Radiotheranostics Market Size, Share & Trends Analysis Report By Radioisotope, By Source (Nuclear Reactors, Cyclotrons), By Approach, By Application(Oncology, Non-Oncology), By End-User, By Region, And Segment Forecasts, 2023-2031

Report ID : 1499 | Published : 2023-04-18 | Pages: 185 | Format: PDF/EXCEL

The Global Radiotheranostics Market Size is valued at 1.68 billion in 2022 and is predicted to reach 4.36 billion by the year 2031 at an 11.35% CAGR during the forecast period for 2023-2031.

Radiotheranostics is a division of radiology that combines molecular imaging (primarily PET and SPECT) with targeted radionuclide therapy, which involves the use of small molecules, peptides, and/or antibodies as carriers for therapeutic radionuclides, typically those emitting -, -, or auger-radiation. The approval of new radiotheranostic agents such as 177Lu-DOTATATE and 177Lu-PSMA-617, as well as the availability of companion diagnostic agents (such as 68Ga-DOTATATE and 68Ga-PSMA-11, respectively), has fueled a resurgence of interest in the field, fueling a slew of clinical trials testing novel radiotheranostics.

Radiotheranostics Market

Increased public-private funding for target research initiatives, growing public awareness of the advantages of alpha radio immunotherapy-based targeted cancer treatment, and increased product innovations and development due to global technological advancements is expected to create lucrative opportunities for market participants during the forecast period. Hospital budget cuts, particularly during the pandemic, a lack of sufficient infrastructure in low- and middle-income nations, and an unfavorable reimbursement environment are all anticipated to pose challenges to the market throughout the projection period. 

Increasing investment in R&D, particularly in developed and developing economies, for medical instruments and devices will further open up lucrative market expansion opportunities. The nuclear medical field's research and development capabilities also support the market growth rate. Growing numbers of strategic alliances and partnerships between public and private players are opening up lucrative new market opportunities for the funding and use of cutting-edge technology.

Market Segmentation:

The radiotheranostics market is segmented on the radioisotope, source, approach, applications and end users. Based on radioisotope, the market is segmented into technetium-99, gallium-68, iodine-131, iodine-123, 18F, y-90, lutetium (lu) 177, copper (Cu) 67, copper (Cu) 64, others. Based on source, the market is segmented into Nuclear Reactors, Cyclotrons. Based on approach market is segmented into Targeted Therapeutic (Rx), Companion Diagnostic (DX). Based on application, the radiotheranostics market is segmented into oncology (thyroid cancer, neuroendocrine cancer, hepatocellular carcinoma, multiple myeloma, lymphoma, others) and non-oncology (joint infections, arthritis, bone pain, others). Based on end-use, the radiotheranostics market is segmented into hospitals & clinics, pharmaceutical & biotechnology companies and others.

The  177 Lu segment witnessed growth at a rapid rate

177 Lu segment grabbed the highest revenue share, and it is anticipated that they will continue to hold that position during the anticipated time. The majority of radioisotopes are employed in oncology for radiation therapy or diagnosis. Theranostics frequently utilized in diagnosing and treating neuroendocrine tumors include 68 Ga DONATE and 177 Lu DOTATOC. The main causes of the intense interest in the clinical application of this radionuclide are its good nuclear properties and the simplicity of obtaining high activity levels of 177Lu.

Cyclotrons are expected to expand at the fastest CAGR during forecast period.

Cyclotrons are fast evolving and will play an increasingly significant role in the pharmaceutical industry, particularly in advanced medical imaging techniques, since radiopharmaceuticals generated by cyclotrons are exceptionally effective at identifying various diseases.

The North American radiotheranostics market holds a significant revenue share in the region.

The North American radiotheranostics market is expected to register the highest market share in revenue soon because of the region's robust healthcare infrastructure, rising overweight population, large patient population suffering from chronic diseases like cancer, coronary artery disease, and strokes, and increased research activity. In addition, Asia Pacific is projected to grow rapidly in the global radiotheranostics market. However, this business is still expected to have substantial development potential due to the expanding number of clinical settings where flow cytometry is used.

