Theranostics Market by Product, Application, End-User

List of Tables

[194 Pages Report] The Theranostics Market size was estimated at USD 2.33 billion in 2023 and expected to reach USD 2.67 billion in 2024, at a CAGR 14.89% to reach USD 6.18 billion by 2030.

Theranostics represents an innovative field in medical science that combines diagnostics with targeted therapy based on diagnostic test results. This approach enables personalized treatment, allowing for more efficient and effective healthcare delivery by tailoring treatment to the individual's specific disease characteristics. The primary applications of theranostics include oncology, cardiovascular diseases, neurological disorders, and infectious diseases, among others. The end-users of theranostics are largely hospitals and clinics, diagnostic laboratories, and research institutions, where the integration of therapeutic and diagnostic processes can significantly enhance patient care. The increasing prevalence of target diseases worldwide is expanding the need for theranostics. The growing inclination towards personalized medicines and rising advancements in molecular biology are expanding the usage of theranostics. Additionally, the growth of healthcare infrastructure and increasing investments in R&D activities globally serve as key drivers for the growth of the theranostics market. High costs associated with R&D and issues related to data privacy and the ethical considerations of personalized medicine pose significant challenges to market growth. Growing development of novel biomarkers, non-invasive imaging techniques, and precision therapeutics are expected to create opportunities for market growth. The integration of data analytics and machine learning presents a frontier for developing predictive models for patient response, optimizing treatment regimens, and monitoring disease progression.

KEY MARKET STATISTICS
Base Year [2023]	USD 2.33 billion
Estimated Year [2024]	USD 2.67 billion
Forecast Year [2030]	USD 6.18 billion
CAGR (%)	14.89%

Regional Insights

The Americas represents a highly developing landscape for theranostics market development, characterized by high healthcare expenditure, robust patent registrations, and significant investments in personalized medicine. Growing awareness of personalized healthcare benefits with rising public and private sector investments for research and application in theranostics are expected to create a platform for the market in the Americas. In the European Union (EU), regulatory support, along with strong healthcare systems, promotes the growth of the theranostics market. Countries including Germany, France, and the UK are at the forefront, with research centered on oncology and neurodegenerative diseases. The Middle East shows emerging interest, propelled by investments in healthcare infrastructure and partnerships with Western biotech firms. Africa displays potential particularly in regions with developing healthcare systems, focusing on accessible diagnostic services. Asia Pacific is rapidly emerging as a significant region in the theranostics field, backed by government initiatives aimed at boosting innovation in personalized medicine. Japan's aging population drives need for advanced theranostic solutions, particularly in oncology and cardiovascular diseases. India, with its growing healthcare sector and focus on affordable care, is witnessing increased investment in localized theranostic research and collaborations.

Market Insights

Market Dynamics

The market dynamics represent an ever-changing landscape of the Theranostics Market by providing actionable insights into factors, including supply and demand levels. Accounting for these factors helps design strategies, make investments, and formulate developments to capitalize on future opportunities. In addition, these factors assist in avoiding potential pitfalls related to political, geographical, technical, social, and economic conditions, highlighting consumer behaviors and influencing manufacturing costs and purchasing decisions.

Market Drivers
- Growing prevalence of target diseases globally
- Rising advancements in personalized medicine and molecular biology

Market Restraints
- High costs associated with R&D and the complexity of regulatory approvals

Market Opportunities
- Increasing integration of data analytics and machine learning in theranostics
- Growing development of novel biomarkers and non-invasive imaging techniques

Market Challenges
- Data privacy and the ethical considerations of personalized medicine

Market Segmentation Analysis
- Product: Rising usage of software for data acquisition, processing, and analysis
- End-User: Growing potential of theranostics among hospitals for the management of a variety of diseases

Market Disruption Analysis
Porter's Five Forces Analysis
Value Chain & Critical Path Analysis
Pricing Analysis
Technology Analysis
Patent Analysis
Trade Analysis
Regulatory Framework Analysis

FPNV Positioning Matrix

The FPNV positioning matrix is essential in evaluating the market positioning of the vendors in the Theranostics Market. This matrix offers a comprehensive assessment of vendors, examining critical metrics related to business strategy and product satisfaction. This in-depth assessment empowers users to make well-informed decisions aligned with their requirements. Based on the evaluation, the vendors are then categorized into four distinct quadrants representing varying levels of success, namely Forefront (F), Pathfinder (P), Niche (N), or Vital (V).

