Theranostics Market Growth and Development Insight - Size, Share, Growth, and Industry Analysis - MarkNtel Advisors

According to Markntel Advisors Report, Theranostics Market is expected to grow at a significant growth rate, and the analysis period is 2024-2030, considering the base year as 2023.Consistent monitoring and evaluating of market dynamics to stay informed and adapt your strategies accordingly. As a market research and consulting firm, we offer market research reports that focus on major parameters including Target Market Identification, Customer Needs and Preferences, Thorough Competitor Analysis, Market Size & Market Analysis, and other major factors. At the end, we do provide meaningful insights and actionable recommendations that inform decision-making and strategy development.

Theranostics is an integrated approach combining diagnostic and therapeutic capabilities within a single platform, enabling personalized medicine strategies. It involves the use of diagnostic techniques to identify biomarkers or molecular targets associated with specific diseases, guiding the selection of targeted therapies tailored to individual patients.

Global Theranostics Market Research Report & Summary:

The Global Theranostics Market size is estimated to grow at a CAGR of around 14.4% during the forecast period, i.e., 2024-30.                   

Time Period Captured in the Report:

·        Historical Years: 2019-22

·        Base Years: 2023

·        Forecast Years: 2024-30

Who are the Key Players Operating in the Theranostics Market?

The top companies of the Theranostics Market ruling the industry are: 

Siemens Healthcare Private Limited, GE HealthCare, Bayer AG, Cardinal Health, Hologic, Inc., Radiopharm Theranostics Limited, ITM Isotope Technologies Munich SE, Isotopia Molecular Imaging, Perspective Therapeutics, Ratio Therapeutics, ChiRhoClin, Cerebral, Therapeutics, Inc., Telix Pharmaceuticals Limited, Biosynth Ltd., Theradiag, Others

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What is Included in Theranostics Market Segmentation?

The Theranostics Market explores the industry by emphasizing the growth parameters and categorizes including geographical segmentation, to offer a comprehensive understanding of the market dynamic.  The further bifurcations are as follows:

-By Product

-Diagnostic Imaging- Market Size & Forecast 2019-2030F, USD Million

-MRI- Market Size & Forecast 2019-2030F, USD Million

-Pet Imaging- Market Size & Forecast 2019-2030F, USD Million

-Nuclear Imaging- Market Size & Forecast 2019-2030F, USD Million

-Others (CT Scan, Molecular Imaging, etc.)- Market Size & Forecast 2019-2030F, USD Million

-Radiopharmaceuticals- Market Size & Forecast 2019-2030F, USD Million

-Lutetium-177- Market Size & Forecast 2019-2030F, USD Million

-Samarium-153- Market Size & Forecast 2019-2030F, USD Million

-Radium-223- Market Size & Forecast 2019-2030F, USD Million

-Iodine-131- Market Size & Forecast 2019-2030F, USD Million

-Yttrium-90- Market Size & Forecast 2019-2030F, USD Million

-Others (Gallium-68 Fluorine-18, etc.) - Market Size & Forecast 2019-2030F, USD Million

-IVD/Biomarkers Screening- Market Size & Forecast 2019-2030F, USD Million

-Polymerase Chain Reaction- Market Size & Forecast 2019-2030F, USD Million

-Next-Generation Sequencing (NGS)- Market Size & Forecast 2019-2030F, USD Million

-Fluorescence in-situ Hybridization (FISH)- Market Size & Forecast 2019-2030F, USD Million

-Software & Services- Market Size & Forecast 2019-2030F, USD Million

-By Application

-Prostate Cancer- Market Size & Forecast 2019-2030F, USD Million

-Neuroendocrine Cancer- Market Size & Forecast 2019-2030F, USD Million

-Adult Pheochromocytoma- Market Size & Forecast 2019-2030F, USD Million

-Others (Paraganglioma, Pediatric Neuroblastoma, etc.)- Market Size & Forecast 2019-2030F, USD Million

-By End Users

-Hospitals- Market Size & Forecast 2019-2030F, USD Million

-Diagnostic Centers- Market Size & Forecast 2019-2030F, USD Million

-Others (Research Institutes and Academic Centers, Specialty Clinics, etc.)- Market Size & Forecast 2019-2030F, USD Million

-By Region

-North America

-South America

-Europe

-The Middle East & Africa

-Asia-Pacific

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Global Theranostics Market Driver:

Rising Collaborations to Improve Patient Care in the Global Theranostics Market – The increasing emphasis on collaborations among companies to enhance patient care in theranostics has been propelling the growth of the Global Theranostics Market. The collaborations have been focused on bolstering research, clinical collaboration, and educational programs in theranostics, which integrate diagnoses and targeted treatments to optimize disease diagnosis and treatment monitoring. Also, through collaborations, companies aim to increase awareness among consumers and healthcare professionals regarding the benefits and effectiveness of theranostics. These partnerships have been spurred by the escalating demand for theranostics practices, particularly following the approval of new theranostics-related drugs and therapies by organizations like Health Canada and the U.S. Food and Drug Administration. For instance,

·        In 2023, GE HealthCare partnered with St. Joseph's Health Care London and the Lawson Health Research Institute to establish a Theranostics Center of Excellence. This center aims to bolster research endeavors, foster clinical partnerships, and develop educational initiatives to advance the field of theranostics. Its mission is to enhance awareness, education, training, and patient care accessibility in this evolving practice.

These alliances are an indication of the growing recognition of theranostics as a pivotal approach in modern healthcare, blending therapy and diagnostics to optimize disease management.

Additionally, theranostics involves the integration of molecular imaging technologies and advanced digital solutions for personalized therapy. Thus, some collaborations seek to enhance production and access to radioisotopes, advance technologies for improved image quality and care coordination, and educate healthcare practitioners and government bodies to bolster theranostic adoption and advancement. Ultimately, the goal is to ensure the right patients receive the right treatments at the right time, leading to enhanced patient outcomes. Thus, as awareness improves, more healthcare professionals prefer this modality. Ultimately, it would augment the size & volume of the theranostics industry over the forecast period.

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