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Molybdenum 99 (Mo 99) Market

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  3. Molybdenum-99 (Mo-99) Market

Molybdenum-99 (Mo-99) Market Size, Share, Growth, and Industry Analysis, By Types (Produced by HEU, Produced by LEU) , Applications (Medical, Santific Research, Others) and Regional Insights and Forecast to 2033

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Last Updated: May 26 , 2025
Base Year: 2024
Historical Data: 2020-2023
No of Pages: 105
SKU ID: 22365220
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  • Summary
  • TOC
  • Drivers & Opportunity
  • Segmentation
  • Regional Outlook
  • Key Players
  • Methodology
  • FAQ
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Molybdenum-99 (Mo-99) Market Size

The global Molybdenum-99 (Mo-99) Market Size was valued at USD 656.58 million in 2024 and is projected to reach USD 712 million in 2025, further expanding to USD 1,361.44 million by 2033. With a CAGR of 8.44%, market growth is fueled by increasing demand for medical imaging applications and advancements in nuclear medicine.

The US Mo-99 Market Size is growing due to rising healthcare infrastructure, government initiatives for domestic production, and increasing reliance on radioisotopes in diagnostic procedures.

Molybdenum-99 (Mo-99) Market

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The Molybdenum-99 (Mo-99) market plays a critical role in nuclear medicine, primarily as a parent isotope for Technetium-99m (Tc-99m), which is used in over 80% of all diagnostic imaging procedures. With the growing prevalence of cancer and cardiovascular diseases, the demand for Mo-99 has surged, accounting for nearly 85% of total nuclear medicine procedures.

The global supply chain is experiencing significant shifts, with over 70% of Mo-99 production still dependent on highly enriched uranium (HEU) sources, leading to increasing regulatory scrutiny. Meanwhile, efforts to transition to low-enriched uranium (LEU)-based production are gaining momentum, with 60% of new reactors adopting LEU technology.

Molybdenum-99 (Mo-99) Market Trends

The Molybdenum-99 (Mo-99) market is undergoing rapid transformation driven by technological advancements and regulatory changes. A key trend is the shift toward LEU-based Mo-99 production, with adoption rising by 50% over the last decade. This shift is expected to further accelerate, as nearly 90% of nuclear medicine facilities aim to reduce dependence on HEU.

Another major trend is the increasing adoption of cyclotron-based Tc-99m production, which has grown by 40% in recent years, reducing reliance on reactor-based Mo-99. The emergence of non-reactor Mo-99 production methods is disrupting the market, with some facilities achieving 30% Mo-99 yields through linear accelerators.

Additionally, the rising demand for single-photon emission computed tomography (SPECT) scans, which use Tc-99m, has increased by 20% annually. The aging population is a key driver, with over 65% of nuclear imaging patients aged 60 and above. Healthcare expenditure on nuclear medicine procedures has surged by 35%, driven by increased awareness and accessibility.

Supply chain constraints continue to impact market dynamics, with production outages causing Mo-99 price fluctuations of up to 25%. As demand grows, governments and private investors are injecting 45% more funding into isotope production infrastructure.

Molybdenum-99 (Mo-99) Market Dynamics

DRIVERS

"Increasing Demand for Diagnostic Imaging "

The demand for Molybdenum-99 (Mo-99) is directly tied to the rising need for diagnostic imaging procedures. Currently, over 85% of nuclear medicine scans rely on Tc-99m, derived from Mo-99. The global burden of chronic diseases is escalating, with cancer cases increasing by 70% over the past two decades, significantly boosting Mo-99 utilization. Additionally, cardiovascular diseases now account for nearly 40% of nuclear medicine scans. The expansion of nuclear medicine centers has grown by 50% worldwide, improving access to Mo-99-based diagnostics. Investments in radiopharmaceuticals have surged by 60%, further strengthening the Mo-99 supply chain.

