Technetium-99m finds application in diagnostic imaging procedures in nuclear medicine as radioactive tracer. It has a short half-life of six hours and does not remain in the body or the environment for long. Single photon emission computed tomography (SPECT) is used with Tc-99m predominantly in bone and brain scans.
MEA technetium-99m market is estimated to account for US$ 394.6 Mn in terms of value and is expected to reach US$ 688.5 Mn by the end of 2027.
MEA Technetium-99m Market: Drivers
Increasing adoption of radio isotopes in drug delivery is expected to propel growth of MEA technetium-99m market over the forecast period. For instance, in February 2020, Innovation Pharma announced that the Phase 1 trial that assessed the use of delayed-release tablets of Brilacidin met its primary endpoints. The timed-release OralogiK formulation of Brilacidin was radiolabeled with complexed technetium-99m in the study.
MEA Technetium-99m Market: Opportunities
R&D in technetium-99m is expected to offer lucrative growth opportunities for players in MEA technetium-99m market. For instance, in January 2020, researchers from Seoul National University College of Medicine, South Korea, reported development of 99mTc-tricabonyl labeled urea-based prostate-specific membrane antigen conjugates containing isonitrile-coordinating ligands.
MEA Technetium-99m Market: Restraints
Use of Tc-99m in diagnostic imaging increases the risk of radiation exposure to technicians, patients, and passers-by. Moreover, the risk is higher in children and young adults. Such side effects are expected to hinder growth of the market.
MEA technetium-99m market was valued at US$ 394.6 Mn in 2019 and is forecast to reach a value of US$ 688.5 Mn by 2027 at a CAGR of 8.3% between 2020 and 2027. Major factor driving the growth of MEA technetium-99m market during the forecast period increasing prevalence of cancer, and technological advancement in imaging techniques.
Gamma Camera held dominant position in MEA technetium-99m market in 2019, accounting for 57.3% share in terms of volume, followed by SPECT, respectively. Gamma camera are widely used imaging instruments and increasing use of the same is expected to support growth of the market.
Technetium-99m can also be used in the diagnosis of hyperlipidemia-related diseases. For instance, in June 2019, researchers from Kyoto University, Japan, reported that [99mTc]Tc- boron dipyrromethene may have potential as an imaging probe for detecting lipid droplets in disease lesions of hyperlipidemia.
Major players in the market are focused on adopting various marketing strategies to enhance their market share. For instance, in June 2019, NorthStar Medical Radioisotopes, LLC presented domestic Mo-99 production, expansion plans and use of the RadioGenix System (technetium 99m generator) at the Society of Nuclear Medicine and Molecular Imaging Annual Meeting.
The manufacturing process for radiopharmaceutical preparations should meet the requirements of Good Manufacturing Practice (GMP). The individual country GMP guidelines are largely derived from the international GMP guidelines such as those from the World Health Organization (WHO) or International Conference on Harmonization (ICH).
MEA Technetium-99m Market: Competitive Landscape
Major players operating in MEA technetium-99m market include, GE Healthcare, IBA, Sumitomo Corporation, Advanced Cyclotron Systems, Inc., NorthStar Medical Radioisotopes, and Siemens Healthineers.
MEA Technetium-99m Market: Key Developments
March 2019: IBA Industrial, a part of Ion Beam Applications S.A, announced that the company has received orders for two Rhodotron TT300 HE electron beam accelerators from NorthStar Medical Radioisotopes
June 2018: Advanced Cyclotron Systems, Inc. attended the Annual Meeting of the Society of Nuclear Medicine and Molecular Imaging, held in Pennsylvania, U.S
Joining thousands of companies around the world committed to making the Excellent Business Solutions.