As per MRFR analysis, the India Theranostics Market Size was estimated at 410.5 (USD Million) in 2023.The India Theranostics Market is expected to grow from 514.0(USD Million) in 2024 to 1,767.0 (USD Million) by 2035. The India Theranostics Market CAGR (growth rate) is expected to be around 11.88% during the forecast period (2025 - 2035).
The market for theranostics in India is expanding significantly due to a number of important factors. The need for individualized treatment is being driven by the rising incidence of chronic illnesses and rising healthcare costs. There is a tremendous drive to include theranostics into traditional therapy paths as the Indian government concentrates on enhancing healthcare infrastructure and encouraging cutting-edge diagnostic procedures.
Initiatives like the National Health Mission, which seeks to increase access to high-quality healthcare, reflect this and make theranostics more attractive to both patients and healthcare professionals. The creation of customized treatments based on genetic profiles is one area of opportunity to be investigated in the Indian market. Research and development projects that make use of genetic testing and biomarker identification are also gaining popularity since they have the potential to greatly improve illness management.
Working together, academic institutions, pharmaceutical firms, and diagnostic labs can produce novel theranostics solutions that will increase their market share overall. As awareness campaigns and training initiatives concerning customized medicine gain traction, recent trends show that healthcare professionals are gradually coming to accept theranostics. Indian patients are increasingly looking for focused medicines that provide better results as they gain more knowledge about their treatment alternatives. Beyond this, technological developments are opening the door to more effective theranostic solutions, such as the application of artificial intelligence in diagnostics.
The India Theranostics Market is anticipated to grow as these trends continue to develop, supporting a more comprehensive and patient-centered approach to healthcare.
Source: Primary Research, Secondary Research, MRFR Database and Analyst Review
The India Theranostics Market is significantly driven by the rising incidence of cancer within the country. According to the National Cancer Registry of India, there were an estimated 1.16 million new cancer cases reported in 2023, reflecting a general rise in cancer diagnoses.
The increasing burden of cancer is leading to heightened demand for advanced diagnostics and targeted therapies, which are the key components of theranostics. The Indian government has initiated several awareness and prevention campaigns supported by organizations like the Indian Council of Medical Research (ICMR), which indicate a strong commitment to addressing this public health challenge.
As more patients seek personalized treatment options, the demand for theranostic products is anticipated to grow, contributing to the overall market expansion. Furthermore, the National Health Mission has been focusing on improving cancer treatment facilities and accessibility, enhancing the scope for theranostics in healthcare.
Advancements in biomarker discovery are propelling the growth of the India Theranostics Market. Significant investments in research and development by Indian biotech firms have led to the identification of novel biomarkers for various diseases. Institutions such as the Indian Institute of Science and several local universities are at the forefront of this research.
The identification of these biomarkers facilitates the development of personalized medicine solutions, which aligns with the global trend of tailored therapeutic strategies.
For instance, the Indian government has provided substantial funding through initiatives like the Atal Innovation Mission, encouraging innovation in healthcare sectors, including theranostics. This stimulates a conducive ecosystem for biotech firms to innovate and commercialize new theranostic tests, thereby augmenting market growth.
India's robust pharmaceutical and biotech industry significantly impacts the growth of the India Theranostics Market. India is one of the world's largest producers of generics and has a rapidly expanding biotechnology sector driven by government initiatives and favorable policies.
The Biotechnology Industry Research Assistance Council (BIRAC) has supported numerous startups and established companies in developing biotherapeutics and diagnostics.
This growth fosters collaborative research efforts that focus on integrating theranostics into routine clinical practices, thus elevating market prospects. Furthermore, the Make in India initiative aims to promote local manufacturing and innovation in biotechnology, actively promoting the development of health technologies that include theranostic capabilities.
The India Theranostics Market is further bolstered by an increase in government initiatives aimed at improving healthcare standards. The National Health Policy of 2017 emphasizes access to affordable and high-quality healthcare, including cancer care.
Initiatives such as Ayushman Bharat, which aims to provide healthcare coverage to millions of underserved individuals, also underline the government’s commitment to enhancing healthcare services. Supported by organizations like the Quality Council of India, these measures create a more conducive environment for the implementation and adoption of theranostic technologies in the healthcare system.
The focus on enhancing infrastructure and availability of advanced diagnostics directly correlates with the increasing adoption of theranostics, setting a solid foundation for market growth.
The India Theranostics Market exhibits significant prospects across various applications as it evolves from 2019 to 2032, offering valuable insights into market dynamics. The multi-faceted nature of this sector is reflected in its segmentation into areas such as Oncology, Neurology, Cardiology, and Infectious Diseases, each playing a pivotal role in shaping the future of personalized medicine in India. Oncology stands at the forefront, reflecting the growing burden of cancer in India, which has seen an increase in incidences due to lifestyle changes and environmental factors.
