Radiotheranostics Market worth $3.86 Bn by 2030 - Exclusive Report by InsightAce Analytic

JERSEY CITY, N.J., Dec. 14, 2022 /PRNewswire/ -- InsightAce Analytic Pvt. Ltd. announces the release of market assessment report on "Global Radiotheranostics Market By radioisotope (technetium-99, gallium-68, iodine-131, iodine-123, 18F, y-90, lutetium (lu) 177, copper (Cu) 67, copper (Cu) 64, others), Source (Nuclear Reactors, Cyclotrons), Approach (Targeted Therapeutic (Rx), Companion Diagnostic (DX)), Applications (Oncology (Thyroid Cancer, Neuroendocrine Cancer, Hepatocellular Carcinoma, Multiple Myeloma, Lymphoma, Others) And Non-Oncology (Joint Infections, Arthritis, Bone Pain, Others)) And End Users (Hospitals & Clinics, Pharmaceutical & Biotechnology Companies And Others))– By Trends, Industry Competition Analysis, Revenue and Forecast Till 2030"

According to the latest research by InsightAce Analytic, the global radiotheranostics market size valued at US$ 1.55 billion in 2021 and it is expected to reach US$ 3.86 billion in 2030, recording a promising CAGR of 10.90% during the period of 2020-2030.

The prominent players involved in the Radiotheranostics market are TransCode Therapeutics, Inc., Curium SAS, Affibody Medical AB, GE Healthcare Inc., MIM Software Inc., Bayer AG, Radiopharm Theranostics, Lantheus Medical, Imaging, Inc., Novartis AG, Spectrum Pharmaceuticals, Inc., Ipsen S.A., Actinium Pharmaceuticals, Inc. (ATNM), Nordic Nanovector ASA, Y-mAbs Therapeutics, Inc., Sofie Biosciences, Inc., Terumo Corporation, Sirtex Medical Limited, Boston Scientific Corporation, Nihon Medi-Physics, ITM Isotopen Technologien München AG, Advanced Accelerator Applications, Telix Pharmaceuticals, TRIMT GmbH, Theragnostics Ltd., NuView Life Sciences, Jubilant Pharma Limited, and Clarity Pharmaceuticals.

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The market is being stimulated by the expanding use of radiotheranostics in cancer diagnosis and management. Additionally, recent research and developments in the field of radiotheranostics are having a positive impact on market growth. For example, there have been significant outcomes in radiotheranostics for prostate cancer and neuroendocrine tumors. Radiotheranostics also have improved therapeutic efficacy and the ability to manage adverse and critical health situations, which results in improved patient outcomes. The market is anticipated that more radiotheranostics pairs will be used for cancer treatments as a result of regulatory approval.

However, the market expansion is hindered by high costs associated with research and development capabilities, a lack of adequate infrastructure, a short half-life for radiopharmaceuticals, high equipment prices, and a lack of knowledge in developing nations. Along with these factors, hospital budget cuts, particularly during the pandemic, a lack of appropriate infrastructure in low- and middle-income countries, and an unfavourable reimbursement scenario and technology penetration in developing economies are anticipated to provide market challenges.

Radiotheranostics is a subgroup of theranostics that includes a radioactive component for diagnostic imaging and treatment. Radiotheranostic medicine complies with the utmost concept of personalized medicine by implementing paired diagnostic/therapeutic radionuclide probes for the selective and targeted diagnosis and treatment of specific (usually cancer) cells, each of which is customized to the patient's specific underlying disease. Recently, there have been significant and promising advances in radiotheranostics for neuroendocrine tumours, prostate cancer, and other disorders. A number of radiotheranostic pairings are expected to get regulatory clearance in the near future. Radiotheranostics have improved therapeutic efficacy and the capacity to handle difficult and life-threatening medical conditions, which leads to better patient outcomes. Hence, The market expansion is being supported by ongoing investment in research and development to keep up with the current wave of radiotheranostics developments.

The North America radiotheranostics market is expected to register a significant market share. The market in North America is driven by the high prevalence of neuroendocrine tumors (NETs). The North American market is established due to the widespread adoption of flow cytometry technology across large end users. Besides, Asia Pacific had a substantial share in the Radiotheranostics market. Due to the rise in federal programs to spread awareness, the increase in medical tourism, the expansion of research activities in the region, the presence of significant market players, the availability of vast untapped markets, a large population pool, the availability of well-established infrastructure, the rise in cardiovascular disease cases, and the expanding demand for high-quality healthcare in the region.

