Europe Theranostics Market Quickly Expanding to Reach at High CAGR of 10.6% by 2023-2030
Global Europe Theranostics Market to Witness Huge Growth by Key Players: GE Healthcare, F. Hoffmann La Roche, Owlstone Medical, Agilent Technologies, Qiagen NV, Foundation Medicine, Leica Biosystems Nussloch GmBH, Abbott Laboratories, Beckman Coulter
Hyderabad, Telengana -- (SBWire) -- 02/08/2023 --The Europe Theranostics market is experiencing significant growth due to the increasing demand for personalized medicine and the growing incidence of chronic diseases. Theranostics is an emerging medical field that combines therapeutic and diagnostic techniques to provide effective treatment solutions for patients.
In Europe, the adoption of theragnostics has been facilitated by favorable government policies and the presence of a strong healthcare infrastructure. The increasing number of clinical trials and the availability of technologically advanced imaging equipment are also contributing to the growth of the market.
One of the major drivers of the Europe Theranostics market is the growing incidence of cancer. Cancer is a leading cause of death in Europe and the increasing demand for effective diagnostic and therapeutic solutions is driving the growth of the market. The growing demand for minimally invasive procedures and the increasing availability of advanced diagnostic techniques such as PET/CT scans are also contributing to the growth of the market.
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-Polymerase Chain Reaction (PCR)
- Diagnostic Laboratories
Another factor driving the growth of the Europe Theranostics market is the increasing demand for personalized medicine. Personalized medicine is a medical approach that considers individual patient characteristics such as genetics and lifestyle, to provide a customized treatment plan. The increasing demand for personalized medicine is driving the development of new theragnostics technologies such as nanodiagnostics and nanotherapeutics.
The Europe Theranostics market is highly competitive, with the presence of several large multinational companies and a large number of small and medium-sized enterprises. Some of the key players operating in the market include Roche, Siemens Healthineers, GE Healthcare, and Philips.
In conclusion, the Europe Theranostics market is expected to experience significant growth over the forecast period, driven by the increasing demand for personalized medicine, the growing incidence of chronic diseases, and the availability of advanced diagnostic and therapeutic solutions. The market is expected to provide significant opportunities for companies operating in the sector, and the increasing demand for effective diagnostic and therapeutic solutions is expected to drive the growth of the market in the coming years.
Germany dominates the Europe theranostics market primarily due to its large population, excellent medical infrastructure, and high-income levels. Germany dominates the theranostics market because of its excellent medical facilities, which are also credited with the rising number of cancer patients in the country. Germany has a sizable budget for scientific research, which has led to ongoing advancements in diagnostic techniques and increased the efficiency, accessibility, and precision of cancer diagnosis. German doctors can develop new techniques and cancer-treatment medications because of investments in scientific research. At every level, cancer care in Germany corresponds fully with global standards and recommendations. The nation had the highest cancer patient survival rate in the previous five years. One Nobel laureate German doctor succeeded in creating a vaccine to prevent cervical cancer.
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