Global Technetium Market Outlook to 2026

Technetium is a silvery-gray transition metal that tarnishes slowly in moist air. It dissolves in nitric acid, aqua regia (nitro-hydrochloric acid), and concentrated sulfuric acid though it is not soluble in any strength of hydrochloric acid. It is the first element to be produced artificially and is the lightest element whose isotopes are all radioactive. Even a small trace of the metal can act as an excellent corrosion inhibitor in steel, with radioactivity being the only concern. Thus, the chemical properties and radioactivity play a big role in technetium's industrial and medical applications.

According to BlueQuark Research & Consulting, the global technetium market is expected to witness growth at a considerable rate during the forecast period. The major factors responsible for the global technetium market's growth would be the increasing demand for nuclear medicines and extended employment of myocardial perfusion imaging in detecting rapidly spreading coronary heart diseases. The invention of PET and SPECT scans have revolutionized global medical diagnostic studies. Technetium-99 based imaging techniques are predominantly used to completely understand the human body and detect bone metastases and extended bone diseases, including inflammation. Various other chemical forms of this metal take part in imaging different body parts such as lungs, kidneys, brain, and thyroid. Despite having important radiopharmaceutical and radiotherapeutic applications, technetium’s radioactivity causes production, storage, and transportation issues. Technetium-99m’s supply is unstable, and the market is highly dependent on a small number of organizations handling this metal. Thus, stringent government policies, along with technetium’s logistical and toxicological problems, restrain the global technetium market.

Boasting high development, North America has been the largest market for global technetium due to the demand for advanced medical facilities here. The growth here is, however, expected to be much slower when compared to the Asia-Pacific region. Substantial investments towards the healthcare sector, skyrocketing improvements in living standards, and population-driven urge for better medical facilities make Asia-Pacific a highly potential market during the forecast period.

The global technetium market is highly consolidated. Major players in the market were found to be GE Healthcare, Lantheus Medical Imaging, Curium Pharma, Mallinckrodt, and Siemens Healthineers, among few others.

NorthStar Medical Technologies, a global innovator in the production and distribution of radioisotopes used for medical imaging, announced on March 3, 2020, that it has entered into a worldwide, exclusive licensing agreement with Capella Imaging, a BioGenerator company, to develop a fibrin-targeted diagnostic imaging agent, FibroScint (Tc-99m F4A), for cardiac imaging. If successfully developed and approved, it may have potential applications across multiple cardiovascular conditions such as thrombus (blood clots) associated with left ventricular assist devices (LVADs), deep vein thrombosis, pulmonary embolism, and acute coronary syndrome.

Thousands of cancer screenings and other crucial procedures were expected to have been canceled on 21st October 2020, after a fresh incident at Lucas Heights, Australia’s only nuclear medical facility. A fault at the nuclear medical facility over the weekend caused the short-term shortage of molybdenum-99, a commonly used isotope in nuclear medicine, whose supply is vital as a raw material for technetium-99m production, which in turn is used in imaging techniques and radiotherapies.

Global Technetium Market report provides deep insights into the current and future state of the technetium market across various regions. The study comprehensively analyzes the technetium market by segmenting based on type (Metal Powder, Metal Crystal), production (Nuclear Fission Product, Neutron Activation, Particle Accelerator), application (Nuclear Medicine and Biology, Industrial and Chemical, and Others), and geography (North America, Europe, Asia-Pacific, South America, and Middle-East and Africa). The report examines the market drivers and restraints, along with the impact of Covid-19 on the market’s growth, in detail. The study covers & includes emerging market trends, developments, opportunities, and challenges in the industry. This report also covers extensively researched competitive landscape sections with profiles of major companies, including their market shares and projects.