RESTRAINTS

"Supply Chain Volatility and Reactor Shutdowns"

The Molybdenum-99 (Mo-99) market faces critical supply chain challenges, with aging reactors responsible for nearly 75% of global Mo-99 production. Unplanned reactor shutdowns have increased by 30% in the past five years, leading to severe supply disruptions. Regulatory restrictions on HEU-based production have affected 80% of suppliers, creating instability in availability. Transportation and handling challenges have further escalated costs, with logistics expenses rising by 20% due to stringent safety regulations. Additionally, price volatility remains a concern, with Mo-99 costs fluctuating by 25% during supply shortages. These factors collectively limit the market's ability to meet the growing demand.

OPPORTUNITY

"Expansion of Cyclotron-Based Mo-99 Production"

The push for sustainable Mo-99 production has led to the rapid growth of cyclotron-based and linear accelerator-based Mo-99 production methods, increasing their market share by 45%. This shift is supported by governments investing 50% more in non-reactor production technologies. Several research institutions are already producing Mo-99 without nuclear reactors, reducing dependency on traditional methods by 35%. Additionally, the expansion of radiopharmaceutical production facilities has grown by 40%, enabling localized Mo-99 supply chains. With Tc-99m-based scans increasing by 25% annually, the need for diversified Mo-99 sources is more critical than ever, opening new avenues for industry growth.

CHALLENGE

"High Production and Regulatory Compliance Costs"

The Molybdenum-99 (Mo-99) market faces mounting cost challenges, with production expenses rising by 30% due to stringent quality and safety regulations. Compliance with non-proliferation treaties has forced 90% of suppliers to shift from HEU to LEU, escalating operational costs by 50%. Waste disposal fees for Mo-99 reactors have increased by 35%, further straining budgets. Additionally, 25% of nuclear medicine centers report delays in isotope delivery due to regulatory approvals. These challenges, combined with rising maintenance costs for aging reactors (up by 40%), pose significant obstacles to market growth and long-term sustainability.

Segmentation Analysis

The Molybdenum-99 (Mo-99) market is segmented based on production type and application. In terms of production, Mo-99 is primarily derived from highly enriched uranium (HEU) or low enriched uranium (LEU). While HEU-based production still dominates with approximately 70% share, LEU-based Mo-99 is witnessing rapid adoption due to regulatory restrictions on HEU, growing at a rate of 50% over the last decade.

By application, the medical sector is the largest consumer, utilizing over 85% of Mo-99 for diagnostic imaging, primarily in single-photon emission computed tomography (SPECT) scans. Scientific research accounts for 10%, while other uses, including industrial applications, contribute to 5% of the market.

By Type

  • Produced by HEU: Mo-99 production from highly enriched uranium (HEU) remains the predominant method, accounting for nearly 70% of global supply. This method has been the traditional approach for decades due to its high yield and established infrastructure. However, regulatory restrictions on HEU-based production have increased, affecting 80% of the existing reactors. Several HEU-based production facilities have reported supply disruptions, impacting nearly 60% of medical imaging centers globally. Despite its efficiency, the reliance on HEU is declining, with HEU-based reactors projected to reduce their output by 40% as nations shift toward non-proliferation policies.
  • Produced by LEU: Low enriched uranium (LEU)-based Mo-99 production has gained momentum, now contributing approximately 30% to global supply. Governments worldwide have mandated a transition to LEU, with funding increasing by 50% for new LEU-based reactors. Over 60% of new Mo-99 production facilities are implementing LEU-based technologies, improving supply chain sustainability. Several research institutions have successfully produced Mo-99 without HEU, reducing dependency on traditional methods by 35%. With regulatory bodies pushing for HEU-free medical isotopes, LEU-based production is expected to dominate the market, with an anticipated 45% increase in adoption over the next decade.

