The opportunity in
the Middle East and Africa technetium-99m market was pegged at
US$273.3 mn in 2015 and is projected to be worth US$636.1 mn by 2026,
expanding at a CAGR of 8.1% therein.
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“The prevalence of
non-communicable and chronic diseases, such as cancer and cardiac
disorders, is much higher in the developing economies of MEA than
communicable diseases and this is mainly attributed to the rise in
life expectancy, changes in lifestyle, and the growing percentage of
geriatrics,” the author of the study notes. These factors have
resulted in the increased demand for diagnostic equipment and imaging
procedures, thereby driving the demand for technetium-99m. In
addition, the advancement in imaging technologies, such as SPECT/CT,
are fueling the demand for technetium-99m in various
radiopharmaceutical applications.
TMR notes that the
frequency of planned or unplanned reactor outages has been limiting
the production of Mo-99, which restricts the growth of the
technetium-99m market in MEA. Other factors acting as deterrents
include the rising adoption of alternative imaging modalities and the
shortage of technicians, radiologists, and medical professionals in
the MEA.
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On the bright side,
the rising adoption of dual modality imaging techniques and hybrid
imaging is projected to drive the use of technetium-99m in the Middle
East. “Diagnostic imaging procedures are likely to be
revolutionized by the use of multimodality imaging techniques because
of their applicability in the development of personalized treatment
plans,” the lead analyst predicts. This will lead to the growing
adoption of technetium-99m.
Several countries
around the world have begun focusing on non-reactor-based production
of Mo-99 without the use of highly enriched uranium and this method
holds immense promise for the technetium-99m market in MEA.
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By isotopic
application, gamma cameras held the leading share in the
technetium-99m market in MEA, creating an incremental opportunity of
US$164.7 mn over the course of the forecast period. The SPECT
segment, on the other hand, is projected to register a 9.0% CAGR from
2016 to 2026, higher than any other application segment. While
hospitals formed the leading end-user segment of the technetium-99m
market, diagnostic centers are currently the most attractive segment
in terms of CAGR. Geographically, Turkey formed the leading regional
segment in 2015 and is projected to value US$151.1 mn by 2024,
expanding at a 9.6% CAGR from 2016 to 2026.
Some of the leading
companies operating in the Middle East and Africa technetium-99m
market are General Electric Company, Sumitomo Heavy Industries, Ltd.,
Siemens Healthineers, Advanced Cyclotron Systems, Inc., and IBA.
Transparency Market Research finds that most companies in this avenue
are focused on presenting a diverse and technologically advanced
product portfolio to maintain a strong foothold in the technetium-99m
market. Establishing a strong distribution channel and making the
most of their innovation capabilities also form a part of the
players’ competitive strategy.
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