Technetium-99m Market to Reach USD 6.54 Billion by 2030, Growing at 4.05% CAGR Driven by Nuclear Medicine Imaging Demand

According to a new report, the Technetium-99m Market was valued at USD 4.95 billion in 2023 and is projected to reach nearly USD 6.54 billion by 2030, expanding at a CAGR of 4.05% from 2024 to 2030. The market is driven by the growing demand for nuclear medicine imaging, particularly for cardiovascular and cancer diagnostics, supported by advancements in radiopharmaceutical development.

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Key Highlights

Market Size: USD 4.95 Bn (2023) → USD 6.54 Bn (2030) at 4.05% CAGR
Leading Application: Cardiovascular imaging dominates market share
Largest Region: North America leads, with over 40,000 Tc-99m-based procedures daily in the U.S.
Key Drivers: Increasing nuclear medicine procedures, rising chronic disease prevalence, new Tc-99m radiopharmaceutical innovations
Top Companies: Siemens Healthineers, GE Healthcare, Medi-Radiopharma, Lantheus Holdings, NorthStar Medical Radioisotopes

Market Outlook

Technetium-99m (Tc-99m) is the most widely used radioisotope in nuclear medicine, applied in approximately 85% of diagnostic imaging procedures worldwide. With its short six-hour half-life and optimal gamma energy, it is considered the gold standard for imaging organs such as the heart, brain, lungs, and bones. Advances in Tc-99m-based radiopharmaceuticals, particularly for cardiovascular and oncology applications, are expected to drive market expansion.

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Regional Insights

North America dominates the global Tc-99m market due to advanced healthcare infrastructure, high prevalence of cardiovascular diseases, and strong adoption of imaging technologies. The U.S. conducts over 20 million nuclear medicine procedures annually, with Tc-99m used in more than 80% of cases.
Asia Pacific presents high growth potential, led by China's expanding healthcare infrastructure and rising demand for affordable SPECT imaging solutions.
Europe maintains steady demand with approximately 10 million nuclear medicine procedures annually, influenced by both diagnostic and therapeutic applications.

Key Players

The market is moderately consolidated, with both multinational and specialized players competing globally. Major participants include:

Siemens Healthineers
GE Healthcare
Lantheus Holdings, Inc.
NorthStar Medical Radioisotopes, LLC
Medi-Radiopharma
BWXT Medical
IBA

Collaborations such as the IBA-NorthStar partnership (2021) and BWXT Medical's milestone with Laurentis Energy Partners (2023) highlight ongoing efforts to secure stable Tc-99m supply chains and expand global availability.

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Analyst Quote

"Technetium-99m continues to be the backbone of nuclear medicine imaging, with strong demand in cardiology and oncology diagnostics. As emerging markets adopt SPECT imaging at scale and supply chain innovations reduce shortages, the Tc-99m market is positioned for steady and sustainable growth," said a senior analyst from the research team.

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