Theranostics Market is estimated to be US$ 468.7 Billion in 2030 at a CAGR 10.40% -By PMI

The report "Theranostics Market, By Therapeutic Area, By Technology, By End User - Trends, Analysis and Forecast till 2030”

COVINA, CALIFONIA, UNITED STATES, March 29, 2023/EINPresswire.com/ -- Theranostics market has seen significant growth in recent years due to advancements in technology, increasing demand for personalized medicine, and a rise in the prevalence of chronic diseases such as cancer and cardiovascular diseases. Theranostics is an emerging field that combines diagnostic and therapeutic applications to improve patient outcomes. It involves the use of diagnostic tests to identify specific biomarkers and molecular targets associated with diseases, followed by the delivery of targeted therapy to these identified targets. Theranostics market is expected to continue to grow as advancements in technology and increasing demand for personalized medicine drive innovation and new developments in the field.

Frequently Asked Questions for Theranostics Market:

--- What is driving the growth of the theranostics market?
• The theranostics market has seen significant growth in recent years due to advancements in technology, increasing demand for personalized medicine, and a rise in the prevalence of chronic diseases such as cancer and cardiovascular diseases.

--- What are the diagnostic techniques used in theranostics?
• Diagnostic techniques used in theranostics include imaging, genomic testing, and proteomic testing.

---- What are the therapeutic applications of theranostics?
• Therapeutic applications of theranostics include oncology, cardiovascular diseases, neurology, and others.

--- Who are the end users of theranostics?
• End users of theranostics include hospitals, research institutes, and diagnostic laboratories.

--- Which region has the largest share of the Theranostics Market?
• North America currently holds the largest share of the theranostics market due to the presence of well-established healthcare infrastructure, increasing awareness of personalized medicine, and rising investments in research and development.

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Key Highlights:

• In 2021, UC Davis Health expands clinical approach to cancer with the fusion of diagnostics and therapy which includes theranostics technology for imaging and attacking tumor within patients.

Analyst View:

The growing occurrence of life-threatening and chronic diseases and the demand for innovative chemotherapeutic treatments associated with the need for improving disease detection are the key factors driving the global theranostics market during the forecast year. In addition, the growing potential of clinically adaptable nanomaterials in the biological imaging area and therapy is expected to boost the market growth. Moreover, improved collaboration between drug and diagnostics firms are anticipated to boost the growth of the theranostics market.

Key Market Insights from the report:

Theranostic Market accounted for US$ 81.40 billion in 2020 and is estimated to be US$ 468.7 billion by 2030 and is anticipated to register a CAGR of 10.40%. Theranostics Market has been segmented on the basis of therapeutic area, technology, end-user and region.

• By Therapeutic Area, the market is segmented into Oncology (Breast Cancer, Lung Cancer, Colorectal Cancer, and Cervical Cancer), Cardiovascular Diseases, Neurological Disorders, and Immunological Disorders.
• By Technology, the market is segmented into Polymerase Chain Reaction, Immunohistochemistry, and In Situ Hybridization, Sequencing.
• By End-User, the market is segmented into Hospital and Diagnostic Laboratories.
• By Region, the Global Diabetic Neuropathy Market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.

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Competitive Landscape:

The Key players operating in the global thernostics market includes:-

• Thermo Fisher Scientific, Inc.
• Beckman Coulter, Inc.
• Focus Diagnostics GmbH
• AmeriPath, Inc.
• Illumina, Inc.
• F.Hoffmann LA-Roche Ltd.
• Qiagen N.V.
• Myriad Genetics, Inc.
• Agilent Technologies, Inc.
• Abbott Laboratories
• Foundation Medicine, Inc.
• Oxford Cancer Biomarkers, Ltd.

The market provides detailed information regarding the industrial base, productivity, strengths, manufacturers, and recent trends which will help companies enlarge the businesses and promote financial growth. Furthermore, the report exhibits dynamic factors including segments, sub-segments, regional marketplaces, competition, dominant key players, and market forecasts. In addition, the market includes recent collaborations, mergers, acquisitions, and partnerships along with regulatory frameworks across different regions impacting the market trajectory. Recent technological advances and innovations influencing the global market are included in the report.

