Home > Healthcare > Medical Devices > Diagnostic Devices > Theranostics Market

Theranostics Market Trends

Report ID: GMI8468
Published Date: Mar 2024
Report Format: PDF

Download Free Sample

Theranostics Market Trends

Technological advancements in theranostics have revolutionized disease management by integrating diagnostic and therapeutic capabilities. These innovations enable early disease detection, prediction of treatment responses, and precise delivery of therapies.

Advanced imaging modalities such as positron emission tomography (PET), which estimated to reach 3 billion by 2032, single-photon emission computed tomography (SPECT), and magnetic resonance imaging (MRI) have been refined to provide high-resolution images of cellular and molecular processes.
Further, progress in genomics, proteomics, and metabolomics has facilitated the discovery and validation of disease-specific biomarkers, such as cancer biomarkers, cardiac biomarkers. These biomarkers play a crucial role in early disease detection, patient stratification, and monitoring therapeutic efficacy.
Moreover, novel radiopharmaceuticals for targeted radionuclide therapy offer expanded treatment options for cancer and other diseases. These therapeutic agents deliver radiation selectively to tumor cells, sparing healthy tissue and minimizing side effects, thus enhancing treatment efficacy.
Thus, such aforementioned factors are expected to boost the market growth.

Authors: Mariam Faizullabhoy, Gauri Wani

Frequently Asked Questions (FAQ) :

Market size for theranostics was USD 2.2 billion in 2023 and is expected to register 13.6% CAGR from 2024-2032 owing to the increasing prevalence of targeted diseases such cancer, cardiovascular diseases, and autoimmune diseases worldwide.

Theranostics industry from the diagnostic imaging segment reached USD 743 million in 2023 and is expected to register an appreciable CAGR from 2024-2032 due to its ability to detect diseases at early stages when treatment is most effective.

North America industry for theranostics recorded USD 877.3 million in 2023 and is expected to register a commendable CAGR from 2024- 2032 due to the presence of advanced technological landscapes that foster the development of innovative theranostics in the region.

Canon Medical Systems Corporation, Curium, F. Hoffmann La Roche Ltd., GE HealthCare Technologies Inc., Koninklijke Philips N.V., Lantheus Holdings, Inc., Siemens Healthnieers AG , and Thermo Fisher Scientific Inc., are some of the major theranostics companies worldwide.