The global theranostics market Size is anticipated to reach over USD 20.52 Billion by 2026 according to a new study published by Polaris Market Research.
Theranostics are defined as a combination of diagnostics and drug therapeutics to improve the drug safety, drug restructures development and effectiveness. The combination of effective medical drugs and advanced diagnostic tests has been given numerous names, such as Dx/Rx partnering, integrated medicine, pharmacodiagnostics, and companion diagnostics.
The increasing occurrence of life-threatening and chronic diseases and the demand for innovative chemotherapeutic treatments associated with the need for improving disease detection are the key factors propelling the global theranostics market. In addition, the rising potential of clinically adaptable nanomaterials in the biological imaging area and therapy is expected to bolster the market growth. Moreover, improved collaboration between drug and diagnostics firms are anticipated to enhance the growth of the theranostics market. In addition, a decrease in costs and reduced time required for medical trials monitored by pharmaceutical segments are another key drivers propelling the growth of the global theranostics market.
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The global theranostics market is segmented on the basis of disease type, technology, and geography. On the basis of disease type, the global theranostics market is segmented into Neurological Disorders, Cardiovascular Diseases, Oncology Disorders, and Immunological Disorders. On the basis of disease type, the oncology segment is anticipated to boost the market growth. Increasing cancer cases and theranostics potentials to make effective cancer care are the factors associated with the market growth. On the basis of technology, the global theranostics market is segmented into Polymerase Chain Reaction (PCR), In-situ Hybridization, Immunohistochemistry, and sequencing. In 2017, the PCR is anticipated to dominate the market growth. The existence of a robust evaluate assortment in terms of polymerase chain reaction (PCR) is accountable for the larger market share.
Some major key players in global theranostics market include F Hoffman La Roche, Thermo Fisher Scientific Inc., GE Healthcare, Agilent Technologies, Qiagen NV, Foundation Medicine, Leica Biosystems Nussloch GmBH, and Pfizer, Inc. among others.