Differentiated Thyroid Cancer Therapeutics Market Size
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| CAGR | 21.50 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | North America |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Differentiated Thyroid Cancer Therapeutics Market Analysis
The differentiated thyroid cancer (DTC) therapeutics market is expected to register a CAGR of 21.5% during the forecast period. The major factors attributing to the growth of the market are a rise in the incidence of papillary thyroid cancer, which is the most common type of thyroid cancer, accounting for about 80% of all cases. DTC typically doesn't cause any signs or symptoms early in the disease, which results in the development of lumps (nodule) on the neck area, causing difficulties in swallowing, and throat pain, and swollen lymph nodes in the neck.
According to the American Society of Clinical Oncology (ASCO), in 2019, approximately 14,260 men and 37,810 women in the United States were diagnosed with thyroid cancer. It is the most common cancer in women between 20 to 34 years of age, and women are more likely to develop thyroid cancer than men. Furthermore, a rise in government initiatives to control the healthcare burden and growing awareness regarding thyroid cancer treatment options are driving the DTC therapeutics market.
Differentiated Thyroid Cancer Therapeutics Market Trends
This section covers the major market trends shaping the Differentiated Thyroid Cancer Therapeutics Market according to our research experts:
The Chemotherapy Segment is Expected to Hold a Major Market Share in the Differentiated Thyroid Cancer Therapeutics Market
- The chemotherapy segment holds a significant market share in the DTC therapeutics market over the forecast period. The dominance is owing to increased use of drugs like doxorubicin, cisplatin, and others as standard treatment. Huge demand can be attributed to the use of combinational drugs and their proven efficiency in preventing cancer progression. These combination drugs reduce the development of drug resistance, which is expected to fuel the market.
- On the other hand, targeted therapy is anticipated to grow at the highest CAGR. The lucrative growth is due to their usage when cancer is progressing. Also, these targeted drugs act differently on thyroid cancer than standard chemotherapy drugs. These agents block tumors from forming new blood vessels and target some of the proteins which increase the growth of cancer cells. The lesser side effects compared to chemotherapy is expected to boost the growth of the segment.
North America is Expected to Hold a Significant Share in the Market and it is Expected to do the Same in the Forecast Period
North America is expected to hold a major market share in the global differentiated thyroid cancer therapeutics market due to rising incidences of PTC, increased mortality rate in this region. For instance, the American Society of Clinical Oncology (ASCO), PTC covers more than 85% of overall thyroid cancers in the United States. Also, according to estimates published by the Thyroid Cancer Survivors' Association, thyroid cancer affects nearly 52,890 new cases in the United States in 2020, which increased from 52,070 cases in the year 2019. Furthermore, the presence of top pharma and biotech companies that are involved in the development of new therapies and the presence of well-established healthcare infrastructure is also fueling the growth of the overall regional market to a large extent.
Differentiated Thyroid Cancer Therapeutics Industry Overview
The differentiated thyroid cancer therapeutics market is moderately competitive and consists of several major players. In terms of market share, few of the major players are currently dominating the market. Some of the companies which are currently dominating the market are Bayer AG, Merck Co Inc., Jerome Stevens Pharmaceuticals Inc., Pfizer Inc., Curium SAS.
