Global Thyroid Cancer Diagnostics Market
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Global Thyroid Cancer Diagnostics Market, By Type (Papillary Carcinoma, Follicular Carcinoma, Others), By Technique (Blood-Test, Imaging, [Ultrasound, Radioiodine Scan, Computed Tomography Scan, MRI Scan, PET Scan]), Biopsy, Molecular Testing, Others), By End-Use, By Region (North America, Europe, The Asia-Pacific, South America, The Middle East and Africa) Trend Analysis, Competitive Market Share & Forecast, 2017-2027
- Published Date: August 2021
- Report ID: BWC2157
- Available Format: PDF
- Page: 220
Report Overview
Global thyroid cancer diagnostics market is growing due to the increasing prevalence of thyroid cases, increasing awareness among people, technological advancements in the cancer diagnosis & treatment field, and increasing number of government initiatives and growing investments in research.Global Thyroid Cancer Diagnostics Market- Industry Trends & Forecast Report 2027
Global thyroid cancer diagnostics market was worth USD 2.5 billion in 2020. The market is further expected to reach USD 3.6 billion by 2027 with a CAGR of 5.3% during the forecast period. The global thyroid cancer diagnostics market has been driven by factors such as increasing thyroid cancer cases, growing awareness among people, technological advancements in the cancer diagnosis field, and increasing government initiatives and investments in research.
Source: BlueWeave Consulting
Global Thyroid Cancer Diagnostics Market Overview:
Thyroid cancer generally occurs in the thyroid gland, it is a butterfly-shaped gland located at the base of your neck, just below your Adam's apple. Genetic mutation in the thyroid gland can lead to thyroid cancer as mutation allows cells to grow uncontrollably and multiply rapidly. The mutated cells also lose the ability to die, like normal cells, and it leads to the accumulation of mutated cells in the thyroid gland and forms a tumor. Generally, thyroid cancer does not show symptoms at an early stage and because it can spread rapidly to other body parts, diagnosis of the condition becomes very important. Blood tests, imaging, and molecular testing are some of the methods for the diagnosis of thyroid cancer.
Global Thyroid Cancer Diagnostics Market Forecast and Trend
Growth Drivers
Growing thyroid cancer cases around the world
The increasing cases of thyroid cancer are a major concern. As per the International Agency of Cancer Research, of 586,202 new thyroid cancer cases projected for 2020, 349,897 were estimated to occur in the Asia-Pacific region, marking the highest number in the world. Moreover, with 25,668 deaths, the Asia-Pacific region also registered the highest number of deaths from thyroid cancer in 2020. A registered charity in England and Wales, Cancer Research UK states that thyroid cancer cases have gone by up 68% in the UK in the last decade. As thyroid cancer cases increase in the Asia-Pacific and across the globe, increasing demand for thyroid cancer diagnostic methods is expected to fuel the growth of the global thyroid cancer diagnostics market during the forecast period.
Prevalence of Iodine deficiency
The human body cannot produce sufficient thyroid hormone with a deficiency of iodine. The lack of thyroid can have multiple health issues, including enlargement of the thyroid (goiter), hypothyroidism, and intellectual disabilities in infants and children. People with iodine deficiency are at an increased risk of follicular thyroid cancer as lack of iodine affects the thyroid gland in the body. According to WHO data, more than 2 billion people around the world are suffering from iodine deficiency. A large number of iodine deficiency cases, coupled with very few symptoms of thyroid cancer, along with government initiatives to raise awareness for thyroid cancer is expected to be a major driver for the growth of the global thyroid cancer diagnostics market during the forecast period.
Restraints
Lack of Awareness
Thyroid cancer is a relatively uncommon type of cancer compared to other cancers like lung cancer, blood cancer, breast cancer, etc. Every year, governments around the world observe "Thyroid Awareness Month" to raise awareness of the disease. India celebrates thyroid awareness month in January every year, while the USA celebrates “Thyroid Cancer Awareness Month” in September. Low-income countries are even less aware of the condition, which is accompanied by a large number of iodine deficiency cases, and this is expected to be a major restraint for the growth of the global thyroid cancer diagnostics market during the forecast period.
