Global Thyroid Cancer Drug Market, By Type (Papillary Thyroid Cancer, Follicular Thyroid Cancer, Hurthle Cell Cancer, Medullary Thyroid Cancer (MTC) and Anaplastic Thyroid Cancer), Treatment (Medication, Chemotherapy, Radioactive Iodine (Radioiodine) Therapy, Hormone Therapy), Drug Type (Thyroid Desiccated, Sorafenib, Thyrotropin Alfa, Vandetanib, Doxorubicin, Cabozantinib, Lenvatini, Sodium Iodide I-131, Dabrafenib, Trametinib and Others), Route of Administration (Oral, Injectable and Others), End-Users (Hospitals, Homecare, Specialty Clinics, Others) - Industry Trends and Forecast to 2030.
Thyroid Cancer Drug Market Analysis and Size
Thyroid cancer refers to a type of malignant cancer which is initiated from the par follicular and follicular thyroid cells. It is also known as thyroid nodules which occurs in thyroid gland and can spread to other parts of the body and about 90% of all thyroid cancers are benign. Surgical removal of the thyroid gland, radioactive ablation and thyroid stimulating hormone (TSH) suppression therapy are some of the available treatments. The increase in the rate of neuroendocrine tumor cases among population across the globe acts as one of the major factors driving the growth of global thyroid cancer drug market.
Data Bridge Market Research analyses that the global thyroid cancer drug market which was USD 712.56 million in 2022, is expected to reach USD 2,505.56 million by 2030, and is expected to undergo a CAGR of 17.2% during the forecast period 2023-2030. “Medication” dominates the treatment segment of the global thyroid cancer drug market owing to their greater beneficial effects. In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Data Bridge Market Research also include depth expert analysis, patient epidemiology, pipeline analysis, pricing analysis, and regulatory framework.
Thyroid Cancer Drug Market Scope and Segmentation
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Report Metric
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Details
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Forecast Period
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2023 to 2030
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Base Year
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2022
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Historic Years
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2021 (Customizable to 2015-2020)
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Quantitative Units
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Revenue in USD Million, Volumes in Units, Pricing in USD
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Segments Covered
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Type (Papillary Thyroid Cancer, Follicular Thyroid Cancer, Hurthle Cell Cancer, Medullary Thyroid Cancer (MTC) and Anaplastic Thyroid Cancer), Treatment (Medication, Chemotherapy, Radioactive Iodine (Radioiodine) Therapy, Hormone Therapy), Drug Type (Thyroid Desiccated, Sorafenib, Thyrotropin Alfa, Vandetanib, Doxorubicin, Cabozantinib, Lenvatini, Sodium Iodide I-131, Dabrafenib, Trametinib and Others), Route of Administration (Oral, Injectable and Others), End-Users (Hospitals, Homecare, Specialty Clinics, Others)
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Countries Covered
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U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America
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Market Players Covered
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Mylan N.V. (Netherlands), Bristol-Myers Squibb Company (U.S.), Teva Pharmaceutical Industries Ltd (Israel), Jerome Stevens Pharmaceuticals, Inc (U.S.), Baxter (U.S.), Abbott (U.S.), Celgene Corporation (U.S.), AstraZeneca (U.K.), GlaxoSmithKline plc (U.K.), Eisai Co., Ltd (Japan), Takeda Pharmaceutical Company Ltd (Japan), Biovista (U.S.), Cytori Therapeutics Inc (U.S.), Bayer AG (Germany), Novartis AG (Switzerland), Bio-Path Holdings, Inc. (U.S.) and Vascular Biogenics (Israel)
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Market Opportunities
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Market Definition
Thyroid cancer is a malignancy that originates in the thyroid gland, a butterfly-shaped organ located in the neck, just below the Adam's apple. It typically develops from abnormal growth of thyroid cells, leading to the formation of tumors. Thyroid cancer can be categorized into several subtypes, with the most common being papillary and follicular thyroid cancer. While most cases of thyroid cancer are slow-growing and highly treatable, early detection and prompt medical intervention are crucial for successful outcomes. Treatment options often include surgery, radioactive iodine therapy, chemotherapy, and targeted therapies, depending on the type and stage of the cancer.
