Global Theranostics Market Analysis and Forecast: Trends Shaping the Future 2024-2033
Theranostics Global Market Report 2024 – Market Size, Trends, And Global Forecast 2024-2033
The Business Research Company’s Theranostics Global Market Report 2024 – Market Size, Trends, And Global Forecast 2024-2033
LONDON, GREATER LONDON, UK, June 17, 2024 /EINPresswire.com/ -- The theranostics market size is projected to grow from $98.91 billion in 2023 to $110.41 billion in 2024, at a compound annual growth rate (CAGR) of 11.6%. This growth can be attributed to advancements in molecular imaging, the shift to value-based healthcare, and its integration in oncology. Moving forward, the market is expected to continue its rapid expansion, reaching $164.38 billion by 2028, with a CAGR of 10.5%. Factors driving this growth include the rise in precision medicine initiatives, expanding applications beyond oncology, population aging and chronic diseases, advancements in biomarker discovery, and strong government support and funding.
Rising Prevalence of Cancer Drives Market Growth
The rising prevalence of cancer globally is a significant driver for the theranostics market1. Cancer affects various organs and remains a leading cause of morbidity and mortality worldwide. Theranostics, combining therapeutics and diagnostics, offers personalized treatment options by leveraging diagnostic insights to tailor therapies effectively. This approach is pivotal in managing cancer and chronic diseases, fostering innovation in healthcare. According to the National Cancer Institute, approximately 18.1 million individuals in the US are cancer survivors, with numbers projected to rise, underscoring the growing demand for effective theranostic solutions.
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Key Players and Market Trends2
Major players in the theranostics market such as Abbott Laboratories, Thermo Fisher Scientific Inc., and Roche Diagnostics Corporation are focusing on innovative products like molecular targeted radiopharmaceuticals (MTRPs) to gain competitive advantage. For instance, Applied Molecular Therapeutics launched 177Lu (n.c.a.)-PSMA-Therapy, a targeted radiopharmaceutical for prostate cancer treatment, highlighting advancements in precision medicine.
Segments
• Disease Type: Neurological Disorders, Cardiovascular Diseases, Immunological Disorders, Oncology Diseases, Other Diseases
• Technology: Polymerase Chain Reaction, Immunohistochemistry, In-Situ Hybridization, Sequencing, Other Technologies
• End User: Hospitals And Clinics, Diagnostic Laboratories, Other End Users
Geographical Insights: Asia-Pacific Leading the Market
North America dominated the theranostics market in 2023, while Asia-Pacific is expected to emerge as the fastest-growing region in the forecast period. Detailed regional dynamics and growth opportunities are covered comprehensively in the report.
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Theranostics Global Market Report 2024 from TBRC covers the following information:
• Market size date for the forecast period: Historical and Future
• Market analysis by region: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
• Market analysis by countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
Trends, opportunities, strategies and so much more.
The Theranostics Global Market Report 2024 by The Business Research Company is the most comprehensive report that provides insights on theranostics market size, theranostics market drivers and trends, theranostics market major players, competitors' revenues, market positioning, and market growth across geographies. The theranostics market report helps you gain in-depth insights on opportunities and strategies. Companies can leverage the data in the report and tap into segments with the highest growth potential.
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1 https://www.thebusinessresearchcompany.com/report/theranostics-global-market-report
2 https://www.thebusinessresearchcompany.com/report/theranostics-global-market-report
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