What Transformation Has the Theranostics Market Undergone?
The theranostics market has seen considerable growth due to a variety of factors.
•Rapid expansion in recent years has been seen in the theranostics market size. The market will increase from $111.1 billion in 2024 to $123.33 billion in 2025, growing at a compound annual growth rate (CAGR) of 11.0%.
The historical period's growth can be credited to advancements in molecular imaging, the transition to a value-based healthcare model, and oncology integration.
How Will The Theranostics Market Size Evolve In The Foreseeable Future?
The theranostics market is expected to maintain its strong growth trajectory in upcoming years.
• Expectations are high for the theranostics market as its size is predicted to experience a swift expansion in the upcoming years, growing to "$185.73 billion in 2029 with a compound annual growth rate (CAGR) of 10.8%.
The projected growth in the forecast period can be linked to factors such as the development of precision medicine initiatives, increased applications beyond oncology, the impact of an aging population and chronic illnesses, advancement in biomarker discovery, as well as support and funding from the government. The major trends anticipated during the forecast period comprise regulatory backing, the emergence of companion diagnostics, intensifying focus on cancer theranostics, increased patient engagement and awareness, and technological integration.
Which Key Drivers Are Propelling The Theranostics Market's Growth?
The growth of the theranostics market is anticipated to be fueled by the increasing occurrence of cancer. This condition is characterized by unregulated cell proliferation that affects multiple organs and results in substantial global morbidity and mortality. The fusion of diagnostics and therapeutics - theranostics - holds considerable potential for the management of cancer and chronic illnesses. It allows for personalized and targeted interventions through the amalgamation of diagnostic and therapeutic abilities, thus paving the way for the potential breakthroughs in the healthcare sector. Consequently, the spike in cancer cases is expected to spur the theranostics market growth. For example, the National Cancer Institute (NCI), a branch of the National Institutes of Health (NIH) in the United States focused on cancer study, prevention, and treatment, reported in January 2022 that approximately 5.4% of the population, or 18.1 million people, are cancer survivors. Furthermore, the number of individuals with metastatic cancer affected in the breast, prostate, lung, colon, bladder, or melanoma amounted to 623,405 in 2022, a figure expected to go up to 693,452 by 2025. Hence, the increasing occurrence of cancer is propelling the theranostics market.
What Are The Key Segments Within The Global 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 Are New Trends Impacting The Size Of The Theranostics Market?
Prominent firms in the theranostics market are targeting the creation of advanced technological solutions, such as theranostics clinical trials, to elevate personalized medicine and boost patient outcomes. This involves the blend of diagnostics and therapeutic techniques for a uniform treatment method. Theranostics clinical trials are research-based studies exploring the merged use of diagnostic procedures and targeted treatments to customize treatment tactics for each patient. Such studies focus on evaluating the effectiveness of distinctive treatments, considering patient-specific biomarkers—fostering personalized medicine. For instance, the BAMF Health, a US-based cancer treatment organization, instituted the COMBAT Trial or officially named as "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) in May 2024. Distinct features include a swift activation process via the BAMF RapAct program of BAMF Health which made the trial inauguration possible in merely seven weeks, and emphasizes leveraging innovative radiopharmaceuticals aligning with the Gastrin-Releasing Peptide receptor (GRPR), aspiring to enhance treatment methods for patients with confined therapeutic options.
Who Are the Key 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 Regional Insights into the Theranostics Market?
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.
