Theranostics Market Size is valued at USD 2.48 Bn in 2024 and is predicted to reach USD 9.33 Bn by the year 2034 at a 14.4% CAGR during the forecast period for 2025-2034.
Theranostics refers to the practice of using two radioactive medications simultaneously, one for diagnosis and another for therapy, to treat the original tumor and any metastasized tumors. The term theranostics combines the word therapeutics and diagnostics or testing. Drug delivery, diagnosis, and monitoring of treatment response are three of the most common uses of theranostics in cancer treatment, and the field helps to consolidate these uses into a single agent. Combining imaging with molecular radiotherapy allows for pinpoint radiation therapy directed at receptors; positron emission tomography is used to detect tumors, and diagnostic imaging is used to determine whether cancer cells have target receptors. The worldwide theranostics market stands to gain the most from the increasing availability of cost-effective treatment options. A major factor impacting market demand is the rising prevalence of chronic disorders. Furthermore, the growing need for contemporary technology-based pharmaceutical production and the accompanying increase in funding for biotechnology research institutes will likely overshadow the industry's expansion.
However, the market growth is hampered by the Lack of awareness criteria for the safety and health of the theranostics market and the product's inability to prevent fog in environments with dramatic temperature fluctuations or high theranostics because Lack of training programs in healthcare institutions is causing a shortage of qualified doctors, which is subtly reducing demand in the worldwide theranostics industry. Additionally, the industry faces challenges from variables such as the high expense of installing and maintaining the equipment in laboratories and the government's strict restrictions for the clearance of new products.
The Theranostics Market is segmented based on product, application, and end user. Based on product, the market is segmented into diagnostic imaging, radiopharmaceuticals, IVD/biomarker, screening, and software and services. By application, the market is segmented into prostate cancer, bone metastasis, other cancers, and other applications. By end user, the market is segmented into hospitals & cancer care centers, theranostics centers, and research & academic centers.
The diagnostic imaging theranostics market is expected to hold a major global market share in 2022. Diagnostic imaging provides an exceptionally high degree of accuracy in detecting and diagnosing a wide range of medical disorders. Driving the category growth is the increasing usage of modern equipment that supports correct diagnosis and the availability of systems with improved sensitivity.
Hospitals and cancer care centers make up the bulk of acrylic acid ester usage because more and more people are learning about the benefits of the treatment, and hospitals are adopting it. This is mainly because hospitals are increasingly using new diagnostic imaging systems that have recently been approved and have increased functionality to better assist patient care, especially in countries like the US, Germany, the UK, China, and India.
The North American theranostics market is expected to register the highest market share in revenue in the near future. It can be attributed to the increasing number of investments backing theranostics' adoption and the rising prevalence of cancer. Creating the transportation centers and the rapid increase in the region's elderly population drive the market's expansion. In addition, Asia Pacific is projected to grow rapidly in the global theranostics market because of growing disposable money, cutting-edge product development, and healthcare spending.
|
Report Attribute |
Specifications |
|
Market Size Value In 2024 |
USD 2.48 Bn |
|
Revenue Forecast In 2034 |
USD 9.33 Bn |
|
Growth Rate CAGR |
CAGR of 14.4% from 2025 to 2034 |
|
Quantitative Units |
Representation of revenue in US$ Bn and CAGR from 2025 to 2034 |
|
Historic Year |
2021 to 2024 |
|
Forecast Year |
2025-2034 |
|
Report Coverage |
The forecast of revenue, the position of the company, the competitive market structure, growth prospects, and trends |
|
Segments Covered |
By Product, By Application, By End-user and By Region |
|
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; France; Italy; Spain; South East Asia; South Korea |
|
Competitive Landscape |
