Global Thyroid Cancer Drug Market By Type (Papillary thyroid cancer, Follicular thyroid cancer, Hurthle cell cancer, Medullary thyroid cancer (MTC) and Anaplastic thyroid cancer), 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), Treatment (Medication, Chemotherapy, Radioactive iodine (radioiodine) therapy, Hormone therapy, and Surgery), End- users (Hospitals, Homecare, Specialty Clinics, Others), Geography (North America, South America, Europe, Asia-Pacific, Middle East and Africa) - Industry Trends & Forecast to 2026
Market Analysis: Global Thyroid Cancer Drug Market
Global thyroid cancer drug market is rise gradually to an estimated value of USD 2404.8 million by 2026 registering a CAGR of 24.3% in the forecast period of 2019-2026. Increasing prevalence of thyroid cancer and accelerating demand of clinical treatment and novel therapies indicates the significant growth of market.
Market Definition: Global Thyroid Cancer Drug Market
Thyroid cancer is also known as thyroid nodules is a cancer occur in thyroid gland and can spread to other parts of the body and about 90% of all thyroid cancers are benign.
According to the statistics published in American Cancer Society 2019, it is estimated that 52,070 patients to be diagnosed with thyroid cancer in the United States in this current year. It is more prevalent in women and near 2% of cases occurs in children. Growing population of thyroid cancer and adopting unhealthy life style are the key factors for market growth.
- Increase in prevalence rate of neuroendocrine tumor worldwide
- Accelerating demand of treatment and novel therapies
- Rising awareness about treatment and technological advancement is driving the growth of market
- Increases cases of obesity and adopting unhealthy life style
- Effective treatment is either unavailable or unaffordable
- Patent expiry of the patented drugs and introduction of generic version of branded drugs is expected to restrain the growth if the market
- Inadequate awareness about thyroid cancer treatment in some developing countries
Segmentation: Global Thyroid Cancer Drug Market
- Papillary thyroid cancer
- Follicular thyroid cancer
- Hurthle cell cancer
- Medullary thyroid cancer (MTC)
- Anaplastic thyroid cancer
By Drug Type
- Thyroid desiccated
- Thyrotropin alfa
- Sodium iodide I-131
- Radioactive iodine (radioiodine) therapy
- Hormone therapy
- Near-total thyroidectomy
- Total thyroidectomy
By Route of administration
By End users
- Specialty Clinics
- North America
- South America
- Rest of South America
- United Kingdom
- Rest of Europe
- South Korea
- Rest of Asia Pacific
- Middle East & Africa
- South Africa
- Saudi Arabia
- United Arab Emirates
- Rest of Middle East & Africa
Key Developments in the Market:
- In May 2018, Novartis AG received FDA approval for Tafinlar in combination with Mekinist (trametinib) for the treatment of anaplastic thyroid cancer comprising of abnormal gene known as BRAF V600E
- In March 2018, Eisai Co., Ltd and Merck & Co., Inc entered into research collaboration for exclusive worldwide co-development and co- commercialization of Lenvima in combination with pembrolizumab for 11 potential indications in six types of cancer (endometrial cancer, non-small cell lung cancer, hepatocellular carcinoma, head and neck cancer, bladder cancer and melanoma). Lenvima has been approved from the FDA for the treatment of differentiated thyroid cancer
Competitive Analysis: Global Thyroid Cancer Drug Market
Global thyroid cancer drug market is highly fragmented and the major players have used various strategies such as new product launches, expansions, agreements, joint ventures, partnerships, acquisitions, and others to increase their footprints in this market. The report includes market shares of thyroid cancer drug market for Global, Europe, North America, Asia-Pacific, South America and Middle East & Africa.
Key Market Players: Global Thyroid Cancer Drug Market
Few of the major competitors currently working in the thyroid cancer drug market are Mylan N.V., Bristol-Myers Squibb Company, Teva Pharmaceutical Industries Ltd, Jerome Stevens Pharmaceuticals, Inc, Baxter, Abbott, Celgene Corporation, AstraZeneca, GlaxoSmithKline plc, Eisai Co., Ltd, Takeda Pharmaceutical Company Ltd, Biovista, Cytori Therapeutics Inc, Bayer AG, Novartis AG, Bio-Path Holdings, Inc, Vascular Biogenics, and few among others.
Research Methodology: Global Thyroid Cancer Drug Market
Data collection and base year analysis is done using data collection modules with large sample sizes. The market data is analysed and forecasted using market statistical and coherent models. Also market share analysis and key trend analysis are the major success factors in the market report. To know more please Request an Analyst Call or can drop down your inquiry.
The key research methodology used by . team is data triangulation which involves data mining, analysis of the impact of data variables on the market, and primary (industry expert) validation. Apart from this, other data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Company Market Share Analysis, Standards of Measurement, Top to Bottom Analysis and Vendor Share Analysis. To know more about the research methodology, drop in an inquiry to speak to our industry experts.
Demand Side: Doctors, Surgeons, Medical Consultants, Nurses, Hospital Buyers, Group Purchasing Organizations, Associations, Insurers, Medical Payers, Healthcare Authorities, Universities, Technological Writers, Scientists, Promoters, and Investors among others.
Supply Side: Product Managers, Marketing Managers, C-Level Executives, Distributors, Market Intelligence, and Regulatory Affairs Managers among others.
Reasons to Purchase this Report
- Current and future of global thyroid cancer drug market outlook in the developed and emerging markets
- The segment that is expected to dominate the market as well as the segment which holds highest CAGR in the forecast period
- Regions/Countries that are expected to witness the fastest growth rates during the forecast period
- The latest developments, market shares, and strategies that are employed by the major market players