MEA TECHNETIUM 99M MARKET ANALYSIS

MEA Technetium 99m MarketSize and Trends

MEA Technetium 99m Market is estimated to be valued at US$ 536.9 million in 2023 and is expected to exhibit a CAGR of 8.4% during the forecast period (2023-2030).

Figure 1. MEA Technetium 99m Market Share (%), by Isotopic Application, 2023

Figure 2. MEA Technetium 99m Market Value (US$ Mn) & Y-o-Y Growth (%), 2018-2030

MEA Technetium 99m Market- Drivers

Expansion Of Nuclear Medicine Facilities And Advancements In Diagnostic Imaging

Increasing demand for Technetium 99m due to the expansion of nuclear medicine facilities and advancements in diagnostic imaging is expected to drive the MEA Technetium 99m Market growth by 2030. For instance, in 2019, Hamad Medical Corporation (HMC), the principal public healthcare provider in the State of Qatar, announced the opening of a radiopharmaceutical lab in Qatar. The new laboratory, located at HMC’s National Center for Cancer Care and Research (NCCCR), will provide cancer patients with diagnostic and therapeutic care locally, saving these patients the need to travel abroad for this type of care.

MEA Technetium 99m Market: Key Trends

Increasing facility expansion by the research centers

Increasing research and development activities is expected to drive the market growth over the forecast period. For instance, in 2020, Saudi Arabia's King Faisal Specialist Hospital & Research Centre (KFSH&RC) collaborated with a South Korean company to establish a radiopharmaceutical production facility in the country. The facility aimed to produce Technetium 99m locally and reduce dependence on imports.