Theranostics - Global Strategic Business Report

The global market for Theranostics was estimated at US$2.0 Billion in 2024 and is projected to reach US$4.6 Billion by 2030, growing at a CAGR of 15.2% from 2024 to 2030. This comprehensive report provides an in-depth analysis of market trends, drivers, and forecasts, helping you make informed business decisions. The report includes the most recent global tariff developments and how they impact the Theranostics market.

Global Theranostics Market - Key Trends & Drivers Summarized

Is Theranostics the Future of Precision Medicine, or Just the Start?

Theranostics, the fusion of diagnostic imaging and targeted therapy, represents one of the most transformative trends in modern healthcare. This approach enables clinicians to detect, monitor, and treat diseases using a single molecular platform, often with radiolabeled agents or companion diagnostics that guide personalized treatment strategies. While initially focused on oncology-particularly for prostate, thyroid, and neuroendocrine tumors-theranostics is rapidly expanding into other areas such as cardiology, neurology, and inflammatory diseases. By linking molecular diagnostics to targeted therapeutic delivery, this dual-function modality is redefining how chronic and life-threatening diseases are identified and treated.

What sets theranostics apart is its capacity for patient-specific treatment. It allows for real-time feedback on therapeutic efficacy, early detection of disease progression, and rapid adjustment of therapeutic regimens. This reduces exposure to ineffective therapies and minimizes side effects. As healthcare moves toward individualized treatment models, theranostics offers a compelling alternative to one-size-fits-all protocols. The adoption of radiotheranostic agents like Lutetium-177 and Gallium-68 in nuclear medicine has shown promising results in improving survival rates and quality of life. These developments are also accelerating regulatory recognition, investment in radiopharmaceutical production, and cross-disciplinary collaboration between oncologists, radiologists, and molecular biologists.

How Are Imaging Technologies and Radiopharmaceuticals Advancing Theranostic Efficacy?

The evolution of theranostics is closely linked to advances in nuclear imaging technologies and the development of novel radiopharmaceutical agents. PET (positron emission tomography) and SPECT (single-photon emission computed tomography) imaging have become cornerstones in identifying disease biomarkers at the molecular level. When paired with targeted isotopes that deliver cytotoxic effects to malignant cells, these diagnostic tools become therapeutic vectors. The increasing availability of alpha and beta-emitting isotopes-such as Actinium-225 and Lutetium-177-has opened new avenues for treating resistant cancers while minimizing systemic toxicity.

In addition, companion diagnostics are being developed alongside targeted therapies to guide clinical decisions with higher precision. Molecular markers such as PSMA (Prostate-Specific Membrane Antigen) and somatostatin receptors are now being used to stratify patients, determine eligibility for therapy, and monitor treatment response. The rise of cyclotron and generator-based radioisotope production is improving access to these agents, particularly in regional and private healthcare settings. Moreover, nanotechnology is being explored to encapsulate and deliver theranostic agents, offering enhanced tumor targeting, reduced renal toxicity, and prolonged circulation times. These breakthroughs are not only improving patient outcomes but also standardizing theranostics for broader clinical application.

Can Theranostics Reshape the Economics and Outcomes of Cancer Care?

Theranostics is emerging as a powerful tool for improving clinical outcomes while reducing long-term treatment costs-an increasingly important consideration in value-based healthcare systems. By identifying responders early and delivering therapy with high precision, theranostic regimens often require fewer treatment cycles and generate fewer side effects, resulting in shorter hospital stays and better resource allocation. As precision medicine initiatives gain traction globally, theranostics is being integrated into oncology treatment algorithms and clinical pathways. Health technology assessment (HTA) bodies and payers are gradually acknowledging its economic value, particularly in metastatic and late-stage cancers where traditional treatments offer diminishing returns.

Infrastructure investments are also following this trend. Hospitals and research institutions are building out radiopharmaceutical manufacturing capabilities, cyclotron installations, and specialized imaging labs to accommodate the rising demand for theranostic services. Training programs for nuclear medicine professionals, medical physicists, and theranostic oncologists are expanding, especially in Europe, North America, and Asia-Pacific. At the same time, collaborations between biotech firms, radiopharmaceutical companies, and academic centers are accelerating clinical trials and regulatory submissions. This integrated ecosystem is laying the groundwork for theranostics to become a standard component of cancer care rather than a last-resort treatment or research niche.

What's Fueling the Rapid Expansion of the Theranostics Market?

The growth in the theranostics market is driven by several interconnected factors grounded in clinical, technological, and economic trends. First, the increased incidence of cancer and neurodegenerative diseases is prompting healthcare systems to adopt more precise, efficient, and personalized treatment modalities. Second, rapid advancements in radiopharmaceuticals and companion diagnostics are enabling the development of disease-specific theranostic agents that offer dual functionality with reduced off-target effects.

Third, improvements in nuclear imaging infrastructure-including broader deployment of PET/SPECT scanners and digital imaging platforms-are making diagnostic-guided therapy more accessible across both developed and emerging markets. Fourth, growing investments from pharmaceutical companies and government bodies in precision medicine research are fueling pipeline innovation and fast-tracking clinical trials. Fifth, favorable regulatory pathways and fast-track designations for certain theranostic drugs-especially in oncology-are reducing time-to-market and encouraging commercial uptake. Lastly, the integration of AI and machine learning in image interpretation and treatment planning is improving diagnostic accuracy and optimizing therapy delivery. Collectively, these drivers are positioning theranostics as a pivotal force in next-generation, patient-centered healthcare.

