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Theranostics Market Size, Share & Trends Analysis Report By End User, By Product (Radiopharmaceuticals, Diagnostic Imaging, IVD/Biomarker Screening, and Software & Services), By Application, By Regional Outlook and Forecast, 2023 - 2030

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    Report

  • 239 Pages
  • March 2024
  • Region: Global
  • Marqual IT Solutions Pvt. Ltd (KBV Research)
  • ID: 5949633
The Global Theranostics Market size is expected to reach $5.4 billion by 2030, rising at a market growth of 15.2% CAGR during the forecast period.

North America boasts a well-developed healthcare infrastructure with modern hospitals, diagnostic centers, and research institutions with state-of-the-art medical technologies. Therefore, the North America region captured $782.9 million revenue in the market in 2022. The availability of advanced diagnostic imaging modalities, molecular diagnostic laboratories, and therapeutic facilities enables the adoption and integration of theranostic approaches into clinical practice.



Targeted therapies align with the principles of precision medicine, which emphasize the customization of healthcare interventions based on individual patient characteristics, including genetic makeup, biomarker expression profiles, and disease phenotypes. Targeting specific molecular alterations or disease pathways, targeted therapies offer personalized treatment strategies tailored to individual patient’s unique genetic and molecular profiles. Therefore, innovation in targeted therapies is propelling the growth of the market.

Additionally, radiopharmaceuticals possess dual capabilities for diagnostic imaging and targeted therapy, making them ideal candidates for theranostic applications. Radiopharmaceuticals can be labeled with radioactive isotopes that emit gamma rays for diagnostic imaging (e.g., positron emission tomography or single-photon emission computed tomography) and beta particles for therapeutic purposes (e.g., radioimmunotherapy or targeted radionuclide therapy). Hence, rapid growth in radiopharmaceuticals is driving the growth of the market.

However, theranostic approaches often involve integrating sophisticated technologies, including molecular diagnostics, imaging modalities, targeted therapies, and drug delivery systems. Developing and implementing these technologies require specialized expertise in multiple disciplines, such as biology, chemistry, physics, and engineering. Hence, technical complexity hampers the growth of the market.

During the initial stages of the pandemic, healthcare resources and priorities shifted towards managing and controlling the spread of COVID-19. This diversion of resources and focus away from non-urgent medical procedures, including diagnostic imaging and personalized medicine initiatives, temporarily slowed the adoption and implementation of theranostic technologies in clinical practice. Also, the COVID-19 pandemic disrupted global supply chains, affecting the availability and distribution of theranostic products, components, and raw materials. Therefore, the COVID-19 pandemic had a negative impact on the market.

By End User Analysis

Based on end user, the market is categorized into hospitals & cancer care centers, theranostics centers, and research & academic centers. In 2022, the hospitals & cancer care centers segment registered 50.3% revenue share in the market. Hospitals and cancer care centers serve as hubs for comprehensive healthcare services, offering various diagnostic, therapeutic, and supportive care options for patients with complex medical conditions like cancer.

By Product Analysis

Based on product, the market is divided into diagnostic imaging, radiopharmaceuticals, IVD/biomarker screening, and software & services. In 2022, the diagnostic imaging segment garnered 30.5% revenue share in the market. Diagnostic imaging provides valuable treatment planning and guidance information by visualizing disease extent, localization, and staging.



By Application Analysis

On the basis of application, the market is segmented into prostate cancer, bone metastasis, other cancers, and others. The prostate cancer segment recorded 38.1% revenue share in the market in 2022. Prostate cancer exhibits significant heterogeneity in terms of disease aggressiveness, treatment response, and patient outcomes. Theranostic approaches allow for personalizing treatment strategies based on individual patient characteristics and tumor biology.

By Regional Analysis

Region-wise, the market is analyzed across North America, Europe, Asia Pacific, and LAMEA. In 2022, the Asia Pacific region generated 23.0% revenue share in the market. The Asia Pacific region is experiencing a rising burden of chronic diseases, including cancer, cardiovascular diseases, and metabolic disorders, due to aging populations, urbanization, and changing lifestyles.

