Radiotheranostics Market size was over USD 2.32 billion in 2024 and is anticipated to reach USD 13.19 billion by the end of 2037, growing at around 14.3% CAGR during the forecast period i.e., between 2025-2037. In the year 2025, the industry size of radiotheranostics is assessed at USD 2.59 billion.
One major factor driving market expansion is the growing trend of personalized medicines in the management of cancer. The idea of individualized medicine in cancer treatment has also been influenced by developments in diagnostics, treatment options, and our understanding of cancer biology. The most recent estimates, there has been an over 75,000 genetic testing kits and 300 tailored medications are available for use by patients with various chronic and infectious diseases, uncommon genetic diseases, and malignancies.
Additionally, there will probably be new market opportunities due to pharmaceutical companies' increased efforts to produce novel radiotheranostics with longer half-lives and improved treatment outcomes. For example, ITM reported in April 2022 that patient recruitment for their phase III study, COMPETE, with its primary candidate, targeted radionuclide therapy, ITM-11, had been successfully completed. Additionally, Pluvicto (Lu177), which Novartis announced was approved by the FDA in March 2022, can be used to treat adult patients with specific types of metastatic tumors.
Growth Drivers
Challenges
Base Year |
2024 |
Forecast Year |
2025-2037 |
CAGR |
14.3% |
Base Year Market Size (2024) |
USD 2.32 billion |
Forecast Year Market Size (2037) |
USD 13.19 billion |
Regional Scope |
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Approach Outlook (Targeted Therapeutic, Targeted Diagnostic)
The targeted therapeutic segment in the radiotheranostics market is anticipated to hold largest revenue share of about 52% during the forecast period. Utilizing radiopharmaceuticals for targeted therapy is part of the targeted therapeutic approach in the radiotheranostics sector. The market expansion is influenced by the fact that these radiopharmaceuticals are made to target and deliver radiation to certain disease targets or cancer cells within the body. Roughly 10 million deaths, or roughly one in six deaths, globally will be attributable to cancer in 2020. Additionally, by combining a therapeutic radioactive ingredient with a targeting molecule, like peptides or antibodies, radiopharmaceuticals can bind to tumor cells specifically and deliver a therapeutic dose of radiation to kill or stop the growth of cancer cells, which is what is driving the segment’s expansion in the market.
Radioisotopes (Iodine-131, Iodine-123, Gallium-68, Lutetium-177, 18F with Y-90)
The lutetium-177 segment is expected to hold 30% share of the global radiotheranostics market during the forecast period. The market's increasing LU-177 product availability and uptake is fuelling the Lutetium-177 segment's rise. Furthermore, compared to other therapeutic isotopes, Lu-177 has a longer half-life, allowing for a longer course of treatment and possibly better patient outcomes. For example, L-177 has a physical half-life of 6.7 days, according to Springer. Additionally, new product releases and recent product approvals have accelerated the segment's growth. For example, in December 2022, the European Commission approved Novartis's Pluvicto-targeted radioligand therapy for the treatment of prostate cancer.
Our in-depth analysis of the global radiotheranostics market includes the following segments:
Radioisotopes |
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Approach Outlook |
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Application |
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North American Market Forecast
The radiotheranostics market in the North America region is projected to account for 30% of the revenue share during the forecast period. The North America radiotheranostics market is being driven by the increasing use of effective imaging technologies, a growing trend toward precision medicine, and a strong need for therapeutic radiopharmaceuticals. Growing national investments to facilitate a precision medicine approach are anticipated to propel the regional growth in the market Similarly, the Consolidated Appropriations Act, of 2022 awarded USD 6.9 billion to the National Cancer Institute (NIC) based on data from March 2022. This represents a USD 353 million net increase over FY 2021. The FY 2022 budget includes USD 50 million for the Childhood Cancer Data Initiative and USD 194 million for the Cancer Moonshot. Furthermore, a multitude of industry participants and their diverse strategic endeavors are propelling the sector in the area. For example, Ratio Therapeutics Inc. stated in March 2023 that it had licensed a targeted drug from Merck that was utilized in PET imaging.
APAC Market Statistics
The radiotheranostics market in the Asia Pacific region is attributed to hold the second largest revenue share of about 27% during the forecast period. The primary drivers of regional market growth are the high cancer prevalence in the area and rising investments in nuclear medicine. As an example, Global Medical Solutions, Ltd. and BWXT Medical Ltd. announced in March 2021 that they would be collaborating to manufacture and provide radiopharmaceuticals and radioisotopes throughout the Asia-Pacific area. The market acceptance in APAC is also being accelerated by a rise in nuclear imaging procedures in the area.
Author Credits: Radhika Pawar
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