Pune, India, March 29, 2023 (GLOBE NEWSWIRE) -- The Insight Partners published latest research study on "Radiopharmaceutical Theranostics Market Size, Share, Revenue, Growth Strategy, Industry Trends and Forecast to 2028 – COVID-19 Impact and Global Analysis – by Product Type, Radioisotope, Source, Application, Indication, and End User," the global radiopharmaceutical theranostics market size is expected to grow from USD 1.81 billion in 2022 to USD 3.44 billion by 2028; it is estimated to record a CAGR of 11.3% from 2022 to 2028.
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The Radiopharmaceutical Theranostics Market is influenced by various factors that are driving its growth. Some of the key drivers of this market include:
Increasing Prevalence of Cancer: The rising incidence of cancer is one of the key drivers of the radiopharmaceutical theranostics market. As cancer rates continue to rise globally, the demand for radiopharmaceuticals that can diagnose and treat cancer is expected to increase.
Advancements in Imaging Technologies: Technological advancements in imaging technologies such as PET/CT and SPECT/CT have made it easier to diagnose and treat various diseases, including cancer. These advancements have increased the demand for radiopharmaceutical theranostics.
Growing Awareness of Personalized Medicine: Personalized medicine is gaining popularity, and radiopharmaceutical theranostics is an important component of personalized medicine. As patients become more aware of the benefits of personalized medicine, the demand for radiopharmaceutical theranostics is expected to increase.
Increasing Investments in Research and Development: The pharmaceutical industry is investing heavily in research and development to develop new radiopharmaceuticals for theranostic applications. This investment is expected to drive the growth of the radiopharmaceutical theranostics market.
Growing Government Support: Governments across the world are providing support for research and development in the field of radiopharmaceutical theranostics. This support is expected to drive the growth of the market, as it will lead to the development of new radiopharmaceuticals for various diseases.
These are some of the key drivers of the radiopharmaceutical theranostics market. Other factors such as the increasing geriatric population, rising healthcare expenditure, and the increasing demand for non-invasive diagnostic procedures are also expected to contribute to the growth of the market.
Global Radiopharmaceutical Theranostics Market Report Scope, Segmentations, Regional & Country Scope:
| Report Coverage | Details |
| Market Size Value in | USD 1.81 Billion in 2022 |
| Market Size Value by | USD 3.44 Billion by 2028 |
| Growth rate | CAGR of 11.3% from 2022 to 2028 |
| Forecast Period | 2022-2028 |
| Base Year | 2022 |
| No. of Pages | 185 |
| No. of Tables | 165 |
| No. of Charts & Figures | 90 |
| Historical data available | Yes |
| Segments covered | Product Type, Radioisotope, Source, Application, Indication, and End User |
| Regional scope | North America; Europe; Asia Pacific; Latin America; MEA |
| Country scope | US, UK, Canada, Germany, France, Italy, Australia, Russia, China, Japan, South Korea, Saudi Arabia, Brazil, Argentina |
| Report coverage | Revenue forecast, company ranking, competitive landscape, growth factors, and trends |
| Companies Covered | Bayer AG, GE HealthCare Technologies Inc, Curium, Lantheus Medical Imaging, Inc.; Telix Pharmaceuticals Ltd.; Cardinal Health Inc, Advanced Accelerator Applications S.A.; Jubilant Radiopharma, Theragnostics, and NuView Life Sciences |
| Key Research Capabilities | Global Market Assessment, Business Development Strategies, Competitive Landscape, Opportunity Analysis, Regional and Country Level Market Analysis, Market Entry Strategies, Market Dynamics, Risk and Return Assessments, Pricing Analysis, Market Size and Forecasting, Company Profiling, Value Chain Analysis, Expansion Strategies, SWOT Analysis, New Product Development |
| Global Radiopharmaceutical Theranostics Market Forecast to 2028 - Latest COVID-19 Analysis | https://www.theinsightpartners.com/covid-analysis-sample/TIPRE00024328/ |