List of Key Companies Profiled

  • Bayer AG
  • GE HealthCare Technologies, Inc.
  • Siemens Healthineers AG (Siemens AG)
  • Cardinal Health, Inc.
  • Canon, Inc.
  • Clarity Pharmaceuticals Ltd
  • Koninklijke Philips N.V.
  • Thermo Fisher Scientific, Inc.
  • Telix Pharmaceuticals Limited
  • ABX advanced biochemical compounds GmbH

Market Report Segmentation

By End User
  • Hospitals & Cancer Care Centers
  • Theranostics Centers
  • Research & Academic Centers
By Product
  • Radiopharmaceuticals
  • Diagnostic Imaging
  • IVD/Biomarker Screening
  • Software & Services
By Application
  • Prostate Cancer
  • Bone Metastasis
  • Other Cancers
  • Others
By Geography
  • North America
  • US
  • Canada
  • Mexico
  • Rest of North America
  • Europe
  • Germany
  • UK
  • France
  • Russia
  • Spain
  • Italy
  • Rest of Europe
  • Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Singapore
  • Malaysia
  • Rest of Asia Pacific
  • LAMEA
  • Brazil
  • Argentina
  • UAE
  • Saudi Arabia
  • South Africa
  • Nigeria
  • Rest of LAMEA

