Europe Theranostics Market - 2023-2030

Europe Theranostics Market - 2023-2030

Market Overview
The Europe theranostics market size was valued at US$ 501.86 million in 2022 and is estimated to reach US$ 1,104.22 million by 2030, growing at a CAGR of 10.6% during the forecast period (2023-2030).

Theranostics involves a combination of targeted diagnostic tests with targeted therapy. Theranostics include using a specific diagnostic test, which shows a distinct molecular target on a tumor or any other disease-causing agent. The technique holds the potential to identify specific mutations with the help of therapeutic agents, thus optimizing drug effectiveness and safety. Theranostics is also referred to as companion diagnostics, Dx/Rx partnering, or pharmacodiagnostics.

Market Dynamics
The major factors driving the Europe theranostics market are the increasing research & development, rising novel companion diagnostic product launches and market expansion is projected through partnerships and collaborations between key players to develop novel companion diagnostics.

Partnerships and collaborations between key players to develop novel companion diagnostics is expected to drive the market’s growth.

Market expansion is projected through partnerships and collaborations between key players to develop novel companion diagnostics. For instance, in October 2022, The European Association of Nuclear Medicine (EANM) Annual Congress will be placed in Barcelona from October 15–19, 2022. Telix Pharmaceuticals Limited announces its attendance. This year's EANM is being hosted in person for the first time since 2019, and Telix is happy to have such a significant presence there. The company-sponsored event offers information on developments in genitourinary oncology patient care, surgery, and imaging. The depth of the business' innovative theranostic pipeline demonstrates its dedication to and advancements in nuclear medicine for various reasons.

And in November 2022– MGI, a company committed to advancing life science, has launched a brand-new Customer Experience Center (CEC) in Berlin, Germany. The CEC is located at the Illumina Inc. GmbH (ALACRiS) facility. Illumina Inc. combines distinctive clinical solutions in precision oncology with MGI's strong technological platforms to provide value for its regional clients and partners. MGI's technology will also complement ALACRiS's comprehensive molecular tumor analysis (CMTA), providing benchmark data and an end-to-end procedure for usage in clinical and research contexts.

High costs associated with theranostics products are expected to hamper the market growth.

However, the stringent regulations and high cost of theranostics products are the major factors restricting the growth of the global theranostics market. Nanomedicine products are expensive and need more research and development than traditional treatments such as chemotherapy.

COVID-19 Impact Analysis
The epidemic has benefited world operations, financial expectations, and crisis response plans. The COVID-19 outbreak has badly damaged the healthcare sector. Since numerous research and clinical trials were launched in full swing due to the growing number of COVID cases, the theranostics market has seen enormous revenues due to COVID. Due to the widespread usage of nanomedicine, significant key companies employ companion medicines to treat various ailments. Medical experts researched the virus' presence in the body and tried to treat it with theranostics, but once the pandemic was under control and the virus changed people's lives, it was no longer a pandemic. Over Europe, several initiatives, partnerships, and acquisitions are taking place, supporting the market's expansion.

Segment Analysis
The oncology diseases segment is expected to grow at the fastest CAGR during the forecast period (2023-2030)
The market share for disease segment is anticipated to be high. The market is driven by the rising cancer incidence in the segment. For instance, the Joint Research Centre (JRC) of the European Commission and the International Agency for Research on Cancer recently published updated estimates of the burden of cancer in each of the 27 member states of the European Union (EU) (IARC). There are projected to be 1.3 million cancer-related deaths and 2.7 million new cancer cases worldwide in 2020 (excluding non-melanoma skin cancers). Female breast cancer continues to be the most frequently diagnosed in EU-27 countries.

The JRC, IARC, and European Network of Cancer Registries worked productively to produce the 2020 incidence and mortality projections (ENCR). The estimations rely on data from population-based cancer registries accessible throughout Europe. The JRC European Cancer Information System (ECIS) web application now has access to them. Later in 2020, IARC will publish a new set of GLOBOCAN 2020 estimates for 185 countries on the Global Cancer Observatory. These estimates will be included in that collection.

Geographical Analysis
Germany holds the largest market share in the Europe Theranostics market.

