Overview and Scope
Radiotheranostics refers to diagnoses and treatments that utilize imaging methods with radioactive substances to pinpoint specific targets in the body. It is used to administer targeted radiation therapy to defined locations, allowing for precise and tailored cancer treatment while minimizing harm to healthy tissues to enhance treatment results and patient care.
Sizing and Forecast
The radiotheranostics market size has grown rapidly in recent years. It will grow from $7.57 billion in 2023 to $8.74 billion in 2024 at a compound annual growth rate (CAGR) of 15.3%. The growth in the historic period can be attributed to advancements in nuclear medicine, rise in cancer cases, personalized medicine development, advances in radiopharmaceuticals, regulatory approvals and standards.
The radiotheranostics market size is expected to see rapid growth in the next few years. It will grow to $14.61 billion in 2028 at a compound annual growth rate (CAGR) of 13.7%. The growth in the forecast period can be attributed to advancements in targeted cancer therapies, expansion in oncology research, rise in chronic diseases, growth in theranostic applications. Major trends in the forecast period include theranostic radiopharmaceutical development, expanding applications beyond oncology, personalized radiopharmaceuticals, nanotechnology in radiotheranostics, regulatory shifts and standardization.
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Segmentation & Regional Insights
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
North America was the largest region in the radiotheranostics market in 2023. 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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Major Driver Impacting Market Growth
The increasing prevalence of cancer is expected to propel the growth of the radiotheranostics market going forward. Cancer is a condition in which some cells in the body develop uncontrollably and spread to other regions of the body. Radiotheranostics medicines are commonly employed in cancer to offer the ultimate notion of customized medicine by using paired diagnostic and therapeutic radionuclide probes for the selective and targeted detection and treatment of specific (typically cancer) cells, each of which is suited to the patient’s underlying condition to enhance treatment efficiency and better clinical output. For instance, according to Cancer Research UK, a UK-based cancer research organization, approximately 18 million new cancer cases were detected in 2020. Further, there would be 28 million new cancer cases globally each year by 2040, a 54.9% increase over 2020, and is predicted to be more prominent in males (60.6% increase) than girls (48.8% increase). Therefore, the increasing prevalence of cancer drives the radiotheranostics market.
Key Industry Players
Major companies operating in the radiotheranostics market report are Lantheus Holdings Inc., Cardinal Health Inc., GE Healthcare Inc., Bayer AG, Novartis AG, Siemens Healthineers, Boston Scientific Corporation, Terumo Corporation, 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.
The radiotheranostics market report table of contents includes:
1. Executive Summary
2. Radiotheranostics Market Characteristics
3. Radiotheranostics Market Trends And Strategies
4. Radiotheranostics Market – Macro Economic Scenario
5. Global Radiotheranostics Market Size and Growth
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31. Radiotheranostics Market Other Major And Innovative Companies
32. Global Radiotheranostics Market Competitive Benchmarking
33. Global Radiotheranostics Market Competitive Dashboard
34. Key Mergers And Acquisitions In The Radiotheranostics Market
35. Radiotheranostics Market Future Outlook and Potential Analysis
36.Appendix
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