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 is referred to the fusion of diagnostics and drug therapy. It involves nanoscience to unite diagnostic and therapeutic applications to form a single agent, allowing for diagnosis, drug delivery, and treatment response monitoring. Theranostics helps in optimizing safety, effective results, and streamlining of drug development. It uses specific biological pathways in human body to acquire diagnostic images as well as to deliver a therapeutic dose of radiation to the patient. Further, the theranostics uses specific biological pathways in the human body, to acquire diagnostic images and also to deliver a therapeutic dose of radiation to the patient.
The report " Global Theranostics Market, By Therapeutic Area (Oncology (Breast Cancer, Lung Cancer, Colorectal Cancer, and Cervical Cancer), Cardiovascular Diseases, Neurological Disorders, and Immunological Disorders), By Technology (Polymerase Chain Reaction, Immunohistochemistry, and In Situ Hybridization, Sequencing), By End User (Hospital and Diagnostic Laboratories), and By Region (North America, Europe, Asia Pacific, Latin America, Middle East, and Africa) - Trends, Analysis and Forecast till 2030”
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.
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Key Market Insights from the report:
The Global 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%. The Global 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.
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., and 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.