Germany dominates the Europe theranostics market primarily due to its large population, excellent medical infrastructure, and high-income levels. Germany dominates the theranostics market because of its excellent medical facilities, which are also credited with the rising number of cancer patients in the country. Germany has a sizable budget for scientific research, which has led to ongoing advancements in diagnostic techniques and increased the efficiency, accessibility, and precision of cancer diagnosis. German doctors can develop new techniques and cancer-treatment medications because of investments in scientific research. At every level, cancer care in Germany corresponds fully with global standards and recommendations. The nation had the highest cancer patient survival rate in the previous five years. One Nobel laureate German doctor succeeded in creating a vaccine to prevent cervical cancer.

The German stationary healthcare system provides the full spectrum of medical treatments, up to the highest quality of care, with more than 30 university hospitals, about 1,000 public and nonprofits hospitals, and close to 600 hospitals owned by commercial enterprises. Germany's internationally recognized Medical Excellence comprises physicians with exceptional credentials, highly skilled nursing personnel, first-rate diagnostic facilities, and first-rate healthcare infrastructure. Germany has become a prominent destination for medical tourists over the past few years since this expertise is also becoming more and more accessible to patients from overseas.

Competitive Landscape
The theranostics market is moderately competitive with local and Europe companies’ presence. GE Healthcare, F. Hoffmann La Roche, Owlstone Medical, Agilent Technologies, Qiagen NV, Foundation Medicine, Leica Biosystems Nussloch GmBH, Abbott Laboratories, Beckman Coulter. The key players are adopting various growth strategies such as product launches, mergers & acquisitions, partnerships, and collaborations, contributing to the market’s growth. For instance, in December 14, 2021, GE Healthcare and Minerva Imaging have formed a strategic agreement in order to hasten the commercialization of customized radionuclide therapy (Theranostics). As part of radionuclide therapy, a form of precision medicine, a radioactive substance is injected into the bloodstream to specifically target and irradiate cancer cells.

GE HealthCare.
Overview: GE HealthCare Technologies Inc. (GE HealthCare) is a leading global provider of medical devices, specializing in the design, development, production, and distribution of diagnostic imaging, clinical systems, drug discovery, biopharmaceutical production, cellular technologies, imaging agents for use in medical scanning, and a variety of healthcare IT products. Additionally, GE HealthCare offers services including computerized data management, performance enhancement and performance solutions, and remote diagnosis and repair services for medical devices made by the business and others.

Product Portfolio
Omni Legend: Only GE’s PET/CT scanners prioritize sensitivity, quantitation accuracy, and real-time motion correction for personalized diagnosis and efficient imaging for Theranostics treatment monitoring.
The Europe Theranostics market report would provide access to approx.: 45+market data table, 40+figures and 200 (approximate) pages.


