The Thyroid Cancer Diagnostics Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2024-2033).
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In accordance with The Business Research Company’s Thyroid Cancer Diagnostics Global Market Report for 2024, the thyroid cancer diagnostics market has experienced robust growth, surging from $2.79 billion in 2024 to $2.97 billion, reflecting a notable compound annual growth rate (CAGR) of 6.2%. This expansion during the historical period is attributable to factors such as the escalating prevalence of thyroid cancer, an aging population, heightened awareness, early detection initiatives, governmental support, and advancements in healthcare infrastructure.
Projections indicate a sustained upward trajectory for the thyroid cancer diagnostics market, foreseeing an impressive increase to $3.7 billion by 2028, boasting a CAGR of 5.7%. Anticipated drivers in the forecast period encompass an augmented demand for companion diagnostics, a rising preference for personalized medicine among patients, economic prosperity, increased healthcare spending, heightened physician education and training, and the facilitation of regulatory approvals and clearances. Noteworthy trends on the horizon include the integration of liquid biopsies, the globalization of diagnostic technologies, continuous technological advancements, robust research and development efforts, the integration of artificial intelligence, and the fostering of collaborations and partnerships.
The increasing prevalence of thyroid cancer is driving the growth of the thyroid cancer diagnostic market going forward. Thyroid cancer is a disease in the thyroid gland (a gland near the base of the throat that produces hormones to help regulate body temperature, heart rate, blood pressure, and weight). Thyroid cancer diagnostics help to discover thyroid cancer by providing early detection that can help improve treatment outcomes. Thus, the increasing prevalence of thyroid cancer increases the demand for the diagnostic market. For instance, in September 2024, according to a report published by the American Cancer Society, a US-based non-profit organization, there are anticipated to be approximately 43,720 new cases of thyroid cancer, with 12,540 occurring in men and 31,180 in women in 2024. The projected number of deaths from thyroid cancer in the same year is around 2,120, with 970 in men and 1,150 in women. Therefore, thyroid cancer’s increasing prevalence is propelling the diagnostic market of thyroid cancer.
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The thyroid cancer diagnostics market covered in this report is segmented –
1) By Technique Type: Imaging Test, Blood Test, Biopsy, Other Test Type
2) By Disease Type: Papillary Carcinoma, Follicular Carcinoma, Other Diseases
3) By End-User: Hospital Laboratories, Cancer Diagnostic Centers, Research Institutes, Other End-Users
Top 5 major Players:
In the thyroid cancer diagnostics market, major industry players are strategically developing innovative products such as oral tablets to expand their customer base, boost sales, and augment overall revenue. Oral tablets, as solid pharmaceutical dosage forms designed for oral administration, represent a pivotal development. A case in point is Exelixis Inc., a prominent US-based biotechnology company. In September 2021, the company secured U.S. Food and Drug Administration (FDA) approval for CABOMETYX (cabozantinib), specifically indicated for treating differentiated thyroid cancer (DTC) in adults and pediatric patients aged 12 and above with locally advanced or metastatic disease. This groundbreaking treatment addresses cases that have progressed following prior vascular endothelial growth factor receptor (VEGFR)-targeted therapy, particularly in patients refractory to radioactive iodine or ineligible for such treatment. Notably, CABOMETYX tablets have garnered FDA approval for multiple indications, including advanced renal cell carcinoma (RCC), hepatocellular carcinoma in patients previously treated with sorafenib, first-line treatment for advanced RCC in combination with nivolumab, and the management of locally advanced or metastatic differentiated thyroid cancer (DTC) in adult and pediatric patients aged 12 and older. This exemplifies the industry’s commitment to advancing therapeutic options and meeting diverse clinical needs.
The thyroid cancer diagnostics market report table of contents includes:
1. Executive Summary
2. Thyroid Cancer Diagnostics Market Characteristics
3. Thyroid Cancer Diagnostics Market Trends And Strategies
4. Thyroid Cancer Diagnostics Market – Macro Economic Scenario
5. Global Thyroid Cancer Diagnostics Market Size and Growth.
……
32. Global Thyroid Cancer Diagnostics Market Competitive Benchmarking
33. Global Thyroid Cancer Diagnostics Market Competitive Dashboard
34. Key Mergers And Acquisitions In The Thyroid Cancer Diagnostics Market
35. Thyroid Cancer Diagnostics Market Future Outlook and Potential Analysis
36. Appendix
List Of Tables:
Table 1: Global Historic Market Growth, 2018-2023, $ Billion
Table 2: Global Forecast Market Growth, 2023-2028F, 2033F, $ Billion
Table 3: Global Thyroid Cancer Diagnostics Market, Segmentation By Technique Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
Table 4: Global Thyroid Cancer Diagnostics Market, Segmentation By Disease Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
Table 5: Global Thyroid Cancer Diagnostics Market, Segmentation By End-User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
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Table 74: Pfizer Inc. Financial Performance
Table 75: General Electric Financial Performance
Table 76: F. Hoffmann-La Roche AG Financial Performance
Table 77: Bayer AG Financial Performance
Table 78: Novartis International AG Financial Performance
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