Browse key market insights spread across 185 pages with 165 list of tables & 90 list of figures from the report, "Radiopharmaceutical Theranostics Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Product Type [Alpha Emitters, Beta Emitters, and Positron Emission Tomography (PET) Tracers], Radioisotope [Technetium-99, Gallium-68, Iodine-131, Iodine-123, 18F, Y-90, Lutetium (Lu) 177, Copper (Cu) 67, Copper (Cu) 64, and Others], Source (Nuclear Reactors and Cyclotrons), Application [Targeted Therapeutic (Rx) and Companion Diagnostic (DX)], Indication (Oncology, Cardiology, Neurology, and Others), and End User (Hospitals, Diagnostic Imaging Centers, Academic and Research Institutes, and Others)" in detail along with the table of contents: https://www.theinsightpartners.com/reports/radiopharmaceutical-theranostics-market
North America holds the largest share of the global radiopharmaceutical theranostics market. United States holds the largest market in the North America market. According to the Carcinoid Cancer Foundation, over 12,000 people in the country are diagnosed with a neuroendocrine tumor (NET) annually, and ~175,000 people are living with this diagnosis. The number of people diagnosed with NET has been increasing for years. Radiotheranostics is becoming a routine in patients with prostate cancer and neuroendocrine tumors. Recently introduced theranostic agents include pharmaceuticals targeting metastatic bone lesions, prostate cancer, and neuroendocrine tumors. Also, several other innovative products have been launched by market players to offer better treatment. For instance, in January 2021, Actinium Pharmaceuticals, Inc. collaborated with Astellas Pharma Inc. to develop novel targeted radiotherapies. Under this agreement, Actinium will utilize its Antibody Warhead Enabling (AWE) Platform to develop and characterize Astellas selected targeting agents labeled with the potent alpha-emitting radioisotope Actinium-225 (Ac-225). In addition, in September 2022, MD Anderson Cancer Center and Radiopharm Theranostics launched Radiopharm Ventures, LLC, a joint venture to develop novel radiopharmaceutical therapeutic products for cancer. Radiopharm Ventures brought together MD Anderson’s innovative and proprietary technologies in antigen discovery and molecular imaging with Radiopharm’s expertise in developing radiopharmaceutical products. The joint venture initially focused on developing four therapeutic products based on MD Anderson's intellectual property. In October 2022, NorthStar Medical Radioisotopes, LLC and Radiopharm Theranostics entered into a clinical supply agreement, under which NorthStar agreed to supply Radiopharm with Actinium-225. NorthStar Medical Radioisotopes, LLC is a global innovator engaged in developing, producing, and commercializing radiopharmaceuticals that are used in therapeutic applications and medical imaging, whereas Radiopharm Theranostics is a developer of a world-class platform of radiopharmaceutical products for both diagnostic and therapeutic applications. Radiopharm intends to use Actinium-225 in drug trials involving targeted alpha therapy in multiple disease areas. Such developments and collaborations bolster the radiopharmaceutical theranostics market in the US.
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Future Trends - Radiopharmaceutical Theranostics in Nuclear Medicine
According to the 2023 report by the Radiological Society of North America, nuclear medicine, specifically for its application in oncology, stands as one of the major areas for theranostics application for clinical and research purposes. Theranostics in nuclear medicine gathers researchers’ interest due to its benefits in molecular imaging and personalized medicine. It assists in the management of various diseases, improvement of the patient selection process, prediction of drug response and toxicity, determination of prognosis, and avoiding futile and costly/expensive examinations and treatments. The theranostic approach to nuclear medicine involves a combination of diagnostic imaging and therapy based on a radioactive drug; its primary focus is the diagnosis, while the secondary focus is the treatment of a tumor site. Radioiodine was the first theranostic radiopharmaceutical used in treating and imaging thyroid diseases. In radioiodine therapy, the radioisotope iodine-131 is a gamma and beta emitter, and the sodium-iodide symporter can directly mediate the gamma emitter to thyroid cells. Further, gamma and positron emitters (β+) are used in nuclear imaging. Gamma emitters such as technetium-99m or iodine-123 are used in SPECT imaging, whereas the use of gallium-68 and fluorine-18 in PET imaging can provide better resolution. Therefore, theranostics-based nuclear-targeted therapies are emerging as a useful tool for treating patients suffering from advanced neuroendocrine and gastroenteropancreatic tumors, such as neuroblastomas.
