Thyroid Cancer Drug Market to Undergo High CAGR Growth of 21.47% By 2028

Posted by kelvindbmr on April 27th, 2021

Thyroid cancer drug market is expected to witness market growth at a rate of 21.47% in the forecast period of 2021 to 2028 and is expected to reach USD 3,548.27 million by 2028.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.

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.

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Segmentation: Global Thyroid Cancer Drug Market

•          By Type (Papillary thyroid cancer, Follicular thyroid cancer, Hurthle cell cancer, Medullary thyroid cancer (MTC) and Anaplastic thyroid cancer)
•          By Drug Type (Thyroid desiccated, Sorafenib, Thyrotropin alfa, Vandetanib, Doxorubicin, Cabozantinib, Lenvatini, Sodium iodide I-131, Dabrafenib, Trametinib and Others)
•          By Route of Administration (Oral, Injectable and Others)
•          By Treatment (Medication, Chemotherapy, Radioactive iodine (radioiodine) therapy, Hormone therapy, and Surgery)
•          By End- users (Hospitals, Homecare, Specialty Clinics, Others)
•          By Geography (North America, South America, Europe, Asia-Pacific, Middle East and Africa)

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.

Market Drivers

•          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

Market Restraints

•          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