The thyroid cancer treatment market is projected to grow with a moderate CAGR during the forecast period, i.e., 2021-2029 on account of the increasing healthcare expenditure and the rising prevalence of thyroid cancer. As per The American Society of Clinical Oncology, in 2020, 44,280 number of adults in the United States is estimated to suffer from thyroid cancer. Such increasing prevalence of thyroid cancer is further expected to drive the growth of thyroid cancer treatment market.
Research Nester released a report titled “Thyroid Cancer Treatment Market: Global Demand Analysis & Opportunity Outlook 2029” which delivers detailed overview of the global thyroid cancer treatment market in terms of market segmentation by treatment type, cancer type, end-user and region.
Further, for the in-depth analysis, the report encompasses the industry growth indicators, restraints, supply and demand risk, along with detailed discussion on current and future market trends that are associated with the growth of the market.
The market is segmented by treatment type into surgery, iodine therapy, external radiotherapy, thyroxin treatment, chemotherapy, and drugs. Among these segments, the drug segment is anticipated to hold the largest share by the end of 2021 in the thyroid cancer treatment market as a result of the increasing number of drug approval rate globally by the government, which has increased the demand of thyroid cancer treatment products.
On the basis of region, the market is segmented into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa, out of which, the Thyroid cancer treatment market in the Asia Pacific is projected to grow at the highest CAGR throughout the forecast period. Currently, the market in North America holds the largest share. This can be attributed to the presence of leading healthcare providers in the region, especially in the United States, who are extensively involved in the research and development for innovative of new thyroid cancer treatment products.
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Increasing Ageing Population and Thyroid Cancer Prevalence Rate to Drive Market Growth
According to the United Nations, it is estimated that by 2050, every one in six people will be 65 years or older, i.e., 16% of the total world population. Along with this, the number of persons above 80 years or older is also projected to triple by the end of 2050.
Age is one of the most predominant risk factors for thyroid cancer. It has been observed that individuals whose age is above 65 years or more possess a high risk of having cancer. Additionally, the rising prevalence of thyroid cancer in recent years is also expected to boost the market growth in upcoming years. However, the strict government regulations and lack of awareness among the under-developed and developing countries are some of the factors that are estimated to restrain market growth in the near future.
This report also provides the existing competitive scenario of some of the key players of the global non-invasive glucose-monitoring market which includes company profiling of Sanofi S.A., Exelixis, Inc., Medtronic plc, Eisai Co., Ltd., Bayer AG, Novartis International AG, Pfizer Inc., Mylan N.V., Bristol Myers Squibb, and others. The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the global thyroid cancer treatment market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.
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