Radiotheranostics Market – By Radioisotope (Iodine-131, Iodine-123, Gallium-68, Lutetium-177, 18F with Y-90), Approach (Targeted Therapeutic, Targeted Diagnostic), Application (Oncology, Non-Oncology), Global Forecast (2024 – 2032)

Radiotheranostics Market – By Radioisotope (Iodine-131, Iodine-123, Gallium-68, Lutetium-177, 18F with Y-90), Approach (Targeted Therapeutic, Targeted Diagnostic), Application (Oncology, Non-Oncology), Global Forecast (2024 – 2032)

Radiotheranostics Market Size

Radiotheranostics Market size was valued at around USD 2 billion in 2023 and is anticipated to register a CAGR of over 14.6% between 2024 and 2032. Radiotheranostics is a medical approach that combines the principles of radiotherapy and diagnostics utilizing radiopharmaceuticals for both therapeutic treatment and diagnostic imaging.

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This integrated approach allows for personalized and targeted management of various diseases particularly cancer and certain other conditions. Radiotheranostics involves the use of radiopharmaceuticals labeled with radioactive isotopes emitting radiation suitable for imaging and therapy. The increasing prevalence of cancer is a significant driver for the market.
 

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For instance, according to World Health Organization (WHO) in 2020, reported that cancer emerged as a prominent contributor to global mortality, claiming approximately 10 million lives globally. Thus, the demand for radiotheranostics offers a vital dual approach of precise diagnosis and targeted therapy to improved patient outcomes. Furthermore, market growth is attributed to multiple factors, including the growing use of radiotheranostics in cancer diagnostics, which estimated to reach USD 324 billion by 2032, and management and increasing trend of nuclear medicine.

Radiotheranostics Market Trends

The growing utilization of radiotheranostics in cancer diagnostics and management provides a host of advantages that revolutionize oncological care. Embracing precision medicine principles, radiotheranostics seamlessly integrates diagnostic imaging and therapeutic interventions via radiopharmaceuticals presenting a multifaceted approach to cancer management.

A cornerstone of its effectiveness lies in precision and personalization, meticulously targeting specific molecular markers intricately linked with cancer cells. This precision empowers clinicians to deliver individualized diagnoses and meticulously tailored treatment strategies, optimizing therapeutic efficacy and patient outcomes.

• Radiotheranostic imaging techniques, such as positron emission tomography (PET) and single photon emission computed tomography (SPECT) scans, enable early detection of cancerous lesions and metastases, facilitating timely intervention and improving patient prognosis.
• It also allows for real-time monitoring of treatment response enabling clinicians to adjust therapy as needed based on tumor response. This helps optimize treatment outcomes and minimize side effects.
• Additionally, radiotheranostics selectively delivers radiation therapy to cancerous tissues, sparing healthy tissues, reducing toxicity, and improving patient quality of life. Integration of diagnostic imaging with therapy streamlines care, enabling faster diagnosis, treatment initiation, and better patient outcomes.

Radiotheranostics Market Analysis

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Based on radioisotope, the market is bifurcated into iodine-131, iodine-123, gallium-68, lutetium-177, 18F with Y-90, and other radioisotopes. The lutetium-177 segment held the market size of USD 751.2 million in 2023.

• Lutetium-177 (Lu-177) emits beta radiation, known for its short range in tissue. This property allows it to effectively target small to medium-sized tumors while minimizing damage to surrounding healthy tissues. This targeted therapy approach can lead to effective tumor control and symptom relief in patients with neuroendocrine tumors (NETs) and other Lu-177-sensitive tumors.
• It can be paired with diagnostic imaging agents such as gallium-68 or indium-111 labeled somatostatin analogs for theranostic purposes. This dual-modality approach allows for pre-therapeutic imaging to assess tumor targeting and post-therapeutic imaging to monitor treatment response, aiding in treatment planning and optimization.

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Based on approach, the radiotheranostics market is segmented into targeted therapeutic and targeted diagnostic. The targeted therapeutic segment is expected to reach a market size of USD 4 billion by 2032.

• Targeted therapeutics specifically aim at molecular or genetic abnormalities present in cancer cells. By focusing on these specific targets, treatment can be personalized to the individual patient's tumor biology, leading to more effective outcomes.
• Traditional cancer treatments such as chemotherapy can affect healthy cells along with cancerous ones leading to significant side effects. Targeted therapeutics in radiotheranostics however minimize damage to healthy tissues, resulting in fewer adverse effects and improved quality of life for patients.
• Further, many targeted therapeutics in radiotheranostics are designed to have both diagnostic and therapeutic capabilities. This dual functionality allows for better patient management, as the same agent can be used for both identifying tumor sites and delivering treatment.