Scope Of Study:

The report analyzes the Theranostics market in terms of units by the following Segments, and Geographic Regions/Countries:

Segments: Product (Theranostics Instruments, Theranostics Reagents, Theranostics Software); Technology (Genomics Technology, Proteomics Technology, Metabolomics Technology, Biomarkers Technology); Application (Oncology Application, Neurology Application, Cardiology Application, Infectious Diseases Application); End-Use (Hospitals End-Use, Diagnostic Laboratories End-Use, Research Institutes End-Use)

Geographic Regions/Countries: World; United States; Canada; Japan; China; Europe (France; Germany; Italy; United Kingdom; Spain; Russia; and Rest of Europe); Asia-Pacific (Australia; India; South Korea; and Rest of Asia-Pacific); Latin America (Argentina; Brazil; Mexico; and Rest of Latin America); Middle East (Iran; Israel; Saudi Arabia; United Arab Emirates; and Rest of Middle East); and Africa.

Key Insights:

• Market Growth: Understand the significant growth trajectory of the Theranostics Instruments segment, which is expected to reach US$2.7 Billion by 2030 with a CAGR of a 14.8%. The Theranostics Reagents segment is also set to grow at 16.3% CAGR over the analysis period.
• Regional Analysis: Gain insights into the U.S. market, estimated at $540.6 Million in 2024, and China, forecasted to grow at an impressive 20.1% CAGR to reach $997.9 Million by 2030. Discover growth trends in other key regions, including Japan, Canada, Germany, and the Asia-Pacific.

Why You Should Buy This Report:

• Detailed Market Analysis: Access a thorough analysis of the Global Theranostics Market, covering all major geographic regions and market segments.
• Competitive Insights: Get an overview of the competitive landscape, including the market presence of major players across different geographies.
• Future Trends and Drivers: Understand the key trends and drivers shaping the future of the Global Theranostics Market.
• Actionable Insights: Benefit from actionable insights that can help you identify new revenue opportunities and make strategic business decisions.

Key Questions Answered:

• How is the Global Theranostics Market expected to evolve by 2030?
• What are the main drivers and restraints affecting the market?
• Which market segments will grow the most over the forecast period?
• How will market shares for different regions and segments change by 2030?
• Who are the leading players in the market, and what are their prospects?

Report Features:

• Comprehensive Market Data: Independent analysis of annual sales and market forecasts in US$ Million from 2024 to 2030.
• In-Depth Regional Analysis: Detailed insights into key markets, including the U.S., China, Japan, Canada, Europe, Asia-Pacific, Latin America, Middle East, and Africa.
• Company Profiles: Coverage of players such as Abbott Laboratories, Agilent Technologies, Alpha9 Theranostics, Bayer AG, Beckman Coulter (Danaher) and more.
• Complimentary Updates: Receive free report updates for one year to keep you informed of the latest market developments.

Some of the 37 companies featured in this Theranostics market report include:

• Abbott Laboratories
• Agilent Technologies
• Alpha9 Theranostics
• Bayer AG
• Beckman Coulter (Danaher)
• Cardinal Health
• Curium Pharma
• GE HealthCare
• Illumina Inc.
• Lantheus Holdings
• Molecular Theranostics LLC
• Myriad Genetics
• Novartis AG
• Pfizer Inc.
• Philips HealthCare
• Qiagen N.V.
• Radiopharm Theranostics (RAD)
• RaySearch Laboratories
• Siemens Healthineers
• Telix Pharmaceuticals

This edition integrates the latest global trade and economic shifts as of June 2025 into comprehensive market analysis. Key updates include:

• Tariff and Trade Impact: Insights into global tariff negotiations across 180+ countries, with analysis of supply chain turbulence, sourcing disruptions, and geographic realignment. Special focus on 2025 as a pivotal year for trade tensions, including updated perspectives on the Trump-era tariffs.
• Adjusted Forecasts and Analytics: Revised global and regional market forecasts through 2030, incorporating tariff effects, economic uncertainty, and structural changes in globalization. Includes segmentation by product, technology, type, material, distribution channel, application, and end-use, with historical analysis since 2015.
• Strategic Market Dynamics: Evaluation of revised market prospects, regional outlooks, and key economic indicators such as population and urbanization trends.
• Innovation & Technology Trends: Latest developments in product and process innovation, emerging technologies, and key industry drivers shaping the competitive landscape.
• Competitive Intelligence: Updated global market share estimates for 2025, competitive positioning of major players (Strong/Active/Niche/Trivial), and refined focus on leading global brands and core players.
• Expert Insight & Commentary: Strategic analysis from economists, trade experts, and domain specialists to contextualize market shifts and identify emerging opportunities.
• Complimentary Update: Buyers receive a free July 2025 update with finalized tariff impacts, new trade agreement effects, revised projections, and expanded country-level coverage.