Radiopharmaceutical Theranostics Market Valuation Expected To Reach $5.76 Billion By 2029, Growing At A Rate Of 15.2%
Discover trends, market shifts, and competitive outlooks for the radiopharmaceutical theranostics industry through 2025-2034 with The Business Research Company’s reliable data and in-depth research
What Is the Current and Projected Market Size of the Radiopharmaceutical Theranostics Market Through 2034?
The market size of radiopharmaceutical theranostics has seen a significant expansion in the last few years. The expected progression is from $2.88 billion in 2024 to $3.27 billion in 2025, demonstrating a compound annual growth rate (CAGR) of 13.7%. The historic period’s growth is due to factors such as developments in radiopharmaceuticals, advancements in clinical research, research investments, regulatory approvals, and progress in nuclear medicine.
Accelerated expansion is anticipated in the radiopharmaceutical theranostics market in the coming years. By the year 2029, the market is projected to reach $5.76 billion, growing at a compound annual growth rate (CAGR) of 15.2%. Factors contributing to this growth during the forecast period include discoveries and validation in biomarkers, advancements in genomic and proteomic technologies, development of precision radiotherapy, interdisciplinary collaborations, along with patient advocacy and support. The forecast period is also expected to see significant trends including ethical and legal factors, the incorporation of telemedicine in theranostics, patient-focused care, customization in radiopharmaceuticals, and the development of nano-theranostics.
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Which Factors and External Forces Are Driving Demand in the Radiopharmaceutical Theranostics Market?
The anticipated growth of the radiopharmaceutical theranostics market is due to the increasing occurrence of cancer. The disease, which is marked by a abnormal proliferation of cells spreading to other body parts, can be targeted and personalized through the use of radiopharmaceutical theranostics. For example, as projected by the American Cancer Society in 2023, the United States may see an estimated 1.9 million new cases of cancer, with around 609,820 resulting fatalities. Furthermore, it is expected that 88% of these diagnoses will be in people aged 50 and over. Consequently, the upsurge in cancer instances is a key driver for the expansion of the radiopharmaceutical theranostics market.
Which Segments in the Radiopharmaceutical Theranostics Offer the Most Growth?
The radiopharmaceutical theranostics market covered in this report is segmented –
1) By Product Type: Alpha Emitters, Beta Emitters, Positron Emission Tomography (PET) Tracers
2) By Source: Nuclear Reactors, Cyclotrons
3) By Radioisotope: Technetium-99, Gallium-68, Iodine-131, Iodine-123, 18F, Y-90, Lutetium (Lu) 177, Copper (Cu) 67, Copper (Cu) 64, Other Radioscopes
4) By Indication: Oncology, Cardiology, Neurology, Other Indications
5) By End User: Hospitals, Diagnostic Imaging Centers, Academic And Research Institutes, Other End Users
Subsegments:
1) By Alpha Emitters: Actinium-225, Radium-223, Bismuth-213, Other Alpha-Emitting Radiopharmaceuticals
2) By Beta Emitters: Iodine-131, Lutetium-177, Yttrium-90, Other Beta-Emitting Radiopharmaceuticals
3) By Positron Emission Tomography (PET) Tracers: Fluorodeoxyglucose (FDG), Gallium-68, Carbon-11, Other PET Tracers
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What Are the Fastest-Growing Geographies in the #Which Factors and External Forces Are Driving Demand in the Radiopharmaceutical Theranostics Market?# Market?
North America was the largest region in the radiopharmaceutical theranostics market in 2024. The regions covered in the radiopharmaceutical theranostics market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Which Cutting-Edge Market Trends Are Expected to Drive theRadiopharmaceutical Theranostics Market’s Growth?
In the radiopharmaceutical theranostics market, primary businesses are embracing strategies of partnership to cultivate innovative treatments. These collaborations offer numerous benefits such as pooling resources and knowledge, bolstering research and development capabilities, broadening market penetration, and speeding up commercialization, all of which contribute to fueling innovation and expansion within the industry. For example, in March 2023, the biotech firm in Australia, Radiopharm Theranostics formed a collaboration with the U.S.-based Pharma15 Corporation. Their combined efforts are concentrated on creating a new generation of therapeutic radiopharmaceuticals that are aimed at prostate cancer and particularly committed to overcoming the obstacles to current PSMA-targeted treatments, while also increasing selectivity to reduce damage to healthy tissues.
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What Are the Key Elements That Define the Radiopharmaceutical Theranostics Market?
Radiopharmaceutical theranostics refers to a combined approach in medicine that combines therapeutics (treatment) and diagnostics (diagnosis) using radiopharmaceuticals. These are used for patient diagnosis, therapy, and personalized management.
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