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United States Iodine Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)
The United States iodine market witnessed a consumption demand of around 8403. 37 tons in 2021. The market is estimated to grow at a CAGR of more than 3% during the forecast period (2022-2027).
New York, June 01, 2022 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "United States Iodine Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)" - https://www.reportlinker.com/p06249302/?utm_source=GNW
Key Highlights
A major factor driving the market studied is the increasing demand from the medical sector, particularly after huge investments in the healthcare sector post the emergence of COVID-19.
On the flip side, rising concern toward increasing health risks from excessive iodine intake is restraining the market growth?.
Iodine recycling is a major opportunity for the market studied in the future.
Key Market Trends
Increasing Demand From The Medical Sector
Cancer is the second leading cause of mortality in the United States, after heart disease. In 2022, the United States is anticipated to have 1.9 million new cancer cases and 609,360 cancer deaths, for a total of 1,670 deaths each day.
Since the early 1940s, radioactive iodine (I-131) has been utilized to treat overactive thyroid diseases (hyperthyroidism). It is a highly successful therapeutic approach. It is becoming more commonly utilized as a first-line therapy than surgery.
Radioactive iodine is absorbed by the thyroid and kills thyroid gland cells. This reduces the quantity of thyroxine produced by the thyroid gland and may also lower the gland’s size.
According to Statista, the revenue from US diagnostic imaging devices was USD 11,131 million in 2021. and it is expected to reach USD 13,504 million by 2026.
Owing to the growing geriatric population, the demand for iodine for cancer treatment and medical imaging applications has been increasing steadily over the past few years.
Underground brine is the most used source to produce Iodine
Iodine is primarily retrieved from underground brines. It is water with many dissolved salts and ions associated with natural gas and oil deposits.
The underground brine is pumped up from the stratum to produce biogenic natural gas (NG) and iodine.
In addition to this, underground brines is used in iodine because they could be a potential source of rubidium, cesium, boron, or strontium.
Iodine is produced from sodium iodide solutions found in underground brines associated with petroleum and natural gas fields. Iodine is also made from subterranean brines. Furthermore, the United States produces iodine from sodium iodide solutions.
Furthermore, underground brines can be classified as chloride, sulfate, and hydrocarbonate. Among all three, only chloride brines, including sodium, calcium, and magnesium, are widely found.
Competitive Landscape
United States Iodine market studied is highly consolidated. Some of the key players (not in any particular order) in the market studied include Iochem Corporation, WOODWARD Iodine CORPORATION (WIC) (ISE Chemicals Corporation), Iofina, and KIVA Holding Inc.
Additional Benefits:
The market estimate (ME) sheet in Excel format
3 months of analyst support
Read the full report: https://www.reportlinker.com/p06249302/?utm_source=GNW
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