Impact of COVID-19 in the industry
The COVID-19 outbreak affected all industries and supply chains, with some growing while others stalling. The global thyroid cancer diagnostics market was negatively affected by the COVID-19 because people were unable to get a proper diagnosis as a result of the lockdown. Based on a recent American Cancer Society study, healthcare industry efforts have shifted in favor of containing the spreading pandemic, which has negatively affected thyroid cancer diagnosis. Despite advice from the American Cancer Society and other organizations to get a regular diagnosis, there were restrictions on travel and lockdown which prevented proper diagnosis. Disruptions in the supply chain, logistical issues, trading bans further affected the market in 2020. As the thyroid cancer diagnostics market recovers, the emergence of a new, deadlier variant of COVID-19 is expected to have an adverse impact on its recovery. Finally, the threat of a third wave of COVID-19 in the near future is also expected to have an adverse effect.
Global Thyroid Cancer Diagnostics Market: By Technique
The global thyroid cancer diagnostics market is divided into blood-test, imaging, biopsy, molecular testing, and others. The imaging segment held a dominant position in the market in 2020, mainly due to low procedure costs, a shorter turnaround time for the report, and ease of diagnosis. The imaging segment includes techniques such as ultrasound, radioiodine scan, computed tomography scan (CT Scan), MRI scan, and PET scan. As a result of their ability to detect thyroid cancer, these techniques also support a dominant market share of the thyroid cancer diagnostics segment in the global market.
Source: BlueWeave Consulting
Global Thyroid Cancer Diagnostics Market: Regional insights
The global thyroid cancer diagnostics market is divided into the Asia-Pacific (APAC), North America, Europe, South America, and the Middle East & Africa regions. Among these regions, North America dominated the global thyroid cancer diagnostics market in 2020 and held the dominant market share owing to a large number of thyroid cancer cases in the country. Major factors driving the growth of the market in the region include a high number of thyroid cancer cases, the introduction of new medicines in the market, and campaigns to raise awareness about these diseases. The month of September is observed as "National Thyroid Cancer Awareness Month" in the United States to raise awareness about the disease.
Competitive Landscape
The Key Players in the Global Thyroid Cancer Diagnostics Market are Abbott, F.Hoffmann-La Roche Ltd., Thermo Fisher Scientific Inc., Siemens Healthcare GmbH, Bio-Rad Laboratories Inc., Agilent Technologies, Inc., Illumina, Inc., Hologic, Inc., Leica Biosystems Nussloch GmbH, Fujifilm Holding Corporation, Merck KGaA, BeckmanCoulters inc, Randox Laboratories Ltd and other prominent players.
The global thyroid cancer diagnostics market is consolidated in nature with a few key players taking the majority of the market share. The companies operating in the global thyroid cancer diagnostics market compete against each other based onproducts and services provided to the customers for various applications.
Recent Developments
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In August 2021, Cabometyx sNDA, a new supplemental medicine sponsored by Exelixis Inc., has received FDA's priority review as a treatment for differentiated thyroid cancer patients 12 years and older who have progressed following prior therapy and are radioactive iodine-refractory (if radioactive iodine is appropriate).
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In March 2021,The UK’s Medicines and Healthcare Products Regulatory Agency (MHRA) has approved Eli Lilly’s request to authorize the marketing of Retsevmo (selpercatinib) as monotherapy for several RET-driven advanced lung and thyroid cancer under certain conditions. The conditional approval was based on positive results from the LIBRETTO-001 Phase I/II trial.
