US Theranostics Market (2023-2028)

RESEARCH METHODOLOGY

The study involved four major activities in estimating the current size of the theranostics market. Exhaustive secondary research was done to collect information on the market, peer, and parent markets. The next step was to validate these findings, assumptions, and sizing with industry experts across the value chain through primary research. Both top-down and bottom-up approaches were employed to estimate the complete market size. After that, market breakdown and data triangulation were used to estimate the market size of segments and subsegments.

Secondary Research

The secondary research process involves the widespread use of secondary sources, directories, databases (such as Bloomberg Businessweek, Factiva, and D&B Hoovers), white papers, annual reports, company house documents, investor presentations, and SEC filings of companies. Secondary research was used to identify and collect information useful for the extensive, technical, market-oriented, and commercial theranostics market study. It was also used to obtain important information about the key players and market classification & segmentation according to industry trends to the bottom-most level, and key developments related to market and technology perspectives. A database of the key industry leaders was also prepared using secondary research.

Primary Research

In the primary research process, various supply and demand sources were interviewed to obtain qualitative and quantitative information for this report. The primary sources from the supply side include industry experts such as OEMs, CEOs, vice presidents, marketing and sales directors, technology & innovation directors, and related key executives from various key companies and organizations in the theranostics market. The primary sources from the demand side include medical CDMOs, oncologists, doctors, radiologists, technicians, and service providers. Primary research was conducted to validate the market segmentation, identify key players, and gather insights on key industry trends & key market dynamics.

A breakdown of the primary respondents is provided below:

*Others include sales managers, marketing managers, business development managers, product managers, distributors, and suppliers.

Note: Companies are classified into tiers based on their total revenue. As of 2021, Tier 1 = >USD 1,000 million, Tier 2 = USD 500–1,000 million, and Tier 3 = <USD 500 million.

To know about the assumptions considered for the study, download the pdf brochure

Market Estimation Methodology

In this report, the theranostics market’s size was determined using the revenue share analysis of leading players. For this purpose, key players in the market were identified, and their revenues from the market business were determined through various insigh ts gathered during the primary and secondary research phases. Secondary research included the study of the annual and financial reports of the top market players. In contrast, primary research included extensive interviews with key opinion leaders, such as CEOs, directors, and key marketing executives.

Segmental revenues were calculated based on the revenue mapping of major solution/service providers to calculate the global market value. This process involved the following steps:

• Generating a list of major global players operating in the theranostics market.
• Mapping annual revenues generated by major global players from the product segment (or nearest reported business unit/category)
• Revenue mapping of major players to cover a major share of the global market share, as of 2022
• Extrapolating the global value of the theranostics market industry

Data Triangulation

After arriving at the overall market size from the market size estimation process explained above, the global theranostics market was split into segments and subsegments. Data triangulation and market breakdown procedures were employed to complete the overall market engineering process and arrive at the exact statistics for all segments and subsegments. The data was triangulated by studying various factors and trends from both the demand and supply sides. Additionally, the market was validated using top-down and bottom-up approaches.

Market Definition

Theranostics is a term used for diagnosis and therapy. Theranostics can be broadly defined as a combination of molecularly targeted imaging and therapy, whereas imaging helps to gain information regarding presence of targeted moleculaes on cell surface and therapy progression. Radiotheranostics involves the use of radionuclide/radiopharmaceutical that delivers targeted radiation to kill the cancerous cells and imaging modality such as positron emission tomography (PET) is used to locate the cancer.  FDA approved theranostics procedures are performed for different applications such as prostate cancer, neuroendocrine tumor, etc. These procedures are mainly performed in hospitals, cancer care centers, and  theranostics centers.

Key Stakeholders

• Senior Management
• End Users
• R&D Department
• Finance/Procurement Department

Objectives of the Study

• To define, describe, and forecast the size of theranostics market based on product, application, end user, and region
• To provide detailed information regarding the major factors influencing the growth potential of the global market (drivers, restraints, opportunities, challenges, and trends)  
• To analyze the micro markets with respect to individual growth trends, prospects, and contributions to the global market.   
• To analyze key growth opportunities in the global market for key stakeholders and provide details of the competitive landscape for market leaders
• To forecast the size of market segments and/or subsegments with respect to three major regions, namely, North America (US and Canada), Europe (Germany, France, the UK, and the RoE), Asia Pacific (Japan, China, India, and the RoAPAC), and Rest of the World (Latin America and Middle East and Africa).
• To profile the key players in the market and comprehensively analyze their market shares and core competencies.
• To track and analyze the competitive developments undertaken in the global market, such as product launches; agreements; expansions; and mergers & acquisitions.

Available Customizations

With the given market data, MarketsandMarkets offers customizations per the company’s specific needs. The following customization options are available for the present global theranostics market report:

Product Analysis

• Product matrix, which gives a detailed comparison of the product portfolios of the top fifteen companies

Company Information

• Detailed analysis and profiling of additional market players (up to five)

Geographic Analysis

• Further breakdown of the Rest of Europe theranostics market into Italy, Spain Russia, Belgium, the Netherlands, Switzerland, Austria, Finland, Sweden, Poland, and Portugal, among others
• Further breakdown of the Rest of Asia Pacific theranostics market into Australia, South Korea, Singapore, Taiwan, New Zealand, Philippines, Malaysia, and other APAC countries