Theranostics Market by Product (Software and Services, Radiopharmaceuticals, IVD/Biomarker Screening, Diagnostic Imaging), Application, End User, and Geography - Global Industry Analysis, Opportunities and Forecast up to 2030

Theranostics Market by Product (Software and Services, Radiopharmaceuticals, IVD/Biomarker Screening, Diagnostic Imaging), Application, End User, and Geography - Global Industry Analysis, Opportunities and Forecast up to 2030

Theranostics Market Size

The global theranostics market size was valued at $2.39 billion in 2024 and is projected to reach $5.77 billion by 2030, growing at a CAGR of 15.8% during the forecast period.

Theranostics Market Overview

Theranostics is a cutting-edge field of medicine that combines therapeutic and diagnostic capabilities into a single platform, enabling personalized treatment approaches. This integration allows for the simultaneous diagnosis and treatment of diseases, primarily cancers, by using targeted therapies guided by specific diagnostic tests. Theranostic techniques often involve the use of specialized imaging agents or biomarkers to identify the precise location and characteristics of a disease, followed by the delivery of a therapeutic agent that is tailored to the identified target. This approach enhances the efficacy of treatments by ensuring that they are highly specific to the patient's unique condition, thereby minimizing side effects and improving overall outcomes. By bridging diagnostics and therapeutics, theranostics represents a significant advancement in personalized medicine, offering the potential for more effective and individualized patient care.

Theranostics Market Dynamics

• The theranostics market is expected to witness significant growth in the future due to the increasing prevalence of cancer and chronic diseases and the advancements in precision medicine and molecular imaging.
• Additionally, the growing demand for personalized treatment approaches and the technological innovations in diagnostic and therapeutic tools are the prominent factors driving the growth of the theranostics market.
• However, the high cost of theranostic technologies and treatments and the regulatory challenges and lengthy approval processes are restraining the market growth.
• On the contrary, the development of novel theranostic agents and applications and the increasing investment in personalized medicine and biotechnology are creating opportunities for market growth.

By Application, the Prostate Cancer Segment is anticipated to Exhibit Significant Growth Rate in the Theranostics Market

The prostate cancer segment is expected to grow at a high growth rate in the theranostics market during the forecast period owing to rising need for more precise and effective diagnostic and treatment options. Prostate cancer is one of the most common cancers among men, and traditional diagnostic and therapeutic approaches often fall short in terms of specificity and efficacy. Theranostics offers a tailored approach, allowing for the simultaneous diagnosis and treatment of prostate cancer with high accuracy. This is achieved through the use of specific biomarkers and imaging agents that can identify cancerous cells with precision, followed by targeted therapies that directly attack these cells while sparing healthy tissue. The ability to monitor treatment response in real-time and adjust therapeutic strategies accordingly enhances treatment outcomes and reduces side effects. Additionally, ongoing advancements in molecular imaging and targeted therapy technologies continue to improve the effectiveness and accessibility of theranostic solutions in prostate cancer, further driving demand in this segment.

By Geography, North America Constitutes Immense Share with the Theranostics Market

North America holds a prominent share of the theranostics market during the forecast period due to region's advanced healthcare infrastructure which supports the adoption of cutting-edge medical technologies, including theranostics. North America has a high prevalence of cancers and other chronic diseases, driving the need for precise diagnostic and treatment solutions that theranostics provide. Additionally, significant investments in research and development by both government and private sectors fuel innovation in theranostic technologies. The presence of leading biotechnology and pharmaceutical companies in North America accelerates the development and commercialization of new theranostic applications. Favorable regulatory frameworks and expedited approval processes by agencies such as the FDA facilitate quicker access to these advanced treatments. Moreover, the region's well-established health insurance systems often cover high-cost innovative treatments, making theranostics more accessible to patients. All these factors collectively contribute to the growing demand for theranostics in North America.

