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The global radiopharmaceutical theranostics market size reached a value of around USD 2.73 billion in 2023, driven by the increasing prevalence of cancer and increasing demand for precision medicine. The market is further expected to grow at a CAGR of 13.8%.
Radiopharmaceutical theranostics – the word theranostics is a combination of two words therapeutics and diagnosis, which is achieved with the help of radioisotopes. This involves the utilisation of radiopharmaceuticals labelled with radioactive isotopes, which when goes in patient’s body and helps in tracing the location of the tumour through diagnostic imaging. Administration of small amounts of radioisotopes helps in determining structure, function, metabolism of organs, and tissues within the body. The rising application of radiopharmaceutical theranostics in the diagnostic process has been aiding the radiopharmaceutical theranostics market growth.
After tracing the disease location, same or different radioactive isotopes can be utilized for delivering the therapeutic dose of radiation, which is also called as targeted therapy. The radiation emitted helps in destruction of diseased cells while minimizing the impact on healthy cells. Radiopharmaceutical theranostics finds wide applications in cancer treatment.
Based on segments, the market is divided into product type, radioisotopes, source, applications, indications, end users and region.
Market Breakup by Product Type
Market Breakup by Radioisotopes
Market Breakup by Source
Market Breakup by Applications
Radiopharmaceutical Theranostics Market Segmentation by Indications
Market Breakup by End Users
Market Breakup by Region
The market growth is driven by the increasing prevalence of cancer worldwide. Cancer treatment requires the detection of tumours location and provision of therapy to the target site, which is the function of radiopharmaceuticals. Radiopharmaceuticals help in the detection of the abnormalities and provide targeted therapy to that area by destruction of diseased cells, while minimizing the impact on healthy cells through radiations. Growth of the healthcare sector is directly proportional to the demand of advanced treatments and diagnostics. The rapidly advancing technologies in the healthcare system significantly contribute to the radiopharmaceutical theranostics market demand.
With the advances in technology, the efficacy, accuracy, and sensitivity of the imaging technology have also increased, which helps in better diagnosis of the disease. Increasing demand of precision medicine is responsible for the growth of this market as radiopharmaceutical theranostics is tailor-made for each patient.
Based on regions, North America accounts for a significant radiopharmaceutical theranostics market share due to the rising prevalence of cancer and other tumour diseases. The demand for diagnostics is rising with the rising prevalence of these disorders. The dominance of the region can also be attributed to the rising mergers and acquisitions amongst the leading players to develop more advanced ad efficient products.
The comprehensive EMR report provides an in-depth assessment of the market based on Porter's five forces model, along with giving a SWOT analysis. The report gives a detailed analysis of the following radiopharmaceutical theranostics companies, covering their competitive landscape and the latest developments like mergers, acquisitions, investments, and expansion plans.
The key features of the market report include patent analysis, grants analysis, clinical trials analysis, funding and investment analysis, partnerships, and collaborations analysis by the leading key players.
| REPORT FEATURES | DETAILS |
| Base Year | 2023 |
| Historical Period | 2017-2023 |
| Forecast Period | 2024-2032 |
| Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
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| Breakup by Product Type |
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| Breakup by Radioisotope |
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| Breakup by Source |
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| Breakup by Applications |
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| Breakup by Indications |
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| Breakup by End User |
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| Breakup by Region |
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| Market Dynamics |
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| Competitive Landscape |
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| Companies Covered |
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*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.*
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The market attained a value of USD 2.73 billion in 2023, driven by the increasing prevalence of cancer, advancements in imaging technology, increasing research and development, and increasing demand for precision medicine.
The market is anticipated to grow at a CAGR of 13.8% during the forecast period of 2024-2032 to attain a value of around USD 8.74 billion by 2032.
The growth of the market is driven by the increasing prevalence of cancer, advancements in imaging technology, increasing research and development, and increasing demand for precision medicine.
The key trends which are bolstering the market growth include personalized medicine and diagnostics, increasing adoption of targeted therapies, growing research and developments and development of new radiopharmaceuticals.
The major product types are alpha emitters, beta emitters, and positron emission tomography (pet) tracers.
The major radioisotopes in the market include Technetium-99, Gallium-68, Iodine-131, Iodine-123, 18F, Y-90, Lutetium (Lu) 177, Copper (Cu) 67, and Copper (Cu) 64, among others.
The major sources of the product can be categorized into nuclear reactors and cyclotrons.
The major indications include oncology, cardiology, and neurology, among others.
The major applications are targeted therapeutic and companion diagnostic, among others.
The end users of this market are hospitals, diagnostic imaging centres, academic and research institutes, among others.
The major regional markets include North America, Europe, Asia Pacific, Latin America, Middle East, and Africa.
The key players in the market can be categorised into include Novartis AG, Aurobindo Pharma, Bayer AG, Blue Earth Diagnostics, Cardinal Health, Clarity Pharmaceuticals, GE Healthcare, Jubliant Radiopharma, Navidea Biopharmaceuticals, Inc., SOFIE Telix Pharmeceuticals, and Lantheus Medical Imaging.
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+1-415-325-5166
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193/26/4 St.no.6, Ward Binh Hung Hoa, Binh Tan District, Ho Chi Minh City
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United States (Head Office)
30 North Gould Street, Sheridan, WY 82801
+1-415-325-5166
Australia
63 Fiona Drive, Tamworth, NSW
+61-448-061-727
India
C130 Sector 2 Noida, Uttar Pradesh 201301
+91-858-608-1494
Philippines
40th Floor, PBCom Tower, 6795 Ayala Avenue Cor V.A Rufino St. Makati City, 1226.
+63-287-899-028, +63-967-048-3306
United Kingdom
6 Gardner Place, Becketts Close, Feltham TW14 0BX, Greater London
+44-753-713-2163
Vietnam
193/26/4 St.no.6, Ward Binh Hung Hoa, Binh Tan District, Ho Chi Minh City
+84-865-399-124
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