Radiopharmaceutical Theranostics Market Overview: Market Trends, Strategies, And Opportunities
Radiopharmaceutical Theranostics Global Market Report 2024 – Market Size, Trends, And Global Forecast 2024-2033
The Business Research Company’s Radiopharmaceutical Theranostics Global Market Report 2024 – Market Size, Trends, And Global Forecast 2024-2033
LONDON, GREATER LONDON, UK, July 2, 2024 /EINPresswire.com/ -- The radiopharmaceutical theranostics market size is poised for significant growth, projected to increase from $2.51 billion in 2023 to $2.86 billion in 2024, with a compound annual growth rate (CAGR) of 14.1%. It will grow to $4.9 billion in 2028 at a compound annual growth rate (CAGR) of 14.4%. This growth is attributed to advancements in radiopharmaceutical development, clinical research, increased investment in research, regulatory approvals, and progress in nuclear medicine.
Rising Incidence of Cancer Drives Market Growth
The rising incidence of cancer globally is a major driver for the radiopharmaceutical theranostics market. In the US alone, it is estimated that 1.9 million new cancer cases will be diagnosed in 2023, with about 609,820 deaths expected. The aging population, with 88% of cancer diagnoses occurring in individuals aged 50 years and above, further underscores the need for targeted and personalized cancer treatments facilitated by radiopharmaceutical theranostics.
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Key Players and Market Trends
Major companies such as Cardinal Health Inc., AstraZeneca PLC, GE HealthCare Technologies Inc., and Bayer AG are focusing on developing theranostic solutions aimed at effectively treating cancer and other diseases. For instance, GE HealthCare Technologies Inc. launched new theranostic solutions in November 2023, combining therapeutic agents with advanced imaging technologies to precisely target cancer cells.
Radiopharmaceutical Theranostics Market Segmentation
• Product Type: Alpha Emitters, Beta Emitters, Positron Emission Tomography (PET) Tracers
• Source: Nuclear Reactors, Cyclotrons
• Radioisotope: Technetium-99, Gallium-68, Iodine-131, Iodine-123, 18F, Y-90, Lutetium (Lu) 177, Copper (Cu) 67, Copper (Cu) 64, Other Radioscopes
• Indication: Oncology, Cardiology, Neurology, Other Indications
• End Users: Hospitals, Diagnostic Imaging Centers, Academic and Research Institutes, Other End Users
Geographical Insights: North America Leading Market Adoption
North America currently dominates the radiopharmaceutical theranostics market, with significant adoption in oncology and cardiology applications. The region is expected to maintain its lead throughout the forecast period, driven by robust healthcare infrastructure and ongoing advancements in medical research.
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Radiopharmaceutical Theranostics Global Market Report 2024 from TBRC covers the following information:
• Market size data for the forecast period: Historical and Future
• Market analysis by region: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
• Market analysis by countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
Trends, opportunities, strategies and so much more.
The Radiopharmaceutical Theranostics Global Market Report 2024 by The Business Research Company is the most comprehensive report that provides insights on radiopharmaceutical theranostics market size, radiopharmaceutical theranostics market drivers and trends, radiopharmaceutical theranostics market major players, competitors' revenues, market positioning, and market growth across geographies. The radiopharmaceutical theranostics market report helps you gain in-depth insights on opportunities and strategies. Companies can leverage the data in the report and tap into segments with the highest growth potential.
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