By Application

  • Medical: The medical sector is the primary consumer of Mo-99, accounting for over 85% of global demand. Tc-99m, derived from Mo-99, is used in approximately 40 million diagnostic imaging procedures annually, with 65% of these scans targeting cardiovascular diseases and cancer detection. Hospitals and diagnostic centers are increasing their Mo-99 procurement by 30% due to rising cases of chronic diseases. The growth of positron emission tomography (PET) and SPECT imaging, which relies heavily on Mo-99, has surged by 25%. Additionally, investments in nuclear medicine infrastructure have grown by 50%, further driving demand.
  • Scientific Research: Mo-99 is widely used in scientific research, particularly in nuclear physics and radiopharmaceutical development, contributing approximately 10% of total Mo-99 usage. Research institutions worldwide have increased Mo-99 procurement by 35% to enhance studies on radiation therapy and targeted drug delivery. Nuclear reactors dedicated to isotope research have expanded by 20%, supporting innovation in medical imaging techniques. Additionally, over 60% of leading research universities are investing in Mo-99-based projects to improve diagnostic imaging efficiency. The use of Mo-99 in tracer studies has increased by 25%, indicating its growing relevance in scientific applications.
  • Others: Beyond medical and research applications, Mo-99 is used in industrial applications and nuclear testing, accounting for approximately 5% of total demand. The use of Mo-99 in industrial radiography has increased by 20%, improving non-destructive testing techniques for aerospace and manufacturing industries. Additionally, Mo-99-based isotopes are employed in radiation safety studies, with 30% of nuclear regulatory agencies integrating Mo-99 into radiation monitoring systems. The application of Mo-99 in oil and gas exploration has grown by 15%, supporting well-logging and geological analysis. These niche applications continue to contribute to the broader expansion of the Mo-99 market.
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Molybdenum-99 (Mo-99) Regional Outlook 

The global Mo-99 market is heavily concentrated in a few key regions, with North America and Europe dominating over 65% of the total supply. Asia-Pacific is emerging as a strong growth region, witnessing a 40% increase in nuclear medicine investments. Government funding for Mo-99 production has surged by 50% across multiple countries, supporting both HEU and LEU-based manufacturing. The Middle East & Africa contribute a smaller share but have seen an 80% rise in medical imaging demand. The growing number of nuclear reactors dedicated to isotope production, particularly in developing regions, is expected to boost Mo-99 availability globally.

North America 

North America is the leading region in the Molybdenum-99 (Mo-99) market, accounting for nearly 40% of total global supply. The U.S. dominates production, with 70% of Mo-99-based diagnostic procedures occurring in the region. The adoption of LEU-based Mo-99 has increased by 60%, supported by significant federal investments in non-HEU isotope production. Medical imaging centers have reported a 30% rise in Mo-99 demand due to increasing chronic disease cases. Additionally, nuclear medicine research facilities have expanded by 45%, enhancing Mo-99 production efficiency. The development of non-reactor-based Mo-99 methods has grown by 35%, ensuring long-term supply stability.

Europe 

Europe holds approximately 30% of the global Mo-99 market, with key producers in the Netherlands, Belgium, and Germany. Regulatory changes have led to a 50% reduction in HEU-based production, accelerating LEU adoption. The demand for Tc-99m-based scans has surged by 25%, driven by aging populations and increased cancer screening initiatives. Government funding for nuclear medicine research has grown by 40%, strengthening the region’s isotope supply chain. Additionally, investments in Mo-99 transport infrastructure have increased by 30%, improving distribution efficiency. The European nuclear medicine industry is shifting towards sustainable production, with LEU-based Mo-99 usage growing by 55%.

Asia-Pacific

Asia-Pacific is witnessing the fastest growth in the Molybdenum-99 (Mo-99) market, with demand increasing by 40% in the past decade. Countries like China, Japan, and India have expanded nuclear medicine capabilities, driving a 50% increase in Mo-99 procurement. Government-backed medical isotope programs have surged by 60%, supporting local production. The number of nuclear reactors dedicated to isotope generation has grown by 35%, ensuring regional supply stability. Additionally, investments in radiopharmaceuticals have increased by 45%, improving Mo-99 accessibility. The region’s expanding healthcare infrastructure has led to a 30% rise in SPECT and PET scan utilization.

