Europe to Offer Lucrative Opportunities to the Emerging Players in the Molybdenum 99

Tue, 04 August 2020 12:24

Molybdenum 99 is extracted from highly enriched uranium or low enriched uranium, which is further decayed into Technetium 99. Technetium 99 is extremely useful for medicinal imaging as it emits only gamma rays and can be encapsulated into many different molecules that target various types of tissue in the body. In the current scenario, it is made in nuclear reactors by creating a radioactive isotope of molybdenum, and further decaying it into technetium 99m. The 60-year-old NRU reactor based in Canada is the largest supplier of medicinal isotopes for North America, and the reactor has experienced two extended and unscheduled shutdowns in the past ten years.

Recently, scientists in Canada came up with the medical isotope technetium 99m, which was extracted using medical cyclotrons. This material is made only in a few aging nuclear reactors globally. Cyclotron-based production is pretty compatible, and many medical physicists see it as the future of medical isotopes. It is anticipated that technetium-99m procedures will be replaced by positron-emission tomography, which also uses isotopes made in cyclotrons.

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Increasing Demand for Nuclear Medicines  to Drive Europe’s Market Growth

Nuclear medicine is progressing well in Europe, and the increasing demand for nuclear medicines is expected to provide a fillip to the molybdenum 99 market growth. Molybdenum 99 is extensively used in the medical imaging industry. During the past ten years, the emerging field of hybrid imaging has contributed immensely to the escalated impact of nuclear medicine on patient management. In 2019, as many as 44.8 million imaging tests were reported in England, compared to 42.7 million in the previous year, showcasing an increase of 4.8%.

Plain radiography (X-Ray) was amongst the most commonly used with almost 23.5 million procedures, followed by diagnostic ultrasonography with 10.2 million. Computerized axial tomography recorded 5.67 million proceedings, and magnetic resonance imaging had 3.74 million proceedings. In Europe, Molybdenum 99 is produced using high enriched uranium.

 Key Players

  • 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.

Molybdenum 99 Market: Segmentation

By Product Type

  • Production by Highly Enriched Uranium
  • Production by Non-Highly Enriched Uranium

By Industry

  • Medical
  • Scientific Research

By Sales Channel

  • Direct Channel
  • Distribution Channel

Molybdenum 99 Market: Regions Covered

North America

  • The U.S.
  • Canada
  • Mexico

Europe

  • Germany
  • France
  • Italy
  • The U.K.
  • Spain
  • Russia
  • Poland
  • The Rest of Europe

Asia-Pacific

  • China
  • India
  • Japan
  • South Korea
  • Australia
  • Vietnam
  • Indonesia
  • Malaysia
  • Singapore
  • The Rest of APAC

Central and South America and the Caribbean

  • Brazil
  • Argentina
  • Colombia
  • The Rest of Central and South America and the Caribbean

The Middle East and Africa

  • Saudi Arabia
  • The UAE
  • Iran
  • Kuwait
  • Tanzania
  • South Africa
  • The Rest of MEA

" Crucial Insights The Report Provides:"

* Known and Unknown Adjacencies Influencing the Growth of Market

* Explorable Revenue Sources

* Customer Behaviour Analysis

* Target Partners

* Customized Geographical Data Based on Customers as well as Competitors

* Analysis of Market Size and CAGR between the Forecast Periods

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