North America Theranostics Market

North America Theranostics Market Size

The size of the North America theranostics market was worth USD 36.51 million in 2024. The North america market is anticipated to grow at a CAGR of 11.59% from 2025 to 2033 and be worth USD 98 million by 2033 from USD 41 million in 2025.

In North America, the United States holds the highest shares of the market. Rising chronic incidences and cancer patients are key factors contributing to the theranostics market growth in this part of the world. Increasing demand for patience for better healthcare treatment and willingness to afford better healthcare treatment is enhancing the market demand.

Canada follows the United States and dominates the shares of market share. Growing government investment in research and development is also driving demand for the theranostics market in North America. Increasing investment in research organizations in the biotechnology field is additionally prompting the growth rate of the market. Increasing awareness among people about diagnostic procedures and the rising interest of people in early diagnosis is also escalating the demand of this market.

MARKET DRIVERS

The increasing incidence of cardiovascular and oncology diseases is the key factor in driving the growth of the market.

According to the World Health Organization, it is estimated that 17.9 million people suffer from cardiovascular disease annually. Continuous research and development in the region for drug development contribute to the growth of the market. The entry of new key players is propelling the growth of the market. In 2018, Amgen Inc. and Biocartis Group NV entered into a partnership for the development of a diagnostic test for the Vectibix drug.

Increasing incidences of acute medical conditions, such as neurological diseases and cancer, propel the growth of the market. Report to the National Cancer Institute, in 2019, it is estimated that 1853890 new cases of cancer were diagnosed in the United States. Availability of technologically advanced infrastructure, presence of the key players in pharmaceutical organizations, and strong research and development are fueling the market in the United States.

MARKET RESTRAINTS

However, a lack of awareness about post-cancer treatments, and a shortage of experienced physicians due to a lack of research training programs are hindering the demand of the market. High cost for the maintenance and installation of healthcare devices in medical laboratories is also a factor limiting the demand of the market. Strict rules by the government for the approval of new healthcare products are some of the challenging factors for market growth.

REPORT COVERAGE

​​​​​​COUNTRY LEVEL ANALYSIS

Regionally, the United States holds the major share in the market due to the presence of market leaders as well as developed healthcare and pharmaceutical infrastructure. The U.S. is also the fastest-growing region due to increasing expenditure on health care, product innovation, and increasing disposable income. Canada is following the US is dominating the shares of the market. Increasing incidences of chronic diseases are a major factor propelling the demand of the market to some extent. 

MARKET KEY PLAYERS

Companies playing a dominant role in the North America Theranostics Market profiled in this report are Abbott Laboratories, AmeriPath, Dickinson and Company, BIOTEC Laboratories, Dade Behring, Dianon Systems, Dynacare Laboratories, Enterix, Focus Diagnostics, Pfizer, and Beckman Coulter.

MARKET SEGMENTATION

This research report on the North America theranostics market is segmented and sub-segmented into the following categories.

By Disease Type

• Neurological Disorders
• Cardiovascular Diseases
• Immunological Disorders
• Oncology
• Others

By Technology

• Polymerase Chain Reaction (PCR)
• Immunohistochemistry
• In Situ Hybridization
• Sequencing
• Others

By End-User

• Hospitals
• Diagnostics Laboratories
• Others

By Country

• United States
• Canada
• Mexico
• Rest of North America