Market Size of Differentiated Thyroid Cancer Therapeutics Industry
| 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 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 |
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Differentiated Thyroid Cancer Therapeutics Market Size Summary
The differentiated thyroid cancer (DTC) therapeutics market is poised for significant growth, driven by the increasing incidence of papillary thyroid cancer, the most prevalent form of thyroid cancer. This type of cancer often presents with no early symptoms, leading to late-stage diagnoses characterized by neck nodules, swallowing difficulties, throat pain, and swollen lymph nodes. The market's expansion is further supported by government initiatives aimed at reducing healthcare burdens and heightened awareness of thyroid cancer treatment options. Chemotherapy remains a dominant treatment modality, with drugs like doxorubicin and cisplatin playing a crucial role due to their effectiveness in preventing cancer progression and reducing drug resistance. Meanwhile, targeted therapy is expected to experience the highest growth rate, offering a promising alternative with fewer side effects compared to traditional chemotherapy.
North America is anticipated to maintain a substantial share of the global DTC therapeutics market, attributed to the rising incidence of papillary thyroid cancer and an increasing mortality rate in the region. The presence of leading pharmaceutical and biotech companies, along with a robust healthcare infrastructure, further bolsters the market's growth. The competitive landscape of the DTC therapeutics market is moderately intense, with major players such as Bayer AG, Merck Co Inc., Jerome Stevens Pharmaceuticals Inc., Pfizer Inc., and Curium SAS holding significant market shares. These companies are actively involved in developing new therapies, contributing to the market's dynamic nature and ongoing expansion.
Differentiated Thyroid Cancer Therapeutics Market Size - Table of Contents
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1. MARKET DYNAMICS
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1.1 Market Overview
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1.2 Market Drivers
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1.2.1 Increasing Prevalence of Thyroid Cancer
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1.2.2 Rising Government Funds and Reimbursement Policies
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1.3 Market Restraints
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1.3.1 Introduction of Generic Products Due to Patent Expiry of the Branded Drugs
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1.3.2 Lack of Awareness about Treatment Options for Thyroid Cancer
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1.4 Porter's Five Forces Analysis
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1.4.1 Threat of New Entrants
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1.4.2 Bargaining Power of Buyers/Consumers
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1.4.3 Bargaining Power of Suppliers
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1.4.4 Threat of Substitute Products
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1.4.5 Intensity of Competitive Rivalry
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2. MARKET SEGMENTATION
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2.1 By Therapy
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2.1.1 Chemotherapy
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2.1.2 Targeted Therapy
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2.1.3 Thyroid Stimulating Hormone Suppression (THS)
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2.1.4 Other Therapies
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2.2 Geography
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2.2.1 North America
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2.2.1.1 United States
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2.2.1.2 Canada
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2.2.1.3 Mexico
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2.2.2 Europe
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2.2.2.1 Germany
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2.2.2.2 United Kingdom
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2.2.2.3 France
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2.2.2.4 Italy
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2.2.2.5 Spain
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2.2.2.6 Rest of Europe
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2.2.3 Asia-Pacific
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2.2.3.1 China
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2.2.3.2 Japan
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2.2.3.3 India
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2.2.3.4 Australia
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2.2.3.5 South Korea
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2.2.3.6 Rest of Asia-Pacific
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2.2.4 Middle-East and Africa
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2.2.4.1 GCC
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2.2.4.2 South Africa
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2.2.4.3 Rest of Middle-East and Africa
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2.2.5 South America
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2.2.5.1 Brazil
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2.2.5.2 Argentina
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2.2.5.3 Rest of South America
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Differentiated Thyroid Cancer Therapeutics Market Size 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.
