How Has The Radiopharmaceutical Theranostics Market Size Evolved Historically?
The radiopharmaceutical theranostics market has seen considerable growth due to a variety of factors.
•In recent times, the size of the radiopharmaceutical theranostics market has undergone rapid expansion. Its size is projected to increase from $2.88 billion in 2024 to $3.27 billion in 2025, reflecting a compound annual growth rate (CAGR) of 13.7%.
This uptick during the historical period can be credited to the progress in radiopharmaceutical development, advancements in clinical research, increased investment in research, regulatory approval, and the evolution of nuclear medicine.
What Will Be The Radiopharmaceutical Theranostics Market Size In The Future?
The radiopharmaceutical theranostics market is expected to maintain its strong growth trajectory in upcoming years.
• The market size of radiopharmaceutical theranostics is predicted to undergo significant expansion in the subsequent years, rising to a value of $5.76 billion by 2029, with a compound annual growth rate (CAGR) of 15.2%.
Factors contributing to this increase during the forecasted timeframe include advancements in biomarker identification and verification, genomics and proteomics, specific development of radiotherapy, interdisciplinary partnerships, as well as patient advocacy and assistance. Key trends foreseen in the coming period comprise of ethical and legal aspects, the integration of telemedicine with theranostics, a more patient-focused approach to care, personalization of radiopharmaceuticals, and developments in nano-theranostics.
What Key Factors and Trends are Driving the Growth of the Radiopharmaceutical Theranostics Market?
The anticipated surge in cancer occurrences is set to fuel the escalation of the radiopharmaceutical theranostics market. Cancer is characterized as a complicated disease with irregular cell growth that potentially invades and spreads throughout the body. Radiopharmaceutical theranostics facilitates cancer treatment through precise and individualized methods. For instance, the American Cancer Society, a United States voluntary health organization, foresees that there will be approximately 1.9 million new cancer diagnoses, and roughly 609,820 cancer-related fatalities in the US come 2023. Additionally, it's projected that 88% of these diagnoses will involve individuals aged 50 years and above. Consequently, the increasing incidence of cancer is propelling the development of the radiopharmaceutical theranostics market.
What are the Market Segments in the Radiopharmaceutical Theranostics Market?
The radiopharmaceutical theranostics market covered in this report is segmented –
1) By Product Type: Alpha Emitters, Beta Emitters, Positron Emission Tomography (PET) Tracers
2) By Source: Nuclear Reactors, Cyclotrons
3) By Radioisotope: Technetium-99, Gallium-68, Iodine-131, Iodine-123, 18F, Y-90, Lutetium (Lu) 177, Copper (Cu) 67, Copper (Cu) 64, Other Radioscopes
4) By Indication: Oncology, Cardiology, Neurology, Other Indications
5) By End User: Hospitals, Diagnostic Imaging Centers, Academic And Research Institutes, Other End Users
Subsegments:
1) By Alpha Emitters: Actinium-225, Radium-223, Bismuth-213, Other Alpha-Emitting Radiopharmaceuticals
2) By Beta Emitters: Iodine-131, Lutetium-177, Yttrium-90, Other Beta-Emitting Radiopharmaceuticals
3) By Positron Emission Tomography (PET) Tracers: Fluorodeoxyglucose (FDG), Gallium-68, Carbon-11, Other PET Tracers
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What Trends are Shaping the Radiopharmaceutical Theranostics Market?
Key players in the radiopharmaceutical theranostics sector are increasingly turning to strategic alliances as a means of pioneering new therapies. Merging resources and knowledge through these partnerships enhances R&D capabilities, widens their reach, accelerates product introduction to the market, and ultimately promotes innovation and growth within the radiopharmaceutical theranostics market. To illustrate, in March 2023, the Australia-based biotech company, Radiopharm Theranostics, formed a partnership with US firm, Pharma15 Corporation. Their collaboration focuses on the creation of next-generation radiopharmaceutical therapies for prostate cancer, particularly aimed at surpassing resistance to current PSMA-targeted treatments while increasing selectivity to reduce toxicity in healthy tissues.
Who Are the Key Players in the Radiopharmaceutical Theranostics Market?
Major companies operating in the radiopharmaceutical theranostics market include:
• Cardinal Health Inc.
• GE HealthCare Technologies Inc.
• Bayer AG
• China Grand Pharmaceutical & Healthcare.
• Lantheus Medical Imaging Inc.
• Curium Pharma
• Advanced Accelerator Applications
• Telix Pharmaceuticals Ltd.
• Bracco Imaging S.p.A
• NTP Radioisotopes SOC Ltd.
• Navidea Biopharmaceuticals Inc.
• Jubilant DraxImage Inc.
• NorthStar Medical Radioisotopes LLC
• Blue Earth Diagnostics Ltd.
• Precirix NV
• SpectronRx
• Viewpoint Molecular Targeting Inc.
• NuView Life Sciences
• Alpha-9 Theranostics Inc.
• RadioMedix Inc
• RayzeBio Inc
• Fusion Pharmaceuticals Inc
• Actinium Pharmaceuticals Inc.
• Eckert & Ziegler Strahlen- und Medizintechnik AG
• Ariceum Therapeutics GmbH
• Radiopharm Theranostics Ltd
• Ratio Therapeutics Inc
• Primo Biotechnology
• Bivision Biomedical Technology (Nanjing) Co. Ltd.
What are the Regional Insights into the Radiopharmaceutical Theranostics Market?
North America was the largest region in the radiopharmaceutical theranostics market in 2024. The regions covered in the radiopharmaceutical theranostics market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