Consequently, theranostic applications in oncology facilitate more targeted therapies and improve treatment outcomes through personalized insights into patient-specific cancer profiles, making it a priority area of healthcare investment in the country. Neurology is gaining traction as well, especially with rising neurological disorders associated with aging populations and lifestyle factors. Theranostics in this segment enable the development of precision therapies for conditions such as Alzheimer’s and Parkinson’s diseases, thus suggesting that this area will gain substantial attention in research and clinical applications throughout the anticipated growth period.
Cardiology also plays a significant role, as cardiovascular diseases are a leading cause of mortality in India. The rising prevalence necessitates the need for innovative solutions that can provide tailored treatment options based on individual risk profiles and disease progression. This segment presents opportunities for advancements in predictive analytics, thereby enhancing patient care. Infectious Diseases, particularly in the wake of recent global health events, have underscored the value of theranostics in diagnosing and treating various infections more efficiently.
The integration of diagnostic and therapeutic strategies in this area allows for more robust management of diseases such as tuberculosis and viral infections, which remain prevalent in the Indian healthcare landscape. Together, these application areas not only highlight the growth drivers but also provide a framework for addressing challenges in healthcare delivery in India. The unique demographics, prevalence rates of diverse diseases, and increased government focus on healthcare improvements create a conducive environment for market expansion across these application segments.
The ongoing advancements in technology and a growing emphasis on personalized medicine signal promising growth trajectories for the India Theranostics Market, poised to improve patient outcomes effectively while also addressing the relevant healthcare challenges in the region. Overall, the application segmentation within the India Theranostics Market reflects an evolving landscape that resonates with both present needs and future growth potential in personalized healthcare.
Source: Primary Research, Secondary Research, MRFR Database and Analyst Review
The India Theranostics Market is experiencing notable developments within the Technology segment, driven by advancements in Genomics, Proteomics, Metabolomics, and Biomarkers. Genomics plays a pivotal role in personalizing treatment strategies, as it allows for the analysis of individual genetic information, ensuring tailored therapies that increase the efficacy of treatments.
Proteomics offers insights into protein expressions and interactions that are critical for understanding disease mechanisms, thus facilitating the discovery of potential therapeutic targets. Metabolomics, which focuses on the comprehensive analysis of metabolites, aids in the identification of disease biomarkers, further enhancing the precision of Theranostics.
Biomarkers serve as essential tools in diagnostic and therapeutic applications, enabling early disease detection and monitoring treatment responses. The combination of these technologies is integral to the evolution of precision medicine in India, catering to the growing demand for more effective and personalized healthcare solutions.
Furthermore, government initiatives and investments in healthcare infrastructure are bolstering research and development across these domains, promising significant growth in the India Theranostics Market and its various segments.
The India Theranostics Market, specifically focusing on the End User segment, reveals a diverse landscape comprising key players such as hospitals, diagnostic laboratories, and research institutes. Hospitals are crucial, as they not only offer patient treatment but also play a significant role in utilizing advanced therapeutic and diagnostic technology, thereby driving innovative approaches to patient care. Diagnostic laboratories are essential in this ecosystem, as they perform critical tests that facilitate timely and accurate diagnoses, making them indispensable in the theranostics workflow.
Research institutes contribute significantly by advancing scientific knowledge, developing new theranostic agents, and conducting clinical trials that pave the way for new treatment methodologies. As the demand for personalized medicine continues to rise in India, the integration of theranostic solutions within these end-users is expected to enhance patient outcomes and optimize healthcare efficiency.
The growing emphasis on precision medicine, supported by governmental initiatives to bolster healthcare infrastructure, presents substantial opportunities for the India Theranostics Market, demonstrating robust growth potential over the coming years. The segmentation across these crucial sectors highlights the importance of a collaborative approach to improve health outcomes and foster advancements in theranostics.
The India Theranostics Market is anticipated to experience significant growth, particularly in the Product Type segment encompassing Instruments, Reagents, and Software. Instruments are vital as they play a key role in the precision diagnostics and targeted treatments that define theranostics, facilitating tailored patient management.
Reagents also hold a crucial position, serving as the essential biochemical components needed for diagnostic testing and therapeutic applications, thereby influencing treatment decisions effectively. Furthermore, Software contributes immensely by enabling data analysis and interpretation, which aids healthcare professionals in making informed decisions based on complex patient data sets.
The growth in the India Theranostics Market is supported by advancements in biotechnology and a rising emphasis on personalized medicine. Additionally, initiatives by the Indian government to improve healthcare infrastructure and facilitate research in theranostics create a favorable environment for the expansion of this market sector.
The India Theranostics Market is evolving rapidly as a result of advancements in personalized medicine and the increasing demand for targeted therapies. This market segment integrates therapeutic and diagnostic capabilities to tailor treatments to individual patients' needs. With a significant investment in research and development, key players are aiming to enhance precision medicine by uncovering more specific biomarkers for various diseases, particularly in oncology. The competitive landscape is characterized by collaborations between pharmaceutical and diagnostic companies, fostering innovative solutions that address the unique health challenges faced in India.