Scope of the Report
Attribute |
Details |
Years Considered |
Historical data – 2017-2020 |
Base Year – 2020 |
|
Forecast – 2021 – 2027 |
|
Facts Covered |
Revenue in USD Billion |
Market Coverage |
United States, Canada, Germany, UK, France, Italy, Spain, Russia, China, India, Japan, Australia, South Korea, Brazil, Argentina, Mexico, Saudi Arabia, UAE, South Africa |
Product/Service Segmentation |
By Type, By Technique, By End-Use, By Region |
Key Players |
Key players in the market are Abbott, F. Hoffmann-La Roche Ltd., Thermo Fisher Scientific Inc., Siemens Healthcare GmbH, Bio-Rad Laboratories Inc., Agilent Technologies, Inc., Illumina, Inc., Hologic, Inc., Leica Biosystems Nussloch GmbH, Fujifilm Holding Corporation, Merck KGaA, BeckmanCoulters inc, Randox Laboratories Ltd., and other prominent players. |
By Type
-
Papillary Carcinoma
-
Follicular Carcinoma
-
Others
By Technique
-
Blood-Test
-
Imaging
-
Ultrasound
-
Radioiodine Scan
-
Computed Tomography Scan
-
MRI Scan
-
PET Scan
-
-
Biopsy
-
Molecular Testing
-
Others
By End-Use
-
Hospital/Laboratories
-
Cancer Diagnostics Centers
-
Research Institutes
-
Others
By Region
-
North America
-
Europe
-
Asia-Pacific
-
Latin America
-
Middle East & Africa
- Research Objective
- Objective of the study
- Product Overview
- Market Scope
- Analysis Period of the Study
- Data Reporting Unit
- Key Stakeholders
- Research Methodology
- Research Phases
- Methodology
- Regional Split of Primary & Secondary Research
- Secondary Research
- Primary Research
- Breakdown of Primary Research Respondents, By Region
- Breakdown of Primary Research Respondents, By Industry Participants
- Market Size Estimation
- Assumptions for the Study
- Limitations
- Market Breakdown & Data Triangulation
- Executive Summary
- Global Thyroid Cancer Diagnostics Market - Industry Insights
- Industry Value Chain Analysis
- DROC Analysis
- Growth Drivers
- Restraints
- Opportunities
- Challenges
- Recent Development/Technological Advancements
- Porter’s Five Forces Analysis
- Bargaining Application of Suppliers
- Bargaining Application of Buyers
- Threat of New Entrants
- Threat of Substitutes
- Intensity of Rivalry
- Global Thyroid Cancer Diagnostics Market Overview
- Market Size and Forecast
- By Value (USDBillion)
- Market Share & Forecast
- By Type
- Papillary Carcinoma
- Follicular Carcinoma
- Others
- By Technique
- Blood-Test
- Imaging
- Ultrasound
- Radioiodine Scan
- Computed Tomography Scan
- MRI Scan
- PET Scan
- Biopsy
- Molecular Testing
- Others
- By End-Use
- Hospital/Laboratories
- Cancer Diagnostics Centers
- Research Institutes
- Others
- By Region
- North America
- Europe
- Asia-Pacific
- Latin America
- Middle East & Africa
- By Type
- Market Size and Forecast
- North America Thyroid Cancer Diagnostics Market
- Market Size and Forecast
- By Value (USD Billion)
- Market Share & Forecast
- By Type
- By Technique
- End-Use
- By Country
- US
- Canada
- Market Size and Forecast
- Europe Thyroid Cancer Diagnostics Market
- Market Size and Forecast
- By Value (USD Billion)
- Market Share & Forecast
- By Type
- By Technique
- End-Use
- By Country
- Germany
- France
- UK
- Spain
- Italy
- Russia
- Rest of Europe
- Market Size and Forecast
- Asia-Pacific Thyroid Cancer Diagnostics Market
- Market Size and Forecast
- By Value (USD Billion)
- Market Share & Forecast
- By Type
- By Technique
- End-Use
- By Country
- China
- India
- Japan
- Australia
- South Korea
- Rest of Asia-Pacific
- Market Size and Forecast
- Latin America Thyroid Cancer Diagnostics Market
- Market Size and Forecast
- By Value (USD Billion)
- Market Share & Forecast
- By Type
- By Technique
- End-Use
- By Country
- Argentina
- Brazil
- Mexico
- Rest of Latin America
- Market Size and Forecast
- Middle East & Africa Thyroid Cancer Diagnostics Market
- Market Size and Forecast
- By Value (USD Billion)
- Market Share & Forecast
- By Type
- By Technique
- End-Use
- By Country
- Saudi Arabia
- UAE
- South Africa
- Rest of Middle East & Africa
- Market Size and Forecast
- Competitive Landscape
- Company Market Share Analysis, 2020
- Competitive Benchmarking, By Product Offerings
- List of Key Players and their Offerings
- Impact of Covid-19 across Industry
- Company Profile
- AbbottLaboratories
- F.Hoffmann-La Roche Ltd.
- Thermo Fisher Scientific Inc.
- Siemens Healthcare GmbH
- Bio-Rad Laboratories Inc.
- Agilent Technologies, Inc.
- Illumina, Inc.
- Hologic, Inc.
