The size of the North American thyroid cancer market was valued at USD 121.35 million in 2022. This value is expected to grow at a CAGR of 24% and be worth USD 355.74 million by 2027.
The increasing number involving thyroid cancer-affected individuals and the rise in awareness within the supply of different therapy procedures are lavishing the growth regarding the thyroid cancer market in the North American region. Also, private and public organizations' rising investments in healthcare centers are fuelling the demand regarding the market inside North America.
Increasing government support by changing schemes and launching reimbursements for ordinary people will create market growth opportunities. However, thyroid cancer market growth is likely to be overshadowed by rising demand for high-quality treatment procedures and rising healthcare spending. One of the elements driving the development of the North American market is the expanding elderly population.
The therapy for thyroid disease includes significant expenses, which controls the market request gradually. Additionally, the expense of introducing and keeping up with the hardware is costly, which is an element restricting the interest of the market. Furthermore, the shortfall of talented people in medical procedures has remained a difficult element for market engineers. The absence of normalization may likewise thwart the development of the thyroid cancer market.
The COVID-19 impacted the North American thyroid disease diagnostics market adversely as the quantity of analyzed cases went down in 2020. In addition, the attention on COVID-19 brought about delays in disease screening, conclusion, and treatment due to diminished admittance to medical services.
This research report on the North American thyroid cancer market is segmented and sub-segmented into the following categories.
By End User:
Geographically, North America led the global thyroid cancer market in 2020 and is expected to continue to do so during the forecast period. The adoption of modern technologies and the introduction of novel approaches in healthcare centers propel the market forward. Rising capital income in developed and emerging countries is a shared element driving increased demand in this region. The market's demand is being widened by an older population and a resurgence in hospital scale. In addition, the market in this region is being driven by an increase in thyroid cancer cases and potential pipeline drugs to treat the disease.
Each year, over 35,000 women and 12,000 men are affected by thyroid cancer, with more than 1,100 women and 900 men dying from the disease. In 2016, the United States was expected to detect 64,000 new cases of thyroid cancer. Furthermore, the presence of top pharma and biotech companies working on innovative therapies and well-established healthcare infrastructure is supporting regional market expansion to a significant level.
KEY MARKET PLAYERS:
Companies playing a vital role in the North American thyroid cancer market profiled in this report are Baxter International Inc., Mylan Pharmaceuticals Inc., Alara Pharmaceutical Corporation, Bristol Myers co, Abbott laboratories, Teva parenteral medicines Inc., App pharmaceuticals LLC, and Jerome Stevens Pharmaceuticals Inc.
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