Report : North America Radiopharmaceutical Theranostics Market Forecast to 2028 - COVID-19 Impact and Regional Analysis - by Product Type [Alpha Emitters, Beta Emitters, and Positron Emission Tomography (PET) Tracers], Radioisotope [Technetium-99, Gallium-68, Iodine-131, Iodine-123, Fluorine-18 (18F), Yttrium 90 (Y-90), Lutetium (Lu) 177, Copper (Cu) 67, Copper (Cu) 64, and Others], Source (Nuclear Reactors and Cyclotrons), Application [Targeted Therapeutic (Rx) and Companion Diagnostic (CDx)], Indication (Oncology, Cardiology, Neurology, and Others), and End User (Hospitals, Diagnostic Imaging Centers, Academic and Research Institutes, and Others)

At 11.5% CAGR, the North America Radiopharmaceutical Theranostics Market is speculated to be worth US$ 1,529.95 million by 2028, says Business Market Insights

According to Business Market Insights’ research, the North America radiopharmaceutical theranostics market was valued at US$ 795.88 million in 2022 and is expected to reach US$ 1,529.95 million by 2028, registering a CAGR of 11.5% from 2022 to 2028. Rising incidence of cancer and rising application in treatment of cardiovascular disorders are the critical factors attributed to the North America radiopharmaceutical theranostics market expansion.             

The most common types of cancer are breast, lung, colon, rectum, and prostate. As people age, they become immunocompromised and often succumb to cancer risks. Poor lifestyles, longer working hours, increasingly stressful lives, smoking, alcohol consumption, contraceptive use, nulliparity, and reduced breastfeeding all contribute to breast cancer incidence.

According to the American Cancer Society’s 2023 report, ~43,720 new cases of thyroid cancer (12,540 in men and 31,180 in women) are recorded in 2023. The report also revealed that 2,120 deaths occurred from thyroid cancer (970 in men and 1,150 in women) in the same year. Radiopharmaceutical theranostics have promising potential in cancer therapy. Theranostics is the combination of therapeutic and diagnostic techniques that utilize a suitable radiopharmaceutical agent. For example, radioiodine has a well-known theranostic application in diagnosing and treating differentiated thyroid cancer. Several radiopharmaceutical theranostic pairs are available for breast cancer applications. These pairs include 43/44Sc/47Sc, 64Cu/67Cu, 83Sr/89Sr, 86Y/90Y, 110In/111In, 124I/131I, 152Tb/161Tb, 152Tb/149Tb, 68Ga/177Lu, and 90Y/177Lu. 123I/131I is a well-known example of theranostic pair that is used in high-quality single-photon emission computerized tomography (SPECT)/CT for pre- and post-therapeutic assessment of thyroid cancer.

Malignant gliomas are deadly tumors with the availability of only a few therapeutic options. 89Zr- and 177Lu-labeled Lumi804-αCD11b is a promising theranostic technique intended for monitoring and reducing tumor-associated myeloid cells (TAMCs) in gliomas and improving immunotherapy outcomes. Further, theranostics are incorporated in radiometals for PET imaging and targeted radiopharmaceutical therapy (TRT). DOTA-octreotate (dotatate) radiolabeled with Lu-177 (177Lu-dotatate: Lutathera) or Ga-68 (68Ga-dotatate: NetSpot) are approved by the Food and Drug Administration (FDA) for targeted radiopharmaceutical therapy (TRT) and positron emission tomography (PET) imaging. Thus, a radiopharmaceutical theranostic approach has unprecedented value in diagnosing and treating different types of cancer, which fuels the overall market growth. This is expected to drive the North America radiopharmaceutical theranostics market during the forecast period.

On the contrary, regulatory challenges for approval of radiopharmaceutical theranostics hurdles the growth of North America radiopharmaceutical theranostics market. 

Based on product type, the North America radiopharmaceutical theranostics market is categorized into alpha emitters, beta emitters, and positron emission tomography (PET) tracers. The positron emission tomography (PET) tracers segment held 41.0% market share in 2022, amassing US$ 326.05 million. It is projected to garner US$ 648.92 million by 2028 to expand at 12.2% CAGR during 2022–2028.

Based on radioisotope, the North America radiopharmaceutical theranostics market is categorized into technetium-99, gallium-68, iodine-131, iodine-123, fluorine-18 (18F), yttrium 90 (Y-90), Lutetium (Lu) 177, copper (Cu) 67, copper (Cu) 64, and others. The Lutetium (Lu) 177 segment held 22.2% market share in 2022, amassing US$ 176.41 million. It is projected to garner US$ 361.06 million by 2028 to expand at 12.7% CAGR during 2022–2028.

Based on source, the North America radiopharmaceutical theranostics market is bifurcated into nuclear reactors and cyclotrons. The cyclotrons segment held 61.5% market share in 2022, amassing US$ 489.69 million. It is projected to garner US$ 997.72 million by 2028 to expand at 12.6% CAGR during 2022–2028.

Based on application, the North America radiopharmaceutical theranostics market is bifurcated into targeted therapeutic [Rx] and Companion Diagnostic [CDx]. The targeted therapeutic [Rx] segment held 61.7% market share in 2022, amassing US$ 491.01 million. It is projected to garner US$ 957.60 million by 2028 to expand at 11.8% CAGR during 2022–2028.

Based on indication, the North America radiopharmaceutical theranostics market is categorized into oncology, cardiology, neurology, and others. The oncology segment held 62.6% market share in 2022, amassing US$ 497.94 million. It is projected to garner US$ 991.23 million by 2028 to expand at 12.2% CAGR during 2022–2028.

Based on end user, the North America radiopharmaceutical theranostics market is categorized into hospitals, diagnostic imaging centers, academic and research institutes, and others. The hospitals segment held 38.0% market share in 2022, amassing US$ 302.22 million. It is projected to garner US$ 572.70 million by 2028 to expand at 11.2% CAGR during 2022–2028.

Based on country, the North America radiopharmaceutical theranostics market has been categorized into the US, Canada, and Mexico.  Our regional analysis states that the US captured 71.4% share of North America radiopharmaceutical theranostics market in 2022. It was assessed at US$ 568.44 million in 2022 and is likely to hit US$ 1,121.51 million by 2028, exhibiting a CAGR of 12.0% during the forecast period. 

Key players dominating the North America radiopharmaceutical theranostics market are Bayer AG; GE Healthcare Technologies Inc.; Curium; Lantheus Medical Imaging, Inc.; Telix Pharmaceuticals Ltd.; Cardinal Health Inc.; Advanced Accelerator Applications S.A; Jubilant Radiopharma; Theragnostics; and NuView Life Sciences among others.

  • In Oct 2022, NuView Life Sciences Provides Corporate Update On NV-VPAC1 Theranostic for Breast Cancer.
  • In Feb 2022, Theragnostics Announces US FDA Approval for its Radiodiagnostic Imaging Drug NephroScan.

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