The global thyroid cancer market size is estimated to be worth USD 1072 million by 2027 from USD 345 million in 2022, growing at a CAGR of 25.45% during the forecast period.
Thyroid tumor is treated by surgery and radiotherapy. Chemotherapy has less part to play in the treatment. Essentially doxorubicin is utilized as an off-label drug for treating patients with plastic thyroid cancer; likewise, some other off-name medications, for example, cisplatin and carboplatin, are being used. However, they have brought down response rates. The high development figure for the thyroid growth therapeutics market is essentially credited to a strong pipeline.
The thyroid cancer Market is strong, as 27 molecules are in different stages of development. There are four molecules in Phase III (3) and Pre-registration (1). These drugs most probably get approved in the next seven years. The FDA has granted Zactima, XL184, and, Zybrestat orphan drug status. Once the above molecules get approved, it will intensify the competition in Thyroid Cancer Market, which results in substantial growth in the market. Current competition in the Thyroid cancer market is significantly less. Some effective treatments like Surgery exist, and chemotherapy drugs are also used. Companies such as Doxorubicin, which aims at managing conditions, are prone to get more considerable success in the future.
The increasing number of thyroid cancer patients and the rise in awareness over the availability of different treatment procedures are lavishing the growth of the thyroid cancer market. Also, increasing investments in healthcare centers by both private and public organizations are fueling the demand of the market.
Growing support from the government by changing schemes and the launch of reimbursement in favor of the ordinary people is to set up growth opportunities for the market. Increasing demand to improve the treatment procedures with quality and the rise in healthcare expenditure are likely to outshine the growth of the thyroid cancer market. The growing geriatric population is also one of the factors fueling the development of the market.
However, treatment for thyroid cancer involves high costs, which restrains the market demand slowly. Also, the cost of installing and maintaining the equipment is a bit expensive, which is a factor limiting the demand of the market. The absence of skilled persons in performing surgeries has remained a challenging factor for market developers. Lack of standardization may also hinder the growth of the thyroid cancer market.
Market Size Available
2021 to 2027
2022 to 2027
By Treatment, End-User & Region
Various Analyses Covered
Global, Regional & Country Level Analysis, Segment-Level Analysis, DROC, PESTLE Analysis, Porter’s Five Forces Analysis, Competitive Landscape, Analyst Overview on Investment Opportunities
North America, Europe, APAC, Latin America, Middle East & Africa
Market Leaders Profiled
Mylan Pharmaceuticals Inc., Alara Pharmaceutical Corporation, Bristol Myers co., Teva parenteral medicines Inc., Jerome Stevens Pharmaceuticals Inc., Baxter International Inc., Abbott laboratories and App pharmaceuticals LLC.
This research report on the global thyroid cancer market has been segmented and sub-segmented based on the treatment, end-user, and region.
Thyroid Cancer Market – By Treatment:
Based on treatment, the Surgery treatment procedure is witnessed in holding the highest shares of the market. Increasing demand for minimally invasive surgeries across the world, which is more effective in curing the disease with less pain comparatively, is boosting up the growth of the thyroid cancer market. The rise in awareness over different physicians' techniques and increasing training institutes is spurring this market's demand.
Thyroid Cancer Market – By End User:
Based on end-user, the hospital's segment is leading with the highest shares of the market. Increasing funds from non-government institutes to ensure quality therapeutic procedures is leveling up the growth of the market. Furthermore, increasing disposable income in urban areas is leveraging the growth rate of the market.
Thyroid Cancer Market – By Region:
Geographically, North America was the leader in the global thyroid cancer market in 2019 and predicted the same to be continuing during the forecast period. The adoption of advanced technologies and the launch of innovative techniques in healthcare centers are surging the growth of the market. Increasing capital income in both developed and developing countries is also a common factor gearing up the demand in this region. Europe is positioned second in leading the highest shares of the market. Stringent rules and regulations by the government in approving drugs to promote patients' well-being after surgeries are magnifying the growth of the market. The Asia Pacific is accounted for the fastest growth rate from recent years and is also expected to have significant growth opportunities in foreseen years. The increasing aging population and again rise in hospitals' scale is broadening the demand of the market. The Middle East and Africa are deemed to have inclined growth rates in the coming years.
PROMINENT PLAYERS IN THIS MARKET:
Some of the notable companies operating in the global thyroid cancer market analyzed in this report are Mylan Pharmaceuticals Inc., Alara Pharmaceutical Corporation, Bristol Myers co., Teva parenteral medicines Inc., Jerome Stevens Pharmaceuticals Inc., Baxter International Inc., Abbott laboratories, and App pharmaceuticals LLC.
1.1 Market Definition
1.2 Study Deliverables
1.3 Base Currency, Base Year and Forecast Periods
1.4 General Study Assumptions
2. Research Methodology
2.2 Research Phases
2.2.1 Secondary Research
2.2.2 Primary Research
2.2.3 Econometric Modelling
2.2.4 Expert Validation
2.3 Analysis Design
2.4 Study Timeline
3.1 Executive Summary
3.2 Key Inferences
4. Drivers, Restraints, Opportunities, and Challenges Analysis (DROC)
4.1 Market Drivers
4.2 Market Restraints
4.3 Key Challenges
4.4 Current Opportunities in the Market
5. Market Segmentation
5.1.3 Iodine Theraphy
5.1.4 External radiotherapy
5.1.5 Thyroxine treatment
5.1.8 Y-o-Y Growth Analysis, By Treatment
5.1.9 Market Attractiveness Analysis, By Treatment
5.1.10 Market Share Analysis, By Treatment
5.2 End User
5.2.3 Oncology centers
5.2.4 Hospital Pharmacies
5.2.5 Retail Pharmacies
5.2.6 Y-o-Y Growth Analysis, By End User
5.2.7 Market Attractiveness Analysis, By End User
5.2.8 Market Share Analysis, By End User
6. Geographical Analysis
6.1.1 Regional Trends
6.1.2 Impact Analysis
6.1.3 Y-o-Y Growth Analysis
220.127.116.11 By Geographical Area
18.104.22.168 By Treatment
22.214.171.124 By End User
6.1.4 Market Attractiveness Analysis
126.96.36.199 By Geographical Area
188.8.131.52 By Treatment
184.108.40.206 By End User
6.1.5 Market Share Analysis
220.127.116.11 By Geographical Area
18.104.22.168 By Treatment
22.214.171.124 By End User
6.2 North America
6.1.2 United States
6.3.6 South Korea
6.5 Latin America
6.4.5 Rest of Latin America
6.6 Middle East & Africa
7.1 PESTLE analysis
7.2 Porter’s Five analysis
7.2.1 Bargaining Power of Suppliers
7.2.2 Bargaining Power of Consumers
7.2.3 Threat of New Entrants
7.2.4 Threat of Substitute Products and Services
7.2.5 Competitive Rivalry within the Industry
8.Market Leaders' Analysis
8.1 Baxter International Inc
8.1.2 Product Analysis
8.1.3 Financial analysis
8.1.4 Recent Developments
8.1.5 SWOT analysis
8.1.6 Analyst View
8.2 Mylan pharmaceuticals Inc
8.3 Alara Pharmaceutical Corporation
8.4 Bristol Myers co
8.5 Abbott laboratories
8.6 Teva parenteral medicines Inc
8.7 App pharmaceuticals llc
8.8 Jerome Stevens Pharmaceuticals Inc
9.1 Market share analysis
9.2 Merger and Acquisition Analysis
9.3 Agreements, collaborations and Joint Ventures
9.4 New Product Launches
10.Market Outlook and Investment Opportunities
a) List of Tables
b) List of Figures
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