Radiotheranostics Market Size

Radiotheranostics Market size is expected to cross USD 44 Billion by the end of 2036, growing at a CAGR of 14% during the forecast period, i.e., 2024-2036. In the year 2023, the industry size of radiotheranostics was over USD 8 Billion. One major factor driving market expansion is the growing trend of personalized medicines in the management of cancer. The idea of individualized medicine in cancer treatment has also been influenced by developments in diagnostics, treatment options, and our understanding of cancer biology. The most recent estimates, there has been an over 75,000 genetic testing kits and 300 tailored medications are available for use by patients with various chronic and infectious diseases, uncommon genetic diseases, and malignancies.

Additionally, there will probably be new market opportunities due to pharmaceutical companies' increased efforts to produce novel radiotheranostics with longer half-lives and improved treatment outcomes. For example, ITM reported in April 2022 that patient recruitment for their phase III study, COMPETE, with its primary candidate, targeted radionuclide therapy, ITM-11, had been successfully completed. Additionally, Pluvicto (Lu177), which Novartis announced was approved by the FDA in March 2022, can be used to treat adult patients with specific types of metastatic tumors.