Molybdenum-99 (Mo-99) Market Size to Reach USD 6 Billion by 2030, Says The Brainy Insights

The molybdenum-99 market participants will receive significant financial incentives because to rising investments in production infrastructure and new approvals of 99Mo and products generated from it. High demand in the U.S. and advantageous healthcare reimbursement policies in North American nation support the region's market growth.


Newark, Feb. 16, 2023 (GLOBE NEWSWIRE) -- The Molybdenum-99 (Mo-99) market was estimated at around 2.6 billion in 2021, growing at a CAGR of nearly 4.6% during 2022-2030. The market is projected to reach approximately USD 6 billion by 2030.

An artificially produced radioactive isotope called molybdenum-99 is manufactured from either highly or minimally enriched uranium. The radioisotope technetium-99, which is the most frequently utilised in medical imaging, is created through further decay. In all nuclear medicine procedures, technetium-99m accounts for more than 80% of the dose used for medical diagnostic imaging. Even if there is currently enough molybdenum-99 and technetium-99m to meet demand on a domestic and international level, any changes to the supply chain before the year is through could result in severe shortages that would directly affect medical services. Seven research reactors in Europe, Canada, Australia, and South Africa provide about 95% of the world's molybdenum-99 supply, although this situation is anticipated to alter during the next few years.

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Growth Factors

Nuclear medicine imaging techniques are used by doctors all around the world to visualise the structure and operation of a tissue, organ, bone, or system within the body. It is very essential that the healthcare sector develops improved technology to aid in the early and precise detection of life-threatening diseases in these unprecedented times. Many diseases go undiagnosed in the beginning and turn out to be lethal when discovered later. For instance, ME/CFS is a complex multisystem disease that affects between 0.2% and 0.4% of the population. In other words, the condition affects up to 2 to 4 per 1,000 persons and nearly 250,000 people in the UK. The accurate diagnosis was delayed for a number of patients in the UK. Only 18% of ME patients in 2016 received a diagnosis within six months of the onset of symptoms, according to the ME Association Survey. 62% of the individuals had to wait an additional year or longer to receive their diagnosis.

Segmental Overview

By application, hospitals will become a more desirable market than diagnostic centres in South Asia as well. The demand from nations like India, Thailand, Indonesia, and Malaysia would help the regional industry grow. To picture the human body for diagnostic and therapeutic reasons, medical imaging uses a variety of imaging modalities and advanced processing techniques. It contributes significantly to improving public health for all population groups. Medical imaging is also utilised for disease detection and diagnosis. One of the most frequently used radioisotopes in nuclear medicine, technetium-99m (6.02 h), is utilised in more than 80% of diagnostic nuclear medicine procedures, or 7 million annually in Europe and roughly 8 million annually in the United States. The International Atomic Energy Agency (IAEA) estimates that 99mTc is used in about 30 million operations annually throughout the world and accounts for 80-85% of all diagnostic nuclear medicine investigations.

Regional Overview

Molybdenum-99 has found a thriving market in Asia Pacific. The market will benefit from the region's increasing healthcare development investments and bolstered R&D endeavours. The region is growing as a result of the increasing penetration of innovative healthcare technologies. However, in certain underdeveloped areas, a shortage of qualified staff and subpar medical facilities have been impeding progress. In nations like India, there is an increase in the usage of private healthcare. In reality, research show that this industry has grown significantly since 2000. Additionally, insurance assistance provided by various public and private providers has helped patients and their families and encouraged them to invest in cutting-edge medical care. These factors are projected to increase demand for molybdenum-99 in the Asia Pacific region. Hospital demand will be a significant factor in East Asia's growth, and Japan will become a very lucrative market.

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Report Scope

Base Year2021
Forecast period2022-2030
Report Coverage      Revenue estimation and forecast, company profile, competitive landscape, growth factors, and recent trends
Regional scopeNorth America, Europe, Asia Pacific, Middle East & Africa, and Latin America
Market Size(unit)USD Billion
Molybdenum-99 (Mo-99) Market CAGR4.6%
Segments CoveredBy Type
By Application

List of the prominent players in the Global Molybdenum-99 (Mo-99) market:

• Curium Company
• Eckert & Ziegler Holding Company
• Shine Medical Technologies
• NTP Radioisotopes SOC Ltd.
• North Star Medical Radioisotopes LLC
• JSC Isotope
• ANSTO
• Lantheus Medical Imaging Inc.
• IRE ELIT
• Niowave Inc.

The global Molybdenum-99 (Mo-99) market is segmented as follows:

By Type

• SPECT
• Gamma Camera

By Application

• Hospitals
• Diagnostic Centers

By Region/Geography

• North America

o The U.S.
o Canada
o Mexico

• Europe

o France
o The UK
o Spain
o Germany
o Italy
o Rest of Europe

• Asia Pacific

o China
o Japan
o India
o Australia
o South Korea
o Rest of Asia Pacific

• The Middle East & Africa

o Saudi Arabia
o UAE
o South Africa
o Egypt
o Kuwait
o Rest of the Middle East & Africa

• Latin America

o Brazil
o Argentina
o Rest of Latin America

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About the report:

The market is analyzed based on value (USD Billion). All the segments have been analyzed worldwide, regional, and country basis. The study includes the analysis of more than 30 countries for each part. The report analyzes driving factors, opportunities, restraints, and challenges for gaining critical insight into the market. The study includes porter's five forces model, attractiveness analysis, product analysis, supply, and demand analysis, competitor position grid analysis, distribution, and marketing channels analysis.

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