The Business Research Company’s report on the Theranostics 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 theranostics industry?
The rising prevalence of cancer is expected to propel the growth of the theranostics market going forward. Cancer refers to uncontrolled cell growth, which impacts various organs and contributes to significant morbidity and mortality worldwide. Theranostics, the integration of therapeutics and diagnostics, offers promising potential in cancer and chronic disease management. This approach enables personalized and targeted treatments by combining diagnostic and therapeutic capabilities, presenting opportunities for innovation in the healthcare industry. Hence, the increase in number of cancer patients will contribute to the growth of the theranostics market. For instance, in January 2022, according to the National Cancer Institute (NCI), a US-based government agency of the National Institutes of Health (NIH) dedicated to cancer research, prevention, and treatment, In the United States, approximately 5.4% of the population, or 18.1 million individuals, are cancer survivors. In addition, there were 623,405 people living with metastatic breast, prostate, lung, colorectal, or bladder cancer or metastatic melanoma in 2022, a number projected to rise to 693,452 by 2025. Therefore, the rising prevalence of cancer is driving the theranostics market.
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What is the estimated market size of the theranostics sector by 2029, based on current forecasts?
The theranostics market size has grown rapidly in recent years. It will grow from$111.1 billion in 2024 to $123.33 billion in 2025 at a compound annual growth rate (CAGR) of 11.0%. The growth in the historic period can be attributed to advancements in molecular imaging, shift to value-based healthcare, integration in oncology
The theranostics market size is expected to see rapid growth in the next few years. It will grow to “$185.73 billion in 2029 at a compound annual growth rate (CAGR) of 10.8%. The growth in the forecast period can be attributed to rise in precision medicine initiatives, expanding applications beyond oncology, population aging and chronic diseases, advancements in biomarker discovery, government support and funding. Major trends in the forecast period include regulatory support, rise of companion diagnostics, increased focus on cancer theranostics, patient engagement and awareness, technological convergence.
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Who are the top players in the theranostics market?
Major companies operating in the theranostics market include Abbott Laboratories, Agilent Technologies Inc., AmeriPath Inc, Beckman Coulter Inc., Thermo Fisher Scientific Inc, Astellas Pharma, Helmholtz Centre for Infection Research, Radiopharm Theranostics Ltd, Alpha- Theranostics, UNIVERZITET U NOVOM SADU, Cardio-Theranostics LLC, Curium, SoFi Technologies Inc., Theradiag, Cell Theranostics, F. Hoffmann-La Roche AG, GE HealthCare Technologies Inc, Qiagen NV, Foundation Medicine Inc, Leica Biosystems Nussloch GmBH, Pfizer Inc., Siemens Healthineers, Advanced Accelerator Applications, AstraZeneca plc, Bayer AG, Bio-Rad Laboratories, The Bristol-Myers Squibb Company, Danaher Corporation, MilliporeSigma, Illumina Inc., Merck KGaA, Roche Diagnostics Corporation, PerkinElmer Inc.
What are the major trends in the theranostics market?
Major companies operating in the theranostics market are focusing on developing technologically advanced solutions, such as theranostics clinical trials, to enhance personalized medicine and improve patient outcomes by integrating diagnostics and therapeutics into a single treatment approach. Theranostics clinical trials are research studies that evaluate the combined use of diagnostic tests and targeted therapies to tailor treatment strategies for individual patients. These trials aim to determine the effectiveness of specific treatments based on patient-specific biomarkers, thereby enhancing personalized medicine. For instance, in May 2024, BAMF Health, a US-based cancer treatment center, launched the COMBAT Trial, officially titled “A Phase I/II Theranostic Study of 64Cu-SAR-BBN and 67Cu-SAR-BBN for Identification and Treatment of GRPR-expressing Metastatic Castrate Resistant Prostate Cancer in Patients Who Are Ineligible for Therapy With 177Lu-PSMA-617” (NCT05633160). Key features include a rapid activation process through BAMF Health’s BAMF RapAct program, which enabled the trial to launch in just seven weeks, and a focus on utilizing innovative radiopharmaceuticals targeting the Gastrin-Releasing Peptide receptor (GRPR), aiming to improve treatment options for patients with limited therapeutic avenues.
Which geography holds the highest theranostics market share?
North America was the largest region in the global theranostics market in 2024.Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the theranostics 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 theranostics market?
The theranostics market covered in this report is segmented –
1) By Disease Type: Neurological Disorders, Cardiovascular Diseases, Immunological Disorders, Oncology Diseases, Other Diseases
2) By Technology: Polymerase Chain Reaction, Immunohistochemistry, In-Situ Hybridization, Sequencing, Other Technologies
3) By End User: Hospitals And Clinics, Diagnostic Laboratories, Other End Users
Subsegments:
1) By Neurological Disorders: Alzheimer’s Disease, Parkinson’s Disease, Multiple Sclerosis, Epilepsy, Other Neurological Disorders
2) By Cardiovascular Diseases: Coronary Artery Disease, Heart Failure, Atrial Fibrillation, Hypertension, Other Cardiovascular Diseases
3) By Immunological Disorders: Rheumatoid Arthritis, Systemic Lupus Erythematosus, Inflammatory Bowel Disease, Psoriasis, Other Immunological Disorders
4) By Oncology Diseases: Breast Cancer, Lung Cancer, Colorectal Cancer, Prostate Cancer, Other Oncology Diseases
5) By Other Diseases: Infectious Diseases, Metabolic Disorders, Genetic Disorders, Other Diseases
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How is the theranostics market defined?
Theranostics is a medical field combining therapeutics and diagnostics into a single, integrated approach. It involves developing and applying diagnostic tests that not only detect diseases or conditions but also provide information to guide personalized therapeutic interventions.
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