Table of Contents

Chapter 1. Market Scope & Methodology
1.1 Market Definition
1.2 Objectives
1.3 Market Scope
1.4 Segmentation
1.4.1 Global Theranostics Market, by End User
1.4.2 Global Theranostics Market, by Product
1.4.3 Global Theranostics Market, by Application
1.4.4 Global Theranostics Market, by Geography
1.5 Methodology for the research
Chapter 2. Market at a Glance
2.1 Key Highlights
Chapter 3. Market Overview
3.1 Introduction
3.1.1 Overview
3.1.1.1 Market Composition and Scenario
3.2 Key Factors Impacting the Market
3.2.1 Market Drivers
3.2.2 Market Restraints
3.2.3 Market Opportunities
3.2.4 Market Challenges
3.3 Porter’s Five Forces Analysis
Chapter 4. Global Theranostics Market by End User
4.1 Global Hospitals & Cancer Care Centers Market by Region
4.2 Global Theranostics Centers Market by Region
4.3 Global Research & Academic Centers Market by Region
Chapter 5. Global Theranostics Market by Product
5.1 Global Radiopharmaceuticals Market by Region
5.2 Global Diagnostic Imaging Market by Region
5.3 Global IVD/Biomarker Screening Market by Region
5.4 Global Software & Services Market by Region
Chapter 6. Global Theranostics Market by Application
6.1 Global Prostate Cancer Market by Region
6.2 Global Bone Metastasis Market by Region
6.3 Global Other Cancers Market by Region
6.4 Global Others Market by Region
Chapter 7. Global Theranostics Market by Region
7.1 North America Theranostics Market
7.1.1 North America Theranostics Market by End User
7.1.1.1 North America Hospitals & Cancer Care Centers Market by Country
7.1.1.2 North America Theranostics Centers Market by Country
7.1.1.3 North America Research & Academic Centers Market by Country
7.1.2 North America Theranostics Market by Product
7.1.2.1 North America Radiopharmaceuticals Market by Country
7.1.2.2 North America Diagnostic Imaging Market by Country
7.1.2.3 North America IVD/Biomarker Screening Market by Country
7.1.2.4 North America Software & Services Market by Country
7.1.3 North America Theranostics Market by Application
7.1.3.1 North America Prostate Cancer Market by Country
7.1.3.2 North America Bone Metastasis Market by Country
7.1.3.3 North America Other Cancers Market by Country
7.1.3.4 North America Others Market by Country
7.1.4 North America Theranostics Market by Country
7.1.4.1 US Theranostics Market
7.1.4.1.1 US Theranostics Market by End User
7.1.4.1.2 US Theranostics Market by Product
7.1.4.1.3 US Theranostics Market by Application
7.1.4.2 Canada Theranostics Market
7.1.4.2.1 Canada Theranostics Market by End User
7.1.4.2.2 Canada Theranostics Market by Product
7.1.4.2.3 Canada Theranostics Market by Application
7.1.4.3 Mexico Theranostics Market
7.1.4.3.1 Mexico Theranostics Market by End User
7.1.4.3.2 Mexico Theranostics Market by Product
7.1.4.3.3 Mexico Theranostics Market by Application
7.1.4.4 Rest of North America Theranostics Market
7.1.4.4.1 Rest of North America Theranostics Market by End User
7.1.4.4.2 Rest of North America Theranostics Market by Product
7.1.4.4.3 Rest of North America Theranostics Market by Application
7.2 Europe Theranostics Market
7.2.1 Europe Theranostics Market by End User
7.2.1.1 Europe Hospitals & Cancer Care Centers Market by Country
7.2.1.2 Europe Theranostics Centers Market by Country
7.2.1.3 Europe Research & Academic Centers Market by Country
7.2.2 Europe Theranostics Market by Product
7.2.2.1 Europe Radiopharmaceuticals Market by Country
7.2.2.2 Europe Diagnostic Imaging Market by Country
7.2.2.3 Europe IVD/Biomarker Screening Market by Country
7.2.2.4 Europe Software & Services Market by Country
7.2.3 Europe Theranostics Market by Application
7.2.3.1 Europe Prostate Cancer Market by Country
7.2.3.2 Europe Bone Metastasis Market by Country
7.2.3.3 Europe Other Cancers Market by Country
7.2.3.4 Europe Others Market by Country
7.2.4 Europe Theranostics Market by Country
7.2.4.1 Germany Theranostics Market
7.2.4.1.1 Germany Theranostics Market by End User