Competitive Landscape

Some major key players in the Radiotheranostics market 

  • TransCode Therapeutics, Inc.,
  • Curium SAS,
  • GE Healthcare Inc.,
  • Bayer AG,
  • Lantheus Medical,
  • Imaging, Inc.,
  • Novartis AG,
  • Spectrum Pharmaceuticals, Inc.,
  • Ipsen S.A.,
  • Actinium Pharmaceuticals, Inc. (ATNM),
  • Nordic Nanovector ASA,
  • Y-mAbs Therapeutics, Inc.,
  • Sofie Biosciences, Inc.,
  • Terumo Corporation,
  • Sirtex Medical Limited,
  • Boston Scientific Corporation,
  • Nihon Medi-Physics,
  • ITM Isotopen Technologien München AG,
  • Advanced Accelerator Applications,
  • Telix Pharmaceuticals,
  • Theragnostics Ltd.,
  • NuView Life Sciences,
  • Jubilant Pharma Limited,
  • Clarity Pharmaceuticals.

Global Radiotheranostics Market Report Scope

Report Attribute

Specifications

Market Size Value In 2022

USD 1.69 billion

Revenue Forecast In 2031

USD 4.36billion

Growth Rate CAGR

CAGR of 11.35% from 2023 to 2031

Quantitative Units

Representation of revenue in US$ Billion and CAGR from 2023 to 2031

Historic Year

2019 to 2022

Forecast Year

2023-2031

Report Coverage

The forecast of revenue, the position of the company, the competitive market structure, growth prospects, and trends

Segments Covered

Radioisotope, Source, Approach, Application, End-User

Regional Scope

North America; Europe; Asia Pacific; Latin America; Middle East & Africa

Country Scope

U.S.; Canada; U.K.; Germany; China; India; Japan; Brazil; Mexico ;The UK; France; Italy; Spain; China; Japan; India; South Korea; South East Asia; South Korea; South East Asia

Competitive Landscape

TransCode Therapeutics, Inc., Curium SAS, GE Healthcare Inc., Bayer AG, Lantheus Medical, Imaging, Inc., Novartis AG, Spectrum Pharmaceuticals, Inc., Ipsen S.A., Actinium Pharmaceuticals, Inc. (ATNM), Nordic Nanovector ASA, Y-mAbs Therapeutics, Inc., Sofie Biosciences, Inc., Terumo Corporation, Sirtex Medical Limited, Boston Scientific Corporation, Nihon Medi-Physics, ITM Isotopen Technologien München AG, Advanced Accelerator Applications, Telix Pharmaceuticals, Theragnostics Ltd., NuView Life Sciences, Jubilant Pharma Limited, and Clarity Pharmaceuticals.

Customization Scope

Free customization report with the procurement of the report, Modifications to the regional and segment scope. Particular Geographic competitive landscape.

Pricing And Available Payment Methods

Explore pricing alternatives that are customized to your particular study requirements.

