Theranostics Market Research Report - Global Forecast till 2030

Theranostics Market Research Report Information by Therapeutic Area (Oncology, Cardiovascular Diseases, Neurological Disorders, Immunological Disorders and others), Technology [Polymerase Chain Reaction (PCR), Immunohistochemistry (IHC), In Situ Hybridization (ISH), Sequencing, Others], End User (Hospitals and Clinics, Diagnostic Laboratories, Others) and Region - Forecast till 2030

ID: MRFR/HC/6585-HCR | 90 Pages | Author: Kinjoll Dey | March 2024         

Theranostics Market Speak to Analyst Request a Free Sample

Theranostics Market Scenario


The Theranostics Market is expected to reach USD 1,731.78 Million by 2030 at 9.80% CAGR during the forecast period 2022-2030. Theranostics is referred to as the combination of therapeutics, nanoscience, and diagnostics that provides a transition from conventional medicine to a contemporary personalized and precision medicine approach. Theranostics is also called as theragnostics or companion diagnostics (CDx), or pharmacodiagnostics or personalized medical care, or personalized therapy, or personalized medicine technology.


It is a new field of medicine which combines specific targeted therapy based on specific targeted diagnostic tests. Factors responsible for the growth of the market are globally increasing the development of novel companion diagnostic tests, mounting adoption of companion diagnostic tests by end users, increasing collaborations and partnerships by prominent market participants to develop innovative companion diagnostics, and rising burden of chronic diseases. For instance, according to the World Health Organization (WHO), in 2001, chronic diseases contributed approximately 60% of the 56.5 million total reported deaths in the world and around 46% of the global burden of disease; these diseases are forecasted to account for about three-quarters of all deaths worldwide by the end of 2020. On the contrary, the lack of properly defined regulations for theranostics tests and inadequate reimbursement facilities in most of the economies are anticipated to limit the theranostics market size during the forecast period from 2019 to 2025.


Theranostics Market Segmentation


The 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. The oncology segment dominated the market in 2018 and expected to retain its dominance over the forecast period due to increasing adoption of theranostics in cancer disease to eliminate multi-step procedures, reduce delays in treatment and improves patient care.


On the basis of technology, the market has been divided into polymerase chain reaction (PCR), immunohistochemistry (IHC), in situ hybridization (ISH), sequencing, and others.


Based on end user, the market has been classified into hospitals and clinics, diagnostic laboratories, and others.


The theranostics market has been segmented on the basis of region into the Americas, Europe, Asia-Pacific, and the Middle East & Africa. The market in the Americas has further been segmented into North America and Latin America, with the North American market divided into the US and Canada.


The European theranostics market has been segmented into Western Europe and Eastern Europe. Western Europe, market, has further been classified as Germany, France, the UK, Italy, Spain, and the rest of Western Europe.


The theranostics market in Asia-Pacific has been segmented into Japan, China, India, South Korea, Australia, and the rest of Asia-Pacific. The market in the Middle East & Africa has been segmented into the Middle East and Africa.


Theranostics Market Key Players



  • Thermo Fisher Scientific Inc.

  • Beckman Coulter, Inc.

  • Hoffmann-La Roche Ltd

  • Focus Diagnostics

  • Illumina, Inc.

  • Agilent Technologies, Inc.

  • QIAGEN

  • Abbott Laboratories

  • Myriad Genetics, Inc.

  • Foundation Medicine, Inc.

  • AmeriPath, Inc.


Regional Market Summary


Theranostics Market Share (%), by Region, 2018  Theranostics Market_Image


Source: White Papers, Company Presentations, Annual Reports, and MRFR Analysis


Geographically, the Americas held substantial market share in 2018 attributed to the presence of key market players, rising prevalence of chronic diseases, strong research and development activities, and increasing adoption of companion diagnostics in the US and Canada. The presence of market players, namely, Thermo Fisher Scientific Inc., Beckman Coulter, Inc., Abbott Laboratories, and Agilent Technologies, Inc. facilitates early market initiation of products and prompt products supply to the customers, thereby supporting to its dominance.


Europe would be the second largest value contributor in the global market due to proliferating pharmaceutical and medical device companies, increasing partnerships and collaborations between life science companies and medical diagnostics companies, and growing focus of major market players on the expansion of product portfolio. For instance, in June 2018, Laboratory Corporation of America Holdings and Unilabs (a Swiss provider of clinical laboratory testing and medical diagnostic imaging services) strategically collaborated to provide expanded global development and delivery of companion diagnostics.


