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What fueled the previous growth in the theranostics market?

In the past few years, there has been a significant expansion in the size of the theranostics market. It’s projected to increase from $111.1 billion in 2024 to $123.33 billion in 2025, exhibiting a compound annual growth rate (CAGR) of 11.0%. The substantial growth during the historical period is due to advancements in molecular imaging, transition to value-based healthcare, and the integration of oncology.

What will be the theranostics market size in the future?

Rapid expansion is predicted for the theranostics market in the coming years, with its size anticipated to reach $185.73 billion in 2029, growing at a compound annual growth rate (CAGR) of 10.8%. The growth over the forecast duration can be linked to growing precision medicine initiatives, the expansion of applications beyond oncology, increases in aging populations and chronic diseases, advances in biomarker discovery, along with government backing and funding. Major trends throughout the forecast period encompass regulatory support, the rise of companion diagnostics, a heightened focus on cancer theranostics, as well as patient engagement, awareness, and technological convergence.

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What main drivers are fueling expansion in the theranostics market?

The surge in cancer incidences is predicted to fuel the expansion of the theranostics market moving ahead. Cancer is the uncontrolled proliferation of cells that affects various body organs and results in substantial morbidity and mortality worldwide. Theranostics is a synthesis of treatment and diagnostics, offering a highly promising potential in controlling cancer and other chronic diseases. This method facilitates individualized and targeted therapies by fusing diagnostic and therapeutic potentials, offering innovative possibilities in the medical sector. Consequently, the increasing cancer patient count is expected to stimulate the growth of the theranostics market. For example, the National Cancer Institute (NCI), a U.S. governmental agency under the National Institutes of Health (NIH) that focuses on cancer research, prevention, and treatment, stated in January 2022 that about 5.4% of the population, or 18.1 million people in the United States, had survived cancer. Furthermore, in 2022, 623,405 people were living with metastasized cancers such as breast, prostate, lung, colorectal, or bladder cancer, or metastatic melanoma, a figure expected to increase to 693,452 by 2025. As a result, the theranostics market is being spurred by the growing prevalence of cancer.

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

The theranostics market covered in this report is segmented –

1) By Disease Type: Neurological Disorders, Cardiovascular Diseases, Immunological Disorders, Oncology Diseases, Other Diseases

2) By Technology: Polymerase Chain Reaction, Immunohistochemistry, In-Situ Hybridization, Sequencing, Other Technologies

3) By End User: Hospitals And Clinics, Diagnostic Laboratories, Other End Users

Subsegments:

1) By Neurological Disorders: Alzheimer’s Disease, Parkinson’s Disease, Multiple Sclerosis, Epilepsy, Other Neurological Disorders

2) By Cardiovascular Diseases: Coronary Artery Disease, Heart Failure, Atrial Fibrillation, Hypertension, Other Cardiovascular Diseases

3) By Immunological Disorders: Rheumatoid Arthritis, Systemic Lupus Erythematosus, Inflammatory Bowel Disease, Psoriasis, Other Immunological Disorders

4) By Oncology Diseases: Breast Cancer, Lung Cancer, Colorectal Cancer, Prostate Cancer, Other Oncology Diseases

5) By Other Diseases: Infectious Diseases, Metabolic Disorders, Genetic Disorders, Other Diseases

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

Major companies operating in the theranostics market include Abbott Laboratories, Agilent Technologies Inc., AmeriPath Inc, Beckman Coulter Inc., Thermo Fisher Scientific Inc, Astellas Pharma, Helmholtz Centre for Infection Research, Radiopharm Theranostics Ltd, Alpha- Theranostics, UNIVERZITET U NOVOM SADU, Cardio-Theranostics LLC, Curium, SoFi Technologies Inc., Theradiag, Cell Theranostics, F. Hoffmann-La Roche AG, GE HealthCare Technologies Inc, Qiagen NV, Foundation Medicine Inc, Leica Biosystems Nussloch GmBH, Pfizer Inc., Siemens Healthineers, Advanced Accelerator Applications, AstraZeneca plc, Bayer AG, Bio-Rad Laboratories, The Bristol-Myers Squibb Company, Danaher Corporation, MilliporeSigma, Illumina Inc., Merck KGaA, Roche Diagnostics Corporation, PerkinElmer Inc.

How are evolving market trends shaping theranostics Strategies?

Significant players in the theranostics market are concentrating on creating advanced technological solutions like theranostics clinical trials, aiming to augment personalized medicine and boost patient outcomes by converging diagnostics and therapeutic procedures into a unified treatment plan. Theranostics clinical trials signifies research studies assessing the dual utility of diagnostic assessments and targeted therapies to individualize treatment strategies for patients. The objective of these trials is to validate the efficacy of distinct treatments based on patient-specific biomarkers, thus promoting personalized medicine. For example, in May 2024, BAMF Health, an American cancer treatment center, kicked off the COMBAT Trial, officially termed “A Phase I/II Theranostic Study of 64Cu-SAR-BBN and 67Cu-SAR-BBN for Identification and Treatment of GRPR-expressing Metastatic Castrate Resistant Prostate Cancer in Patients Who Are Ineligible for Therapy With 177Lu-PSMA-617” (NCT05633160). Major attributes encompass a swift activation process via BAMF Health’s BAMF RapAct platform that facilitated the trial to initiate in merely seven weeks, and emphasises on utilizing pioneering radiopharmaceuticals targeting the Gastrin-Releasing Peptide receptor (GRPR), intending to augment treatment alternatives for patients with meager therapeutic possibilities.

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Which regions are emerging as leaders in the theranostics market?

North America was the largest region in the global theranostics market in 2024.Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the theranostics market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

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