This dynamic market is witnessing an influx of both domestic and international firms striving to carve out a niche, resulting in a diverse portfolio of products and services that cater to the growing health care requirements of the region. Qiagen has established a robust presence in the India Theranostics Market, leveraging its cutting-edge technologies and expertise in molecular diagnostics. The company's strengths lie in its comprehensive range of products designed for various applications in cancer diagnostics as well as infectious diseases, enabling healthcare providers to make informed treatment decisions.
Qiagen boasts a strong portfolio of innovative assays and platforms to assist in the development of personalized therapies, demonstrating its commitment to enhancing patient outcomes through precision medicine. With a solid reputation for quality and reliability, Qiagen is actively expanding its partnerships and collaborations within the country, aiming to further its reach and enhance the accessibility of its advanced diagnostic solutions in the Indian healthcare landscape.
Bristol-Myers Squibb holds a significant role in the India Theranostics Market, particularly with its portfolio of therapeutics that include several oncology treatments known for their targeted mechanisms. The company continues to strengthen its market presence through strategic mergers and acquisitions, enhancing its research capabilities and expanding its offerings in personalized therapies. Bristol-Myers Squibb's key products in the Indian market largely focus on immuno-oncology, which not only revolutionizes cancer treatment but also integrates diagnostic solutions tailored for patient stratification.
The company maintains a strong commitment to innovation, and its proactive approach to partnerships with local research institutions further augments its ability to deliver advanced therapeutic options to the Indian population. Bristol-Myers Squibb's emphasis on collaboration and adaptation to the regional healthcare needs positions it as a prominent player in the competitive landscape of theranostics in India.
The India Theranostics Market has witnessed significant developments, particularly after the COVID-19 pandemic accelerated the demand for personalized medicine and advanced diagnostics. Companies like Roche and Thermo Fisher Scientific are heavily investing in research to develop innovative diagnostics solutions tailored to Indian healthcare needs.
In terms of mergers and acquisitions, there was a notable announcement in September 2023 when Merck & Co. acquired a local biotech firm to expand its capabilities in precision medicine. Similarly, in August 2023, Siemens Healthineers announced a partnership with local hospitals to enhance molecular imaging services, targeting the cancer diagnostic segment.
The market's valuation has been robust, with government initiatives promoting home-grown biopharma innovation, which has been aided by pharmaceutical giants like Pfizer and Novartis expanding their R&D footprints in India. Recent regulatory changes are aimed at fast-tracking approvals for new theranostics products, promoting quicker access to advanced therapies for patients.
| Report Attribute/Metric Source: | Details |
| MARKET SIZE 2018 | 410.5(USD Million) |
| MARKET SIZE 2024 | 514.0(USD Million) |
| MARKET SIZE 2035 | 1767.0(USD Million) |
| COMPOUND ANNUAL GROWTH RATE (CAGR) | 11.88% (2025 - 2035) |
| REPORT COVERAGE | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| BASE YEAR | 2024 |
| MARKET FORECAST PERIOD | 2025 - 2035 |
| HISTORICAL DATA | 2019 - 2024 |
| MARKET FORECAST UNITS | USD Million |
| KEY COMPANIES PROFILED | Qiagen, BristolMyers Squibb, Philips Healthcare, Luminex Corporation, Merck and Co, Novartis, Thermo Fisher Scientific, Roche, Siemens Healthineers, GE Healthcare, Abbott Laboratories, Pfizer, Agilent Technologies, Illumina |
| SEGMENTS COVERED | Application (USD Billion, 2019-2032), Technology (USD Billion, 2019-2032), End User (USD Billion, 2019-2032), Product Type (USD Billion, 2019-2032) |
| KEY MARKET OPPORTUNITIES | Growing cancer prevalence, Personalized medicine advancements, Increased funding for R&D, Rising demand for precision diagnostics, Expanding healthcare infrastructure |
| KEY MARKET DYNAMICS | growing demand for personalized medicine, increase in cancer prevalence, advancements in diagnostics technologies, supportive government initiatives, rising investment in R&D |
| COUNTRIES COVERED | India |
Frequently Asked Questions (FAQ) :
The India Theranostics Market is expected to be valued at 514.0 million USD in 2024.
By 2035, the India Theranostics Market is projected to reach 1767.0 million USD.
The expected CAGR for the India Theranostics Market from 2025 to 2035 is 11.88%.
Oncology is expected to lead the India Theranostics Market with a value of 225.0 million USD in 2024.
The Neurology segment is expected to be valued at 350.0 million USD by 2035.
The Cardiology application is estimated to be valued at 130.0 million USD in 2024.
Key players in the market include companies such as Qiagen, Merck and Co, and Thermo Fisher Scientific.
The Infectious Diseases application is projected to be valued at 163.0 million USD in 2035.
Oncology is anticipated to show significant growth with a projected value of 794.0 million USD by 2035.
The market is facing challenges such as regulatory hurdles while opportunities exist in technological advancements and increasing healthcare spending.
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