Global Thyroid Cancer Drug Market Dynamics
Drivers
- Increasing Thyroid Cancer Incidence
The rising prevalence of thyroid cancer worldwide is a significant driver. Factors such as improved diagnostic methods, increased awareness, and changes in lifestyle contribute to the growing number of diagnosed cases.
- Increasing Awareness
Greater public awareness about thyroid cancer and its risk factors has led to earlier diagnosis and treatment-seeking behavior, boosting the demand for thyroid cancer drugs.
Opportunities
- Rise in Research and Development
As the demand for more effective and targeted thyroid cancer treatments rises, there is a growing need for research and development activities. This can lead to opportunities for researchers, scientists, and academic institutions to receive funding and collaborate on innovative therapies and diagnostic tools.
- Personalized Medicine
The trend towards personalized medicine in cancer treatment can create opportunities for the development of tailored therapies based on an individual's genetic profile. This approach can improve treatment outcomes and reduce side effects.
Restraints/Challenges
- Side Effects and Tolerability
Some thyroid cancer drugs may cause significant side effects, and patients may struggle with treatment tolerability. This can lead to treatment discontinuation or dose reductions.
- High Treatment Costs
Many advanced cancer treatments, including thyroid cancer drugs, can be expensive. High treatment costs can create financial burdens for patients and healthcare systems.
This global thyroid cancer drug market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of global market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the global thyroid cancer drug market Contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
Recent Development
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Global Thyroid Cancer Drug Market Scope
The global thyroid cancer drug market is segmented on the basis of type, treatment, drug type, route of administration and end users. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.
Type
- Papillary Thyroid Cancer
- Follicular Thyroid Cancer
- Hurthle Cell Cancer
- Medullary Thyroid Cancer (MTC)
- Anaplastic Thyroid Cancer
Treatment
- Medication
- Chemotherapy
- Radioactive Iodine (Radioiodine) Therapy
- Hormone Therapy
Drug Type
- Thyroid Desiccated
- Sorafenib
- Thyrotropin Alfa
- Vandetanib
- Doxorubicin
- Cabozantinib
- Lenvatini
- Sodium Iodide I-131
- Dabrafenib
- Trametinib
- Others
Route of Administration
- Oral
- Injectable
- Others
End Users
- Hospitals
- Homecare
- Specialty Clinics
- Others
Global Thyroid Cancer Drug Market Analysis/Insights
The global thyroid cancer drug market is analysed and market size insights and trends are provided by country, type, treatment, drug type, route of administration and end users as referenced above.
The countries covered in the global thyroid cancer drug market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
North America dominates the global thyroid cancer drug market due to the well-established health coverage and high level of awareness regarding the illness.
Asia-Pacific region is expected to record the fastest growth during the forecast period 2023-2030 due to due to increasing patient pool, improving public and private reimbursement infrastructure, and constant development of healthcare facilities.
The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Competitive Landscape and Global Thyroid Cancer Drug Market Share Analysis
The global thyroid cancer drug market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to global thyroid cancer drug market.
Some of the major players operating in the global thyroid cancer drug market are:
- Mylan N.V. (Netherlands)
- Bristol-Myers Squibb Company (U.S.)
- Teva Pharmaceutical Industries Ltd (Israel)
- Jerome Stevens Pharmaceuticals, Inc (U.S.)
- Baxter (U.S.)
- Abbott (U.S.)
- Celgene Corporation (U.S.)
- AstraZeneca (U.K.)
- GlaxoSmithKline plc (U.K.)
- Eisai Co., Ltd (Japan)
- Takeda Pharmaceutical Company Ltd (Japan)
- Biovista (U.S.)
- Cytori Therapeutics Inc (U.S.)
- Bayer AG (Germany)
- Novartis AG (Switzerland)
- Bio-Path Holdings, Inc. (U.S.)
- Vascular Biogenics (Israel)
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