Increasing awareness regarding companion diagnostics, rising collaborations between medical diagnostic companies, growing elderly population coupled with surging prevalence of serious health illnesses are expected to contribute to the lucrative market growth of Asia-Pacific. In August 2018, QIAGEN N.V. collaborated with SRL, Inc., a Japan-based clinical lab testing company, to introduce new companion diagnostics simultaneous with new drug approvals.


The theranostics market in the Middle East & Africa would witness the modest market growth rate from 2018 to 2025. The Middle East would spearhead the market attributed to growth in the healthcare sector along with developing healthcare infrastructure in the Gulf Cooperation Council (GCC) region.


by Therapeutic Area



  • Oncology


    • Breast Cancer

    • Colorectal Cancer

    • Lung Cancer

    • Cervical Cancer

    • Others


  • Cardiovascular Diseases

  • Neurological Disorders

  • Immunological Disorders

  • Others


by Technology



  • Polymerase Chain Reaction (PCR)

  • Immunohistochemistry (IHC)

  • In Situ Hybridization (ISH)

  • Sequencing

  • Others


by End User



  • Hospitals and Clinics

  • Diagnostic Laboratories

  • Others


by Region



  • Americas


    • North America


      • US

      • Canada


    • Latin America




  • Europe


    • Western Europe


      • Germany

      • France

      • Italy

      • Spain

      • UK

      • Rest of Western Europe


    • Eastern Europe




  • Asia-Pacific


    • Japan

    • China

    • India

    • Australia

    • South Korea

    • Rest of Asia-Pacific




  • Middle East & Africa


    • Middle East

    • Africa



Intended Audience



  • Medical diagnostic manufacturers

  • Medical diagnostic suppliers

  • Venture capitalists

  • Medical devices companies

  • Research and academic institutes

  • Healthcare facilities

  • Association and government bodies

  • Market research and consulting service providers

  • Corporate entities

Report Scope:

Report Attribute/Metric Details
  Market Size   USD 1,731.78 Million
  CAGR   9.80%
  Base Year   2021
  Forecast Period   2022-2030
  Historical Data   2020
  Forecast Units   Value (USD Million)
  Report Coverage   Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
  Segments Covered   Therapeutic Area, Technology, End User
  Geographies Covered   North America, Europe, Asia-Pacific, and Rest of the World (RoW)
  Key Vendors   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.
  Key Market Opportunities   New product launches and R&D Amongst major key Players
  Key Market Drivers ·  The growing demand for personalized medicine. ·  The Increasing technological development in nanoscience




Frequently Asked Questions (FAQ) :

Theranostics is a combination of nanoscience, diagnostics, and therapeutics that delivers personalized medication.

Theranostics Market was valued at close to USD 1,731.78 Million in 2030.

Theranostics Market is expected to exhibit a strong 9.80% CAGR over the forecast period from 2022-2030.

The growing demand for personalized medicine and the increasing technological development in nanoscience are the major drivers for the global theranostics market.

The Americas and Europe dominate the global theranostics market.

Key Questions Answered

  • Global Market Outlook
  • In-depth analysis of global and regional trends
  • Analyze and identify the major players in the market, their market share, key developments, etc.
  • To understand the capability of the major players based on products offered, financials, and strategies.
  • Identify disrupting products, companies, and trends.
  • To identify opportunities in the market.
  • Analyze the key challenges in the market.
  • Analyze the regional penetration of players, products, and services in the market.
  • Comparison of major players’ financial performance.
  • Evaluate strategies adopted by major players.
  • Recommendations
Request Free Sample

Why Choose Market Research Future?

  • Vigorous research methodologies for specific market.
  • Knowledge partners across the globe
  • Large network of partner consultants.
  • Ever-increasing/ Escalating data base with quarterly monitoring of various markets
  • Trusted by fortune 500 companies/startups/universities/organizations
  • Large database of 5000+ markets reports.
  • Effective and prompt pre- and post-sales support.
Speak to Analyst
Leading companies partner with us for data-driven Insights.
Client logo Client logo Client logo Client logo Client logo Client logo Client logo Client logo Client logo Client logo

Kindly complete the form below to receive a free sample of this Report

Please fill in Business Email for Quick Response
Invalid