Global Theranostics Market Set for Strong Growth to USD 7.56 Billion by 2033, Led by North America's 40% Global Market Share | DataM Intelligence

The Global Theranostics Market reached USD 2.13 billion in 2023 and increased to USD 2.40 billion in 2024. It is projected to reach USD 7.56 billion by 2033, growing at a strong CAGR of 15.4% during 2025-2033.

Market growth is driven by rising demand for personalized medicine, increasing use of targeted radiopharmaceuticals, and advancements in diagnostic imaging technologies. Additionally, the growing prevalence of cancer and expanding adoption of precision treatment approaches are further accelerating market expansion.

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United States: Key Industry Developments
✅ November 2025: Novartis received FDA approval for a novel PSMA-targeted theranostic agent, enhancing prostate cancer treatment precision with integrated imaging and therapy for better patient outcomes.

✅ October 2025: Eli Lilly launched an oncology theranostic platform combining PET imaging with radioligand therapy, focusing on neuroendocrine tumors to improve diagnostic accuracy and targeted dosing.

✅ September 2025: Bayer expanded its Lutathera production in the US, introducing an upgraded theranostic kit for gastroenteropancreatic neuroendocrine tumors with improved radiopharmaceutical stability.

Asia Pacific / Japan: Key Industry Developments
✅ November 2025: Fujifilm Pharma in Japan introduced a new fibroblast activation protein inhibitor for theranostic use in solid tumors, supporting early detection and personalized treatment in clinical trials.

✅ October 2025: AstraZeneca partnered with Indian biotech firms to launch a theranostic trial for breast cancer in Asia Pacific, integrating AI-driven diagnostics with radionuclide therapy for regional accessibility.

✅ September 2025: The Japanese Ministry of Health approved a domestically developed theranostic workflow platform by Nihon Medi-Physics, optimizing PSMA imaging and therapy for prostate cancer patients.

Key Merges and Acquisitions(2025):
✅ Telix Pharmaceuticals Limited - expanded its U.S. radiopharmaceutical capabilities with the acquisition of RLS Radiopharmacies Inc. for USD 250 million in September 2024, enhancing isotope production and supply chain for theranostics applications.

✅ First Ascent Biomedical Inc. - secured USD 6 million investment from Vidal Duart Enterprises, Inc. and Techstars in January 2025 to advance personalized cancer theranostics treatments, strengthening North American market leadership.

Market Segmentation Analysis:
-By Imaging Techniques: PET vs SPECT
PET leads with 55% market share as of 2025, favored for its superior sensitivity in detecting metabolic activity in cancers via positron-emitting tracers.
SPECT holds 45% share, valued for cost-effectiveness and widespread availability in assessing perfusion and bone pathology.
PET drives innovation in precision theranostics due to hybrid PET/CT integration.

-By Radioisotopes: Technetium-99 Leads with Dominant Share
Technetium-99 commands 48% market share, excelling in routine SPECT imaging for cardiac and oncology diagnostics with ideal half-life.
Gallium-68 captures 20% share, surging in PET for prostate and neuroendocrine tumors via PSMA and DOTATATE targeting.
Lutetium-177 (15%), Iodine-131 (8%), Y-90 (5%), and Zirconium-89 (4%) follow, with others at 0%, powering targeted radionuclide therapies.

-By Application: Prostate Cancer Dominates Growth
Prostate cancer secures 35% market share, propelled by PSMA-PET and Lu-177 therapies amid rising incidence.
Bone metastasis claims 25% share, relying on SPECT bone scans and beta-emitters like Sr-89 for pain palliation.

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Growth Drivers:
-Rising prevalence of cancer and chronic diseases worldwide, particularly prostate cancer and bone metastasis, fuels demand for targeted diagnostics and treatments.

-Advancements in precision medicine and personalized therapies enable tailored patient care, improving outcomes and adoption rates.

-Increasing use of radiopharmaceuticals and nuclear medicine technologies supports combined diagnosis and therapy approaches.

-Expansion in emerging markets like Asia-Pacific, driven by growing healthcare infrastructure, government initiatives, and large patient populations in countries such as India and China.

-Technological innovations, including nanoparticle-based delivery systems and investments in R&D, enhance efficacy, safety, and market accessibility.

Regional Insights:
-North America commands the largest share of the global theranostics market at approximately 40%, fueled by advanced healthcare infrastructure, high adoption of precision medicine, and substantial investments in oncology research and development.

-Europe follows as the second-largest region, benefiting from robust regulatory frameworks, established nuclear medicine capabilities, and growing collaborations between pharmaceutical firms and research institutions to advance targeted therapies.

-Asia Pacific ranks third in market share, exhibiting the fastest growth potential due to rising cancer prevalence, expanding healthcare access in countries like China and India, and government-backed initiatives in nuclear medicine and personalized treatments.

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Key Players:
GE HealthCare | Siemens Healthineers | Telix Pharmaceuticals | SDS Lifesciences | NMR

Key Highlights (Top 5 Key Players) for Global Theranostics Market:
-Telix Pharmaceuticals reported USD 206 million in Q3 2025 revenue from its PSMA imaging portfolio including Illuccix and Gozellix, with full-year 2025 guidance upgraded to USD 800-820 million driven by European expansions and U.S. launches.​

-GE HealthCare leads with advanced PET/CT and SPECT/CT systems plus radiopharmacy automation, leveraging its global distribution and strong clinical evidence for theranostics imaging workflows.​

-Siemens Healthineers generated significant revenue through PET/MRI suites and AI-enabled imaging analytics, bolstered by research partnerships like the MGH Therapy Command Center for end-to-end theranostics solutions.​

-Novartis AG, via its Advanced Accelerator Applications subsidiary, focuses on targeted radioligand therapies like Lutathera, contributing to the market's growth in precision oncology with established reimbursement pathways.​

-Lantheus Holdings reported strong performance in radiopharmaceuticals for prostate cancer theranostics, expanding its PYLARIFY platform amid rising demand for PSMA-targeted diagnostics and therapies.​

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