Chapter 1. Methodology and Scope

1.1. Research Methodology

1.2. Research Scope & Assumptions

Chapter 2. Executive Summary

Chapter 3. Global Radiotheranostics Market Snapshot

Chapter 4. Global Radiotheranostics Market Variables, Trends & Scope

4.1. Market Segmentation & Scope

4.2. Drivers

4.3. Challenges

4.4. Trends

4.5. Investment and Funding Analysis

4.6. Industry Analysis – Porter’s Five Forces Analysis

4.7. Competitive Landscape & Market Share Analysis

4.8. Impact of Covid-19 Analysis

Chapter 5. Market Segmentation 1: by Radioisotope Estimates & Trend Analysis

5.1. by Radioisotope & Market Share, 2023 & 2031

5.2. Market Size (Value (US$ Mn)) & Forecasts and Trend Analyses, 2019 to 2030 for the following by Radioisotope:

5.2.1. Technetium-99

5.2.2. Gallium-68

5.2.3. Iodine-131

5.2.4. Iodine-123

5.2.5. 18F

5.2.6. Y-90

5.2.7. Lutetium (Lu) 177

5.2.8. Copper (Cu) 67

5.2.9. Copper (Cu) 64

5.2.10. Others

Chapter 6. Market Segmentation 2: by Source Estimates & Trend Analysis

6.1. by Source & Market Share, 2019 & 2030

6.2. Market Size (Value (US$ Mn)) & Forecasts and Trend Analyses, 2019 to 2030 for the following by Source:

6.2.1. Nuclear Reactors

6.2.2. Cyclotrons

Chapter 7. Market Segmentation 3: by Approach Estimates & Trend Analysis

7.1. by Approach & Market Share, 2019 & 2030

7.2. Market Size (Value (US$ Mn)) & Forecasts and Trend Analyses, 2019 to 2030 for the following by Approach:

7.2.1. Targeted Therapeutic (Rx)

7.2.2. Companion Diagnostic (DX)

Chapter 8. Market Segmentation 4: by Application Estimates & Trend Analysis

8.1. by Application & Market Share, 2023 & 2031

8.2. Market Size (Value (US$ Mn)) & Forecasts and Trend Analyses, 2023 to 2031 for the following by Application:

8.2.1. Oncology

8.2.1.1. Thyroid Cancer

8.2.1.2. Neuroendocrine Cancer

8.2.1.3. Hepatocellular Carcinoma

8.2.1.4. Multiple Myeloma

8.2.1.5. Lymphoma

8.2.1.6. Others

8.2.2. Non-Oncology

8.2.2.1. Joint Infections

8.2.2.2. Arthritis

8.2.2.3. Bone Pain

8.2.2.4. Others

Chapter 9. Market Segmentation 5: by End-user Estimates & Trend Analysis

9.1. by End-user & Market Share, 2023 & 2031

9.2. Market Size (Value (US$ Mn)) & Forecasts and Trend Analyses, 2023 to 2031 for the following by End-user:

9.2.1. Hospitals & Clinics

9.2.2. Pharmaceutical & Biotechnology Companies

9.2.3. Others

Chapter 10. Radiotheranostics Market Segmentation 6: Regional Estimates & Trend Analysis