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Key Industry Developments:

• In Oct 2022, Clarity Pharmaceuticals announced that the first patient in its Phase I/II theranostic trial, which is testing 64Cu/67Cu SAR-bisPSMA theranostic products in people with metastatic, castrate-resistant prostate cancer, has been given a dose (mCRPC). The promising preclinical and clinical results so far support Clarity's investigation of the optimised SAR-bisPSMA product in additional oncology indications where the theranostic approach may be useful.
• In May 2022, TransCode Therapeutics, Inc. announced the execution of an option agreement under which TransCode will have the right to negotiate an exclusive, worldwide, royalty-bearing licence for a radiotheranostic technology disclosed in patent application PCT/US2021/057912 entitled THERAPEUTIC, RADIOLABLED NANOPARTICLES AND METHODS OF USE THEREOF.
• In March 2022, Novartis announced that the US Food and Drug Administration (FDA) had approved PluvictoTM (lutetium Lu 177 vipivotide tetraxetan), which used to be called 177Lu-PSMA-617, to treat adults with a type of advanced cancer called prostate-specific membrane antigen–positive metastatic castration-resistant prostate cancer (PSMA-positive mCRPC) that has spread to other parts of the body (metastatic). These patients have already been provided other treatments for cancer (androgen receptor pathway inhibition and taxane-based chemotherapy).
• In June 2021, At the Society of Nuclear Medicine and Molecular Imaging's (SNMMI) 2021 summer conference, GE Healthcare demonstrated innovative molecular imaging technologies and solutions and new prospects to improve access to radioactive tracers and other pharmaceutical imaging agents. This increased access to the most advanced and innovative precision diagnostics and radiopharmaceuticals, particularly in light of recent FDA approvals of critical new therapies, can provide clinicians with unique opportunities to make personalised care decisions and treatment response assessments that may help improve patient outcomes.

Market Segments

Global Radiotheranostics Market Size (Value US$ Mn) & Forecasts and Trend Analyses, 2022 to 2030 based on Radioisotope

• Technetium-99
• Gallium-68
• Iodine-131
• Iodine-123
• 18F
• Y-90
• Lutetium (Lu) 177
• Copper (Cu) 67
• Copper (Cu) 64
• Others

Global Radiotheranostics Market Size (Value US$ Mn) & Forecasts and Trend Analyses, 2022 to 2030 based on Source      

• Nuclear Reactors
• Cyclotrons

Global Radiotheranostics Market Size (Value US$ Mn) & Forecasts and Trend Analyses, 2022 to 2030 based on Approach            

• Targeted Therapeutic (Rx)
• Companion Diagnostic (DX)

Global Radiotheranostics Market Size (Value US$ Mn) & Forecasts and Trend Analyses, 2022 to 2030 based on Application         

• Oncology
• Thyroid Cancer
• Neuroendocrine Cancer
• Hepatocellular Carcinoma
• Multiple Myeloma
• Lymphoma
• Others
• Non-Oncology
• Joint Infections
• Arthritis
• Bone Pain
• Others

Global Radiotheranostics Market Size (Value US$ Mn) & Forecasts and Trend Analyses, 2022 to 2030 based on End User

• Hospitals & Clinics
• Pharmaceutical & Biotechnology Companies
• Others

Global Radiotheranostics Market Market Size (Value US$ Mn) & Forecasts and Trend Analyses, 2022 to 2030 based on Region

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East & Africa

North America Radiotheranostics market revenue (US$ Million) by Country, 2022 to 2030

• U.S.
• Canada

Europe Radiotheranostics market revenue (US$ Million) by Country, 2022 to 2030

• Germany
• France
• Italy
• Spain
• Russia
• Rest of Europe

Asia Pacific Radiotheranostics market revenue (US$ Million) by Country, 2022 to 2030

• India
• China
• Japan
• South Korea
• Australia & New Zealand

Latin America Radiotheranostics market revenue (US$ Million) by Country, 2022 to 2030

• Brazil
• Mexico
• Rest of Latin America

Middle East & Africa Radiotheranostics market revenue (US$ Million) by Country, 2022 to 2030

• GCC Countries
• South Africa
• Rest of Middle East & Africa

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Why should buy this report:

• To receive a comprehensive analysis of the prospects for global Radiotheranostics market
• To receive industry overview and future trends of global Radiotheranostics market
• To analyse the Radiotheranostics market drivers and challenges
• To get information on Radiotheranostics market size value (US$ Mn) forecast till 2030
• Major Investments, Mergers & Acquisition in global Radiotheranostics market industry

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