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Gus Iversen, Editor in Chief | November 04, 2025
The global theranostics market is projected to reach $7.56 billion by 2033, more than tripling from its 2024 estimate of $2.40 billion, according to a recent report by DataM Intelligence.
The market is expected to grow at a compound annual rate of 15.4% between 2025 and 2033.
Theranostics combines diagnostic imaging and targeted therapies, primarily in oncology, to enable more personalized treatment approaches. Demand for precision medicine and increased use of radiopharmaceuticals are fueling expansion across hospital systems, research centers, and diagnostic labs.
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North America held the largest market share in 2024, but Asia Pacific is projected to be the fastest-growing region, bolstered by new research initiatives and technology adoption.
Key developments in the sector include expanded regulatory approvals and technological upgrades. In September 2025, Novartis received FDA approval for Pluvicto (lutetium Lu 177 vipivotide tetraxetan) for earlier-line treatment of metastatic castration-resistant prostate cancer. That same year, GE HealthCare launched a new PET/CT platform with AI-supported lesion quantification aimed at streamlining theranostic workflows in oncology.
Other notable developments include Bayer Pharmaceuticals initiating a Phase 2 trial of its alpha-emitting radiopharmaceutical for neuroendocrine tumors and Siemens Healthineers extending its partnership with Theranostics Inc. to automate radiopharmaceutical production processes.
Japanese companies have also increased investment. Fujifilm Toyama Chemical launched a collaborative PET imaging research program with RIKEN, and Takeda partnered with the National Cancer Center Japan to develop radiotheranostic treatments for HER2-positive cancers.
Major players in the market include GE HealthCare, Jubilant Pharmova Limited, Theragnostics Ltd., Lantheus Holdings Inc., Clarity Pharmaceuticals, and Advanced Accelerator Applications.
Theranostics technologies continue to benefit from rising cancer prevalence, advancements in radiochemistry, and growing clinical acceptance of targeted imaging and treatment strategies.