Market Share Analysis

The market share analysis is a comprehensive tool that provides an insightful and in-depth assessment of the current state of vendors in the Theranostics Market. By meticulously comparing and analyzing vendor contributions, companies are offered a greater understanding of their performance and the challenges they face when competing for market share. These contributions include overall revenue, customer base, and other vital metrics. Additionally, this analysis provides valuable insights into the competitive nature of the sector, including factors such as accumulation, fragmentation dominance, and amalgamation traits observed over the base year period studied. With these illustrative details, vendors can make more informed decisions and devise effective strategies to gain a competitive edge in the market.

Recent Developments

Clarity's Theranostic Prostate Cancer Trial Progresses at the Highest Dose Level Cohort

Clarity Pharmaceuticals announced the positive progression of its phase I/IIa SECuRE trial, evaluating the novel theranostic agent 64Cu/67Cu-SAR-bisPSMA in metastatic castration-resistant prostate cancer (mCRPC) patients. In the latest update, the trial's cohort 3, operating under a 3+3 study design, treated three participants with the highest dose of 12GBq of 67Cu-SAR-bisPSMA, demonstrating promising safety and efficacy outcomes. This advancement, along with continued positive outcomes, particularly under the FDA's Expanded Access Program (EAP), underscores SAR-bisPSMA's promise to improve treatment outcomes for prostate cancer patients. [Published On: 2023-11-29]

BAMF Health and GE HealthCare Collaborate to Enable Sustainable and Scalable Solutions for Growth in Theranostics

GE Healthcare and BAMF Health have collaborated to accelerate the adoption of theranostic solutions across the U.S., emphasizing the importance of innovative technologies and services to enhance patient care. By integrating GE HealthCare's comprehensive solutions and BAMF Health's expertise in molecular imaging and theranostics, this partnership is poised to establish a robust framework for the deployment of precision medicine. [Published On: 2023-11-13]

UCLA Health to Open Theranostics Center

UCLA Health is gearing up to launch its pioneering outpatient theranostics center later this year, marking a significant milestone in the treatment of advanced cancer. This state-of-the-art 3,000-square-foot facility situated on the Westwood campus's 100 Medical Plaza building is designed to optimize patient care. With eight infusion chairs, the center aims to deliver up to 80 transfusions weekly, amounting to 4,000 treatment cycles annually, primarily focusing on patients with advanced prostate cancer, neuroendocrine tumors, and thyroid cancer. [Published On: 2023-05-22]

Strategy Analysis & Recommendation

The strategic analysis is essential for organizations seeking a solid foothold in the global marketplace. Companies are better positioned to make informed decisions that align with their long-term aspirations by thoroughly evaluating their current standing in the Theranostics Market. This critical assessment involves a thorough analysis of the organization's resources, capabilities, and overall performance to identify its core strengths and areas for improvement.

Key Company Profiles

The report delves into recent significant developments in the Theranostics Market, highlighting leading vendors and their innovative profiles. These include Actinium Pharmaceuticals, Inc., Ariceum Therapeutics GmbH, Astellas Pharma Inc., BAMF Health, Bayer AG, bioMerieux SA, Biosynth Ltd., Cardinal Health, Inc., Cerebral Therapeutics, Inc., Clarity Pharmaceuticals, Curasight A/S, Curium Inc., Evergreen Theragnostics, Inc., GE HealthCare Technologies, Inc., Hermes Medical Solutions AB, Icon Group, Indi Molecular, Inc., Integrated Clinical Oncology Network Pty Ltd., Invicro, LLC, Ipsen Pharma, Radiopharm Theranostics Limited, Ratio Therapeutics, Siemens Healthineers AG, SOFIE Co., Telix Pharmaceuticals Limited, and United Theranostics.

Market Segmentation & Coverage

This research report categorizes the Theranostics Market to forecast the revenues and analyze trends in each of the following sub-markets:

Product
- Product
  - Diagnostic Imaging
    - Functional Imaging
    - Molecular Imaging
    - Nuclear Imaging

In Vitro Diagnostics/Biomarker Screening
- Fluorescence In Situ Hybridization
- Next-generation Sequencing
- Polymerase Chain Reaction

Radiopharmaceuticals
- Fluorine-18
- Gallium-68
- lodine-131
- Lutetium-177
- Radium-223
- Samarium-153
- Strontium-89
- Technetium-99
- Yttrium-90

Services
Software
- Imaging Analytics
- Predictive Modeling

Application
- Bone Metastatis
- Cardiovascular Diseases
- Lymphoma
- Neuroendocrine Tumors
- Prostate Cancer

End-User
- Cancer Care Centers
- Hospitals
- Research & Academic Centers
- Theranostics Centers

Region
- Americas
  - Argentina
  - Brazil
  - Canada
  - Mexico
  - United States
    - California
    - Florida
    - Illinois
    - New York
    - Ohio
    - Pennsylvania
    - Texas
- Asia-Pacific
  - Australia
  - China
  - India
  - Indonesia
  - Japan
  - Malaysia
  - Philippines
  - Singapore
  - South Korea
  - Taiwan
  - Thailand
  - Vietnam