Advanced Accelerator Applications, Bayer AG, GE Healthcare, Siemens Healthineers Ag, Cardinal Health, Philips Healthcare, Canon Inc, Curium, Lantheus, Northsatr, Medical Radioisotopes, Eckert & Ziegler, Pharmalogic, Eczacibasi -Monrol, Acrotech biopharma Inc. and Others |
|
Customization Scope |
Free customization report with the procurement of the report and 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 Theranostics Market Snapshot
Chapter 4. Global Theranostics 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 Product Estimates & Trend Analysis
5.1. by Product & Market Share, 2024 & 2034
5.2. Market Size (Value (US$ Mn)) & Forecasts and Trend Analyses, 2021 to 2034 for the following by Product:
5.2.1. Diagnostic Imaging
5.2.2. Radiopharmaceuticals
5.2.3. IVD/Biomarker Screening
5.2.4. Software and Services
Chapter 6. Market Segmentation 2: by Application Estimates & Trend Analysis
6.1. by Application & Market Share, 2024 & 2034
6.2. Market Size (Value (US$ Mn)) & Forecasts and Trend Analyses, 2021 to 2034 for the following by Application:
6.2.1. Prostate Cancer
6.2.2. Bone Metastasis
6.2.3. Other Cancers
6.2.4. Other Applications
Chapter 7. Market Segmentation 4: by End-User Estimates & Trend Analysis
7.1. by End-User & Market Share, 2024 & 2034
7.2. Market Size (Value (US$ Mn)) & Forecasts and Trend Analyses, 2021 to 2034 for the following by End-User:
7.2.1. Hospitals and Cancer Care Centers
7.2.2. Theranostics Centers
7.2.3. Research and Academic Centers
Chapter 8. Theranostics Market Segmentation 4: Regional Estimates & Trend Analysis
8.1. North America
8.1.1. North America Theranostics Market Revenue (US$ Million) Estimates and Forecasts by Product, 2021-2034
8.1.2. North America Theranostics Market Revenue (US$ Million) Estimates and Forecasts by Application, 2021-2034
8.1.3. North America Theranostics Market Revenue (US$ Million) Estimates and Forecasts by End-User, 2021-2034
8.1.4. North America Theranostics Market Revenue (US$ Million) Estimates and Forecasts by country, 2021-2034
8.2. Europe
8.2.1. Europe Theranostics Market Revenue (US$ Million) Estimates and Forecasts by Product, 2021-2034
8.2.2. Europe Theranostics Market Revenue (US$ Million) Estimates and Forecasts by Application, 2021-2034
8.2.3. Europe Theranostics Market Revenue (US$ Million) Estimates and Forecasts by End-User, 2021-2034
8.2.4. Europe Theranostics Market Revenue (US$ Million) Estimates and Forecasts by country, 2021-2034
8.3. Asia Pacific
8.3.1. Asia Pacific Theranostics Market Revenue (US$ Million) Estimates and Forecasts by Product, 2021-2034
8.3.2. Asia Pacific Theranostics Market Revenue (US$ Million) Estimates and Forecasts by Application, 2021-2034
8.3.3. Asia Pacific Theranostics Market Revenue (US$ Million) Estimates and Forecasts by End-User, 2021-2034
8.3.4. Asia Pacific Theranostics Market Revenue (US$ Million) Estimates and Forecasts by country, 2021-2034
8.4. Latin America
8.4.1. Latin America Theranostics Market Revenue (US$ Million) Estimates and Forecasts by Product, 2021-2034
8.4.2. Latin America Theranostics Market Revenue (US$ Million) Estimates and Forecasts by Application, 2021-2034
8.4.3. Latin America Theranostics Market Revenue (US$ Million) Estimates and Forecasts by End-User, 2021-2034
8.4.4. Latin America Theranostics Market Revenue (US$ Million) Estimates and Forecasts by country, 2021-2034
8.5. Middle East & Africa
8.5.1. Middle East & Africa Theranostics Market Revenue (US$ Million) Estimates and Forecasts by Product, 2021-2034
8.5.2. Middle East & Africa Theranostics Market Revenue (US$ Million) Estimates and Forecasts by Application, 2021-2034
8.5.3. Middle East & Africa Theranostics Market Revenue (US$ Million) Estimates and Forecasts by End-User, 2021-2034
8.5.4. Middle East & Africa Theranostics Market Revenue (US$ Million) Estimates and Forecasts by country, 2021-2034
Chapter 9. Competitive Landscape
9.1. Major Mergers and Acquisitions/Strategic Alliances
9.2. Company Profiles
9.2.1. Advanced Accelerator Applications
9.2.2. Bayer AG
9.2.3. GE Healthcare
9.2.4. Siemens healthiness Ag
9.2.5. Cardinal Health
9.2.6. Philips Healthcare
9.2.7. Canon Inc
9.2.8. Curium
9.2.9. Lantheus
9.2.10. Northstar Medical Radioisotopes
9.2.11. Eckert & Ziegler
9.2.12. Pharmacologic
9.2.13. Eczacibasi -Monroe
9.2.14. Acrotech Biopharma Inc.
9.2.15. Other Prominent Players
Theranostics Market- By Product
Theranostics Market- By Application
Theranostics Market- By End User
Theranostics Market- By Region
North America-
Europe-
Asia-Pacific-
Latin America-
Middle East & Africa-
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:
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:
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.
