Theranostics is the combination of drug treatment and diagnostics to maximize efficacy, security and expand as well as modernize drug growth. The global theranostics market is an evolving sector that is producing great interest from healthcare segment and regulatory authorities. It is an evolving clinical diagnostics area that concentrates on building particular analysis to foretell the utility of most vital medicine for patient. This method makes use of molecular essays to decide the maximum necessary medicine dose for the patient. Price and regulatory timelines are few of the main threats faced by this theranostics industry.
Enhanced cooperation between drug, medicine and diagnostics firms is predicted to enhance the growth of the theranostics market. Also reduction in costs and time required for clinical experiments by pharmaceutical sector are the key drivers stimulating the growth of the global theranostics market. Further, private-public collaborations between firms like NyIncare and Amsterdam Castle are stimulating the research in theranostics equipments. Such kinds of associations are predicted to fuel the growth and expansion of the global theranostics market.
It is projected that more than one lakh deaths take place in US each year owing to adverse effects of approved medicines and drugs. The related prices led to approximately about 82.94 billion USD each year, thereby enhancing the demand for utilizing theranostics technique before approval of medicines (or drugs), just after drug or medicine is introduced in the business sector. The limited utility of investigative experiment is the other key factor driving the growth of the global theranostics market.
The bifurcation of the global theranostics market is based on its applications and uses in various ailments like cardiovascular ailments, neuro disorders ailments and cancer ailments. As per the WHO reports, nearly about ten million new cancer cases are detected each year globally and it is one of the key areas of health concerns.
Curative methods with minimum adverse effects and enhanced diagnostics are mainly needed to treat the ailment of cancer. It is recognized that theranostics imaging assist in killing prostate cancer cells without doing any damage to fit tissues of cells. Today, there are researches and discoveries taking place in the field of cancer by using the theranostics instruments. This is owing to the known fact that they diagnose the cells responsible for creating cancer tumors particularly by the utilization of gadolinium loaded nanoparticles.
The global theranostics market of neuro disorders is predicted to witness a fast growth during the forecasted period. This is due to technological modernizations like transcranial brain drug delivery, trans nasal brain drug delivery, small molecule lipidization and blood brain barrier disruption. With the growth of nano imaging and nano therapy there are new methods being built that transform non brain penetrating medicine to a molecule that easily crosses blood brain barrier in substantial proportions. In many of the instances , external defibrillator are utilized to detect abnormal heart beats, cardiac arrhythmia and in hand electrical power delivery to retain the heart beats and benefit in case of emergency to save patient life by avoiding the patient collapse due to unexpected cardiac heart arrest.
The theranostics market is segmented into five regions depending upon its geographical locations. This includes sub continent of North America, continent of Europe, region of Latin America, Asia Pacific Zone and region of Middle East and Africa.
The sub continent of North America is one of the biggest regional sections of the theranostics market followed by continent of Europe. Theranostics is broadly accepted in regions of North America owing to the presence of ailments like cancer, psychosomatic or neurological disorders and awareness among medical practitioners about the modern techniques as well procedures about treating these ailments.
As per the current reports, the theranostics industry in continent of Europe and USA is predicted to witness growth and expansion of approximately 237% and is going to increase in future.
The theranostics market of European continent acquires maximum market share in the theranostics device industry.
The market report also contains detailed information about macroeconomic as well as microeconomic business environment which assists the existing market players as well as the new market entrants in their business decisions and help them to grow their business.
All these concepts are explained in the market report by using the pictorial tools of graphical data representation like tables, spreadsheets, histograms, bar diagrams, pie charts and graphs.
The key market players of global theranostics market includes Becton, Litholink Corporation, Pfizer, Oxford Immunotec, Dade Behring, , Monogram Bioscience, Dianon Systems, US LABS, Prometheus, Qiagen, 23andMe, EntroGen, Pathway Genomics, Esoterix, CDC (Center for Disease Control and Prevention), Abbott Laboratories, Dianon Systems, Modern Health Systems, Axis-Shield, Focus Diagnostics, Siemens, Enterix, Hologic, bio Theranostics, FDA(Food and Drug Administration),National Health Service, OraSure Technologies,Vermillion Diagnostics,Dynacare Laboratories, BIOTEC Laboratories, Duke University,Roche,Warner-Chilcott,ViroMed Laboratories, Quest Diagnostics, National Genetics Institute, Radient Pharmaceuticals, AmeriPath, EDMA (European Diagnostic Manufacturers Association),Walgreens, Laboratory Corporation of America, National Genetics Institute, EMEA (European Medicines Evaluation Agency), Dickinson & Company,ParagonDx, Navigenics,Beckman Coulter, HemoCue, Genetics & Public Policy Center,Myriad Genetics,World Health Organization and Home Access Health.
Mergers, associations, acquisitions and partnerships are extensively used business strategies executed and implemented by the industry participants in order to recognize proficient procedures and investigative trials for purpose of detection & diagnosis. For example, diagnostic test developed jointly by Cambridge Theranostics and Nestle ( as partners or associates) has resulted in development of diagnostic test that diagnose and detect arthrosclerosis patients or patients who are at a risk of getting afflicted or affected by arthrosclerosis.
Global Market Estimate and Forecast, 2012 - 2022 (USD Million)
Research Methodology, Importance and Sources
Theranostics Market Industry Position
Theranostics Market Application View
Theranostics Market Regional View