Press release
Rising Cancer Prevalence Fuels Growth In The Theranostics Market Driver: Leading Transformation in the Theranostics Market in 2025
Theranostics Market
The theranostics market is forecasted to grow due to an upward trend in cancer cases. Cancer, a disease characterized by unchecked cell growth affecting numerous organs, is a leading cause of considerable illness and death globally. Theranostics, combining therapeutic and diagnostic aspects, holds significant prospects in managing cancer and chronic illnesses. This methodology paves the way for tailored and specific treatments by merging diagnostic and therapeutic capabilities, creating prospects for advancements in the healthcare sector. Consequently, the surge in cancer cases will foster the expansion of the theranostics market. For example, in January 2022, the National Cancer Institute (NCI), a US government entity under National Institutes of Health (NIH) committed to cancer research, prevention, and treatment, reported that roughly 5.4% of the population or 18.1 million individuals in the United States are cancer survivors. Further, as of 2022, 623,405 individuals were living with metastatic breast, prostate, lung, colorectal, or bladder cancer or metastatic melanoma. This figure is projected to increase to 693,452 by 2025. Hence, the escalating incidence rate of cancer is propelling the theranostics market.
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What is the projected compound annual growth rate (CAGR) of the theranostics market from 2025 to 2034, and what factors influence it?
In recent times, the theranostics market has experienced a swift expansion. It's projected to escalate from a valuation of $111.1 billion in 2024 to $123.33 billion in 2025, with a compound annual growth rate (CAGR) of 11.0%. This growth over the past years is due to significant enhancements in molecular imaging, a shift towards value-based healthcare, and incorporation in the field of oncology.
The market size for theranostics is anticipated to experience exponential growth in the forthcoming years, escalating to a worth of "$185.73 billion in 2029 with a compound annual growth rate (CAGR) of 10.8%. The predicted growth within the forecast period can be credited to the upsurge in precision medicine initiatives, extended applications surpassing oncology, the aging population and chronic diseases, advances in biomarker discovery, as well as government backing and funding. Leading trends within the forecast period consist of regulatory support, the emergence of companion diagnostics, heightened focus on cancer theranostics, patient involvement and knowledge, and technological integration.
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How are the latest trends influencing the growth of the theranostics market?
Leading firms in the theranostics market are prioritizing the creation of technology-forward solutions, such as theranostics clinical trials, to boost personalized medicine and better overall health among patients. They are achieving this by converging diagnostics and therapeutics into a singular treatment strategy. Theranostics clinical trials are studies that assess the cooperative use of diagnostic tests and targeted therapies to create custom treatment plans for individual patients. Through these trials, they aim to ascertain the efficacy of particular treatments based on personal biomarkers of patients, therefore, promoting personalized medicine. In May 2024, a notable example was when BAMF Health, an American cancer treatment facility, introduced the COMBAT Trial, officially known 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). Distinguishing features of the trial, expedited by BAMF Health's BAMF RapAct program, include a fast-track activation process which led to the trial being operational in seven weeks and an emphasis on using novel radiopharmaceuticals that target the Gastrin-Releasing Peptide receptor (GRPR). This endeavor aims to enhance treatment possibilities for patients with restricted therapeutic options.
What are the major segments of the theranostics market and their role in driving growth?
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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Which regions are key players in the growth of 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.
Who are the key firms paving the way for growth 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.
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What Is Covered In The Theranostics Global Market Report?
• Market Size Forecast: Examine the theranostics market size across key regions, countries, product categories, and applications.
• Segmentation Insights: Identify and classify subsegments within the theranostics market for a structured understanding.
• Key Players Overview: Analyze major players in the theranostics market, including their market value, share, and competitive positioning.
• Growth Trends Exploration: Assess individual growth patterns and future opportunities in the theranostics market.
• Segment Contributions: Evaluate how different segments drive overall growth in the theranostics market.
• Growth Factors: Highlight key drivers and opportunities influencing the expansion of the theranostics market.
• Industry Challenges: Identify potential risks and obstacles affecting the theranostics market.
• Competitive Landscape: Review strategic developments in the theranostics market, including expansions, agreements, and new product launches.
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