Based on application, the radiotheranostics market is segmented into oncology and non-oncology. Further, oncology segment is bifurcated into thyroid cancer, neuroendocrine tumors       , hepatocellular carcinoma, prostate cancer, and other oncology applications. The non-oncology is segmented into neurological disorders, arthritis, and other non-oncology applications. The oncology segment held a market size of USD 1.4 billion in 2023.

• Radiotheranostic techniques provide precise imaging of tumors allowing for accurate diagnosis, staging, and characterization of cancerous lesions. This precision aids in treatment planning and monitoring disease progression.
• It enables personalized treatment strategies tailored to individual patients based on their tumor biology and specific molecular characteristics. This personalized approach improves treatment outcomes by optimizing therapy to target the unique features of each patient's cancer.
• Additionally, radiotheranostic agents can be used for both diagnostic imaging and therapeutic purposes, allowing for seamless integration of diagnosis and treatment in a single procedure. This dual-modality approach streamlines patient care, improves efficiency, and reduces the need for additional imaging studies.

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North America radiotheranostics market accounted for USD 798.3 million revenue in 2023 and is predicted to witness substantial market growth.

• The region boasts a well-developed healthcare infrastructure with state-of-the-art facilities, advanced imaging equipment, and skilled healthcare professionals. This infrastructure supports the widespread adoption and implementation of radiotheranostic techniques in clinical practice.
• The increasing incidence of cancer has emerged as a significant concern. As per the Centers for Disease Control and Prevention (CDC), in 2020, there were 1,603,844 cases of cancer, resulting in 602,347 deaths in U.S.
• Further, North America is home to numerous research institutions, academic centers, and pharmaceutical companies at the forefront of radiotheranostic research and development. These institutions drive innovation, leading to the discovery of new radiopharmaceuticals, imaging modalities, and therapeutic approaches.

Radiotheranostics Market Share

The  radiotheranostics industry is competitive in nature, with several large multinationals and small and mid-sized companies competing in the industry. The development and launch of novel advanced products and services based on different technologies is among a key market strategy. Some of the leading industry players have a notable presence in the market.

Radiotheranostics Market Companies

Some of the eminent market participants operating in the radiotheranostics industry include

• Life Healthcare Group                             
• Nordic Nanovector ASA                          
• Novartis AG                      
• Progenics Pharmaceuticals, Inc.                        
• Q BioMed Inc.                   
• QSAM Biosciences, Inc.                          
• RadioMedix                       
• Radiopharm Theranostics Limited                      
• Telix Pharmaceuticals Limited                           
• Terumo Corporation                

Radiotheranostics Industry News

• In March 2023, Radiopharm Theranostics announced the acquisition of Pharma15 Corporation, a US-based venture specializing in the development of next-generation therapeutic radiopharmaceuticals for prostate cancer. This strategic move provided Radiopharm Theranostics with access to advanced technologies and expertise in prostate cancer treatment, expanding its portfolio and strengthening its market position in radiotheranostics.
• In June 2023, Nordic Nanovector announced its acquisition of Thor Medical, an emerging producer of alpha-emitters for radiopharmaceuticals aimed at cancer treatment. This strategic move bolstered Nordic Nanovector's capabilities by integrating Thor Medical's expertise and technology in alpha-emitters, thereby expanding its product portfolio and strengthening its market position in the field of cancer therapy.

Radiotheranostics market research report includes an in-depth coverage of the industry with estimates & forecast in terms of revenue in USD Million from 2021 – 2032 for the following segments

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Market, By Radioisotope

• Iodine-131
• Iodine-123
• Gallium-68
• Lutetium-177
• 18F with Y-90
• Other radioisotopes

Market, By Approach

• Targeted therapeutic
• Targeted diagnostic

Market, By Application

• Oncology      
  • Thyroid cancer        
  • Neuroendocrine tumors     
  • Hepatocellular carcinoma   
  • Prostate cancer       
  • Other oncology applications
• Non-oncology
  • Neurological disorders
  • Arthitis
  • Other non-oncology applications

The above information is provided for the following regions and countries

• North America
  • U.S.
  • Canada
• Europe
  • Germany
  • UK
  • France
  • Spain
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • Australia
  • South Korea
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Argentina
  • Mexico
  • Rest of Latin America
• Middle East and Africa
  • South Africa
  • Saudi Arabia
  • UAE
  • Rest of Middle East and Africa