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

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. 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%.

Disclaimer: This data is only a representation. Actual data may vary and will be available in the report.

Growing development of novel companion diagnostic tests

Growing development of novel companion diagnostic tests to be used with available treatment options is factor driving growth of the theranostics market. Additionally, increasing adoption of diagnostic tests by laboratories is a factor expected to foster growth of the target market over the forecast period. Furthermore, collaborations and partnerships by leading manufacturers in order to develop innovative companion diagnostics test is key factor supporting growth of the theranostics market.

However, stringent government regulations, coupled with inadequate reimbursement facilities are factors hindering growth of the theranostics market.

Theranostics market is segmented into therapeutic area, technology, end user, and region.

On the basis of therapeutic area, the theranostics market is classified into oncology, cardiovascular diseases, neurological disorders, and immunological disorders. Oncology sub-segment is categorized into breast cancer, lung cancer, colorectal cancer, and cervical cancer. On the basis of technology, the target market is segmented into polymerase chain reaction, Immunohistochemistry, in situ hybridization, and sequencing. On the basis of end-user, the global thernostics market is bifurcated into hospital and diagnostic laboratories.

Regional Insights:

On the basis of region, the theranostics market has been segmented into North America, Europe, Asia Pacific, Latin America, Middle East, and Africa. The market in North America is expected to account for major revenue share as compared to that of other regions. This can be attributed to presence of leading manufacturers, collaborations, robust research, development activities, and increasing adoption of companion diagnostics in the countries of the region. Also, the market in Europe is expected to account for second-highest revenue share in the global market, followed by the market in Asia Pacific.

Segments Covered in the Report:

This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends and opportunities in each of the sub-segments from 2020 to 2030. For the purpose of this study, has segmented the Global Theranostic Market report based on product, mode of delivery and region.

Theranostic Market, By Region:

• North America
  • Middle East & Africa
    • • GCC
      • Israel
      • South Africa
      • Rest of Middle East & Africa
  • Latin America
    • • Brazil
      • Mexico
      • Rest of Latin America
  • Asia Pacific
    • • China
      • India
      • Japan
      • South Korea
      • Rest of Asia Pacific
  • Europe
    • • Germany
      • UK
      • France
      • Russia
      • Italy
      • Rest of Europe
  • • U.S.
    • Canada

Key players operating in the 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.

• Thermo Fisher Scientific, Inc.
  • Company Overview
  • Product Portfolio
  • Key Highlights
  • Financial Performance
  • Business Strategies Overview
• Bluebird Bio, Inc.
  • Company Overview
  • Product Portfolio
  • Key Highlights
  • Financial Performance
  • Business Strategies Overview
• Adaptimmune Therapeutics plc
  • Company Overview
  • Product Portfolio
  • Key Highlights
  • Financial Performance
  • Business Strategies Overview
• Celgene Corporation
  • Company Overview
  • Product Portfolio
  • Key Highlights
  • Financial Performance
  • Business Strategies Overview
• Shanghai Sunway Biotech Co. Ltd.
  • Company Overview
  • Product Portfolio
  • Key Highlights
  • Financial Performance
  • Business Strategies Overview
• Merck KGaA
  • Company Overview
  • Product Portfolio
  • Key Highlights
  • Financial Performance
  • Business Strategies Overview
• Transgene SA
  • Company Overview
  • Product Portfolio
  • Key Highlights
  • Financial Performance
  • Business Strategies Overview
• OncoGenex Pharmaceuticals, Inc.
  • Company Overview
  • Product Portfolio
  • Key Highlights
  • Financial Performance
  • Business Strategies Overview