North America Radiopharmaceutical Theranostics Market Key Companies and SWOT Analysis by 2028

The North America radiopharmaceutical theranostics market size is expected to grow from US$ 795.88 million in 2022 to US$ 1,529.88 million by 2028; it is estimated to record a CAGR of 11.5% from 2022 to 2028.

The North America radiopharmaceutical theranostics market is segmented on the basis of product type, radioisotope, source, application, indication, end user, and country. The report offers insights and in-depth analysis of the market, emphasizing parameters such as dynamics, trends, and opportunities prevailing in the market. It also provides the competitive landscape analysis of leading market players in North America.

Market Insights

Rising Application in Treatment of Cardiovascular Disorders Drives North America Radiopharmaceutical Theranostics Market Growth

Atherosclerosis remains a dominant cause of cardiovascular diseases (CVDs). It acts as a life-threatening CVD resulting in chronic inflammation and abnormal lipid proliferation, and it is often difficult to treat on time due to the lack of noticeable symptoms in the initial phases. Due to their associated complexity and pathophysiology, CVDs have been presenting major challenges to healthcare systems in North American countries. Per the 2022 report by the Centers for Disease Control and Prevention (CDC), heart disease is a leading cause of death among men and women in the US. It was a cause of ~697,000 deaths, i.e., 1 in 5 deaths, in the US in 2020. A National Institute of Health (NIH) report states that theranostic nanoparticles have gained significant attention in the medical field, as the techniques help overcome complexities and pathophysiological complications associated with CVDs. Cardiovascular imaging of atherosclerosis patients provides pathophysiological evidence that can be used to treat these diseases. Further, theranostic nanoparticles can be combined with a range of imaging techniques, such as magnetic resonance imaging (MRI), positron emission tomography (PET), and computed tomography (CT). Various clinical research studies have been conducted in clinical laboratories so far. A three-in-one therapeutic complex has been constructed by combining a polymeric photoacoustic probe with nanoparticles-PLCDP@PMH. Clinical in-vivo evaluations reveal that the PLCDP@PMH supports the theranostics approach by enabling early-stage atherosclerosis detection in patients.

North America Radiopharmaceutical Theranostics Market: Strategic Insights

Product Type-Based Insights

Based on product type, the North America radiopharmaceutical theranostics market is segmented into positron emission tomography (PET) tracers, beta emitters, and alpha emitters. In 2022, the positron emission tomography (PET) tracers segment held the largest share of the market, and it is anticipated to register the highest CAGR during the forecast period.

North America Radiopharmaceutical Theranostics Market, by Product Type – 2022–2028

Based on radioisotope, the North America radiopharmaceutical theranostics market is divided into Lutetium (Lu) 177, Gallium-68, Iodine-131, Iodine-123, Technetium-99, Yttrium-90 (Y-90), Copper (Cu) 64, 18F, Copper (Cu) 67, and others. In 2022, the Lutetium (Lu) 177 segment held the largest share of the market and is anticipated to register the highest CAGR during the forecast period.

Source-Based Insights

Based on source, the North America radiopharmaceutical theranostics market is bifurcated into cyclotrons and nuclear reactors. The cyclotrons segment held a larger share of the market in 2022, and it is expected to record at a higher CAGR during the forecast period.

Application-Based Insights

Based on application, the North America radiopharmaceutical theranostics market is bifurcated into targeted therapeutic (Rx) and companion diagnostic (CDx). In 2022, the targeted therapeutic (Rx) segment held a larger share of the market, and it is anticipated to register a higher CAGR during the forecast period.

Indication-Based Insights

Based on indication, the North America radiopharmaceutical theranostics market is segmented into oncology, neurology, cardiology, and others. The oncology segment held the largest share of the market in 2022, and it is anticipated to register the highest CAGR during the forecast period.

End User-Based Insights

Based on end user, the North America radiopharmaceutical theranostics market is segmented into hospitals, diagnostic imaging centers, academic and research institutes, and others. The hospitals segment held the largest market share in 2022. However, the academic and research institutes segment is anticipated to register the highest CAGR during the forecast period. Hospitals employ technologically advanced systems to treat cardiac aneurysms, neurology aneurysms, oncology tumors, and other similar conditions. The rising prevalence of various diseases and an increasing number of hospitals contribute to the growth of the market for hospitals segment.

The North America radiopharmaceutical theranostics market players adopt organic strategies, such as product launch and expansion, to expand their footprint and product portfolio and meet growing demands. Inorganic growth strategies witnessed in the market are partnerships and collaborations. These growth strategies have allowed the market players to expand their businesses and enhance their geographic presence. Additionally, acquisitions, partnerships, and other growth strategies help them strengthen their customer base.

• In October 2022, Telix received Health Canada approval for its Illuccix, a kit for the preparation of gallium (68Ga) gozetotide injection. The product can be used in staging and re-staging intermediate and high-risk prostate cancer and localizing tumor tissue in recurrent prostate cancer. Illuccix was the first PSMA PET imaging agent that was granted regulatory approval in Canada. Health Canada was the third regulatory body worldwide to approve Illuccix, which is commercially available in Australia and the US.
• In December 2021, GE Healthcare and Minerva Imaging entered in a strategic partnership to accelerate the commercial launch of targeted radionuclide therapies (theranostics). Radionuclide therapy is a form of precision medicine where a radioactive substance is administered through the bloodstream to target cancer cells and irradiate them specifically. This helps reduce potential side effects compared to traditional cancer therapies.

Company Profiles

• 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
• NuView Life Sciences

North America Radiopharmaceutical Theranostics Market Players Density: Understanding Its Impact on Business Dynamics

The North America Radiopharmaceutical Theranostics Market is growing rapidly, driven by increasing end-user demand due to factors such as evolving consumer preferences, technological advancements, and greater awareness of the product's benefits. As demand rises, businesses are expanding their offerings, innovating to meet consumer needs, and capitalizing on emerging trends, which further fuels market growth.