Technetium-99m Market is expected to reach US$ 6.03 Billion by 2031

Global Technetium-99m Market Forecast to 2031: Key Insights

According to our latest study on "Global Technetium-99m Market – Global and Regional Share, Trend, and Growth Opportunity Analysis – by Application, End User, and Geography," the market was valued at US$ 4.54 billion in 2024 and is expected to reach US$ 6.03 billion by 2031. The Technetium-99m market size is estimated to register a CAGR of 4.2% during 2025–2031. Hybrid imaging modalities and improved detector technology act as a Technetium-99m market trend.

The market for Technetium-99m (Tc-99m) is distinctly moving toward hybrid imaging platforms, specifically SPECT/CT imaging systems. By performing functional imaging and anatomical imaging in a single study, these products enable clinicians to have greater diagnosis confidence due to the enhanced diagnostic specificity and detail produced in a single scan, thus reducing the number of procedures needed to arrive at a diagnosis.

Technetium-99m Market

Recent advancements in imaging detectors, particularly cadmium-zinc-telluride (CZT) detectors, markedly improve the Tc-99m imaging experience. CZT detectors provide improved spatial resolution, image clarity, and increased sensitivity, ultimately improving scan times and decreasing the patient's exposure to radiation. This improvement makes Tc-99m imaging faster, safer, and more efficient for patients and healthcare professionals.

Hospitals and diagnostic centers are embracing hybrid systems as a way to provide faster, more accurate diagnoses and to offer improved clinical decision-making. Innovations in technology are supporting the reduction of operational and maintenance overheads, while also enhancing workflow efficiency within nuclear medicine departments. With rising demand driven by aging populations and increasing rates of chronic illness, the adoption of hybrid imaging is expected to increase worldwide. While markets are growing fastest in developed regions, emerging markets are also ramping up investments in new imaging innovations, which will support long-term growth in the Tc-99m market.

The relationships between manufacturers, research institutions, and the healthcare delivery system are also enabling next-generation imaging solutions to be developed. These relationships purposefully try to improve interoperability between various diagnostic systems, automate imaging workflows, and expand the clinical applications of Tc-99m general-purpose diagnostics, keeping the technology relevant and continuously improving patient care.

Advancements in SPECT technology Drives Global Technetium-99m Market Growth

While modernizing the available SPECT imaging technology does contribute to the growth of the Tc-99m market by improving diagnosis and adding clinical options, new technology also increasingly uses hybrid systems (SPECT with CT or MRI) to improve diagnostic accuracy by providing greater anatomic detail of abnormalities in the body (e.g., lungs, heart, tumors) of the anatomical area of interest. These hybrid systems that combine molecular/anatomic modalities are valuable in cardiology, oncology, and bone imaging, where a combination of functional (e.g., perfusion, receptor mapping) and structural data (e.g., anatomical detail) may improve clinical decision making and patient outcomes.

Advancements in gamma camera technology have also improved the technology, but have primarily been in the form of moving away from large photomultiplier tubes to compact, high-performance semiconductors of cadmium-zinc-telluride (CZT). The CZT detector utilizes less space, has better sensitivity, spatial resolution, and energy resolution, shorter scan times, lower doses to patients, improved patient experience, and adds nuclear imaging capabilities to mobile and point of care uses. There are even dedicated SPECT cameras for cardiac and oncology imaging, and improved efficiencies ultimately result in greater usage of Tc-99m radiopharmaceuticals.

Improved software tools and advancements in iterative reconstruction techniques have further improved image quality and quantitative accuracy, which allow for greater confidence in making clinical and therapeutic decisions. Continuous innovation in SPECT technology is keeping pace with clinical practice guidelines, which invariably recommend SPECT, despite having less sensitive imaging modalities, such as fluorodeoxyglucose PET (FDG-PET), thus preserving the role of Tc-99m in diagnostic imaging. The advances in brain neuroimaging, such as PSMA and Fibroblast Activation Protein (FAP), illustrate increased development in tracers intended to leverage specific markers for use in diagnostics, especially in oncology/neurology. Although other good quality radiopharmaceuticals are being developed, the global diagnostics market continues to be dominated by Tc-99m, due largely to the robust Mo-99/Tc-99m generator infrastructure in methodology. There continues to be a combination of advances in technology and radiopharmaceuticals, along with evolving molecular targets that will contribute to the Technetium-99m market growth.

Global Technetium-99m Market: Segmental Overview

By application, the market is segmented into cardiovascular, bone scan, respiratory, tumor imaging, and others. The bone scan segment held the largest Technetium-99m market share in 2024. Based on end user, the Technetium-99m market is divided into hospitals, diagnostic and imaging centers, and others. The hospitals segment dominated the Technetium-99m market share in 2024.

Technetium-99m is widely used in bone scans due to its excellent imaging properties and high affinity for active bone tissue. When paired with radiopharmaceuticals such as Tc-99m MDP, it enables early detection of fractures, infections, metastatic lesions, and other skeletal abnormalities long before they appear on X-rays. Its short half-life and low radiation dose make it safe and patient-friendly, while providing high-quality images with strong diagnostic accuracy. Tc-99m bone scans are essential in oncology, orthopedics, and rheumatology, helping clinicians evaluate bone pain, monitor disease progression, and guide treatment decisions. Their sensitivity and whole-body imaging capability make them a critical tool in modern nuclear medicine.

Technetium-99m plays a crucial role in cardiovascular imaging, particularly in myocardial perfusion scans used to assess blood flow to the heart muscle. Tc-99m-based tracers provide high-quality images with excellent resolution, allowing early detection of coronary artery disease, ischemia, and prior myocardial infarctions. Its favourable half-life and low radiation dose improve patient safety while enabling efficient imaging workflows. Tc-99m cardiovascular studies help physicians evaluate heart function, guide treatment planning, and monitor therapeutic outcomes. The ability to visualize perfusion under both stress and rest conditions makes Tc-99m an essential tool for diagnosing cardiac disorders and preventing serious cardiac events.

Global Technetium-99m Market Analysis: Competitive Landscape and Key Developments

The global Technetium-99m market report highlights the factors driving market expansion and the key developments of prominent players. Lantheus Holdings Inc; Curium; Jubilant Radiopharma; NorthStar Medical Radioisotopes, LLC; Sun RadioPharma (Sun Pharmaceutical Industries, Inc.); NTP Radioisotopes SOC Ltd; Cardinal Health Inc; Medi-Radiopharma; Eckert & Ziegler AG; and Isotope JSC are among the prominent players profiled in the global Technetium-99m market report. Market players focus on new product launches, expansion, diversification, and acquisition strategies, which enable them to capitalize on prevailing business opportunities.

In September 2022, BWX Technologies, Inc. (NYSE: BWXT) announced that its subsidiary, BWXT Medical Ltd., submitted a new drug application to the U.S. Food and Drug Administration (FDA) seeking approval for its technetium-99m (Tc-99m) generator for diagnostic imaging. Once approved, BWXT Medical’s proprietary manufacturing process will irradiate molybdenum targets at an Ontario Power Generation reactor, process the resulting Mo-99 (the parent isotope of Tc-99m), and incorporate it into Tc-99m generators at its Kanata, Ontario facility. These generators will then be delivered to radiopharmacies and hospitals across the U.S. and Canada, supporting vital medical imaging services.

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