Global Radiotheranostics Market Report and Forecast 2024-2032

Global Radiotheranostics Market Outlook

The global radiotheranostics market size was valued at USD 8.51 billion in 2023, driven by the increasing prevalence of cancer across the globe. The market size is anticipated to grow at a CAGR of 13.5% during the forecast period of 2024-2032 to achieve a value of USD 26.61 billion by 2032.

Radiotheranostics: Introduction

Radiotheranostics is a unique approach where a tiny molecule is used like a double agent. First, it acts as a spy to show where cancer cells are and how many there are (diagnosis). Then, it attaches to these cells and gives them a special kind of treatment using radiation (treatment). Its like using the same tool for finding and attacking the bad cells, all in one go. This way of doing things is like a clever strategy to help treat cancer in a more precise and personalized way.

Global Radiotheranostics Market Analysis

The rising demand for personalized cancer treatment and medications is a major trend influencing the market growth. The rise in awareness about cancer treatments and evolving therapeutics approaches are all trends contributing to the increased demand for precision medicine, hence boosting the market growth. Increased initiatives by the government to implement regulatory framework towards cancer treatments with radiotheranostics therapeutics is also a major trend influencing the global radiotheranostics market growth.

The increasing number of research and development activities in radiotheranostics are also driving the market growth, for instance the treatment for cancer was a major priority for research in a joint UK-US cancer funding review which happened in March 2024. The increasing popularity of radiopharmaceuticals is also contributing to the rising radiotheranostics market share. For example, USA and Europe have approved radiopharmaceuticals for a targeted α-therapy of non-Hodgkin lymphomas and PSAM-positive prostate carcinoma. The increasing technological developments are also increasing the demand for radiotheranostics.

The continuously advancing imaging technologies, such as positron emission tomography (PET), single-photon emission computed tomography (SPECT), and magnetic resonance imaging (MRI), are also propelling the market growth. The continuous research studies and practices on finding the potential clinical applications of radiotheranostics therapeutics in cancer therapy, neurology, and cardiology are also expected to further escalate the market expansion.

Global Radiotheranostics Market Segmentations

Market Breakup by Radioisotope

• Radioisotope

• Iodine-131

• Iodine-123

• Gallium-68

• Lutetium-177

• 18F with Y-90

Market Breakup by Applications

• Oncology

• Non-oncology

Market Breakup by Region

• North America

• Europe

• Asia Pacific

• Latin America

• Middle East and Africa

Global Radiotheranostics Market Overview

The rising prevalence of cancer is the major factor responsible for the market growth. The increase in geriatric population is also a major factor driving the market growth globally. With increasing age body cells gets more prone to mutation resulting in development of cancer cells. The rapid adaptation of sedentary lifestyle is also contributing to the rise in cancer cases worldwide. Along with evolving lifestyles, stress has booked a huge share in such lifestyles, further contributing to rising number of cancer cases as stress is also capable of converting healthy cells into cancer cells.

Due to all the above-mentioned factors, the demand for radiotheranostics therapeutics is on high rise. Due to the targeted diagnosis approach of radiotheranostics therapeutics, it is getting traction from people and healthcare professionals. As radiotheranostics therapeutics works on personalized medicine approaches the scope of nuclear medicine in treating wide range of chronic disorders and a surging trend for precision medicine are anticipated to further propel the global radiotheranostics market growth.

Radiotheranostics Market: Competitor Landscape

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. The major companies in the market are as follows:

• Novartis AG

• Bayer AG

• Progenics Pharmaceuticals, Inc. (Lantheus)

• Telix Pharmaceuticals Limited.

• ITM Radiopharma

• Life Molecular Imaging.

• RadioMedix

• IsoTherapeutics Group, LLC

• Q BioMed Inc.

• Nordic Nanovector ASA

Key Highlights of the Report

Radiotheranostics Market Report Snapshots

Radiotheranostics Market Size

Radiotheranostics Market Analysis

Radiotheranostics Companies