7.2.4.1.2 Germany Theranostics Market by Product
7.2.4.1.3 Germany Theranostics Market by Application
7.2.4.2 UK Theranostics Market
7.2.4.2.1 UK Theranostics Market by End User
7.2.4.2.2 UK Theranostics Market by Product
7.2.4.2.3 UK Theranostics Market by Application
7.2.4.3 France Theranostics Market
7.2.4.3.1 France Theranostics Market by End User
7.2.4.3.2 France Theranostics Market by Product
7.2.4.3.3 France Theranostics Market by Application
7.2.4.4 Russia Theranostics Market
7.2.4.4.1 Russia Theranostics Market by End User
7.2.4.4.2 Russia Theranostics Market by Product
7.2.4.4.3 Russia Theranostics Market by Application
7.2.4.5 Spain Theranostics Market
7.2.4.5.1 Spain Theranostics Market by End User
7.2.4.5.2 Spain Theranostics Market by Product
7.2.4.5.3 Spain Theranostics Market by Application
7.2.4.6 Italy Theranostics Market
7.2.4.6.1 Italy Theranostics Market by End User
7.2.4.6.2 Italy Theranostics Market by Product
7.2.4.6.3 Italy Theranostics Market by Application
7.2.4.7 Rest of Europe Theranostics Market
7.2.4.7.1 Rest of Europe Theranostics Market by End User
7.2.4.7.2 Rest of Europe Theranostics Market by Product
7.2.4.7.3 Rest of Europe Theranostics Market by Application
7.3 Asia Pacific Theranostics Market
7.3.1 Asia Pacific Theranostics Market by End User
7.3.1.1 Asia Pacific Hospitals & Cancer Care Centers Market by Country
7.3.1.2 Asia Pacific Theranostics Centers Market by Country
7.3.1.3 Asia Pacific Research & Academic Centers Market by Country
7.3.2 Asia Pacific Theranostics Market by Product
7.3.2.1 Asia Pacific Radiopharmaceuticals Market by Country
7.3.2.2 Asia Pacific Diagnostic Imaging Market by Country
7.3.2.3 Asia Pacific IVD/Biomarker Screening Market by Country
7.3.2.4 Asia Pacific Software & Services Market by Country
7.3.3 Asia Pacific Theranostics Market by Application
7.3.3.1 Asia Pacific Prostate Cancer Market by Country
7.3.3.2 Asia Pacific Bone Metastasis Market by Country
7.3.3.3 Asia Pacific Other Cancers Market by Country
7.3.3.4 Asia Pacific Others Market by Country
7.3.4 Asia Pacific Theranostics Market by Country
7.3.4.1 China Theranostics Market
7.3.4.1.1 China Theranostics Market by End User
7.3.4.1.2 China Theranostics Market by Product
7.3.4.1.3 China Theranostics Market by Application
7.3.4.2 Japan Theranostics Market
7.3.4.2.1 Japan Theranostics Market by End User
7.3.4.2.2 Japan Theranostics Market by Product
7.3.4.2.3 Japan Theranostics Market by Application
7.3.4.3 India Theranostics Market
7.3.4.3.1 India Theranostics Market by End User
7.3.4.3.2 India Theranostics Market by Product
7.3.4.3.3 India Theranostics Market by Application
7.3.4.4 South Korea Theranostics Market
7.3.4.4.1 South Korea Theranostics Market by End User
7.3.4.4.2 South Korea Theranostics Market by Product
7.3.4.4.3 South Korea Theranostics Market by Application
7.3.4.5 Singapore Theranostics Market
7.3.4.5.1 Singapore Theranostics Market by End User
7.3.4.5.2 Singapore Theranostics Market by Product
7.3.4.5.3 Singapore Theranostics Market by Application
7.3.4.6 Malaysia Theranostics Market
7.3.4.6.1 Malaysia Theranostics Market by End User
7.3.4.6.2 Malaysia Theranostics Market by Product
7.3.4.6.3 Malaysia Theranostics Market by Application
7.3.4.7 Rest of Asia Pacific Theranostics Market
7.3.4.7.1 Rest of Asia Pacific Theranostics Market by End User
7.3.4.7.2 Rest of Asia Pacific Theranostics Market by Product
7.3.4.7.3 Rest of Asia Pacific Theranostics Market by Application
7.4 LAMEA Theranostics Market
7.4.1 LAMEA Theranostics Market by End User
7.4.1.1 LAMEA Hospitals & Cancer Care Centers Market by Country
7.4.1.2 LAMEA Theranostics Centers Market by Country
7.4.1.3 LAMEA Research & Academic Centers Market by Country
7.4.2 LAMEA Theranostics Market by Product
7.4.2.1 LAMEA Radiopharmaceuticals Market by Country
7.4.2.2 LAMEA Diagnostic Imaging Market by Country
7.4.2.3 LAMEA IVD/Biomarker Screening Market by Country
7.4.2.4 LAMEA Software & Services Market by Country