1. Methodology and Scope
1.1. Research Methodology
1.2. Research Objective and Scope of the Report
2. Market Definition and Overview
3. Executive Summary
4. Market Dynamics
4.1. Market Impacting Factors
4.1.1. Drivers
4.1.1.1. Increasing research & development
4.1.1.2. Rising novel companion diagnostic product launches.
4.1.2. Restraints:
4.1.2.1. High costs associated with theranostics products are expected to hamper the market growth.
4.1.3. Opportunity
4.1.4. Impact Analysis
5. Industry Analysis
5.1 Porter's Five Forces Analysis
5.2 Supply Chain Analysis
5.3 Pricing Analysis
5.4 Regulatory Analysis
6. COVID-19 Analysis
6.1. Analysis of Covid-19 on the Market
6.1.1. Before COVID-19 Market Scenario
6.1.2. Present COVID-19 Market Scenario
6.1.3. After COVID-19 or Future Scenario
6.2. Pricing Dynamics Amid Covid-19
6.3. Demand-Supply Spectrum
6.4. Government Initiatives Related to the Market During the Pandemic
6.5. Manufacturer’s Strategic Initiatives
6.6. Conclusion
7. By Disease
7.1. Introduction
7.1.1. Market Size Analysis and Y-o-Y Growth Analysis (%), By Disease
7.1.2. Market Attractiveness Index, By Disease
7.2. Oncology Diseases
7.2.1. Introduction
7.2.2. Market Size Analysis US$ Million, 2020-2029 and Y-o-Y Growth Analysis (%), 2021-2029
7.3. Neurology Diseases
7.4. Cardiovascular Diseases
7.5. Immunological Diseases
7.6. Others
8. By Technology
8.1. Introduction
8.1.1. Market Size Analysis and Y-o-Y Growth Analysis (%), By Technology
8.1.2. Market Attractiveness Index, By Technology
8.2. Polymerase Chain Reaction (PCR)
8.2.1. Introduction
8.2.2. Market Size Analysis US$ Million, 2020-2029 and Y-o-Y Growth Analysis (%), 2021-2029
8.3. In-Situ Hybridization
8.4. Immunohistochemistry
8.5. Sequencing
9. By End-User
9.1. Introduction
9.1.1. Market Size Analysis and Y-o-Y Growth Analysis (%), By End-User
9.1.2. Market Attractiveness Index, By End-User
9.2. Hospitals
9.2.1. Introduction
9.2.2. Market Size Analysis US$ Million, 2020-2029 and Y-o-Y Growth Analysis (%), 2021-2029
9.3. Diagnostic Laboratories
9.4. Others
10. By Country
10.1. Introduction
10.1.1. Market Size Analysis, US$ Million, 2021-2029 and Y-o-Y Growth Analysis (%), 2021-2029, By Country
10.1.2. Market Attractiveness Index, By Country
10.2. Germany
10.2.1. Introduction
10.2.2. Key Country-Specific Dynamics
10.2.3. Market Size Analysis, and Y-o-Y Growth Analysis (%), By Disease
10.2.4. Market Size Analysis, and Y-o-Y Growth Analysis (%), By Technology
10.2.5. Market Size Analysis, and Y-o-Y Growth Analysis (%), By End user
10.3. U.K.
10.3.1. Introduction
10.3.2. Key Country-Specific Dynamics
10.3.3. Market Size Analysis, and Y-o-Y Growth Analysis (%), By Disease
10.3.4. Market Size Analysis, and Y-o-Y Growth Analysis (%), By Technology
10.3.5. Market Size Analysis, and Y-o-Y Growth Analysis (%), By End user
10.4. France
10.4.1. Introduction
10.4.2. Key Country-Specific Dynamics
10.4.3. Market Size Analysis, and Y-o-Y Growth Analysis (%), By Disease
10.4.4. Market Size Analysis, and Y-o-Y Growth Analysis (%), By Technology
10.4.5. Market Size Analysis, and Y-o-Y Growth Analysis (%), By End user
10.5. Italy
10.5.1. Introduction
10.5.2. Key Country-Specific Dynamics
10.5.3. Market Size Analysis, and Y-o-Y Growth Analysis (%), By Disease
10.5.4. Market Size Analysis, and Y-o-Y Growth Analysis (%), By Technology
10.5.5. Market Size Analysis, and Y-o-Y Growth Analysis (%), By End user
10.6. Spain
10.6.1. Introduction
10.6.2. Key Country-Specific Dynamics
10.6.3. Market Size Analysis, and Y-o-Y Growth Analysis (%), By Disease
10.6.4. Market Size Analysis, and Y-o-Y Growth Analysis (%), By Technology
10.6.5. Market Size Analysis, and Y-o-Y Growth Analysis (%), By End user
10.7. Rest of Europe
10.7.1. Introduction
10.7.2. Key Country-Specific Dynamics
10.7.3. Market Size Analysis, and Y-o-Y Growth Analysis (%), By Disease
10.7.4. Market Size Analysis, and Y-o-Y Growth Analysis (%), By Technology
10.7.5. Market Size Analysis, and Y-o-Y Growth Analysis (%), By End user
11. Competitive Landscape
11.1. Key Developments and Strategies
11.2. Company Share Analysis
11.3. Products Benchmarking
11.4. List of Key Companies to Watch
12. Company Profiles
12.1. GE Healthcare
12.1.1. Company Overview
12.1.2. Product Portfolio and Description
12.1.3. Key Highlights
12.1.4. Financial Overview
12.2. F. Hoffmann La Roche
12.3. Illumina Inc.
12.4. Owlstone Medical
12.5. Agilent Technologies
12.6. Qiagen NV
12.7. Foundation Medicine
12.8. Leica Biosystems Nussloch GmBH
12.9. Abbott Laboratories
12.10. Beckman Coulter.
LIST NOT EXHAUSTIVE
13. Europe Theranostics Market – DataM
13.1. Appendix
13.2. About Us and Application
13.3. Contact Us

Download our eBook: How to Succeed Using Market Research

Learn how to effectively navigate the market research process to help guide your organization on the journey to success.

Download eBook
Cookie Settings