Market Trends of Differentiated Thyroid Cancer Therapeutics Industry
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.
