its daughter isotope is a rigorous task it represents a high value in terms of availability. Technetium-99m can be produced by molybdenum-99 and molybdenum-100 but the both sources are utilized by two different manufacturing process i.e. from nuclear reactor on a large scale and from cyclotron & accelerator on a small scale governed by any hospital facility. An injection of technetium-99m is combined with albumin and administered to the patient for scanning lungs, for brain scanning it is aggregated with hexamethylpropyleneamine oxime and for detecting the cancerous breast masses it is combined with methoxyisonitrile (MIBI). Technetium-99m market in MEA region is expected to expand at a significant CAGR over the forecast period representing high incremental opportunity.
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The report is a combination of primary and secondary research. Primary research formed the bulk of our research efforts, with information collected from telephonic interviews and interactions via e-mail. Secondary research involved study of company websites, annual reports, press releases, stock analysis presentations, and various national and international databases. The report provides market size in terms of US$ Mn for each segment for the period from 2016 to 2026, considering the macro and micro-environmental factors. Growth rates for each segment within the MEA technetium-99m market have been determined after a thorough analysis of past trends, demographics, future trends, technological developments, vaccination expenditure, and regulatory requirements.
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The market overview section of the report includes qualitative analysis of the overall technetium-99m market including the determining factors and market dynamics such as drivers, restraints, market trends and opportunities, along with white space analysis. In addition, market attractiveness analysis by country, isotopic application and end-user along with competitive landscape by key players have been provided which explain the intensity of competition in the market considering different geographical locations. The competitive scenario between market players has been evaluated through market share analysis. These factors would help the market players take strategic decisions in order to strengthen their positions and increase their shares in the MEA market. Pricing and cost teardown analysis holds a crucial part of the report, which further describes the cost to end-user and cost to patient.
The market is driven by changing prevalence of diseases and rising affluence. The market is projected to grow due to increasing investment in healthcare sector. Technetium-99m being produced on large scale by the nuclear reactors are expected to be limited in future due to ageing of the major technetium-99m producing reactors around the world. In terms of end-user hospital segment projected to expand at a high CAGR on the backdrop of growing investment and funding from U.A.E. The diagnostic center and cardiac care center are expected to expand at a high CAGR over the forecast period. The isotopic application segment forms the base of the market estimation as it is purely based on the installed base of the machines and number of procedures performed per year for medical imaging in the region.
Geographically, the MEA technetium-99m market has been segmented into 21 countries with Turkey leading the market in 2015 followed by Egypt and Saudi Arabia. The applications of technetium-99m are rapidly growing in Turkey due to increasing direct and indirect investments by the U.A.E Government and other private companies. Increasing investments and penetration by key market players in MEA are likely to drive the technetium-99m market during the forecast period.
General Electric Company, Sumitomo Heavy Industries, Ltd., Siemens Healthineers, Advanced Cyclotron Systems, Inc., and IBA are the key players operating in the MEA technetium-99m market.
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