Europe, Middle East & Africa
- Denmark
- Egypt
- Finland
- France
- Germany
- Israel
- Italy
- Netherlands
- Nigeria
- Norway
- Poland
- Qatar
- Russia
- Saudi Arabia
- South Africa
- Spain
- Sweden
- Switzerland
- Turkey
- United Arab Emirates
- United Kingdom

Product Code: MRR-61081604A0A5

1. Preface

1.1. Objectives of the Study
1.2. Market Segmentation & Coverage
1.3. Years Considered for the Study
1.4. Currency & Pricing
1.5. Language
1.6. Stakeholders

2. Research Methodology

2.1. Define: Research Objective
2.2. Determine: Research Design
2.3. Prepare: Research Instrument
2.4. Collect: Data Source
2.5. Analyze: Data Interpretation
2.6. Formulate: Data Verification
2.7. Publish: Research Report
2.8. Repeat: Report Update

3. Executive Summary

4. Market Overview

5. Market Insights

5.1. Market Dynamics
- 5.1.1. Drivers
  - 5.1.1.1. Growing prevalence of target diseases globally
  - 5.1.1.2. Rising advancements in personalized medicine and molecular biology
- 5.1.2. Restraints
  - 5.1.2.1. High costs associated with R&D and the complexity of regulatory approvals
- 5.1.3. Opportunities
  - 5.1.3.1. Increasing integration of data analytics and machine learning in theranostics
  - 5.1.3.2. Growing development of novel biomarkers and non-invasive imaging techniques
- 5.1.4. Challenges
  - 5.1.4.1. Data privacy and the ethical considerations of personalized medicine
5.2. Market Segmentation Analysis
- 5.2.1. Product: Rising usage of software for data acquisition, processing, and analysis
- 5.2.2. End-User: Growing potential of theranostics among hospitals for the management of a variety of diseases
5.3. Market Disruption Analysis
5.4. Porter's Five Forces Analysis
- 5.4.1. Threat of New Entrants
- 5.4.2. Threat of Substitutes
- 5.4.3. Bargaining Power of Customers
- 5.4.4. Bargaining Power of Suppliers
- 5.4.5. Industry Rivalry
5.5. Value Chain & Critical Path Analysis
5.6. Pricing Analysis
5.7. Technology Analysis
5.8. Patent Analysis
5.9. Trade Analysis
5.10. Regulatory Framework Analysis

6. Theranostics Market, by Product

6.1. Introduction
6.2. Product
6.3. Services
6.4. Software

7. Theranostics Market, by Application

7.1. Introduction
7.2. Bone Metastatis
7.3. Cardiovascular Diseases
7.4. Lymphoma
7.5. Neuroendocrine Tumors
7.6. Prostate Cancer

8. Theranostics Market, by End-User

8.1. Introduction
8.2. Cancer Care Centers
8.3. Hospitals
8.4. Research & Academic Centers
8.5. Theranostics Centers

9. Americas Theranostics Market

9.1. Introduction
9.2. Argentina
9.3. Brazil
9.4. Canada
9.5. Mexico
9.6. United States

10. Asia-Pacific Theranostics Market

10.1. Introduction
10.2. Australia
10.3. China
10.4. India
10.5. Indonesia
10.6. Japan
10.7. Malaysia
10.8. Philippines
10.9. Singapore
10.10. South Korea
10.11. Taiwan
10.12. Thailand
10.13. Vietnam

11. Europe, Middle East & Africa Theranostics Market

11.1. Introduction
11.2. Denmark
11.3. Egypt
11.4. Finland
11.5. France
11.6. Germany
11.7. Israel
11.8. Italy
11.9. Netherlands
11.10. Nigeria
11.11. Norway
11.12. Poland
11.13. Qatar
11.14. Russia
11.15. Saudi Arabia
11.16. South Africa
11.17. Spain
11.18. Sweden
11.19. Switzerland
11.20. Turkey
11.21. United Arab Emirates
11.22. United Kingdom

12. Competitive Landscape

12.1. Market Share Analysis, 2023
12.2. FPNV Positioning Matrix, 2023
12.3. Competitive Scenario Analysis
- 12.3.1. Clarity's Theranostic Prostate Cancer Trial Progresses at the Highest Dose Level Cohort
- 12.3.2. BAMF Health and GE HealthCare Collaborate to Enable Sustainable and Scalable Solutions for Growth in Theranostics
- 12.3.3. UCLA Health to Open Theranostics Center
12.4. Strategy Analysis & Recommendation

13. Competitive Portfolio

13.1. Key Company Profiles
13.2. Key Product Portfolio