Global Radiopharmaceutical Theranostics Market: Segmental Overview
The global radiopharmaceutical theranostics market, by product type, is segmented into positron emission tomography (PET) tracers, beta emitters, and alpha emitters. In 2022, the positron emission tomography (PET) tracers segment held the largest share of the market, and it is expected to register the fastest CAGR during the coming years. In terms of radioisotope, the radiopharmaceutical theranostics market is segmented into Lutetium (Lu) 177, Gallium-68, Iodine-131, Iodine-123, Technetium-99, Yttrium-90 (Y-90), Copper (Cu) 64, 18F, Copper (Cu) 67, and others. In 2022, the Lutetium (Lu) 177 segment held the largest share of the market, and it is expected to record the highest CAGR in the coming years. Based on source, the global radiopharmaceutical theranostics market is bifurcated into cyclotrons and nuclear reactors. In 2022, the cyclotrons segment held a larger share of the market, and it is expected to record a higher CAGR during the coming years. Based on application, the global radiopharmaceutical theranostics market is categorized into targeted therapeutic (Rx) and companion diagnostic (CDx). In 2022, the targeted therapeutic (Rx) segment held a larger share of the market, and it is expected to register a higher CAGR during the coming years. In terms of indication, the global radiopharmaceutical theranostics market is segmented into oncology, neurology, cardiology, and others. In 2022, the oncology segment held the largest share of the market, and it is expected to register the fastest CAGR during the coming years. The global radiopharmaceutical theranostics market, based on end user, is segmented as hospitals, diagnostic imaging centers, academic and research institutes, and others. In 2022, the hospitals segment held the largest share of the market. The market for the academic and research institutes segment is expected to grow at the fastest CAGR during the coming years.
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The global radiopharmaceutical theranostics market, based on application, is bifurcated into targeted therapeutic (Rx) and companion diagnostic (CDx). Targeted therapeutics have emerged as a promising strategy for treating harmful clinical conditions, such as cancer. For example, "radionuclide," a type of radiation therapy, uses a cell-targeting molecule such as a monoclonal antibody injected into the body. Further, the cell-targeting molecule binds to a specific target molecule on cancer cells, subsequently killing the targeted cancer cells; the mechanism ensures minimum harm to normal cells. Targeted therapeutics are used for treating prostate cancer and other types of cancers. This is well understood by the following case of targeting somatostatin receptors in neuroendocrine pancreatic tumors.
68Ga has been developed for somatostatin receptor imaging such as DOTATOC, DOTATATE, and DOTANOC. A somatostatin-receptor targeted therapy can be utilized for neoadjuvant therapy that renders inoperable pNET resectable by utilizing 177Lu-DOTATATE (27) and 90Y-DOTATATE (28). 90Y is a beta-emitting radionuclide best suited for bulky pancreatic tumors. Additionally, 177Lu-DOTATOC and 213Bi-DOTATOC have revealed relatively high biological effectiveness, and they are effectively responsible for decreasing the survival of pancreatic adenocarcinoma cells.