- Leica Biosystems Nussloch GmbH
- Fujifilm Holding Corporation
- Merck KGaA
- BeckmanCoulters Inc.
- Randox Laboratories Ltd.
- Other Prominent Players
*Financial details of unlisted companies will be available as per data availability in final deliverable
**The segmentation and the companies are subjected to modifications based on in-depth secondary for the final deliverable
List of Tables
Table 1: Global Thyroid Cancer Diagnostics Market Size, By Value (USD Billion), 2017-2027
Table 2: Global Thyroid Cancer Diagnostics Market Share, By Type, By Value, 2017-2027
Table 3: Global Thyroid Cancer Diagnostics Market Share, By Technique, By Value, 2017-2027
Table 4: Global Thyroid Cancer Diagnostics Market Share, By End-Use, By Value, 2017-2027
Table 5: Global Thyroid Cancer Diagnostics Market Share, By Region, By Value, 2017-2027
Table 6: North America Thyroid Cancer Diagnostics Market Size, By Type (USD Billion), 2017-2027
Table 7: North America Thyroid Cancer Diagnostics Market Share, By Technique, By Value, 2017-2027
Table 8: North America Thyroid Cancer Diagnostics Market Share, By End-Use, By Value, 2017-2027
Table 9: North America Thyroid Cancer Diagnostics Market Share, By Country, By Value, 2017-2027
Table 10: Europe Thyroid Cancer Diagnostics Market Size, By Type (USD Billion), 2017-2027
Table 11: Europe Thyroid Cancer Diagnostics Market Share, By Technique, By Value, 2017-2027
Table 12: Europe Thyroid Cancer Diagnostics Market Share, By End-Use, By Value, 2017-2027
Table 13: Europe Thyroid Cancer Diagnostics Market Share, By Country, By Value, 2017-2027
Table 14: Asia-Pacific Thyroid Cancer Diagnostics Market Size, By Type (USD Billion), 2017-2027
Table 15: The Asia-Pacific Thyroid Cancer Diagnostics Market Share, By Technique, By Value, 2017-2027
Table 16: The Asia-Pacific Thyroid Cancer Diagnostics Market Share, By End-Use, By Value, 2017-2027
Table 17: The Asia-Pacific Thyroid Cancer Diagnostics Market Share, By Country, By Value, 2017-2027
Table 18: Latin America Thyroid Cancer Diagnostics Market Size, By Type (USD Billion), 2017-2027
Table 19: Latin America Thyroid Cancer Diagnostics Market Share, By Technique, By Value, 2017-2027
Table 20: Latin America Thyroid Cancer Diagnostics Market Share, By End-Use, By Value, 2017-2027
Table 21: Latin America Thyroid Cancer Diagnostics Market Share, By Country, By Value, 2017-2027
Table 22: The Middle East & Africa Thyroid Cancer Diagnostics Market Size, By Type (USD Billion), 2017-2027
Table 23: The Middle East & Africa Thyroid Cancer Diagnostics Market Share, By Technique, By Value, 2017-2027
Table 24: The Middle East & Africa Thyroid Cancer Diagnostics Market Share, By End-Use, By Value, 2017-2027
Table 25: The Middle East & Africa Thyroid Cancer Diagnostics Market Share, By Country, By Value, 2017-2027
Table 26: Abbott Laboratories Financial Analysis
Table 27: Abbott Laboratories Business Overview
Table 28: F.Hoffmann-La Roche Ltd. Financial Analysis
Table 29: F.Hoffmann-La Roche Ltd. Business Overview
Table 30: Thermo Fisher Scientific Inc. Financial Analysis
Table 31: Thermo Fisher Scientific Inc. Business Overview
Table 32: Siemens Healthcare GmbH Financial Analysis
Table 33: Siemens Healthcare GmbH Business Overview
Table 34: Bio-Rad Laboratories Inc. Financial Analysis
Table 35: Bio-Rad Laboratories Inc. Business Overview
Table 36: Agilent Technologies, Inc. Financial Analysis
Table 37: Agilent Technologies, Inc. Business Overview
Table 38: Illumina, Inc. Financial Analysis
Table 39: Illumina, Inc. Business Overview
Table 40: Hologic, Inc. Financial Analysis
