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The global theranostics market is expected to exhibit a CAGR of 10.69% during 2022-2027. Keeping in mind the uncertainties of COVID-19, we are continuously tracking and evaluating the direct as well as the indirect influence of the pandemic on different end use sectors. These insights are included in the report as a major market contributor.
Theranostics is a combination of various radioactive drugs and techniques used to diagnose, deliver therapy, and treat life-threatening illnesses. It is cost-effective and involves pharmacogenetics, proteomics, and biomarker profiling. It can be integrated with nanomedicine to target specific organs and tissues and improve patient-specific outcomes. Nowadays, researchers worldwide are developing new diagnostic and therapeutic agents for theranostics to personalize the treatment of cancer, reduce side effects of treatment, and improve the quality care of pharmacotherapy.
The rising prevalence of cancer due to the increasing consumption of tobacco and alcohol, high body mass index (BMI), low nutrition intake, and lack of physical activity represents one of the main factors stimulating the market growth. Moreover, according to the World Health Organization (WHO), cancer is the second leading cause of death globally, out of which 70% of deaths occur in low and middle-income countries. This is encouraging health and governing agencies of several countries to increase awareness about the available medical treatments and improve the healthcare infrastructure, which is positively influencing the market growth. The escalating demand for personalized medicine is also bolstering the market growth. Apart from this, the integration of seamless, multiple imaging treatment technologies within a single nanoparticle to tackle pathologies is driving the market. Furthermore, the increasing approvals to produce theranostics and rising investments in research and development (R&D) activities are other factors anticipated to propel the growth of the market in the coming years.
IMARC Group provides an analysis of the key trends in each sub-segment of the global theranostics market report, along with forecasts at the global, regional and country level from 2022-2027. Our report has categorized the market based on disease type, technology and end user.
Breakup by Disease Type:
Breakup by Technology:
Breakup by End User:
Breakup by Region:
The competitive landscape of the industry has also been examined along with the profiles of the key players being Abbott Laboratories, Agilent Technologies Inc., AmeriPath Inc (Quest Diagnostics Incorporated), Beckman Coulter Inc. (Danaher Corporation), Becton Dickinson and Company, F. Hoffmann-La Roche AG, General Electric Company, Illumina Inc., Myriad Genetics Inc., Pfizer Inc., Qiagen N.V. and Thermo Fisher Scientific Inc.
|Base Year of the Analysis||2021|
|Segment Coverage||Disease Type, Technology, End User, Region|
|Region Covered||Asia Pacific, Europe, North America, Latin America, Middle East and Africa|
|Countries Covered||United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico|
|Companies Covered||Abbott Laboratories, Agilent Technologies Inc., AmeriPath Inc (Quest Diagnostics Incorporated), Beckman Coulter Inc. (Danaher Corporation), Becton Dickinson and Company, F. Hoffmann-La Roche AG, General Electric Company, Illumina Inc., Myriad Genetics Inc., Pfizer Inc., Qiagen N.V. and Thermo Fisher Scientific Inc.|
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We expect the global theranostics market to exhibit a CAGR of 10.69% during 2022-2027.
The rising development of new diagnostic and therapeutic agents for theranostics for personalizing the treatment of cancer, reducing side effects of treatment, and improving the quality care of pharmacotherapy is primarily driving the global theranostics market.
The sudden outbreak of the COVID-19 pandemic had led to postponement of cancer treatments to reduce the risk of the coronavirus infection upon hospital visits and interaction with medical equipment, thereby negatively impacting the global market for theranostics.
Based on the disease type, the global theranostics market can be segmented into neurological disorders, cardiovascular diseases, immunological disorders, oncology diseases, and others. Currently, oncology diseases exhibit a clear dominance in the market.
Based on the technology, the global theranostics market has been bifurcated into polymerase chain reaction, immunohistochemistry, in-situ hybridization, sequencing, and others. Among these, polymerase chain reaction currently accounts for the majority of the total market share.
Based on the end user, the global theranostics market can be divided into hospitals and clinics, diagnostic laboratories, and others. Currently, hospitals and clinics hold the largest market share.
On a regional level, the market has been classified into North America, Asia-Pacific, Europe, Latin America, and Middle East and Africa, where North America currently dominates the global market.
Some of the major players in the global theranostics market include Abbott Laboratories, Agilent Technologies Inc., AmeriPath Inc (Quest Diagnostics Incorporated), Beckman Coulter Inc. (Danaher Corporation), Becton Dickinson and Company, F. Hoffmann-La Roche AG, General Electric Company, Illumina Inc., Myriad Genetics Inc., Pfizer Inc., Qiagen N.V., and Thermo Fisher Scientific Inc.
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