Press release
Theranostics Market Share, Trends, Demand, Outlook, Opportunities and Market Forecast 2023-2030
A new area of medicine called "theranostics," which is a combination of "therapy" and "diagnostics," combines targeted therapy with diagnostics. In order to give each patient individualized and targeted care, it entails the creation and implementation of integrated diagnostic tests and therapeutic interventions. Theranostics' main objective is to improve patient care by customizing medications according to a patient's unique disease features.
It gives doctors the ability to determine the precise molecular and genetic composition of a patient's illness, empowering them to choose the best course of action. In numerous medical specialties, including as oncology, neurology, cardiology, and infectious diseases, theranostics has demonstrated encouraging outcomes. Theranostics has the ability to completely transform patient care by enabling tailored treatment by merging diagnostics and therapy.
Theranostics Market Size and Growth Analysis
The global theranostics market reached USD 1.8 billion in 2022 and is expected to witness lucrative growth by reaching up to USD 4.2 billion by 2030. The global theranostics market is expected to exhibit a CAGR of 11.3% during the forecast period 2023-2030.
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Theranostics Market Dynamics
World Theranostics Day is an annual celebration of the advances in the field of theranostics, which combines targeted therapy and diagnostics, on March 31. This information was published in Radioligand Therapy, a publication that was released on March 31, 2022. This day honors the 1941 Massachusetts General Hospital administration of the first radioiodine treatment. The field of theranostics is still developing and has a lot of potential to help people with cancer and other difficult diseases as well as healthcare systems.
Theranostics offers tailored medicine that can help prevent expensive and unsuitable treatments and diagnostic procedures in the face of overwhelmed health systems. Because technology makes customized care possible, there are fewer needless intrusive procedures, better disease monitoring, and lower healthcare expenditures. Theranostics is being improved in large part by nanotechnology.
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Theranostics Market Segment Analysis
By Application
By Radioisotopes
By End User
By Region
Major Companies Covered
F. Hoffmann La Roche, Thermo Fisher Scientific Inc, GE Healthcare, Agilent Technologies, Qiagen NV, Foundation Medicine, Leica Biosystems Nussloch GmBH, Beckman Coulter, Pfizer, Inc., Abbott Laboratories.
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