The global theranostics market size accounted for USD 7,968.4 million in 2018 and is projected to grow at a CAGR of 11.4% over the forecast period. Theranostics is a new field of medicine which combines therapeutics, nanoscience, and diagnostics based on specific targeted diagnostic tests. Theranostics is also called as theragnostics or companion diagnostics (CDx), or pharmacodiagnostics or personalized medical care, or personalized therapy, or personalized medicine technology. Theranostics is a proposed diagnostic methodology for personalizing therapeutic intervention and the integration of imaging and therapy in a single system, enabling simultaneous therapy and follow-up of the treatment. Some of the market growth factors are increasing development of novel companion diagnostic tests, emerging use of theranostics, increasing partnerships and collaborations by major market players to develop innovative companion diagnostics, and rising burden of chronic diseases. In contrast, lack of proper defined regulations for theranostics tests and inadequate reimbursement facilities in most of the countries are anticipated to impede the market growth during the forecast period.

Also Read: https://articlescad.com/article/show/179440

Molecular theranostics is a major field which includes small biochemical moieties and biomacromolecules. Theranostics is important for personalized as well as precision medicine that provides therapeutic outcome so that a physician can make a decision pertaining to the course of treatment for the patient.

Segmentation

The global theranostics market has been segmented into the therapeutic area, technology, end user, and region.

By therapeutic area, the market has been segmented into oncology, cardiovascular diseases, neurological disorders, immunological disorders, and others. The oncology segment is further categorized into breast cancer, colorectal cancer, lung cancer, cervical cancer, and others.

On the basis of technology, the market has been divided into polymerase chain reaction (PCR), immunohistochemistry (IHC), in situ hybridization (ISH), sequencing, and others. The sequencing segment is likely to register comparatively higher CAGR over the forecast period due to the increasing number of proof-of-concept case studies and research related to sequencing, particularly next-generation sequencing (NGS) technology.

Based on end user, the market has been classified into hospitals and clinics, diagnostic laboratories, and others.
Also Read: https://declara.com/content/9f49aced-b605-415b-8dd3-fe687ee43152

Key Players

Few of the prominent players in the global theranostics market are Thermo Fisher Scientific Inc., F. Hoffmann-La Roche Ltd, Beckman Coulter, Inc., Focus Diagnostics, Abbott Laboratories, Illumina, Inc., Agilent Technologies, Inc., QIAGEN, Myriad Genetics, Inc., Foundation Medicine, Inc., and AmeriPath, Inc.

Regional Analysis

The global theranostics market has been categorized on the basis of region into the Americas, Europe, Asia-Pacific, and the Middle East & Africa. On a regional basis, the Americas would command the market throughout the forecast period attributed to the domicile of major market participants, increasing research and development activities, and growing adoption of theranostics in the US and Canada. For instance, in June 2018, Genome Canada launched a national initiative for clinical implementation of precision health that would ultimately impact the market growth in the near future.

Europe would follow Americas in terms of value over the forecast period due to flourishing pharmaceutical and medical device companies, increasing partnerships and collaborations between life science companies and medical diagnostics companies, and growing personalized medicine sector. Personalized medicine (PM) is an emerging approach to prevention, diagnosis, treatment, and care which is assisting in addressing the challenge of the aging of the population, rising prevalence of chronic diseases, and increasing healthcare costs.

Also Read: http://www.marketwatch.com/press-release/theranostics-market-to-gro...

The market in Asia-Pacific would register the fastest market growth over next seven years owing to booming medical tourism, swiftly developing healthcare infrastructure, and growing awareness in the developing countries, namely, India, China, Singapore, and Australia.

The Middle East & Africa has the least share of the global theranostics market. In addition, the major market share of the region would be held by the Middle Eastern region due to developing healthcare system and medical infrastructure in the Arab countries.

About Market Research Future:

At Market Research Future (MRFR), we enable our customers to unravel the complexity of various industries through our Cooked Research Report (CRR), Half-Cooked Research Reports (HCRR), Raw Research Reports (3R), Continuous-Feed Research (CFR), and Market Research & Consulting Services.

Also Read: http://www.marketwatch.com/press-release/open-source-intelligence-o...

MRFR team have supreme objective to provide the optimum quality market research and intelligence services to our clients. Our market research studies by Components, Application, Logistics and market players for global, regional, and country level market segments, enable our clients to see more, know more, and do more, which help to answer all their most important questions.

Also Read: https://www.medgadget.com/2020/10/nurse-call-system-market-size-sha...

In order to stay updated with technology and work process of the industry, MRFR often plans & conducts meet with the industry experts and industrial visits for its research analyst members.

Contact:
Market Research Future
Office No. 528, Amanora Chambers
Magarpatta Road, Hadapsar,
Pune – 411028
Maharashtra, India
+1 646 845 9312
Email: [email protected]