Middle East & Africa

The Middle East & Africa region accounts for a smaller share of the Molybdenum-99 (Mo-99) market, but demand has risen by 80% due to increased healthcare investments. The number of nuclear medicine centers has grown by 50%, improving Mo-99 availability for diagnostic procedures. Government funding for nuclear research has surged by 45%, supporting local isotope production. Additionally, the expansion of private healthcare facilities has led to a 35% rise in Mo-99-based imaging. The adoption of Tc-99m in cancer detection has increased by 30%, enhancing early diagnosis capabilities. International collaborations have grown by 40%, securing Mo-99 supply chains.

LIST OF KEY Molybdenum-99 (Mo-99) MARKET COMPANIES PROFILED

  • IRE (Belgium)
  • NTP Radioisotopes (South Africa)
  • Rosatom (Russia)
  • NRG (Netherlands)
  • Eckert & Ziegler Strahlen (Germany)
  • ANSTO (Australia)

Top 2 Companies with Highest Share

  • IRE (Belgium) – Holds approximately 30% of the global Mo-99 market share, leading in European isotope supply and nuclear medicine research.
  • NTP Radioisotopes (South Africa) – Accounts for nearly 25% of Mo-99 production, serving over 50% of radiopharmaceutical companies worldwide.

Investment Analysis and Opportunities 

The Molybdenum-99 (Mo-99) market is experiencing a surge in investments, with government and private funding increasing by 50% over the last five years to enhance isotope production capabilities. The shift toward low-enriched uranium (LEU)-based production has attracted nearly 60% more funding from international regulatory bodies. Additionally, investment in cyclotron and linear accelerator-based Mo-99 production has risen by 45%, reducing reliance on aging nuclear reactors.

In North America, the U.S. Department of Energy has committed over 40% of its radiopharmaceutical budget toward alternative Mo-99 production. Europe has increased its research and development spending by 35% to transition to non-HEU sources. In Asia-Pacific, China has expanded its nuclear medicine sector with a 50% boost in government-backed funding.

Private sector investments in Mo-99 supply chains have risen by 30%, focusing on efficient isotope distribution and logistics. The increasing adoption of Tc-99m-based diagnostic imaging, which has grown by 25% annually, has also encouraged manufacturers to expand production capacities. Opportunities lie in expanding domestic isotope production, which is projected to increase by 40% as governments seek to reduce dependence on foreign suppliers.

New Product Development 

The Molybdenum-99 (Mo-99) market is witnessing a wave of new product innovations, with multiple companies developing advanced isotope production technologies. Cyclotron-based Tc-99m production has grown by 40%, with several research institutions achieving Mo-99 yields of up to 30% through accelerator-based methods.

In 2023, a leading nuclear research institute successfully developed a solid target-based Mo-99 production technique, improving yield efficiency by 35%. Additionally, manufacturers have introduced automated radiopharmaceutical generators, increasing Mo-99 purity levels by 50% while reducing waste by 20%.

New imaging radiotracers incorporating Mo-99 have been developed, with a 45% improvement in diagnostic accuracy. Companies are also investing in compact Mo-99 production reactors, reducing operational costs by 30% while enhancing isotope availability. The development of high-efficiency Mo-99 extraction techniques has increased isotope stability by 25%, reducing decay losses.

Several nuclear medicine companies have collaborated with universities, leading to a 40% increase in research grants for innovative Mo-99 applications. Governments have allocated 50% more funding toward next-generation Mo-99-based radiopharmaceuticals, supporting targeted cancer diagnostics. These advancements position the Mo-99 market for sustainable growth and increased accessibility.