10.1. North America

10.1.1. North America Radiotheranostics Market Revenue (US$ Billion) Estimates and Forecasts by Radioisotope, 2023-2031

10.1.2. North America Radiotheranostics Market Revenue (US$ Billion) Estimates and Forecasts by Source, 2023-2031

10.1.3. North America Radiotheranostics Market revenue (US$ Billion) by Approach, 2023-2031

10.1.4. North America Radiotheranostics Market revenue (US$ Billion) by Application, 2023-2031

10.1.5. North America Radiotheranostics Market revenue (US$ Billion) by End-user, 2023-2031

10.1.6. North America Radiotheranostics Market Revenue (US$ Billion) Estimates and Forecasts by country, 2023-2031

10.2. Europe

10.2.1. Europe Radiotheranostics Market revenue (US$ Billion) by Radioisotope, 2023-2031

10.2.2. Europe Radiotheranostics Market revenue (US$ Billion) by Source, 2023-2031

10.2.3. Europe Radiotheranostics Market revenue (US$ Billion) by Approach, 2023-2031

10.2.4. Europe Radiotheranostics Market revenue (US$ Billion) by Application, 2023-2031

10.2.5. Europe Radiotheranostics Market revenue (US$ Billion) by End-user, 2023-2031

10.2.6. Europe Radiotheranostics Market revenue (US$ Billion) by country, 2023-2031

10.3. Asia Pacific

10.3.1. Asia Pacific Radiotheranostics Market revenue (US$ Billion) by Radioisotope, 2023-2031

10.3.2. Asia Pacific Radiotheranostics Market revenue (US$ Billion) by Source, 2023-2031

10.3.3. Asia-Pacific Radiotheranostics Market revenue (US$ Billion) by Approach, 2023-2031

10.3.4. Asia Pacific Radiotheranostics Market revenue (US$ Billion) by Application, 2023-2031

10.3.5. Asia Pacific Radiotheranostics Market revenue (US$ Billion) by End-user, 2023-2031

10.3.6. Asia Pacific Radiotheranostics Market revenue (US$ Billion) by country, 2023-2031

10.4. Latin America

10.4.1. Latin America Radiotheranostics Market revenue (US$ Billion) by Radioisotope, 2023-2031

10.4.2. Latin America Radiotheranostics Market revenue (US$ Billion) by Source, 2023-2031

10.4.3. Latin America Radiotheranostics Market revenue (US$ Billion) by Approach, 2023-2031

10.4.4. Latin America Radiotheranostics Market revenue (US$ Billion) by Application, 2023-2031

10.4.5. Latin America Radiotheranostics Market revenue (US$ Billion) by End-user, 2023-2031

10.4.6. Latin America Radiotheranostics Market revenue (US$ Billion) by country, 2023-2031

10.5. Middle East & Africa

10.5.1. Middle East & Africa Radiotheranostics Market revenue (US$ Billion) by Radioisotope, 2023-2031

10.5.2. Middle East & Africa Radiotheranostics Market revenue (US$ Billion) by Source, 2023-2031

10.5.3. Middle East & Africa Radiotheranostics Market revenue (US$ Billion) by Approach, 2023-2031

10.5.4. Middle East & Africa Radiotheranostics Market revenue (US$ Billion) by Application, 2023-2031

10.5.5. Middle East & Africa Radiotheranostics Market revenue (US$ Billion) by End-user, 2023-2031

10.5.6. Middle East & Africa Radiotheranostics Market revenue (US$ Billion) by country, 2023-2031

Chapter 11. Competitive Landscape

11.1. Major Mergers and Acquisitions/Strategic Alliances

11.2. Company Profiles

11.2.1. Actinium Pharmaceuticals, Inc

11.2.2. Advanced Accelerator Applications

11.2.3. Bayer AG

11.2.4. Boston Scientific Corporation

11.2.5. Clarity Pharmaceuticals

11.2.6. Curium SAS

11.2.7. GE Healthcare Inc

11.2.8. Imaging, Inc

11.2.9. Ipsen S.A.

11.2.10. ITM Isotopen Technologien München AG

11.2.11. Jubilant Pharma Limited

11.2.12. Lantheus Medical

11.2.13. Nihon Medi-Physics

11.2.14. Nordic Nanovector ASA

11.2.15. Novartis AG

11.2.16. NuView Life Sciences

11.2.17. Sirtex Medical Limited

11.2.18. Sofie Biosciences, Inc

11.2.19. Spectrum Pharmaceuticals, Inc

11.2.20. Telix Pharmaceuticals

11.2.21. Terumo Corporation

11.2.22. Theragnostics Ltd.

11.2.23. TransCode Therapeutics, Inc.

11.2.24.  Y-mAbs Therapeutics, Inc

11.2.25. Other Prominent Players

Segmentation of Radiotheranostics Market-

By Radioisotope:

  • Technetium-99
  • Gallium-68
  • Iodine-131
  • Iodine-123
  • 18F
  • Y-90
  • Lutetium (Lu) 177
  • Copper (Cu) 67
  • Copper (Cu) 64
  • Others

Radiotheranostics Market

By Source

  • Nuclear Reactors
  • Cyclotrons

By Approach         

  • Targeted Therapeutic (Rx)
  • Companion Diagnostic (DX)

By Application: 

  • Oncology
    • Thyroid Cancer
    • Neuroendocrine Cancer
    • Hepatocellular Carcinoma
    • Multiple Myeloma
    • Lymphoma
    • Others
  • Non-Oncology
    • Joint Infections
    • Arthritis
    • Bone Pain
    • Others

By End User:

  • Hospitals & Clinics
  • Pharmaceutical & Biotechnology Companies
  • Others

InsightAce Analytic follows a standard and comprehensive market research methodology focused on offering the most accurate and precise market insights. The methods followed for all our market research studies include three significant steps – primary research, secondary research, and data modeling and analysis - to derive the current market size and forecast it over the forecast period. In this study, these three steps were used iteratively to generate valid data points (minimum deviation), which were cross-validated through multiple approaches mentioned below in the data modeling section.

Through secondary research methods, information on the market under study, its peer, and the parent market was collected. This information was then entered into data models. The resulted data points and insights were then validated by primary participants.

