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August 2025
The global theranostics market size is calculated at US$ 2.42 billion in 2024, grew to US$ 2.8 billion in 2025, and is projected to reach around US$ 10.21 billion by 2034. The market is expanding at a CAGR of 15.46% between 2025 and 2034.
Due to growing instances of different cancer cases, mainly in the US, China, India, and Japan, are boosting the adoption of advanced diagnostic technologies for early detection, with effective treatment strategies. Besides this, other concerns, like neurological diseases, prostate cancer are assisting in widespread utilization of radiopharmaceuticals. Around the world, numerous pharmaceutical and technological companies are involved in the transformation of various diagnostic imaging technologies, such as PET/SPECT imaging agents, radiopharmaceuticals, targeted nanoparticles, and biomarker-guided therapies.
| Table | Scope |
| Market Size in 2025 | USD 2.8 Billion |
| Projected Market Size in 2034 | USD 10.21 Billion |
| CAGR (2025 - 2034) | 15.46% |
| Leading Region | North America Share 40% |
| Market Segmentation | By Product Type, By Technology, By Application, By End User, By Region |
| Top Key Players | GE HealthCare, Siemens Healthineers AG, Thermo Fisher Scientific Inc., Bracco Imaging S.p.A., Bayer AG, Novartis AG, Lantheus Holdings, Inc., Telix Pharmaceuticals Limited, Curium Pharma, Jubilant Radiopharma, Advanced Accelerator Applications S.A., Cardinal Health, Inc., Blue Earth Diagnostics Ltd., ITM Isotope Technologies Munich SE, NanoString Technologies, Inc., Roche Diagnostics, Philips Healthcare, Nihon Medi-Physics Co., Ltd., Endocyte, Inc., NorthStar Medical Radioisotopes, LLC |
The theranostics market refers to the integration of targeted diagnostics and therapeutic interventions into a unified approach to patient care, enabling simultaneous disease detection, therapy selection, and treatment monitoring. This field bridges molecular imaging, biomarkers, and targeted drug delivery to achieve precision medicine. Theranostic applications are particularly significant in oncology, neurology, cardiology, and rare diseases, where companion diagnostics can guide personalized treatment regimens. Technologies such as PET/SPECT imaging agents, radiopharmaceuticals, targeted nanoparticles, and biomarker-guided therapies form the backbone of theranostic strategies. The approach improves treatment efficacy, minimizes adverse effects, and enables real-time monitoring of therapeutic response.
Across the globe, AI algorithms play a revolutionary role in the respective market. In this market, AI algorithms are increasingly expanding the precision medicine area, particularly in cancer treatment. Alongside, AI is acting as a significant component in the optimization of radiation therapy, in which it assists in the analysis of patient anatomy and tumor properties, with enhanced treatment accuracy and reduced harm to healthy tissues.
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Expansion in Technologies and Non-Oncological Applications
Currently, worldwide going through technological advancements, and other novel developments are also fueling the growth of the theranostics market. Primarily, consistency in technological innovations, such as in diagnostic imaging like PET, SPECT, MRI, as well as molecular diagnostics, and nanotechnology, is influencing overall development and accelerating the applications of theranostics. Additionally, the market is further driven by a rise in applications of theranostics in non-oncological conditions, mainly in cardiovascular diseases, neurological disorders, and infectious diseases.
High Infrastructure Expenditure
The theranostics market has certain limitations in its development, especially the requirement of high expenses in the integration of theranostics into healthcare facilities, as well as specialized equipment and personnel training, which are creating a crucial hindrance to the market. Moreover, the need for well-trained healthcare professionals in molecular imaging, radiation therapy, and personalized medicine is another barrier to market transformation.
Developments in Imaging and Theranostic Agents
During 2025-2034, the increasing focus on AI and its related tools will enhance opportunities in the imaging area. Whereas, in this application, an integrated AI-based radiomics and nanotheranostics will boost the omission of restrictions involved in the tumor heterogeneity and limited accessibility. The theranostics market will present various opportunities, such as an increased emphasis on identifying and developing novel molecular targets for theranostic pairs, like HER2 in breast and gastrointestinal cancers, and FAP-based radionuclides for diverse cancers.
In 2024, the radiopharmaceuticals segment dominated the market by capturing a major share. As these kinds of products possess a targeting molecule (ligand) that binds to a specific receptor or antigen on cancer cells or other diseased tissues, this further assists in accurate delivery to the damaged site. Also, the growing investments in R&D of radiopharmaceuticals are widely impacting the adoption of these products in the world. They have broader applications in diagnostic imaging techniques, mainly in PET (Positron Emission Tomography) or SPECT (Single-Photon Emission Computed Tomography), which fosters early disease detection.
Although the immunotherapeutics segment is predicted to expand rapidly, as this product comprises various benefits, such as highly assisting in patient detection by coupling with diagnostics, it also offers meaningful insights into the immune system. This further accelerates the progression of novel immunotherapies. Along with this, immunotherapeutics encompasses some innovative approaches in the market, like the production of quantum dots, which are widely employed for cell labeling and in vivo imaging of immune cells, enabling the study of immune cell dynamics in cancer and regenerative medicine.
In the theranostics market, the molecular imaging segment led with a major share in 2024. The segment is propelled by ongoing advancements in customized medicine and the increasing demand for targeted therapies. This type of technology has a significant role in treatment monitoring, as it gives non-invasiveness, repetitive assessment of treatment response by visualizing modifications in target expression or drug accumulation.
