0 items USD 0.00The U.S. is Leading the Molybdenum-99 (Mo-99) Consumption Globally
A medical isotope is a medically safe radioactive substance used to assist in diagnosing and treating diseases such as critical heart conditions and cancer. According to the latest findings,听there are more than 50 million patients in North America and around the world are benefiting every year from these treatments. The most critical medical isotope is technetium-99m (Tc-99m), derived from molybdenum-99 (Mo-99), used in more than 80 percent of all nuclear medicine procedures.
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Molybdenum-99 (Mo-99) is an artificial radioactive isotope that is produced through the neutron bombardment (an atom is bombarded by a neutron to produce an unstable isotope) of enriched uranium-235 /U-235 (3 to 5%). When a low-enriched uranium (lower than 20% concentration) or a highly enriched uranium (HEU) target is inserted into the core of the reactor, the Uranium is bombarded with neutrons emitted from the reactor core. The result of neutron bombardment splits some of the heavy U-235 atoms 鈥� a process known as fission 鈥� into several smaller atoms called fission fragments or products. About 400 different isotopes are formed in this process, including the radioactive isotopes Mo-99 and I-131.
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After being irradiated for several hours, the targets are removed from the reactor core and later dissolved, and commercially valuable isotopes like Mo-99 and iodine-131 are separated and extracted from the solution and purified to medical grade. As soon as the Mo-99 has been purified and processed, it is tested for quality and measured for radioactivity (this is expressed in units called Curies, which show ionizing radiation). The Mo-99 is then dispensed by volume in the form of a sodium molybdate solution. This solution is the feedstock used in technetium-99m generators.
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Mo-99 has a relatively short half-life of just 66 hours. This means the number of radioactive atoms in Mo-99 decreases by half every 66 hours or 20% each day. Because of this, Mo-99 cannot be stored, and reliable production and on-time delivery are critical to meet clinical demands.
Molybdenum-99 (Mo-99) Market Forecast
In 2020, the Global Molybdenum-99 (Mo-99) market size was USD 468.11 million and it is expected to reach USD 705.78 million by the end of 2027, with a CAGR of 5.23% from 2021-to 2027. In China, the Molybdenum-99 (Mo-99) market size is expected to grow from USD 34.79 million in 2020 to USD 96.83 million by 2027, at a CAGR of 14.36% during the forecast period.
In 2020, Produced by LEU accounted for a share of 67.27% in the global Molybdenum-99 (Mo-99) market. And this product segment is poised to reach USD 647.27 million by 2027 from USD 314.9 million in 2020.
Geographically, the Americas is the largest consumer by region with a 50.39% market share in 2021. Europe is the second largest with a 22.96% market share. APAC is the fastest-growing region, especially in China, which plays a more important role in the world.
While the U.S. produces a significant number of Molybdenum-99 (Mo-99) used by researchers, industry, and the medical community, the U.S. is dependent upon foreign sources for many. The US consumes about half of the world's supply of Molybdenum-99 (Mo-99), but the US has not produced this isotope since the late 1980s, the United States imports Mo-99 from Australia, Canada, Europe, and South Africa for domestic use.
An international consensus has been reached to reduce the use of highly enriched uranium. The United States has promoted the conversion of high-enriched uranium to low-enriched uranium in civil nuclear facilities such as research reactors and the production of medical radioisotopes. Through the research and test reactor reduction enrichment program initiated by the US Department of Energy in 1978, fuel from more than 40 research reactors has been successfully converted from highly enriched uranium to low enriched uranium. The United States has also made a political decision to exclude Mo-99 based on highly enriched uranium from the US market starting in 2017. The announcement of this decision aroused a reaction from major Mo-99 producers.
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Developing countries such as China and India are becoming more and more important and the potential market in these countries is huge due to a large amount of Infrastructure. Investors should pay more attention to these countries.
Leading Molybdenum-99 (Mo-99) Producers
The global key Molybdenum-99 (Mo-99) manufacturers are
- NRG:听The company is a part of the NRG Foundation. NRG is the global market leader in producing nuclear isotopes (medical isotopes). Every day, more than 30,000 patients worldwide depend on their medical substances for the treatment
- NTP Radioisotopes:听NTP is a state-owned public company, and is a subsidiary of the South African Nuclear Energy Corporation (Necsa). Along with its global partners, NTP Radioisotopes supplies up to a third of the world鈥檚 supply of lifesaving medical radioisotope Molybdenum-99.
- ANSTO:听The company听is run by the Australian Government and is funded by taxpayers.听The Mo-99 Manufacturing Facility ensures the long-term sustainability of Mo-99 supply in Australia and positions Australia to supply bulk Mo-99 globally.
- Nordion (Canada) Inc.:听Nordion provides market-leading products used for the prevention, diagnosis, and treatment of disease. We are a leading provider of medical isotopes and gamma technologies.
- IRE:听The Institute for radioelements (IRE) is听one of the leaders in the production of Molybdenum-99 (Mo-99), the most widely used radio-isotope in nuclear medicine for diagnosis.
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About The Author
Sudeep Chakravarty