Based on additional insights from these primary participants, more directional efforts were put into doing secondary research and optimize data models. This process was repeated till all data models used in the study produced similar results (with minimum deviation). This way, this iterative process was able to generate the most accurate market numbers and qualitative insights.

Secondary research

The secondary research sources that are typically mentioned to include, but are not limited to:

  • Company websites, financial reports, annual reports, investor presentations, broker reports, and SEC filings.
  • External and internal proprietary databases, regulatory databases, and relevant patent analysis
  • Statistical databases, National government documents, and market reports
  • Press releases, news articles, and webcasts specific to the companies operating in the market

The paid sources for secondary research like Factiva, OneSource, Hoovers, and Statista

Primary Research:

Primary research involves telephonic interviews, e-mail interactions, as well as face-to-face interviews for each market, category, segment, and subsegment across geographies

The contributors who typically take part in such a course include, but are not limited to: 

  • Industry participants: CEOs, CBO, CMO, VPs, marketing/ type managers, corporate strategy managers, and national sales managers, technical personnel, purchasing managers, resellers, and distributors.
  • Outside experts: Valuation experts, Investment bankers, research analysts specializing in specific markets
  • Key opinion leaders (KOLs) specializing in unique areas corresponding to various industry verticals
  • End-users: Vary mainly depending upon the market

Data Modeling and Analysis:

In the iterative process (mentioned above), data models received inputs from primary as well as secondary sources. But analysts working on these models were the key. They used their extensive knowledge and experience about industry and topic to make changes and fine-tuning these models as per the product/service under study.

The standard data models used while studying this market were the top-down and bottom-up approaches and the company shares analysis model. However, other methods were also used along with these – which were specific to the industry and product/service under study.

To know more about the research methodology used for this study, kindly contact us/click here.

 

Through secondary research methods, information on the market under study, its peer, and the parent market was collected. This information was then entered into data models. The resulted data points and insights were then validated by primary participants.

Based on additional insights from these primary participants, more directional efforts were put into doing secondary research and optimize data models. This process was repeated till all data models used in the study produced similar results (with minimum deviation). This way, this iterative process was able to generate the most accurate market numbers and qualitative insights.

Secondary research

The secondary research sources that are typically mentioned to include, but are not limited to:

  • Company websites, financial reports, annual reports, investor presentations, broker reports, and SEC filings.
  • External and internal proprietary databases, regulatory databases, and relevant patent analysis
  • Statistical databases, National government documents, and market reports
  • Press releases, news articles, and webcasts specific to the companies operating in the market

The paid sources for secondary research like Factiva, OneSource, Hoovers, and Statista

Primary Research:

Primary research involves telephonic interviews, e-mail interactions, as well as face-to-face interviews for each market, category, segment, and subsegment across geographies

The contributors who typically take part in such a course include, but are not limited to: 

  • Industry participants: CEOs, CBO, CMO, VPs, marketing/ type managers, corporate strategy managers, and national sales managers, technical personnel, purchasing managers, resellers, and distributors.
  • Outside experts: Valuation experts, Investment bankers, research analysts specializing in specific markets
  • Key opinion leaders (KOLs) specializing in unique areas corresponding to various industry verticals
  • End-users: Vary mainly depending upon the market

Data Modeling and Analysis:

In the iterative process (mentioned above), data models received inputs from primary as well as secondary sources. But analysts working on these models were the key. They used their extensive knowledge and experience about industry and topic to make changes and fine-tuning these models as per the product/service under study.

The standard data models used while studying this market were the top-down and bottom-up approaches and the company shares analysis model. However, other methods were also used along with these – which were specific to the industry and product/service under study.

To know more about the research methodology used for this study, kindly contact us/click here.

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Frequently Asked Questions

How big is the Radiotheranostics Market?

Radiotheranostics Market expected to grow at a 11.35 % CAGR during the forecast period for 2023-2031

TransCode Therapeutics, Inc., Curium SAS, GE Healthcare Inc., Bayer AG, Lantheus Medical, Imaging, Inc., Novartis AG, Spectrum Pharmaceuticals, Inc.,

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