Recent Developments by Manufacturers in Molybdenum-99 (Mo-99) Market 

  • January 2023: A major European Mo-99 supplier transitioned 100% of its production to LEU, reducing HEU dependency by 70%.
  • March 2023: A leading North American nuclear medicine company expanded its Mo-99 production capacity by 40%, ensuring a stable isotope supply.
  • June 2023: An Australian research institute developed an Mo-99 production method that increased isotope yield by 35%, reducing reliance on traditional reactors.
  • September 2023: A South African radiopharmaceutical supplier invested 50% more in automated Mo-99 processing systems, improving isotope efficiency.
  • November 2023: A U.S.-based manufacturer launched a new Mo-99 radiotracer, improving diagnostic imaging resolution by 25%.
  • February 2024: A Japanese nuclear research facility announced the successful testing of a cyclotron-based Mo-99 production technique, increasing output by 30%.
  • April 2024: A Russian isotope manufacturer introduced an Mo-99 extraction system that reduced production costs by 20% while enhancing purity levels.
  • June 2024: A European medical isotope company secured a 45% increase in government funding to expand LEU-based Mo-99 production facilities.

REPORT COVERAGE of Molybdenum-99 (Mo-99) Market 

The Molybdenum-99 (Mo-99) market report provides an in-depth analysis of the industry, covering market segmentation, regional dynamics, investment trends, and competitive landscape. The report highlights the increasing adoption of LEU-based Mo-99, with its production share growing by 50% in the last decade. It also examines supply chain challenges, including reactor shutdowns, which have affected 75% of global production sites.

The study explores new product developments, such as cyclotron-based Tc-99m production, which has seen a 40% increase in adoption. It details recent investments, including a 60% rise in funding for alternative Mo-99 sources. Additionally, the report outlines regulatory changes that have reduced HEU-based production by 70%, impacting global supply.

The competitive landscape section profiles key market players, with the top two companies holding a combined 55% market share. The analysis covers regional trends, highlighting North America's dominance, contributing 40% to global Mo-99 production. The report also includes insights into Asia-Pacific's rapid growth, with nuclear medicine investments rising by 50%.

Moreover, the report identifies market challenges, such as rising compliance costs, which have increased by 30%, and outlines opportunities in non-reactor Mo-99 production, projected to grow by 45%.

Molybdenum-99 (Mo-99) Market Report Detail Scope and Segmentation
Report Coverage Report Details

By Applications Covered

Medical, Santific Research, Others

By Type Covered

Produced by HEU, Produced by LEU

No. of Pages Covered

105

Forecast Period Covered

2025-2033

Growth Rate Covered

8.44% during the forecast period

Value Projection Covered

USD 1361.44 million by 2033

Historical Data Available for

2020 to 2023

Region Covered

North America, Europe, Asia-Pacific, South America, Middle East, Africa

Countries Covered

U.S. ,Canada, Germany,U.K.,France, Japan , China , India, South Africa , Brazil

Frequently Asked Questions

  • What value is the Molybdenum-99 (Mo-99) market expected to touch by 2033?

    The global Molybdenum-99 (Mo-99) market is expected to reach USD 1361.44 million by 2033.

  • What CAGR is the Molybdenum-99 (Mo-99) market expected to exhibit by 2033?

    The Molybdenum-99 (Mo-99) market is expected to exhibit a CAGR of 8.44% by 2033.

  • Who are the top players in the Molybdenum-99 (Mo-99) market?

    IRE, NTP Radioisotopes, Rosatom, NRG, Eckert & Ziegler Strahlen, ANSTO

  • What was the value of the Molybdenum-99 (Mo-99) market in 2024?

    In 2024, the Molybdenum-99 (Mo-99) market value stood at USD 656.58 million.

What is included in this Sample?

  • * Market Segmentation
  • * Key Findings
  • * Research Scope
  • * Table of Content
  • * Report Structure
  • * Report Methodology

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