According to the business intelligence report titled ‘Global Theranostics Market 2022-2028’, available with MarketStudyReport, global theranostics market is slated to grow at a CAGR of 9.6% through 2028 and reach a valuation of USD 123,694 million by the end of the analysis timeframe.

Increase in the prevalence of cancer and other chronic illnesses, in congruence with growing investments on biological research are the major factors propelling global theranostics market growth.

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For the unversed, the term theranostics is the amalgamation of the words therapeutics and diagnostics. Its main course of action follows the utilization of one radioactive drug to diagnose, while the other is used to deliver therapy to treat main or other kinds of metastatic tumors. Theranostics is also referred to as Dx/Rx, companion diagnostics, pharmacodiagnostics, and integrated medicine.

Furthermore, surge in research & development, rapid approvals from the FDA for novel approaches, and growing awareness regarding the quality of the drugs are bound to uncover new opportunities for market expansion during the forecast period.

Despite the positive outlook, several flaws associated with a defined regulatory landscape, alongside lack of reimbursement policies in emerging economies may hamper the growth trajectory of the market in the ensuing years.

Apart from growth drivers and challenges, the research literature furnishes a comprehensive segmental assessment of worldwide theranostics industry that highlights historical and current trends with respect to product type, therapeutic area, and regional expanse.

Speaking of which, different product types are therapeutic agents, theranostic agents, imaging equipment, and companion diagnostics. While various diagnostic areas include respiratory, immunology & infectious diseases (RIIDs), neurological disorders, cardiovascular diseases (CVDs), oncology, and others.

Considering regional extent, the overall industry spans across Europe, Asia Pacific, and Europe. Consumption patterns prevalent in each regional market are entailed within the document so as to facilitate stakeholders to make well-informed decisions and expand their profitability.

Speaking of the competitive landscape, Johnson & Johnson, GlaxoSmithKline plc (GSK plc), Pfizer Inc., F. Hoffmann-La Roche AG, Theragnostics Ltd., Innate Pharma S.A., Bristol-Myers Squibb Company, Merck KGaA, Ipsen S.A., Innate Pharma S.A., Novartis International AG, Sanofi S.A., Progenics Pharmaceuticals Inc., and Theradiag S.A. are the prominent players influencing global theranostics market trends.