The global thyroid cancer drugs market was valued at US$ 400.5 million in 2020 and is predicted to reach US$ 1,689.7 million by 2028; which is expected to experience a compound annual growth rate (CAGR) of 19.9% during the forecast period from 2021- 2028. Thyroid cancer is termed as a cancer which is developed in the cells of thyroid gland. It doesn’t show initially but grows severe and starts paining with swelling in the neck region. It shows lump in the most of the thyroid cancers can be treated with treatment. Treatments available for thyroid cancer includes radioactive ablation, thyroid stimulating hormone (TSH) suppression therapy, and removal of thyroid gland.
Rising cases of thyroid cancer is expected to drive the market. According to National Cancer Institute about 1.2% of men and women are detected with thyroid cancer during their lifespan. According to American Cancer Society, around 52,070 cases of the thyroid have been found in 2019 in US and estimated death recorded is 2170. Additionally, increasing awareness of thyroid cancer is assisting the growth of the market. Government has been raising funds and reimbursement policies are the factors propelling the growth of global thyroid cancer drugs market. According to Cancer Research UK in 2015, there were 3528 new cases of thyroid cancer registered in 2015. However, there are some restraints leading to the growth of the global thyroid cancer drugs market. Incompetence of drugs in providing effective output to thyroid cancer patients is expected as a major challenge for the growth of the global thyroid cancer drugs market. Additionally, patent expiry of patented drugs along with introduction of new generic version of drugs is obstructing growth of global thyroid cancer drugs market.
Global thyroid cancer drugs market is segmented on the basis of treatment, type, end- user, drug type, route of administration and region. Based on type, it is bifurcated into thyroid cancer, hurthle cell cancer, follicular thyroid cancer, anaplastic thyroid cancer and medullary thyroid cancer (MTC). By treatment, it is categorized into medication, radioactive iodine (radioiodine) therapy, hormone therapy, chemotherapy, and surgery. Surgery is further segmented into near-total thyroidectomy, total thyroidectomy and lobectomy. Further based on drug type, thyroid cancer drugs are Ipilimumab, Cabozantinib-S-Malate, Caprelsa (Vandetanib), Doxorubicin Hydrochloride, Cometriq (Cabozantinib-S-Malate), Lenvatinib Mesylate, Nivolumab, Vandetanib and others. By route of administration, it is categorized into injectable, oral and others. On the basis of end- user, it is categorised into oncology clinics, hospitals, research organisations and others. Based on regional prospects, it is classified into North America (Canada, US and Rest of North America), Asia Pacific (China, South Korea, Japan, Rest of Asia Pacific), Europe (Germany, UK, France, Rest of Europe), Rest of the World (Middle East & Africa, Latina America).
Major players covered in the global thyroid cancer drug market report are Mylan N.V., Abbott, Bristol-Myers Squibb Company, Teva Pharmaceutical Industries Ltd, AstraZeneca, GlaxoSmithKline plc, Eisai Co., Ltd, Takeda Pharmaceutical Company Ltd, Biovista, Cytori Therapeutics Inc, Bayer AG, Novartis AG, Jerome Stevens Pharmaceuticals Inc, Baxter, Celgene Corporation, Bio-Path Holdings, Inc. and Vascular Biogenics, among others.
Segmentation and Scope of the Global Thyroid Cancer Drugs Market
Global Thyroid Cancer Drugs Market is segmented into treatment, type, end- user, drug type, route of administration and region.
By Drug Type
By End Users:
By route of administration
Prominent players in the Global Thyroid Cancer Drugs Market among others include