The Business Research Company’s report on the Radiotheranostics Market provides insights into the global market size, growth rate, regional distribution, competitive landscape, key segments, emerging trends, and strategic opportunities.
How are market drivers shaping the future growth trajectory of the radiotheranostics industry?
The increasing prevalence of cancer is expected to propel the growth of the radiotheranostics market going forward. Cancer is a condition in which some cells in the body develop uncontrollably and spread to other regions of the body. Radiotheranostics medicines are commonly employed in cancer to offer the ultimate notion of customized medicine by using paired diagnostic and therapeutic radionuclide probes for the selective and targeted detection and treatment of specific (typically cancer) cells, each of which is suited to the patient’s underlying condition to enhance treatment efficiency and better clinical output. For instance, in January 2024, according to the American Cancer Society, a US-based nonprofit cancer advocacy organization, the number of cancer cases increased to 2,001,140 compared to 1,958,310 in 2023, reflecting a growth of 2.19%. Therefore, the increasing prevalence of cancer drives the radiotheranostics market.
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What is the estimated market size of the radiotheranostics sector by 2029, based on current forecasts?
The radiotheranostics market size has grown rapidly in recent years. It will grow from $8.79 billion in 2024 to $10.07 billion in 2025 at a compound annual growth rate (CAGR) of 14.6%. The growth in the historic period can be attributed to advancements in nuclear medicine, a rise in cancer cases, personalized medicine development, advances in radiopharmaceuticals, regulatory approvals and standards
The radiotheranostics market size is expected to see rapid growth in the next few years. It will grow to $16.94 billion in 2029 at a compound annual growth rate (CAGR) of 13.9%. The growth in the forecast period can be attributed to advancements in targeted cancer therapies, expansion in oncology research, rise in chronic diseases, and growth in theranostic applications. Major trends in the forecast period include theranostic radiopharmaceutical development, expanding applications beyond oncology, personalized radiopharmaceuticals, nanotechnology in radiotheranostics, regulatory shifts and standardization.
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Who are the top players in the radiotheranostics market?
Major companies operating in the radiotheranostics market include Lantheus Holdings Inc., Cardinal Health Inc., GE Healthcare Inc., Bayer AG, Novartis AG, Siemens Healthineers, Orano Med, Curium SAS, IBA Molecular, The Eckert & Ziegler Group, Advanced Accelerator Applications (AAA), Telix Pharmaceuticals Limited., Abdera Therapeutics, Blue Earth Diagnostics, Sirtex Medical Limited, Y-mAbs Therapeutics Inc., ITM Radiopharma, NorthStar Medical Radioisotopes LLC, Trasis S.A., Molecular Targeting Technologies Inc., RadioMedix Inc, Clarity Pharmaceuticals, Actinium Pharmaceuticals Inc., Navidea Biopharmaceuticals Inc.
What are the major trends in the radiotheranostics market?
Product innovations are a key trend gaining popularity in the radiotheranostics market. Significant companies are concentrating their efforts on creating innovative products to strengthen their position in the market. For instance, in May 2023, Advanced Cyclotron Systems Inc., a Canada-based company that supplies and services cyclotrons predominantly used for producing medical isotopes, introduced TR-ALPHA for producing alpha-emitting radioisotopes to treat cancer. It is an appropriate solution to the market demand for a low-cost cyclotron capable of producing vast amounts of Astatine-211, one of the most promising alpha-emitting radioisotopes. The TR-ALPHA is also far smaller, less costly, and simpler to run than previous cyclotron models capable of manufacturing alpha-emitting radioisotopes. It is the ideal solution for hospitals, researchers, and institutions interested in running a dedicated cyclotron to efficiently produce enormous amounts of therapeutic alpha-emitting radioisotopes.
Which geography holds the highest radiotheranostics market share?
North America was the largest region in the radiotheranostics market in 2024. The regions covered in the radiotheranostics market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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How do different segments contribute to the overall expansion of the radiotheranostics market?
The radiotheranostics market covered in this report is segmented –
1) By Radioisotope: Technetium-99, Gallium-68, Iodine-131, Iodine-123, Fludeoxyglucose-18F, Yttrium-90, Lutetium (Lu) 177, Copper (Cu) 67, Copper (Cu) 64, Other Radioisotopes
2) By Approach: Targeted Therapeutic, Targeted Diagnostic
3) By Application: Oncology, Non-Oncology
4) By End-Users: Hospitals And Clinics, Pharmaceutical And Biotechnology Companies, Other End-Users
Subsegments:
1) By Technetium-99: Technetium-99m, Technetium-99 Pertechnetate
2) By Gallium-68: Gallium-68 DOTATATE, Gallium-68 PSMA
3) By Iodine-131: Iodine-131 For Thyroid Cancer Treatment, Iodine-131 For Hyperthyroidism Treatment
4) By Iodine-123: Iodine-123 For Thyroid Scans, Iodine-123 For Cardiac Imaging
5) By Fludeoxyglucose-18F (FDG): FDG For Oncology Imaging, FDG For Brain Imaging
6) By Yttrium-90: Yttrium-90 Microspheres For Liver Cancer, Yttrium-90 For Radioimmunotherapy
7) By Lutetium (Lu) 177: Lutetium-177 PSMA For Prostate Cancer, Lutetium-177 DOTATATE For Neuroendocrine Tumors
8) By Copper (Cu) 67: Copper-67 For Targeted Radiotherapy, Copper-67 In Clinical Trials
9) By Copper (Cu) 64: Copper-64 For PET Imaging, Copper-64 For Radiotherapy
10) By Other Radioisotopes: Radium-223, Samarium-153, Other Emerging Radioisotopes In Theranostics
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How is the radiotheranostics market defined?
Radiotheranostics refers to diagnoses and treatments that utilize imaging methods with radioactive substances to pinpoint specific targets in the body. It is used to administer targeted radiation therapy to defined locations, allowing for precise and tailored cancer treatment while minimizing harm to healthy tissues to enhance treatment results and patient care.
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