MarkNtel Advisors recently published a detailed industry analysis of the Theranostics  Market. The report covers growth trends, regional marketing strategies, challenges, opportunities, and drivers influencing the market.

Insights and Analysis of the Theranostics  Market (2024-2030)

The Global Theranostics Market size is estimated to grow at a CAGR of around 14.4% during the forecast period, i.e., 2024-30. The market for theranostics has been growing at a significant rate during the past few years, owing to several key factors. The increasing number of hospitals, along with a growing emphasis on targeted therapies, has been contributing to this market expansion. Moreover, the introduction of innovative theranostics approaches in recent years has further escalated market growth & development.

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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,

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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.

These increasing occurrences of illnesses among the inhabitants are resulting in the shift towards innovative health treatments. As a result, several non-government organizations are increasingly funding the pharma & bio-pharma companies to develop highly effective drugs. The continuous research & development of high-efficacy drugs would continue to elevate the requirement for Theranostics, uplifting the Global Theranostics Market in the forecast period.

What segments define the Theranostics  market from 2024 to 2030? How do these segments contribute to market dynamics and growth?

-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

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-By Region

-North America

-South America

-Europe

-Middle East & Africa

-Asia-Pacific

Who are the leading key players shaping the Theranostics  Market landscape?

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

Questions Addressed in this Study

1.What factors are driving the Theranostics Market growth?

2.What are the key insights into the current trends in the Theranostics Market?

3.What is the current size of the Theranostics Market, and how is it projected to change in the future?

4.What is the future outlook for the Theranostics Market in terms of technological advancements and market expansion?

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