Theranostics Market Size Worth USD 8,640.97 million by 2034 | CAGR: 15.5%

The theranostics market size is expected to reach USD 8,640.97 million by 2034, according to a new study by Polaris Market Research. The report “Theranostics Market Size, Share, Trends, Industry Analysis Report: By Product Type (Instruments, Reagents, and Software), Application, Technology, End User, and Region (North America, Europe, Asia Pacific, Latin America, and Middle East & Africa) – Market Forecast, 2025–2034” gives a detailed insight into current market dynamics and provides analysis on future market growth.

Theranostics is a medical approach that integrates diagnostics and therapy to provide personalized treatment based on a patient’s specific disease characteristics. This method enables precise disease detection, targeted therapy, and real-time monitoring of treatment effectiveness. The theranostics market growth is propelled by the increasing prevalence of cancer and other chronic diseases, advancements in molecular imaging, and the rising adoption of precision medicine.

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Theranostics market opportunities lie in the expansion of radiotheranostics, AI-driven diagnostic solutions, and biomarker-based therapies. Key trends include the growing use of companion diagnostics, regulatory support for personalized treatments, and strategic collaborations among pharmaceutical, biotechnology, and diagnostic companies. With continuous innovation and increasing demand for targeted therapies, the market is expected to expand further, particularly in oncology and neurology applications.

Theranostics Market Report Highlights

• The theranostics market, based on product type, is segmented into instruments, reagents, and software. Among these, the reagents segment held the largest market share in 2024, primarily due to the critical role they play in diagnostic tests, including biomarker assays and molecular diagnostic applications.
• The market, by application, is segmented into oncology, neurology, cardiology, and infectious diseases. The oncology segment dominated the theranostics market share in 2024 due to the increasing prevalence of cancer globally and the growing adoption of targeted therapies for cancer treatment.
• The market, by technology, is segmented into genomics, proteomics, metabolomics, and biomarkers. The genomics segment accounted for a major market share in 2024 due to the growing demand for genomic-based diagnostics and targeted therapies.
• North America dominated the theranostics market revenue share in 2024, primarily driven by the strong presence of advanced healthcare infrastructure, high adoption of precision medicine, and significant investments in research and development.
• The theranostics market comprises several active companies contributing to advancements in personalized medicine. A few notable participants include Advanced Accelerator Applications; Bayer AG; GE HealthCare Technologies Inc.; Siemens Healthineers AG; Cardinal Health, Inc.; Lantheus Holdings, Inc.; Curium Pharma; Abbott Laboratories; Thermo Fisher Scientific Inc.; Astellas Pharma Inc.; F. Hoffmann-La Roche AG; and Illumina, Inc.

Polaris Market Research has segmented the theranostics market report on the basis of product type, application, technology, end user, and region:

By Product Type Outlook (Revenue – USD Million, 2020–2034)

• Instruments
• Reagents
• Software

By Application Outlook (Revenue – USD Million, 2020–2034)

• Oncology
• Neurology
• Cardiology
• Infectious Diseases

By Technology Outlook (Revenue – USD Million, 2020–2034)

• Genomics
• Proteomics
• Metabolomics
• Biomarkers

By End User Outlook (Revenue – USD Million, 2020–2034)

• Hospitals
• Diagnostic Laboratories
• Research Institutes

By Regional Outlook (Revenue – USD Million, 2020–2034)

• North America
  • US
  • Canada
• Europe
  • Germany
  • France
  • UK
  • Italy
  • Spain
  • Netherlands
  • Russia
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • Malaysia
  • South Korea
  • Indonesia
  • Australia
  • Vietnam
  • Rest of Asia Pacific
• Middle East & Africa
  • Saudi Arabia
  • UAE
  • Israel
  • South Africa
  • Rest of Middle East & Africa
• Latin America
  • Mexico
  • Brazil
  • Argentina
  • Rest of Latin America

Theranostics Market Report Scope