Global Radiopharmaceutical Theranostics Market: Competitive Landscape and Key Developments
Bayer AG; GE HealthCare Technologies Inc; Curium; Lantheus Medical Imaging, Inc.; Telix Pharmaceuticals Ltd.; Cardinal Health Inc; Advanced Accelerator Applications S.A.; Jubilant Radiopharma; Theragnostics; and NuView Life Sciences are among the leading companies operating in the global radiopharmaceutical theranostics market. These players are focusing on expanding, diversifying their market presence, and acquiring a novel customer base, thereby tapping prevailing business opportunities.
In November 2022, Lantheus Holdings, Inc. announced strategic collaboration agreements with POINT Biopharma Global Inc. for the Commercialization of PNT2002 and PNT2003.
In March 2022, Novartis received approval from the US Food and Drug Administration (FDA) for its PluvictoTM (lutetium Lu 177 vipivotide tetraxetan) (formerly referred to as 177Lu-PSMA-617) for the treatment of adult patients with a certain type of advanced cancer—prostate-specific membrane antigen–positive metastatic castration-resistant prostate cancer (PSMA-positive mCRPC)—spread to other parts of the body.
In October 2022, NuView Life Sciences, Inc—a clinical-stage precision oncology company focused on innovative approaches, such as theranostics, to diagnose and treat cancer—announced its plans to leverage its clinical-stage small molecule, NV-VPAC1, to advance its unique theranostic technology for precision diagnostics and targeted therapy. NV-VPAC1 binds directly to VPAC1 receptors found in high densities in breast cancer tumors. With FDA approval being sought, NV-VPAC1 shows the potential to provide tremendous benefits. Its prospective advantages include the ability to differentiate malignant breast lesions from benign ones, regardless of the level of density (BI-RADS) and the ability to improve the quality of life in patients while they are being diagnosed.
In February 2023, Bayer completed the acquisition of Blackford Analysis Ltd., a global strategic imaging AI platform and solutions provider. Bayer provides infrastructure and access to a rich clinical application ecosystem focused on imaging and analytics. The acquisition marked an important step in implementing its strategy to drive innovation in radiology by enabling the development and adoption AI within clinical workflows.
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Key Questions to Request for Radiopharmaceutical Theranostics Market:
- What is radiopharmaceutical theranostics?
- What are the driving factors for the radiopharmaceutical theranostics market across the globe?
- What is the market CAGR value of radiopharmaceutical theranostics market during forecast period?
- Which product type leads the radiopharmaceutical theranostics market?
- Which radioisotope held the largest share in the radiopharmaceutical theranostics market?
- Which source held the largest share in the radiopharmaceutical theranostics market?
- Which application held the largest share in the radiopharmaceutical theranostics market?
- Which indication held the largest share in the radiopharmaceutical theranostics market?
- Which end user held the largest share in the radiopharmaceutical theranostics market?
- Who are the key players in the radiopharmaceutical theranostics market?
- Which are the top companies that hold the market share in radiopharmaceutical theranostics market?
- Which region is expected to witness significant demand for radiopharmaceutical theranostics market in the coming years?
Go through further research published by The Insight Partners:
Radiopharmaceuticals Market - The global radiopharmaceuticals market size is projected to reach US$ 13,818.17 million by 2028 from US$ 7,550.74 million in 2021; it is expected to grow at a CAGR of 9.0% from 2021 to 2028.
Medical Cyclotron Market - The global medical cyclotron market size is expected to grow from US$ 202.34 million in 2022 to US$ 332.49 million by 2028; it is estimated to grow at a CAGR of 8.6% from 2022 to 2028.
Diagnostic Radiopharmaceutical Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Imaging Modality (Tc-99, Tl-201, Ga-67, I-123, F-18, Rb-82, Others); Application (Cardiology, Neurology, Thyroid, Others) and Geography
Positron Emission Tomography (PET) Scanners Market Forecast to 2028 - Covid-19 Impact and Global Analysis - by Product Type (Full-ring PET scanner, Partial-ring PET scanner); Application (Oncology, Cardiology, Neurology, Others); End User (Hospitals, Diagnostic Centers, Research Institutes)
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