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Report Overview
2023
Base Year
2018-2023
Historical Year
2024-2032
Forecast Year
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.
Radiotheranostics Market Report Snapshots
Radiotheranostics Market Analysis
*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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Key Questions Answered in the Report
The market attained a value of about USD 8.51 billion in 2023, driven by the increasing geriatric population.
The market is anticipated to grow at a CAGR of 13.5% during the forecast period of 2024-2032, likely to reach a market value of USD 26.61 billion by 2032.
The rising geriatric population and increasing prevalence of cancer are among the major factors driving the market growth.
The increasing popularity of radiopharmaceuticals is driving the increase in demand for radiotheranostics therapeutics and increasing number of research and development activities around the world are among major trends influencing the market growth.
The major regions of the market include North America, Europe, Asia Pacific, Latin America, Middle East and Africa. North America is currently leading the global market.
The radioisotope for radiotheranostics include Iodine-131, Iodine-123, Gallium-68, Lutetium-177, 18F with Y-90.
They find wide applications in oncology and non-oncology.
Key players involved in the market are Novartis AG, Bayer AG, Progenics Pharmaceuticals, Inc. (Lantheus), Telix Pharmaceuticals Limited., ITM Radiopharma, Life Molecular Imaging., RadioMedix, IsoTherapeutics Group, LLC, Q BioMed Inc., and Nordic Nanovector ASA.
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