Press release
Future of the Radiotheranostics Market: Strategic Analysis and Forecast to 2034
Radiotheranostics
Radiotheranostics Market Size Valuation Forecast: What Will the Market Be Worth by 2025?
In the last few years, we have seen a significant expansion in the radiotheranostics market. The market value is forecasted to increase from $8.79 billion in 2024 to reach a value of $10.07 billion in 2025, with a compound annual growth rate (CAGR) of 14.6%. The remarkable growth during the past years has been due to various factors including advancements in nuclear medicine, an increased number of cancer cases, the progression of personalized medicine, improvements in radiopharmaceuticals, regulatory approvals, and standardization.
Radiotheranostics Market Size Forecast: What's the Projected Valuation by 2029?
In the upcoming years, the radiotheranostics market is predicted to experience a swift expansion. The market is estimated to grow to $16.94 billion by 2029, progressing at a CAGR of 13.9%. This projected growth during the forecast period can be credited to advancements in targeted cancer therapies, broadening oncology research, increasing incidences of chronic diseases, and the development of theranostic applications. Some key trends noticed during this period are the development of theranostic radiopharmaceuticals, the broadening scope of applications beyond oncology, customization of radiopharmaceuticals, the role of nanotechnology in radiotheranostics, and changes in regulations and standardization.
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What Are the Drivers Transforming the Radiotheranostics Market?
The radiotheranostics market is poised for expansion, driven largely by the rising incidence of cancer. This disease is characterized by unruly cell proliferation, which then invades other parts of the body. Patient-specific medicinal solutions are often provided by radiotheranostics, which enable the detection and treatment of particular cells, commonly cancerous ones. This targeted method improves treatment efficacy and clinical outcomes. For example, the American Cancer Society reported that the number of cancer cases in January 2024 rose to 2,001,140 from the previous year's 1,958,310 - a 2.19% increase. This uptick in cancer cases indeed positively impacts the radiotheranostics market.
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What Long-Term Trends Will Define the Future of the Radiotheranostics Market?
The trend of product innovations is gaining traction in the radiotheranostics market, with leading companies focusing their energies on developing innovative products to consolidate their market standing. For instance, Advanced Cyclotron Systems Inc., a firm based in Canada renowned for supplying and servicing cyclotrons primarily used in the production of medical isotopes, launched the TR-ALPHA in May 2023. This product is designed to manufacture alpha-emitting radioisotopes to combat cancer and perfectly responds to the market requirement for an affordable cyclotron with massive Astatine-211 production capacity, a highly promising alpha-emitting radioisotope. The TR-ALPHA stands out as it's not only smaller but also less costly and easier to operate compared to older cyclotron models proficient in producing alpha-emitting radioisotopes. Therefore, it proves to be the perfect choice for hospitals, researchers, and institutions that are keen to run a dedicated cyclotron to effectively manufacture large volumes of therapeutic alpha-emitting radioisotopes.
Which Segments in the Radiotheranostics Market Offer the Most Profit Potential?
The radiotheranostics market covered in this report is segmented -
1) By Radioisotope: Technetium-99, Gallium-68, Iodine-131, Iodine-123, Fludeoxyglucose-18F, Yttrium-90, Lutetium (Lu) 177, Copper (Cu) 67, Copper (Cu) 64, Other Radioisotopes
2) By Approach: Targeted Therapeutic, Targeted Diagnostic
3) By Application: Oncology, Non-Oncology
4) By End-Users: Hospitals And Clinics, Pharmaceutical And Biotechnology Companies, Other End-Users
Subsegments:
1) By Technetium-99: Technetium-99m, Technetium-99 Pertechnetate
2) By Gallium-68: Gallium-68 DOTATATE, Gallium-68 PSMA
3) By Iodine-131: Iodine-131 For Thyroid Cancer Treatment, Iodine-131 For Hyperthyroidism Treatment
4) By Iodine-123: Iodine-123 For Thyroid Scans, Iodine-123 For Cardiac Imaging
5) By Fludeoxyglucose-18F (FDG): FDG For Oncology Imaging, FDG For Brain Imaging
6) By Yttrium-90: Yttrium-90 Microspheres For Liver Cancer, Yttrium-90 For Radioimmunotherapy
7) By Lutetium (Lu) 177: Lutetium-177 PSMA For Prostate Cancer, Lutetium-177 DOTATATE For Neuroendocrine Tumors
8) By Copper (Cu) 67: Copper-67 For Targeted Radiotherapy, Copper-67 In Clinical Trials
9) By Copper (Cu) 64: Copper-64 For PET Imaging, Copper-64 For Radiotherapy
10) By Other Radioisotopes: Radium-223, Samarium-153, Other Emerging Radioisotopes In Theranostics
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Which Firms Dominate the Radiotheranostics Market by Market Share and Revenue in 2025?
Major companies operating in the radiotheranostics market include Lantheus Holdings Inc., Cardinal Health Inc., GE Healthcare Inc., Bayer AG, Novartis AG, Siemens Healthineers, Orano Med, Curium SAS, IBA Molecular, The Eckert & Ziegler Group, Advanced Accelerator Applications (AAA), Telix Pharmaceuticals Limited., Abdera Therapeutics, Blue Earth Diagnostics, Sirtex Medical Limited, Y-mAbs Therapeutics Inc., ITM Radiopharma, NorthStar Medical Radioisotopes LLC, Trasis S.A., Molecular Targeting Technologies Inc., RadioMedix Inc, Clarity Pharmaceuticals, Actinium Pharmaceuticals Inc., Navidea Biopharmaceuticals Inc.
Which Regions Offer the Highest Growth Potential in the Radiotheranostics Market?
North America was the largest region in the radiotheranostics market in 2024. The regions covered in the radiotheranostics market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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