The global thyroid cancer diagnostics market size is expected to reach USD 3.6 billion by 2027, expanding at a CAGR of 5.5%, according to a new report by Grand View Research, Inc. The growth of the market is attributed to increasing disease prevalence and emergence of novel diagnostic products. Although the cancer is uncommon worldwide, the incidence rate is on the rise-driven by more sensitive and precise tools to diagnose the disease. It develops as a result of abnormal cell division in the thyroid gland. Since the glandular hormones regulate several functions-such as weight, body temperature, heart rate, and blood pressure, structural or functional anomalies are likely to affect several or all of the aforementioned factors.
It
is estimated that over 75.0% of the global population has thyroid nodules;
however, most of them are benign. Less than 1.0% of these nodules become
malignant. Nearly 1.2% of all women and men are likely to be diagnosed with
thyroid cancer in their lifetime. Although the disease can be manifested at any
age group, the condition is most prevalent post 30 years of age. Furthermore, the
disease aggressiveness escalates with age. Women are more susceptible to the
disease than men.
Lack
of exact signs and symptoms during the initial stages presents a challenge for
early disease diagnosis. Advanced stages of the diseases are indicated by common
symptoms, such as a lump in the neck, hoarseness of voice, pain in throat and
neck, difficulty swallowing, and swollen lymph nodes in the neck. Although the
exact causative factor remains unknown, thyroid cancer is largely associated
with genetic mutations.
The
market has undergone a paradigm shift over the last few years, driven by the
introduction of biomarkers and launch of improved products for diagnosis.
However, disease progression and recurrence remain high, especially among older
patients. Strong unmet needs present a key opportunity to develop breakthrough
first-in-class diagnosis of the disease.
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Thyroid Cancer
Diagnostics Market Report Highlights
- Thyroid cancer is a
relatively rare, accounting for 1 in 100 cases, in U.S
- The condition affects women
and men at 3:1 ratio
- Papillary carcinoma accounts
for nearly 80.0% of all cases
- Imaging techniques, such
as MRI, CT & PET scan, are the preferred tools for disease
staging
- Diagnostic tests at the
molecular and genetic level are the prime growth drivers
- In patients younger than 50
years, the cure rate for papillary and follicular carcinomas is nearly
98.0% - if treated appropriately
- Asia Pacific is positioned
to demonstrate the fastest regional growth.
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Thyroid Cancer
Diagnostics Market Segmentation
Grand View Research has segmented
the global thyroid cancer diagnostics market based on type, technique, end use,
and region:
Thyroid Cancer
Diagnostics Type Outlook (Revenue, USD Million, 2016 - 2027)
- Papillary Carcinoma
- Follicular Carcinoma
- Others
Thyroid Cancer
Diagnostics Technique Outlook (Revenue, USD Million, 2016 - 2027)
- Blood Tests
- Imaging
- Biopsy
- Others
Thyroid Cancer
Diagnostics End-use Outlook (Revenue, USD Million, 2016 - 2027)
- Hospital Laboratories
- Cancer Diagnostic Centers
- Research Institutes
- Others
Thyroid Cancer
Diagnostics Regional Outlook (Revenue, USD Million, 2016 - 2027)
- North America
- U.S.
- Canada
- Europe
- U.K.
- Germany
- France
- Italy
- Spain
- Asia Pacific
- Japan
- China
- India
- South Korea
- Australia
- Latin America
- Brazil
- Mexico
- Argentina
- Middle East & Africa
- South Africa
- UAE
- Saudi Arabia
List of Key Players
of Thyroid Cancer Diagnostics Market
- Abbott
- F.Hoffmann-La Roche Ltd.
- Thermo Fisher Scientific,
Inc.
- Siemens Healthcare GmbH
- Bio-Rad Laboratories, Inc
- General Electric
- Koninklijke Philips N.V.
- Toshiba Corporation
- Agilent Technologies, Inc.
- Illumina, Inc.
About Grand View Research
Grand
View Research, Inc. is a U.S. based market research and consulting company,
registered in the State of California and headquartered in San Francisco. The
company provides syndicated research reports, customized research reports, and
consulting services. To help clients make informed business decisions, we offer
market intelligence studies ensuring relevant and fact-based research across a
range of industries, from technology to chemicals, materials and healthcare.
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