Market Dynamics:

The increasing research and development in the field of clinical diagnostics test to be used with available treatment is expected to boost the global theranostics market. For instance, in 2017 Illumina, Inc. announced launch of U.S. Food & Drug Administration approved extended RAS panel for identification of patients eligible for treatment of metastatic colorectal cancer with Vectibix (pantiumunab).

Furthermore, the collaboration and partnerships by leading manufacturers to develop innovative diagnostics test is also expected to augment theranostics market.
However, stringent regulations coupled with inadequate reimbursement facilities are expected to hamper the growth of theranostics market in the near future.

Market Taxonomy:

This report segments the global theranostics market on the basis of therapeutic area, technology, end user and region. On the basis of therapeutic area, the theranostics market is segmented into oncology, which is sub-segmented into breast cancer, lung cancer, colorectal cancer, cervical cancer, and others, cardiovascular diseases, neurological disorders, immunological disorders, and others. On the basis of technology, the theranostics market is segmented into polymerase chain reaction, immunohistochemistry, in situ hybridization, sequencing, and others. On basis of end-user, the theranostics market is segmented into hospitals, diagnostic laboratories, and others. For comprehensive understanding of market dynamics, the global theranostics market is analyzed across key regions namely North America, Europe, Asia Pacific, Latin America, Africa, and Middle East. Each of these regions is analyzed on basis of market findings across major countries in these regions for a macro-level understanding of the market.

Scope of Report:

1. Global Theranostics Market, By Therapeutic Area, 2020 – 2030, (US$ Mn)
o Overview
- Market Value and Forecast (US$ Mn), and Share Analysis (%), 2020 – 2030
- Y-o-Y Growth Analysis (%), 2020 – 2030
- Segment Trends
o Oncology
- Overview
- Market Size and Forecast (US$ Mn), and Y-o-Y Growth (%), 2020 – 2030
o Cardiovascular Diseases
- Overview
- Market Size and Forecast (US$ Mn), and Y-o-Y Growth (%), 2020 – 2030
o Neurological Diseases
- Overview
- Market Size and Forecast (US$ Mn), and Y-o-Y Growth (%), 2020 – 2030
o Immunological Diseases
- Overview
- Market Size and Forecast (US$ Mn), and Y-o-Y Growth (%), 2020 – 2030

2. Global Theranostics Market, By Technology, 2020 – 2030, (US$ Mn)
o Overview
- Market Value and Forecast (US$ Mn), and Share Analysis (%), 2020 – 2030
- Y-o-Y Growth Analysis (%), 2020 – 2030
- Segment Trends
o Polymerase Chain Reaction
- Overview
- Market Size and Forecast (US$ Mn), and Y-o-Y Growth (%), 2020 – 2030
o Immunohistochemistry
- Overview
- Market Size and Forecast (US$ Mn), and Y-o-Y Growth (%), 2020 – 2030
o In Situ Hybridization
- Overview
- Market Size and Forecast (US$ Mn), and Y-o-Y Growth (%), 2020 – 2030
o Sequencing
- Overview
- Market Size and Forecast (US$ Mn), and Y-o-Y Growth (%), 2020 – 2030

3. Global Theranostics Market, By End-User, 2020 – 2030, (US$ Mn)
o Overview
- Market Value and Forecast (US$ Mn), and Share Analysis (%), 2020 – 2030
- Y-o-Y Growth Analysis (%), 2020 – 2030
- Segment Trends
o Hospitals
- Overview
- Market Size and Forecast (US$ Mn), and Y-o-Y Growth (%), 2020 – 2030
o Diagnostic Laboratories
- Overview
- Market Size and Forecast (US$ Mn), and Y-o-Y Growth (%), 2020 – 2030

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Regional Scope:

North America - U.S., Canada
Europe - UK, Germany, Spain, France, Italy, Russia, Rest of Europe
Asia Pacific - Japan, India, China, South Korea, Australia, Rest of Asia-Pacific
Latin America - Brazil, Mexico, Argentina, Rest of Latin America
Middle East & Africa - South Africa, Saudi Arabia, UAE, Rest of Middle East & Africa

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Shweta Raskar
Prophecy Market Insights
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