Theranostics
involves combination of targeted diagnostic tests with targeted
therapy. It is also known as companion diagnostics, integrated
medicine, Dx/Rx partnering, and pharmacodiagnostics. Implementation
of theranostics into the patient care plan (in case of selected
diseases for which diagnostic tests are available along with
respective therapy) may turn into personalized therapy, which could
further improve medical outcomes.
Theranostics
include use of specific diagnostic test, which shows a particular
molecular target on a tumor or any other disease causing agent. Any
disease pathophysiology involves specific biological pathways, which
are targeted with the help of diagnostic tests. Diagnostic images of
the particular molecule then identifies presence of the specific
mutation or receptors (in case of cancer), which can be targeted with
the help of therapeutic agents. This approach avoids trial and error
treatment and could be used to offer patient specific treatment at
the right time. Accurate dose calibration and precisely targeted
approach could highly be useful in management of chronic diseases
such as cancer.
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Global
Theranostics Market Drivers:-
Development
of novel companion diagnostic tests to be used with available
treatment options is expected to boost the global theranostics market
growth over the forecast period. Leading manufacturers are engaged in
introduction of novel companion diagnostic tests in market. For
instance, Illumina, Inc. announced launch of the U.S. Food & Drug
Administration (FDA) approved extended RAS panel for identification
of patients eligible for treatment of metastatic colorectal cancer
with Vectibix (panitumumab) in 2017.
Increasing
adoption of companion diagnostic tests by laboratories is further
expected to foster global theranostics market growth over the
forecast period. BloodCenter of Wisconsin's Diagnostic Laboratories
started offering Abbott RealTime IDH1 assay for patients with acute
myeloid leukemia (AML) in July 2018. Moreover, Cancer Genetics, Inc.
started offering FDA approved companion diagnostic Thermo Fisher
Scientific's Oncomine Dx Target - the first Next-Generation
Sequencing (NGS)-based Companion Diagnostic (CDx) test in 2017.
Laboratory Corporation of America Holdings launched OmniSeq Advance
in partnership with OmniSeq for tumor cancers in June 2018.
Global
Theranostics Market Regional Insights:-
North
America is expected to witness significant growth in the global
theranostics market over the forecast period. Presence of leading
manufacturers, collaborations, robust research, and development
activities, and increasing adoption of companion diagnostics is
expected to support global theranostics market growth over the
forecast period. Biocartis Group NV and Amgen, Inc. partnered to
develop companion diagnostic test for Amgen's drug Vectibix
(panitumumab) in 2017. For instance, Genome Canada launched a
national initiative for clinical implementation of precision health
in June 2018, which would ultimately impact global theranostics
market growth over the forecast period.
Key
players of Global Theranostics Market:-
Key
players operating in the global theranostics market include Thermo
Fisher Scientific, Inc., Beckman Coulter, Inc., Focus Diagnostics,
AmeriPath, Inc., Illumina, Inc., F.Hoffmann LA-Roche Ltd., Qiagen NV,
Myriad Genetics, Inc., Agilent Technologies, Abbott Laboratories,
Foundation Medicine, Inc., and Oxford Cancer Biomarkers, Ltd.
Global
Theranostics Market Taxonomy:-
Global
theranostics market is segmented on the basis of therapeutic area,
technology, end users, and region
By
Therapeutic Area-
-
Oncology
-
Breast Cancer
-
Lung Cancer
-
Colorectal Cancer
-
Cervical Cancer
-
Others
-
Cardiovascular Diseases
-
Neurological Disorders
-
Immunological Disorders
-
Others
By
Technology:-
-
Polymerase Chain Reaction (PCR)
-
Immunohistochemistry
-
In Situ Hybridization
-
Sequencing
-
Others
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