Differentiated Thyroid Cancer Therapeutics Market Leaders
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Merck Co Inc
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Bayer AG
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Jerome Stevens Pharmaceuticals Inc
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Pfizer Inc
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Curium SAS
*Disclaimer: Major Players sorted in no particular order
Differentiated Thyroid Cancer Therapeutics Market Report - Table of Contents
1. INTRODUCTION
- 1.1 Study Assumptions
- 1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
- 4.1 Market Overview
-
4.2 Market Drivers
- 4.2.1 Increasing Prevalence of Thyroid Cancer
- 4.2.2 Rising Government Funds and Reimbursement Policies
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4.3 Market Restraints
- 4.3.1 Introduction of Generic Products Due to Patent Expiry of the Branded Drugs
- 4.3.2 Lack of Awareness about Treatment Options for Thyroid Cancer
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4.4 Porter's Five Forces Analysis
- 4.4.1 Threat of New Entrants
- 4.4.2 Bargaining Power of Buyers/Consumers
- 4.4.3 Bargaining Power of Suppliers
- 4.4.4 Threat of Substitute Products
- 4.4.5 Intensity of Competitive Rivalry
5. MARKET SEGMENTATION
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5.1 By Therapy
- 5.1.1 Chemotherapy
- 5.1.2 Targeted Therapy
- 5.1.3 Thyroid Stimulating Hormone Suppression (THS)
- 5.1.4 Other Therapies
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5.2 Geography
- 5.2.1 North America
- 5.2.1.1 United States
- 5.2.1.2 Canada
- 5.2.1.3 Mexico
- 5.2.2 Europe
- 5.2.2.1 Germany
- 5.2.2.2 United Kingdom
- 5.2.2.3 France
- 5.2.2.4 Italy
- 5.2.2.5 Spain
- 5.2.2.6 Rest of Europe
- 5.2.3 Asia-Pacific
- 5.2.3.1 China
- 5.2.3.2 Japan
- 5.2.3.3 India
- 5.2.3.4 Australia
- 5.2.3.5 South Korea
- 5.2.3.6 Rest of Asia-Pacific
- 5.2.4 Middle-East and Africa
- 5.2.4.1 GCC
- 5.2.4.2 South Africa
- 5.2.4.3 Rest of Middle-East and Africa
- 5.2.5 South America
- 5.2.5.1 Brazil
- 5.2.5.2 Argentina
- 5.2.5.3 Rest of South America
6. COMPETITIVE LANDSCAPE
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6.1 Company Profiles
- 6.1.1 Jubilant Life Sciences (Jubilant DraxImage)
- 6.1.2 Rosatom State Corporation (JSC Isotope)
- 6.1.3 Curium SAS
- 6.1.4 JEROME STEVENS PHARMACEUTICALS INC.
- 6.1.5 Pfizer Inc.
- 6.1.6 IBSA Group (IBSA Pharma Inc.)
- 6.1.7 Mylan NV
- 6.1.8 Sanofi (Genzyme Corporation)
- 6.1.9 Exelixis Inc.
- 6.1.10 Bayer AG
- *List Not Exhaustive
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
Differentiated Thyroid Cancer Therapeutics Industry Segmentation
Thyroid cancer is a type of cancer that develops in the thyroid gland and can spread to other parts of the body. The thyroid gland produces hormones that regulate blood pressure, heart rate, energy metabolism, and body temperature. DTC is classified as Follicular thyroid cancer and papillary thyroid cancer along with Hurthle cell carcinoma (HCC). HCC is a cancer that arises from a specific type of follicular cell. As per the scope of the report, the DTC therapeutics market is segmented by types of therapies used in the treatment.
| By Therapy | Chemotherapy | |
| Targeted Therapy | ||
| Thyroid Stimulating Hormone Suppression (THS) | ||
| Other Therapies | ||
| Geography | North America | United States |
| Canada | ||
| Mexico | ||
| Geography | Europe | Germany |
| United Kingdom | ||
| France | ||
| Italy | ||
| Spain | ||
| Rest of Europe | ||
| Geography | Asia-Pacific | China |
| Japan | ||
| India | ||
| Australia | ||
| South Korea | ||
| Rest of Asia-Pacific | ||
| Geography | Middle-East and Africa | GCC |
| South Africa | ||
| Rest of Middle-East and Africa | ||
| Geography | South America | Brazil |
| Argentina | ||
| Rest of South America |
Differentiated Thyroid Cancer Therapeutics Market Research FAQs
What is the current Differentiated Thyroid Cancer Therapeutics Market size?
The Differentiated Thyroid Cancer Therapeutics Market is projected to register a CAGR of 21.5% during the forecast period (2024-2029)
Who are the key players in Differentiated Thyroid Cancer Therapeutics Market?
Merck Co Inc, Bayer AG, Jerome Stevens Pharmaceuticals Inc, Pfizer Inc and Curium SAS are the major companies operating in the Differentiated Thyroid Cancer Therapeutics Market.
Which is the fastest growing region in Differentiated Thyroid Cancer Therapeutics Market?
Asia Pacific is estimated to grow at the highest CAGR over the forecast period (2024-2029).
Which region has the biggest share in Differentiated Thyroid Cancer Therapeutics Market?
In 2024, the North America accounts for the largest market share in Differentiated Thyroid Cancer Therapeutics Market.
What years does this Differentiated Thyroid Cancer Therapeutics Market cover?
The report covers the Differentiated Thyroid Cancer Therapeutics Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Differentiated Thyroid Cancer Therapeutics Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Thyroid Cancer Industry Report
Statistics for the 2024 Thyroid Cancer market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Thyroid Cancer analysis includes a market forecast outlook 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