7.4.3 LAMEA Theranostics Market by Application
7.4.3.1 LAMEA Prostate Cancer Market by Country
7.4.3.2 LAMEA Bone Metastasis Market by Country
7.4.3.3 LAMEA Other Cancers Market by Country
7.4.3.4 LAMEA Others Market by Country
7.4.4 LAMEA Theranostics Market by Country
7.4.4.1 Brazil Theranostics Market
7.4.4.1.1 Brazil Theranostics Market by End User
7.4.4.1.2 Brazil Theranostics Market by Product
7.4.4.1.3 Brazil Theranostics Market by Application
7.4.4.2 Argentina Theranostics Market
7.4.4.2.1 Argentina Theranostics Market by End User
7.4.4.2.2 Argentina Theranostics Market by Product
7.4.4.2.3 Argentina Theranostics Market by Application
7.4.4.3 UAE Theranostics Market
7.4.4.3.1 UAE Theranostics Market by End User
7.4.4.3.2 UAE Theranostics Market by Product
7.4.4.3.3 UAE Theranostics Market by Application
7.4.4.4 Saudi Arabia Theranostics Market
7.4.4.4.1 Saudi Arabia Theranostics Market by End User
7.4.4.4.2 Saudi Arabia Theranostics Market by Product
7.4.4.4.3 Saudi Arabia Theranostics Market by Application
7.4.4.5 South Africa Theranostics Market
7.4.4.5.1 South Africa Theranostics Market by End User
7.4.4.5.2 South Africa Theranostics Market by Product
7.4.4.5.3 South Africa Theranostics Market by Application
7.4.4.6 Nigeria Theranostics Market
7.4.4.6.1 Nigeria Theranostics Market by End User
7.4.4.6.2 Nigeria Theranostics Market by Product
7.4.4.6.3 Nigeria Theranostics Market by Application
7.4.4.7 Rest of LAMEA Theranostics Market
7.4.4.7.1 Rest of LAMEA Theranostics Market by End User
7.4.4.7.2 Rest of LAMEA Theranostics Market by Product
7.4.4.7.3 Rest of LAMEA Theranostics Market by Application
Chapter 8. Company Profiles
8.1 Bayer AG
8.1.1 Company Overview
8.1.2 Financial Analysis
8.1.3 Segmental and Regional Analysis
8.1.4 Research & Development Expense
8.1.5 Recent strategies and developments:
8.1.5.1 Acquisition and Mergers:
8.1.6 SWOT Analysis
8.2 GE HealthCare Technologies, Inc.
8.2.1 Company Overview
8.2.2 Financial Analysis
8.2.3 Segmental and Regional Analysis
8.2.4 Research & Development Expenses
8.2.5 Recent strategies and developments:
8.2.5.1 Partnerships, Collaborations, and Agreements:
8.2.6 SWOT Analysis
8.3 Siemens Healthineers AG (Siemens AG)
8.3.1 Company Overview
8.3.2 Financial Analysis
8.3.3 Segmental and Regional Analysis
8.3.4 Research & Development Expense
8.3.5 Recent strategies and developments:
8.3.5.1 Product Launches and Product Expansions:
8.3.6 SWOT Analysis
8.4 Cardinal Health, Inc.
8.4.1 Company Overview
8.4.2 Financial Analysis
8.4.3 Segmental and Regional Analysis
8.4.4 SWOT Analysis
8.5 Canon, Inc.
8.5.1 Company Overview
8.5.2 Financial Analysis
8.5.3 Segmental and Regional Analysis
8.5.4 Research & Development Expenses
8.5.5 SWOT Analysis
8.6 Clarity Pharmaceuticals Ltd
8.6.1 Company Overview
8.6.2 Financial Analysis
8.6.3 Research & Development Expenses
8.6.4 SWOT Analysis
8.7 Koninklijke Philips N.V.
8.7.1 Company Overview
8.7.2 Financial Analysis
8.7.3 Segmental and Regional Analysis
8.7.4 Research & Development Expense
8.7.5 SWOT Analysis
8.8 Thermo Fisher Scientific, Inc.
8.8.1 Company Overview
8.8.2 Financial Analysis
8.8.3 Segmental and Regional Analysis
8.8.4 Research & Development Expenses
8.8.5 SWOT Analysis
8.9 Telix Pharmaceuticals Limited
8.9.1 Company Overview
8.9.2 Financial Analysis
8.9.3 Segmental and Regional Analysis
8.9.4 Research & Development Expenses
8.9.5 SWOT Analysis
8.10. ABX advanced biochemical compounds GmbH
8.10.1 Company Overview
8.10.2 SWOT Analysis
Chapter 9. Winning Imperatives of Theranostics Market

Companies Mentioned

  • Bayer AG
  • GE HealthCare Technologies, Inc.
  • Siemens Healthineers AG (Siemens AG)
  • Cardinal Health, Inc.
  • Canon, Inc.
  • Clarity Pharmaceuticals Ltd
  • Koninklijke Philips N.V.
  • Thermo Fisher Scientific, Inc.
  • Telix Pharmaceuticals Limited
  • ABX advanced biochemical compounds GmbH

Methodology

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