Under this segment, the PET sub-segment held the dominating share of the market. The PET has numerous advantages over other techniques, such as being non-invasive, it can do whole-body imaging, providing quantitative data, and being versatile. Nowadays, PET has many applications in different health concerns, like cardiovascular conditions, prostate cancer, and brain tumors.
On the other hand, the nanoparticle-based theranostics segment is anticipated to register rapid growth in the theranostics market. This segment has immense importance in the targeted drug delivery system, where its nanoparticles help to attack a target efficiently. Further, these nanoparticles are encapsulated in therapeutic agents, enhancing their solubility, stability, and ability to reach the target site, including crossing the blood-brain barrier. Nanoparticle-based theranostics have properties like safety, biocompatibility, target specificity, multifunctionality, and controlled release are fueling the segment expansion.
By application, the oncology segment was dominant in 2024 and will grow fastest during 2025-2034. As theranostics give rise to enhanced target therapy, optimized treatment precision, and improved patient outcomes, they are boosting their wider adoption in the cancer sector. Numerous healthcare institutions and outpatient clinics are developing theranostics programs to meet the rising demand for tailored cancer treatments.
In this segment, the prostate cancer sub-segment held the largest share of the market. An approach involved in these cases is leveraging the prostate-specific membrane antigen (PSMA) for targeted treatment. Furthermore, PSMA-targeted PET/CT scans employ radiotracers, including 68Ga-PSMA-11 and 18F-DCFPyL, which support the visualization and localization of prostate cancer lesions, aiding in diagnosis, staging, and treatment planning.
Moreover, the neuroendocrine tumors sub-segment is predicted to witness expansion at the fastest CAGR in the theranostics market in the coming era. Mainly, radiolabeled somatostatin analogs are used for both imaging and targeted radionuclide therapy. A variety of applications of theranostics are explored in NET, such as Lu-177 DOTATATE is engineered to deliver targeted radiation to tumor cells, leading to damage and potentially resulting in tumor regression.
By end user, the hospitals & clinics segment registered dominance by accounting for a major share of the theranostics market in 2024. This segment is fueled by the contribution of well-developed infrastructure, where highly sophisticated diagnostics and therapeutics are widely used. As well as they also consist of complete facilities of patient care, like diagnostic imaging, therapeutic interventions, and the presence of specialized medical professionals, especially oncologists and radiologists. Apart from this, the involvement of hospitals in clinical trials for theranostic agents and technologies is further expanding the adoption of various approaches.
During 2025-2034, the diagnostic imaging centers segment will expand at the fastest CAGR. These centers greatly use advanced imaging technologies for diagnosis, like PET, SPECT, and hybrid imaging systems for accurate detection of tumor site, and further treatment strategies in cancer and other severe issues. This offers affordability, with increased patient outcomes and minimal toxicity. Additionally, this era is emphasising the integration of AI algorithms into theranostics, which further accelerates data analysis and predictive modeling based on imaging data and other factors.
North America led the market share by 40% in 2024, with a dominating share. This is mainly fueled by a rise in cases of target diseases like prostate and neuroendocrine cancers, which are further escalating the adoption of radiopharmaceuticals. However, North America has its highly advanced and robust healthcare infrastructure, with the raised significant R&D activities also contributing to the development of the ultimate market.
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In the US, ongoing developments in companion diagnostics are supporting the identification of patients who have received benefits for specific therapies. This is important for the successful execution of theranostics. Alongside, the US regulatory and reimbursement frameworks are greatly incorporated into the commercialization of integrated diagnostic-therapeutic offerings.
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Canada has advanced hospitals, clinical, and diagnostic imaging centers, which have a wide range of contributions to chronic disease diagnosis by adopting theranostics effectively. As well as, Canada is actively promoting research and development of theranostic technologies, with many clinical trials and studies focusing on oncology, neurology, and cardiology.
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In the theranostics market, the Asia Pacific is estimated to show the fastest growth in the studied years. The emergence of newer technologies, such as FAPI-based agents, Terbium radioisotopes, and CXCR4 theranostics, is highly explored in ASAP’s personalized cancer diagnosis and therapy. Moreover, this region is heavily investing in healthcare infrastructure and medical technologies, which are generating opportunities for theranostics adoption.
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China’s growing burden of diverse cancer prevalence is fueling broader demand for theranostics for early diagnosis. Besides this, China’s technology pool is inventing novel nuclear medicines, mainly radiopharmaceuticals and imaging technologies, which are playing a vital role in the progression of theranostics. Major efforts by the Chinese government have a "Mid- and Long-Term Development Plan for Medical Isotopes (2021–2035)" to expand advances in nuclear medicine and theranostics.
Japan’s enhanced focus on earlier detection and monitoring of disease for which they have led stepping into the advancement of diagnostic imaging technologies like MRI, CT scans, and PET scans. Along with this, the Japanese government's encouragement and funding for theranostics research are enhancing the development and adoption of new technologies.
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Europe is experiencing notable growth in the theranostics market. This development has occurred due to the presence of supportive government policies and initiatives, primarily in Germany and other European countries. These are further boosting nuclear medicine infrastructure and supporting the adoption of theranostics. Besides this, major collaborations among numerous pharmaceutical companies, research institutions, and healthcare providers are also expanding the development and commercialization of novel theranostic products and technologies.
Primarily, Germany's well-established pharmaceutical industry and its crucial R&D investments, especially in personalized medicine, are driving innovation in theranostics.
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The UK’s market is propelled by enhanced awareness among healthcare professionals about the advantages of theranostics is resulting in wider adoption in clinical practice.
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By Product Type
By Technology
By Application
By End User
By Region
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