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Theranostics Market Outlook (2025-2034): Business Opportunity Analysis, Marketing Strategies, Growth Trends, and Revenue Forecast
Theranostics Market
The Theranostics market was valued at USD 2,049.68 million in 2024. The market is expected to increase at a 15.5% CAGR during the forecast period, growing from USD 2,362.26 in 2025 million to USD 8,640.97 million by 2034.
Market Overview
Theranostics is a medical approach that combines diagnostic imaging and targeted therapy, essentially allowing doctors to 'see' and 'treat' diseases at the same time. The 'Theranostics' name itself, a combination of 'therapy' and 'diagnostics,' reflects the core concept. It uses radiopharmaceuticals, which are radioactive drugs, to both image a disease and then, by using a similar radiopharmaceutical with a different radioactive isotope, to deliver targeted therapy. This personalized approach allows for more precise treatment and potentially reduces side effects compared to traditional therapies. Theranostics allows for treatment to be tailored to the individual patient based on their specific disease characteristics and the presence of specific molecular targets. They can potentially offer earlier diagnosis, more personalized treatment, and better outcomes with fewer side effects compared to traditional therapies.
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Theranostics Market Growth Drivers
📚 Progress in personalized medicine and a growing need for precision healthcare today are fueling market demand.
📚 The increasing use of molecular diagnostics and biomarkers in clinical environments is driving market growth.
📚 The increasing emphasis on personalized treatment strategies is projected to keep fueling the growth of the theranostics market.
📚 Advancements in technology related to companion diagnostics (CDx) are greatly impacting the demand for theranostics.
Competitive Environment of Market
The theranostics market comprises several active companies that are actively engaged in developing and commercializing solutions, integrating diagnostic and therapeutic capabilities to enhance patient outcomes. Key players in influencing the market are:
• Abbott Laboratories
• Advanced Accelerator Applications
• Astellas Pharma Inc.
• Bayer AG
• Cardinal Health, Inc.
• Curium Pharma
• F. Hoffmann-La Roche AG
• GE HealthCare Technologies Inc.
• Illumina, Inc.
• Lantheus Holdings, Inc.
• Siemens Healthineers AG
• Thermo Fisher Scientific Inc.
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Theranostics Market Report Highlights
📊 The theranostics market, based on product type, is segmented into instruments, reagents, and software. Among these, the reagents segment held the largest market share in 2024, primarily due to the critical role they play in diagnostic tests, including biomarker assays and molecular diagnostic applications.
📊 The market, by application, is segmented into oncology, neurology, cardiology, and infectious diseases. The oncology segment dominated the theranostics market share in 2024 due to the increasing prevalence of cancer globally and the growing adoption of targeted therapies for cancer treatment.
📊 The market, by technology, is segmented into genomics, proteomics, metabolomics, and biomarkers. The genomics segment accounted for a major market share in 2024 due to the growing demand for genomic-based diagnostics and targeted therapies.
📊 North America dominated the theranostics market revenue share in 2024, primarily driven by the strong presence of advanced healthcare infrastructure, high adoption of precision medicine, and significant investments in research and development.
Regional Overview
Theranostics Market, Regional Outlook
o North America
» Product Type Outlook
» Instruments
» Reagents
» Software
» Application Outlook
» Oncology
» Neurology
» Cardiology
» Infectious Diseases
» Technology Outlook
» Genomics
» Proteomics
» Metabolomics
» Biomarkers
» End User Outlook
» Hospitals
» Diagnostic Laboratories
» Research Institutes
o Europe
» Product Type Outlook
» Instruments
» Reagents
» Software
» Application Outlook
» Oncology
» Neurology
» Cardiology
» Infectious Diseases
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Segment-Wise Explanation
• The theranostics market is segmented primarily based on product type, technology, application, and region.
• The reagents segment, based on product type, accounted for the largest market share in 2024, mainly because of their essential role in diagnostic tests, such as biomarker assays and molecular diagnostics.
• Thee oncology segment, based on application, led the market share in 2024 as a result of the rising global cancer rates and the escalating use of targeted therapies for treating the disease.
Theranostics Market, Product Type Outlook (Revenue - USD Billion, 2020-2034)
• Instruments
• Reagents
• Software
Theranostics Market, Application Outlook (Revenue - USD Billion, 2020-2034)
• Oncology
• Neurology
• Cardiology
• Infectious Diseases
Theranostics Market, Technology Outlook (Revenue - USD Billion, 2020-2034)
• Genomics
• Proteomics
• Metabolomics
• Biomarkers
Theranostics Market, End User Outlook (Revenue - USD Billion, 2020-2034)
• Hospitals
• Diagnostic Laboratories
• Research Institutes
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