Global Thyroid Cancer Diagnostics market - Industry Trends & Forecast Report 2027

1. Global Thyroid Cancer Diagnostics Market Gaining Momentum—Projected to Reach USD 3.6 Billion by 2027 GlobalThyroid Cancer Diagnostics market - Industry Trends & Forecast Report 2027 View report Sample report Press release 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. A study recently conducted by the strategic consulting and market research firm BlueWeave Consulting revealed that the global thyroid cancer diagnostics market was worth USD 2.5 billion in 2020 and is further projected to reach USD 3.6 billion by 2027, at a CAGR of 5.3% during the forecast period (2021-2027). The market is driven by factors, such as the growing number of thyroid cases, increasing awareness among people, and technological advancements in the cancer diagnosis and treatment field. An increasing number of initiatives by governments and growing investment in research are also expected to create lucrative opportunities for the growth of the thyroid cancer diagnostics market during the forecast period. 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.

2. Global Thyroid Cancer Diagnostics Market Gaining Momentum—Projected to Reach USD 3.6 Billion by 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.

3. Global Thyroid Cancer Diagnostics Market Gaining Momentum—Projected to Reach USD 3.6 Billion by 2027 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

4. Global Thyroid Cancer Diagnostics Market Gaining Momentum—Projected to Reach USD 3.6 Billion by 2027 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. Source: BlueWeave Consulting

5. Global Thyroid Cancer Diagnostics Market Gaining Momentum—Projected to Reach USD 3.6 Billion by 2027 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  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). 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 Historical data – 2017-2020 Base Year – 2020 Forecast – 2021 – 2027 Years Considered Facts Covered Revenue in USD Billion United States, Canada, Germany, UK, France, Italy, Spain, Russia, China, India, Japan, Australia, South Korea, Market Coverage

6. Global Thyroid Cancer Diagnostics Market Gaining Momentum—Projected to Reach USD 3.6 Billion by 2027 Brazil, Arabia, UAE, South Africa Argentina, Mexico, Saudi By Type, By Technique, By End-Use, By Region Product/Service Segmentation Key players in the market are Abbott, F. Hoffmann-La Roche Ltd., Thermo Fisher Scientific Healthcare GmbH, Laboratories Technologies, Inc., Illumina, Inc., Hologic, Inc., Leica Nussloch GmbH, Fujifilm Holding Corporation, Merck BeckmanCoulters Laboratories Ltd., prominent players. Inc., Siemens Bio-Rad Agilent Inc., Key Players Biosystems KGaA, Randox other inc, and Scope of the Report By Type oPapillary Carcinoma oFollicular Carcinoma oOthers By Technique oBlood-Test oImaging  Ultrasound  Radioiodine Scan  Computed Tomography Scan  MRI Scan  PET Scan oBiopsy oMolecular Testing oOthers By End-Use oHospital/Laboratories oCancer Diagnostics Centers oResearch Institutes oOthers By Region oNorth America    

7. Global Thyroid Cancer Diagnostics Market Gaining Momentum—Projected to Reach USD 3.6 Billion by 2027 oEurope oThe Asia-Pacific oLatin America oThe Middle East & Africa About us Blueweave Consulting offers a one-stop solution for your market intelligence needs for any service or product. You get well-researched comprehensive reports based on qualitative and quantitative data to put your business plan into action. Your well informed and timely decisions using our reports avert situations of excessive risks and help you grow your business with optimum risk-return trade- off. Delivering quality insights into several product or service markets within the timeline as per the needs of the clients has earned BWC an excellent reputation among clients. BWC strives to provide timely and accurate digital market intelligence services for making your business endeavours successful. For more information, kindly visit our Website www.blueweaveconsulting.com contact us info@blueweaveconsulting.com

8. Global Thyroid Cancer Diagnostics Market Gaining Momentum—Projected to Reach USD 3.6 Billion by 2027