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Comprehensive Analysis of the Theranostics Market: Detailed Insights, Market Segmentation, Influential Factors, and Technology Advancements Driving Future Growth
Theranostics Market
Theranostics Global Market Report 2024 by The Business Research Company offers comprehensive market insights, empowering businesses with a competitive edge. It includes detailed estimates for numerous segments and sub-segments, providing valuable strategic guidance.
The Market Size Is Expected To Reach $164.38 billion In 2028 At A CAGR Of 10.5% :
The theranostics market size has grown rapidly in recent years. It will grow from $98.91 billion in 2023 to $110.41 billion in 2024 at a compound annual growth rate (CAGR) of 11.6%. The growth in the historic period can be attributed to advancements in molecular imaging, shift to value-based healthcare, integration in oncology..
The theranostics market size is expected to see rapid growth in the next few years. It will grow to $164.38 billion in 2028 at a compound annual growth rate (CAGR) of 10.5%. The growth in the forecast period can be attributed to rise in precision medicine initiatives, expanding applications beyond oncology, population aging and chronic diseases, advancements in biomarker discovery, government support and funding.. Major trends in the forecast period include regulatory support, rise of companion diagnostics, increased focus on cancer theranostics, patient engagement and awareness, technological convergence..
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Theranostics Market Major Segments
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
Key Driver - Rising Cancer Prevalence Fuels Growth In The Theranostics Market
The rising prevalence of cancer is expected to propel the growth of the theranostics market going forward. Cancer refers to uncontrolled cell growth, which impacts various organs and contributes to significant morbidity and mortality worldwide. Theranostics, the integration of therapeutics and diagnostics, offers promising potential in cancer and chronic disease management. This approach enables personalized and targeted treatments by combining diagnostic and therapeutic capabilities, presenting opportunities for innovation in the healthcare industry. Hence, the increase in number of cancer patients will contribute to the growth of the theranostics market. For instance, in January 2022, according to the National Cancer Institute (NCI), a US-based government agency of the National Institutes of Health (NIH) dedicated to cancer research, prevention, and treatment, In the United States, approximately 5.4% of the population, or 18.1 million individuals, are cancer survivors. In addition, there were 623,405 people living with metastatic breast, prostate, lung, colorectal, or bladder cancer or metastatic melanoma in 2022, a number projected to rise to 693,452 by 2025. Therefore, the rising prevalence of cancer is driving the theranostics market.
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Prominent Trend - Theranostics Market Embraces Technological Integration
The integration of imaging and treatment technologies is a key trend gaining popularity in the theranostics market. Major companies operating in the theranostics market are integrating multiple imaging and treatment technologies to provide more accurate and personalized treatments for a wide range of medical conditions, enhance patient care, and sustain their position in the market. For instance, in March 2021, GE HealthCare Technologies Inc., a US-based medical technology company, launched StarGuide, latest SPECT/CT technology, aimed at facilitating research for clinicians. This advanced system incorporates the latest Cadmium Zinc Telluride (CZT) technology, which enables healthcare providers to gain deeper insights into patient conditions and improve patient outcomes across various care areas. With its digital focus detectors and 360-degree imaging, StarGuide is expected to bolster precision health and enhance theranostic capabilities in nuclear medicine.
Theranostics Market Players
Major companies operating in the theranostics market report are 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.
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Largest And Fastest Growing Region In The Market
North America was the largest region in the global theranostics market in 2023. 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
The Table Of Content For The Market Report Include:
1. Executive Summary
2. Theranostics Market Report Structure
3. Theranostics Market Trends And Strategies
4. Theranostics Market - Macro Economic Scenario
5. Theranostics Market Size And Growth
…..
27. Theranostics Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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