In a recent published report, Kenneth Research has updated the market report for Theranostics Market for 2021 till 2030. Report further now discusses; the various strategies to be adopted or being adopted by the business players across the globe at various levels in the value chain. In the view of the global economic slowdown, we further estimated that China, India, Japan and South Korea to recover fastest amongst all the countries in the Asian market. Germany, France, Italy, Spain to take the worst hit and this hit is expected to be regain 25% by the end of 2021- Positive Growth in the economic demand and supply.
U.S. Market recovers fast; In a release on May 4th 2021, the U.S. Bureau and Economic Analsysis and U.S. Census Bureau mentions the recovery in the U.S. International trade in March 2021. Exports in the country reached $200 billion, up by $12.4 billion in Feb 2021. Following the continuous incremental trend, imports tallied at $274.5 billion, picked up by $16.4 billion in Feb 2021. However, as COVID19 still haunts the economies across the globe, year-over-year (y-o-y) avergae exports in the U.S. declined by $7.0 billion from March 2020 till March 2021 whilest imports increased by $20.7 billion during the same time. This definitely shows how the market is trying to recover back and this will have a direct impact on the Healthcare/ICT/Chemical industries, creating a huge demand for Theranostics Market products.
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Kenneth Research has recently added a report titled Theranostics Market in its storehouse of market research reports. The report provides a detailed insight into the market scenario on the basis of the market size and volume for the forecast period, i.e., 2021 2030. Factors such as the growing advancements in the development of novel drugs, coupled with the growing health infrastructure in several nations worldwide are anticipated to drive the growth of the market in the coming years. Moreover, increasing expenditure on healthcare, backed by the need amongst individuals for quality healthcare services, is also anticipated to contribute to the market growth.
According to the statistics by the World Bank, the current health expenditure (% of GDP) around the world increased from 9.08% in 2001 to 9.84% in 2018. Additionally, the current health expenditure per capita (current US$) increased from USD 492.99 in 2001 to USD 1110.84 in 2018. Moreover, growing concern for deaths caused due to various diseases and the need for treatment that can lower the crude death rate, which in the year 2019 recorded close to 7% (per 1000 people), are also anticipated to drive the market growth during the forecast period.
The Global Theranostics Market Size is anticipated to reach over USD 20.52 Billion by 2026 according to a new study published by Polaris Market Research.Theranostics are defined as a combination of diagnostics and drug therapeutics to improve the drug safety, drug restructures development and effectiveness. The combination of effective medical drugs and advanced diagnostic tests has been given numerous names, such as Dx/Rx partnering, integrated medicine, pharmacodiagnostics, and companion diagnostics.
The increasing occurrence of life-threatening and chronic diseases and the demand for innovative chemotherapeutic treatments associated with the need for improving disease detection are the key factors propelling the global theranostics market. In addition, the rising potential of clinically adaptable nanomaterials in the biological imaging area and therapy is expected to bolster the market growth. Moreover, improved collaboration between drug and diagnostics firms are anticipated to enhance the growth of the theranostics market. In addition, a decrease in costs and reduced time required for medical trials monitored by pharmaceutical segments are another key drivers propelling the growth of the global theranostics market.
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The global Theranostics Market is segmented on the basis of disease type, technology, and geography. On the basis of disease type, the global theranostics market is segmented into Neurological Disorders, Cardiovascular Diseases, Oncology Disorders, and Immunological Disorders. On the basis of disease type, the oncology segment is anticipated to boost the market growth. Increasing cancer cases and theranostics potentials to make effective cancer care are the factors associated with the market growth. On the basis of technology, the global theranostics market is segmented into Polymerase Chain Reaction (PCR), In-situ Hybridization, Immunohistochemistry, and sequencing. In 2017, the PCR is anticipated to dominate the market growth. The existence of a robust evaluate assortment in terms of polymerase chain reaction (PCR) is accountable for the larger market share.
Some major key players in global Theranostics Market include F Hoffman La Roche, Thermo Fisher Scientific Inc., GE Healthcare, Agilent Technologies, Qiagen NV, Foundation Medicine, Leica Biosystems Nussloch GmBH, and Pfizer, Inc. among others.
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