Global Theranostics Market: An Overview

Theranostics is a new field of medicine which relies on targeted therapies to conduct specific targeted tests. These tests are mainly used for various forms of cancers. The key concern in the therapeutics involve patient centric care with the help of more personalised and precise approach. The technique relies on the use of diagnostic and therapeutic applications to form a single agent. The system is known to improve drug delivery, diagnosis, and treatment response monitoring which are key benefits for end-users. The growing incidences of cancers, and increasing need for a combination of therapies for cancers are expected to drive considerable growth for the theranostics market in the near future.

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Theranostics Market: Notable Developments

The FDA has approved Mayo Clinic’s new facility in Florida. The facility aims to provide positron emission tomography radiochemistry. The facility plans on conducting various tests include FDA-approved radiotracers and new research. The facility will also conduct various theranostics which are expected to aid help patients with metastatic neuroendocrine tumours. Currently, the facility offers a multispecialty approach which will provide the therapy to over a hundred patients in 2019. The therapy received FDA approval in 2018 and promises a boon for patients with metastatic prostate cancer.

Nihon Medi-Physis or NMP, the largest radiopharmaceutical company in Japan announced an investment JPY3.3Billion for a new research facility catering to theranostics. The program is expected to accelerate processes to establish theranostics*1 or diagnostics. The NMP center promises to utilize a combination of image/therapy regimes using common molecules. Using antibodies or Peptide, the center promises to advance drug delivery system for cancer patients.

Theranostics Market: Drivers and Restraints

The theranostics market is expected to drive robust growth as cancer incidences continue to rise and side-effects of procedures like chemotherapy continue to prove challenging for clinicians. Moreover, post-cancer treatment also promises lucrative growth as recovery is often slow and takes considerable time away from patients to get back to normal routines. The growth of various cancers like brain, kidney, liver, breast among others promises several opportunities for players in the theranostics market. Additionally, growing research and development and promising approvals in the FDA pipeline are also expected to remain key drivers of growth in the theranostics market.

High costs of therapy and their still experimental nature are expected to remain major barriers to growth. Additionally, in regions like North America, healthcare costs and lack of awareness about post-cancer treatments are expected to remain challenges. However, rising awareness are expected to create new opportunities for players in the theranostics market.

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Theranostics Market: Geographical Analysis

Theranostics market in North America region is expected to register notable growth in the near future. The rising cases of cancers, growing awareness, and expanding care options are expected to remain main drivers of growth in the theranostics market. The theranostics market in Asia Pacific is also expected to witness considerable growth as rising disposable income, large population, and increasing access to healthcare are expected to drive considerable growth in the near future. Rising elderly population, technologically advanced healthcare systems, and options like universal care are expected to drive significant growth in Europe region as well.

The report offers a comprehensive evaluation of the market. It does so via in-depth qualitative insights, historical data, and verifiable projections about market size. The projections featured in the report have been derived using proven research methodologies and assumptions. By doing so, the research report serves as a repository of analysis and information for every facet of the market, including but not limited to: Regional markets, technology, types, and applications.

The study is a source of reliable data on:

  • Market segments and sub-segments
  • Market trends and dynamics
  • Supply and demand
  • Market size
  • Current trends/opportunities/challenges
  • Competitive landscape
  • Technological breakthroughs
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The regional analysis covers:

  • North America (U.S. and Canada)
  • Latin America (Mexico, Brazil, Peru, Chile, and others)
  • Western Europe (Germany, U.K., France, Spain, Italy, Nordic countries, Belgium, Netherlands, and Luxembourg)
  • Eastern Europe (Poland and Russia)
  • Asia Pacific (China, India, Japan, ASEAN, Australia, and New Zealand)
  • Middle East and Africa (GCC, Southern Africa, and North Africa)

The report has been compiled through extensive primary research (through interviews, surveys, and observations of seasoned analysts) and secondary research (which entails reputable paid sources, trade journals, and industry body databases). The report also features a complete qualitative and quantitative assessment by analyzing data gathered from industry analysts and market participants across key points in the industry’s value chain.

A separate analysis of prevailing trends in the parent market, macro- and micro-economic indicators, and regulations and mandates is included under the purview of the study. By doing so, the report projects the attractiveness of each major segment over the forecast period.

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  • Market segmentation up to the second or third level
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  • Reporting and evaluation of recent industry developments
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Theranostics Market

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