Key Target Audience:

• Pharmaceutical and Biotechnology Companies
• Healthcare Providers
• Diagnostic Imaging Companies
• Regulatory Bodies
• Research and Academic Institutions
• Health Insurance Providers
• Investors and Venture Capitalists

List of the Key Players Profiled in the Report Includes:

• Bayer AG
• GE Healthcare
• Siemens Healthineers AG
• Cardinal Health
• Philips Healthcare
• Canon Inc.
• Curium
• Lantheus
• Northstar Medical Radioisotopes
• Eckert & Ziegler
• Pharmalogic
• Eczacibasi-Monrol

Recent Developments:

• In November 2023, GE HealthCare and BAMF Health announced a collaboration aimed at enabling BAMF Health to scale turnkey offerings, incorporating leading GE HealthCare technologies and services. The goal of this collaboration is to ensure a flexible go-to-market approach to enhance the adoption of Theranostics solutions in the U.S. This partnership supports a shared commitment to improving patient outcomes through advanced diagnostics and radiotherapeutics.

Market Segmentation:

The research report includes in-depth coverage of the industry analysis with size, share, and forecast for the below segments:

Market by, Product:

• Software and Services
• Radiopharmaceuticals
• IVD/Biomarker Screening
• Diagnostic Imaging

Market by, Application:

• Prostate Cancer
• Bone Metastasis
• Other Applications

Market by, End User:

• Theranostics Centers
• Research and Academic Centers
• Hospitals and Cancer Care Centers

Market by, Geography:

The theranostics market report also analyzes the major geographic regions and countries of the market. The regions and countries covered in the study include:

• North America (The United States, Canada, Mexico), Market Estimates, Forecast & Opportunity Analysis
• Europe (Germany, France, UK, Italy, Spain, Rest of Europe), Market Estimates, Forecast & Opportunity Analysis
• Asia Pacific (China, Japan, India, South Korea, Australia, New Zealand, Rest of Asia Pacific), Market Estimates, Forecast & Opportunity Analysis
• South America (Brazil, Argentina, Chile, Rest of South America), Market Estimates, Forecast & Opportunity Analysis
• Middle East & Africa (UAE, Saudi Arabia, Qatar, Iran, South Africa, Rest of Middle East & Africa), Market Estimates, Forecast & Opportunity Analysis

Scope of the Report:

The report “Global Theranostics Market: Industry Analysis, Opportunities and Forecast up to 2030” by Diligence Insights provides a detailed analysis of the present market and future outlook with market estimates and forecasts for all specified segments, encompassing both global and regional perspectives as outlined within the research framework. The study includes historical market data for the years 2022, 2023 and offers revenue estimations for 2024, and project forecasts spanning from 2025 to 2030. It places significant emphasis on the examination of market trends, key industry participants, supply chain developments, technological advancements, pivotal milestones, and prospective strategies. Comprehensive market assessments are carried out across major geographic regions, including North America, Europe, Asia Pacific, South America, and Middle East & Africa. As such, this report constitutes a valuable resource for current industry stakeholders, newcomers to the field, and potential investors.

The study offers an in-depth market analysis, drawing insights from industry experts across the value chain. A special focus has been made on 25 countries, including the United States, Canada, Mexico, the United Kingdom, Germany, Spain, France, Italy, China, Brazil, Saudi Arabia, and South Africa, among others. The market data has been meticulously collected through extensive primary interviews and comprehensive secondary research. Market size determination is rooted in the revenue generated from sales across all the specified segments and sub-segments as defined within the research scope. The market sizing analysis includes both top-down and bottom-up approaches for data validation and accuracy measures.

The report offers insights into the following aspects:

• Analysis of major market trends, factors driving, restraining, threatening, and providing opportunities for the market.
• Analysis of the market structure by identifying various segments and sub-segments of the market.
• Understand the revenue forecast of the market for North America, Europe, Asia-Pacific, South America, and Middle East & Africa.
• Analysis of opportunities by identification of high-growth segments/revenue pockets in the market.
• Understand major player profiles in the market and analyze their business strategies.
• Understand competitive developments such as joint ventures, alliances, mergers and acquisitions, and new product launches in the market.