Global Theranostics Market: Industry Outlook
The global theranostics market reached US$ 2.13 billion in 2023, with a rise to US$ 2.40 billion in 2024, and is expected to reach US$ 7.56 billion by 2033, growing at a CAGR of 15.4% during the forecast period 2025–2033. The theranostics market is experiencing robust growth, driven by the rising prevalence of cancer and other chronic diseases, the growing demand for personalized medicine, and advancements in molecular imaging and targeted therapies. Integration of diagnostics and therapeutics is enabling precise disease characterization, optimized treatment planning, and improved patient outcomes. Technological innovations, including novel radioisotopes, AI-powered imaging, and nanomedicine-based delivery systems, are further expanding clinical applications and accelerating adoption.
Key Market Trends & Insights
North America accounted for approximately 39.8% of the global theranostics market in 2024 and is expected to maintain its leading position throughout the forecast period. This dominance is supported by a strong presence of advanced healthcare infrastructure, high adoption of precision medicine, significant investment in oncology research, and the availability of cutting-edge diagnostic and therapeutic technologies.
Asia-Pacific is projected to be the fastest-growing region, fueled by rising cancer prevalence, increasing demand for personalized treatment, expanding access to nuclear medicine facilities, and government initiatives supporting healthcare modernization in countries like China, India, and South Korea.
Market Size & Forecast
2024 Market Size: US$ 2.40 Billion
2033 Projected Market Size: US$ 7.56 Billion
CAGR (2025–2033): 15.4%
North America: Largest market in 2024
Asia Pacific: Fastest-growing market
Market Dynamics
Driver: Rising Prevalence of Cancer and Chronic Diseases
The rising prevalence of cancer and chronic diseases is a major factor expected to drive the growth of the theranostics market. With cancer cases steadily increasing worldwide, there is a pressing need for more precise, targeted, and effective treatment options. Theranostics offers a unique advantage by combining diagnostic imaging and therapeutic intervention into a single platform, enabling accurate tumor detection, real-time monitoring, and tailored treatment strategies for individual patients. Beyond oncology, the growing burden of chronic conditions such as cardiovascular and neurological disorders further expands the potential applications of theranostics. As healthcare systems shift toward personalized and value-based care, the ability of theranostics to improve treatment efficacy, minimize side effects, and enhance patient outcomes positions it as a critical solution to address the rising global disease burden.
Restraint: High Cost of Theranostic Procedures
The high cost of theranostic procedures is anticipated to act as a significant restraint on the growth of the theranostics market. These treatments often involve advanced imaging technologies, specialized radiopharmaceuticals, and personalized therapeutic approaches, all of which substantially increase overall healthcare expenditure.
For more details on this report, Request for Sample
Global Theranostics Market Segment Analysis
The global theranostics market is segmented by imaging techniques, radioisotopes, application, and region.
Radioisotopes-The technetium-99 segment is estimated to have 47.6% of the theranostics market share.
The technetium-99 (Tc-99m) segment holds a dominant position in the theranostics market, primarily due to its widespread use in nuclear medicine for both diagnostic imaging and therapeutic applications. Tc-99m is favored for its optimal physical properties, including a short half-life that minimizes radiation exposure, and its ability to produce high-quality imaging results across a variety of conditions such as cancer, cardiovascular diseases, and neurological disorders.
Its versatility, cost-effectiveness, and compatibility with existing imaging infrastructure have made it the most commonly used radioisotope globally, accounting for the majority of diagnostic nuclear medicine procedures. Furthermore, the well-established supply chain, strong clinical validation, and ongoing research into expanding its applications continue to reinforce Tc-99m’s leadership in the theranostics market.
Geographical Analysis
The North America theranostics market was valued at 39.80% market share in 2024
North America is dominant in the theranostics market, accounting for the largest revenue share, supported by its advanced healthcare infrastructure, early adoption of precision medicine, and strong focus on oncology research. The region benefits from a high prevalence of cancer and chronic diseases, driving demand for innovative diagnostic and therapeutic solutions.
Well-established nuclear medicine facilities, widespread availability of advanced imaging technologies, and favorable reimbursement frameworks further enhance the adoption of theranostic approaches. In addition, significant investments from pharmaceutical companies, active collaborations between research institutions and healthcare providers, and a supportive regulatory environment continue to accelerate clinical trials and commercialization of novel theranostic agents. These factors collectively position North America as the leading market, with sustained growth expected throughout the forecast period.
The Asia-Pacific theranostics market was valued at 17.8% market share in 2024
Asia-Pacific is emerging as the fastest-growing region in the theranostics market, driven by a combination of rising cancer incidence, increasing adoption of personalized medicine, and expanding access to advanced healthcare technologies. Rapid urbanization and improved economic conditions have boosted healthcare spending, while governments across countries like China, India, South Korea, and Japan are actively investing in nuclear medicine infrastructure and research programs. Growing collaborations between local and global pharmaceutical companies, along with the establishment of specialized research hubs, are accelerating the development and availability of theranostic solutions in the region.
Competitive Landscape
The major players in the theranostics market include GE HealthCare, Siemens Medical Solutions USA, Inc., SDS Lifesciences Pvt. Ltd., NMR, among others.
Key Developments:
- In July 2025, Icon Cancer Centre and PMITC plan to open Western Australia’s first theranostics and molecular imaging facility at Hollywood Medical Centre, offering PET-CT, SPECT-CT, targeted radiopharmaceutical therapies, and access to global clinical trials.
In June 2025, Siemens Healthineers Molecular Imaging entered a research collaboration with Massachusetts General Hospital (MGH) to advance the use of theranostics.
In July 2025, Telix announced that its prostate cancer imaging agent, Illuccix (kit for the preparation of gallium-68 gozetotide injection), had received marketing authorization from BASG for detecting and localizing PSMA-positive lesions in adults with prostate cancer. This approval grants healthcare providers in Austria access to PSMA-PET imaging using a clinically validated gallium-based radiopharmaceutical, supporting broader clinical use in prostate cancer management.
Market Scope
Metrics | Details | |
CAGR | 15.4% | |
Market Size Available for Years | 2022-2033 | |
Estimation Forecast Period | 2025-2033 | |
Revenue Units | Value (US$ Bn) | |
Segments Covered | Imaging Techniques | PET, SPECT |
Radioisotopes | Technetium-99, Gallium-68, Lutetium (Lu) 177, Iodine-131, Zirconium-89, Y-90, Others | |
Application | Prostate Cancer, Bone Metastasis | |
Regions Covered | North America, Europe, Asia-Pacific, South America, and the Middle East & Africa | |
The global theranostics market report delivers a detailed analysis with 73 key tables, more than 76 visually impactful figures, and 195 pages of expert insights, providing a complete view of the market landscape.
Suggestions for Related Report
For more medical imaging-related reports, please click here
