PUBLISHER: The Business Research Company | PRODUCT CODE: 1353696
PUBLISHER: The Business Research Company | PRODUCT CODE: 1353696
“Radiotheranostics Global Market Report 2023 ” from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on radiotheranostics market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for radiotheranostics? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? “The radiotheranostics market global report ” from The Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
Major players in the radiotheranostics market are: Lantheus Holdings Inc., Cardinal Health Inc., GE Healthcare Inc., Bayer AG, Novartis AG, Siemens Healthineers, Boston Scientific Corporation, Terumo Corporation, Orano Med, Curium SAS, IBA Molecular, The Eckert & Ziegler Group, Advanced Accelerator Applications (AAA), Telix Pharmaceuticals Limited., Abdera Therapeutics, Blue Earth Diagnostics, Sirtex Medical Limited, Y-mAbs Therapeutics Inc., ITM Radiopharma, NorthStar Medical Radioisotopes LLC, Trasis S.A., Molecular Targeting Technologies Inc., RadioMedix Inc, Clarity Pharmaceuticals, Actinium Pharmaceuticals Inc., and Navidea Biopharmaceuticals Inc.
The global radiotheranostics market is expected to grow from $6.60 billion in 2022 to $7.57 billion in 2023 at a compound annual growth rate (CAGR) of 14.7%.The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The radiotheranostics market is expected to reach $12.85 billion in 2027 at a CAGR of 14.1%.
The radiotheranostics market consists of sales of iodine-125, radium-223 (223Ra), astatin-211 (211At), actinium-225 (225Ac), lead-212 (212Pb), bismuth-212 (212Bi), thorium-227, strontium-89 (89Sr), rhenium-188 (188Re), and samarium-153 (153Sm). Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
Radiotheranostics refers to diagnoses and treatments that utilize imaging methods with radioactive substances to pinpoint specific targets in the body. It is used to administer targeted radiation therapy to defined locations, allowing for precise and tailored cancer treatment while minimizing harm to healthy tissues to enhance treatment results and patient care.
North America was the largest region in the radiotheranostics market in 2022. The regions covered in radiotheranostic report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The main radio theranostics radioisotopes are technetium-99, gallium-68, iodine-131, iodine-123, fludeoxyglucose-18F, yttrium-90, lutetium (Lu) 177, copper (Cu) 67, copper (Cu) 64, and others. Technetium (Tc) is a silver-gray radioactive metal that exists naturally at extremely minute levels in the earth's crust but is mostly man-made and is used to scan the skeleton and heart muscle, but it is also utilized to picture the brain, thyroid, and lungs, liver, spleen, kidney, gall bladder, bone marrow, salivary and lachrymal glands, and some specialized medical research. The various approaches are targeted therapeutic and targeted diagnostic that is applied in oncology, and non-oncology. The end users are hospitals and clinics, pharmaceutical and biotechnology companies, and others.
The increasing prevalence of cancer is expected to propel the growth of the radiotheranostics market going forward. Cancer is a condition in which some cells in the body develop uncontrollably and spread to other regions of the body. Radiotheranostics medicines are commonly employed in cancer to offer the ultimate notion of customized medicine by using paired diagnostic and therapeutic radionuclide probes for the selective and targeted detection and treatment of specific (typically cancer) cells, each of which is suited to the patient's underlying condition to enhance treatment efficiency and better clinical output. For instance, according to Cancer Research UK, a UK-based cancer research organization, approximately 18 million new cancer cases were detected in 2020. Further, there would be 28 million new cancer cases globally each year by 2040, a 54.9% increase over 2020, and is predicted to be more prominent in males (60.6% increase) than girls (48.8% increase). Therefore, the increasing prevalence of cancer drives the radiotheranostics market.
Product innovations are a key trend gaining popularity in the radiotheranostics market. Significant companies are concentrating their efforts on creating innovative products to strengthen their position in the market. For instance, in May 2023, Advanced Cyclotron Systems Inc., a Canada-based company that supplies and services cyclotrons predominantly used for producing medical isotopes, introduced TR-ALPHA for producing alpha-emitting radioisotopes to treat cancer. It is an appropriate solution to the market demand for a low-cost cyclotron capable of producing vast amounts of Astatine-211, one of the most promising alpha-emitting radioisotopes. The TR-ALPHA is also far smaller, less costly, and simpler to run than previous cyclotron models capable of manufacturing alpha-emitting radioisotopes. It is the ideal solution for hospitals, researchers, and institutions interested in running a dedicated cyclotron to efficiently produce enormous amounts of therapeutic alpha-emitting radioisotopes.
In June 2023, Ariceum Therapeutics GmbH, a Germany-based radiopharmaceutical company, acquired Theragnostics Ltd. for $41.5 million. With the acquisition, Ariceum aims to broaden its portfolio of therapeutic and diagnostic assets in late preclinical and early clinical development and to extend its operations in the US. Theranostics Ltd. is a US-based radiopharmaceutical company that offers radio-theranostics.
The countries covered in the radiotheranostics market report are: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
The radio theranostics market research report is one of a series of new reports from The Business Research Company that provides radio theranostics market statistics, including radio theranostics industry global market size, regional shares, competitors with a radio theranostics market share, detailed radio theranostics market segments, market trends, and opportunities, and any further data you may need to thrive in the radio theranostics industry. This radio theranostics market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.