Table 41: Hologic, Inc. Business Overview
Table 42: Leica Biosystems Nussloch GmbH Financial Analysis
Table 43: Leica Biosystems Nussloch GmbH Business Overview
Table 44: Fujifilm Holding Corporation Financial Analysis
Table 45: Fujifilm Holding Corporation Business Overview
Table 46: Merck KGaA Financial Analysis
Table 47: Merck KGaA Business Overview
Table 48: BeckmanCoulters Inc. Financial Analysis
Table 49: BeckmanCoulters Inc. Business Overview
Table 50: Randox Laboratories Ltd. Financial Analysis
Table 51: Randox Laboratories Ltd. Business Overview
List of Figures
Fig 1: Global Thyroid Cancer Diagnostics Segmentation
Fig 2: Global Thyroid Cancer Diagnostics Market Value Chain Analysis
Fig 3: Company Market Share Analysis, 2020
Fig 4: Global Thyroid Cancer Diagnostics Market Size, By Value (USD Billion), 2017-2027
Fig 5: Global Thyroid Cancer Diagnostics Market Share, By Type, By Value, 2017-2027
Fig 6: Global Thyroid Cancer Diagnostics Market Share, By Technique, By Value, 2017-2027
Fig 7: Global Thyroid Cancer Diagnostics Market Share, By End-Use, By Value, 2017-2027
Fig 8: Global Thyroid Cancer Diagnostics Market Share, By Region, By Value, 2017-2027
Fig 9: North America Thyroid Cancer Diagnostics Market Size, By Type (USD Billion), 2017-2027
Fig 10: North America Thyroid Cancer Diagnostics Market Share, By Technique, By Value, 2017-2027
Fig 11: North America Thyroid Cancer Diagnostics Market Share, By End-Use, By Value, 2017-2027
Fig 12: North America Thyroid Cancer Diagnostics Market Share, By Country, By Value, 2017-2027
Fig 13: Europe Thyroid Cancer Diagnostics Market Size, By Type (USD Billion), 2017-2027
Fig 14: Europe Thyroid Cancer Diagnostics Market Share, By Technique, By Value, 2017-2027
Fig 15: Europe Thyroid Cancer Diagnostics Market Share, By End-Use, By Value, 2017-2027
Fig 16: Europe Thyroid Cancer Diagnostics Market Share, By Country, By Value, 2017-2027
Fig 17: Asia-Pacific Thyroid Cancer Diagnostics Market Size, By Type (USD Billion), 2017-2027
Fig 18: The Asia-Pacific Thyroid Cancer Diagnostics Market Share, By Technique, By Value, 2017-2027
Fig 19: The Asia-Pacific Thyroid Cancer Diagnostics Market Share, By End-Use, By Value, 2017-2027
Fig 20: The Asia-Pacific Thyroid Cancer Diagnostics Market Share, By Country, By Value, 2017-2027
Fig 21: Latin America Thyroid Cancer Diagnostics Market Size, By Type (USD Billion), 2017-2027
Fig 22: Latin America Thyroid Cancer Diagnostics Market Share, By Technique, By Value, 2017-2027
Fig 23: Latin America Thyroid Cancer Diagnostics Market Share, By End-Use, By Value, 2017-2027
Fig 24: Latin America Thyroid Cancer Diagnostics Market Share, By Country, By Value, 2017-2027
Fig 25: The Middle East & Africa Thyroid Cancer Diagnostics Market Size, By Type (USD Billion), 2017-2027
Fig 26: The Middle East & Africa Thyroid Cancer Diagnostics Market Share, By Technique, By Value, 2017-2027
Fig 27: The Middle East & Africa Thyroid Cancer Diagnostics Market Share, By End-Use, By Value, 2017-2027
Fig 28: The Middle East & Africa Thyroid Cancer Diagnostics Market Share, By Country, By Value, 2017-2027
Market Segmentation
- By Type
- Papillary Carcinoma
- Follicular Carcinoma
- Others
- By Technique
- Blood-Test
- Imaging
- Ultrasound
- Radioiodine Scan
- Computed Tomography Scan
- MRI Scan
- PET Scan
- Biopsy
- Molecular Testing
- Others
- By End-Use
- Hospital/Laboratories
- Cancer Diagnostics Centers
- Research Institutes
- Others
- By Region
- North America
- Europe
- The Asia-Pacific
- Latin America
- The Middle East & Africa
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