IMARC Group, a leading market research company, has recently releases report titled “Radiotheranostics Market Report by Radioisotope (Iodine-131, Iodine-12, Gallium-68, Lutetium-177, 18f With Y-90, and Others), Approach (Targeted Therapeutic, Targeted Diagnostic), Application (Oncology, Non- Oncology), and Region 2024-2032”. The study provides a detailed analysis of the industry, including the global pasta market size, share, trends, and growth forecast. The report also includes competitor and regional analysis and highlights the latest advancements in the market.
The global radiotheranostics market size reached US$ 8.5 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 24.5 Billion by 2032, exhibiting a growth rate (CAGR) of 12.4% during 2024-2032. The growing prevalence of cancer, several technological advancements, increasing research and development (RD) activities, favorable government policies, and growing awareness among individuals regarding radiotheranostics are some of the major factors propelling the market.
Global Radiotheranostics Market Trends:
The expanding applications in neurology, where radiopharmaceuticals are increasingly used for diagnosing and treating neurological disorders such as Alzheimer's disease and Parkinson's disease, leveraging their ability to target specific brain receptors and pathways for improved disease management, are providing an impetus to the market growth. Besides this, the rising adoption in veterinary medicine, where radiopharmaceuticals are utilized for diagnosing and treating cancers and other conditions in companion animals, reflects a growing trend towards advanced diagnostic and therapeutic options in veterinary care, contributing to the market expansion.
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Factors Affecting the Growth of the Radiotheranostics Industry:
- Increasing prevalence of cancer:
Cancer remains a leading cause of morbidity and mortality globally, with a rising incidence of various types of cancers, such as prostate cancer, neuroendocrine tumors, and certain types of breast cancer. Radiotheranostics, which combine therapeutic and diagnostic capabilities using radiopharmaceuticals, play a crucial role in personalized cancer treatment. These agents can accurately target cancer cells based on their specific molecular characteristics, allowing for precise diagnosis, staging, and therapy planning. The ability of radiotheranostics to deliver targeted radiation therapy while minimizing damage to surrounding healthy tissues makes them increasingly valuable in oncology, strengthening the market growth.
- Technological advancements in imaging and radiopharmaceutical development:
Advances in positron emission tomography (PET), single-photon emission computed tomography (SPECT), and hybrid imaging modalities such as PET/ Computed Tomography (CT) and PET/ Magnetic resonance imaging (MRI) have enhanced the sensitivity, resolution, and accuracy of cancer imaging. These imaging techniques are integrated with radiotheranostic agents labeled with radionuclides such as gallium-68, lutetium-177, and iodine-131, allowing for real-time visualization of tumors and precise localization of disease sites. Concurrently, ongoing research and development (RD) efforts focus on novel radiopharmaceuticals that target specific biomarkers and pathways implicated in cancer progression, offering new opportunities for personalized medicine and improving patient outcomes, bolstering the market demand.
- Increasing adoption of theranostics in therapeutics:
Theranostics leverage the concept of personalized medicine by combining diagnostics and targeted therapy tailored to individual patient profiles. Radiotheranostic agents can identify specific molecular targets expressed on cancer cells through diagnostic imaging and subsequently deliver therapeutic doses of radiation to those targets. This approach minimizes systemic toxicity and enhances treatment efficacy compared to traditional chemotherapy and external beam radiation therapy. Theranostic applications extend beyond cancer treatment to include neuroendocrine disorders, cardiovascular diseases, and inflammatory conditions, driving investment in research and clinical applications, supporting the market expansion.
Key Companies:
- Actinium Pharmaceuticals, Inc.
- IsoTherapeutics Group, LLC
- ITM Isotope Technologies Munich SE
- Lantheus Holdings, Inc.
- Life Molecular Imaging GmbH
- Novartis AG
- Radiomedix, Inc.
- Telix Pharmaceuticals Limited
Radiotheranostics Market Report Segmentation:
By Radioisotope:
- Iodine-131
- Iodine-12
- Gallium-68
- Lutetium-177
- 18F with Y-90
- Others
Lutetium-177 accounts for the majority of shares due to its effectiveness in targeted radionuclide therapy, particularly in treating neuroendocrine tumors and prostate cancer.
By Approach:
- Targeted Therapeutic
- Targeted Diagnostic
Targeted therapeutic represents the majority of shares because of its precision in delivering radiation directly to cancer cells while sparing healthy tissues.
By Application:
- Oncology
- Non- Oncology
Oncology dominates the market growth as radiotheranostics play a crucial role in diagnosing and treating various types of cancers with personalized medicine approaches.
Regional Insights:
- North America
- Asia-Pacific
- Europe
- Middle East and Africa
- Latin America
North America enjoys the leading position due to its high healthcare expenditures, advanced medical infrastructure, and early adoption of innovative radio theranostic technologies.
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Key Highlights of the Report:
- Market Performance (2018-2023)
- Market Outlook (2024-2032)
- Market Trends
- Market Drivers and Success Factors
- Impact of COVID-19
- Value Chain Analysis
- Comprehensive mapping of the competitive landscape
If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.
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