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What fueled the previous growth in the radiotheranostics market?

The size of the radiotheranostics market has experienced a swift expansion in the last few years. It is projected to increase from $8.79 billion in 2024 to $10.07 billion in 2025, displaying a compound annual growth rate (CAGR) of 14.6%. The surge during the historic period is due to factors such as progress in nuclear medicine, an escalation in cancer diagnoses, the evolution of personalized medicine, improvements in radiopharmaceuticals, as well as regulatory approvals and standards.

What will be the radiotheranostics market size in the future?

Anticipated to surge quickly in the coming years, the radiotheranostics market size is projected to reach $16.94 billion by 2029, growing at a compound annual growth rate (CAGR) of 13.9%. This expansion during the forecast period can be associated with the progression of targeted cancer treatments, augmentation of oncology research, increased number of chronic diseases, and the development of theranostic applications. Key trends in this phase are expected to encompass the growth of theranostic radiopharmaceuticals, broadening of applications beyond the oncology field, personalization of radiopharmaceuticals, the application of nanotechnology in radiotheranostics, alongside regulatory changes and standardization.

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What main drivers are fueling expansion in the radiotheranostics market?

The escalating occurrence of cancer is projected to stimulate the expansion of the radiotheranostics market in the near future. Cancer, a disease marked by the uncontrolled and invasive growth of certain cells, frequently brings radiotheranostics medications into practice. These provide a sophisticated approach to personalized medicine through the use of paired diagnostic and radiopharmaceutical probes. This method allows for the specific identification and treatment of certain cells, often cancerous ones, tailored to the patient’s unique circumstances to improve treatment effectiveness and optimum clinical outcomes. To illustrate, the American Cancer Society, an American nonprofit advocacy group for cancer, recorded a surge in the number of cancer cases to 2,001,140 in January 2024, a 2.19% increase from 1,958,310 in 2023. Consequently, the rising prevalence of cancer is fueling the growth of the radiotheranostics market.

What key areas define the segmentation of the global radiotheranostics market?

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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Who are the dominant players expanding their reach in the radiotheranostics market?

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.

How are evolving market trends shaping radiotheranostics Strategies?

The rise in product innovations is a prominent trend currently perceived in the radiotheranostics market. Major corporations are focusing on the development of novel products to solidify their market stand. For example, in May 2023, Advanced Cyclotron Systems Inc., a Canadian firm specializing in the supply and maintenance of cyclotrons primarily for medical isotopes production, unveiled the TR-ALPHA. This innovation was in response to market demand for an economically viable cyclotron capable of producing significant quantities of Astatine-211, a highly prospective alpha-emitting radioisotope for cancer treatment. The TR-ALPHA is considerably smaller, less expensive, and easier to operate than older cyclotron versions used for alpha-emitting radioisotopes creation. It is perfectly suited for hospitals, researchers, and institutions aiming to operate a dedicated cyclotron to effectively produce therapeutic alpha-emitting radioisotopes in large volumes.

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Which regions are emerging as leaders 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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