Thyroid Cancer
Diagnostics Market: Introduction
·
Thyroid gland is made of thyroid cells that absorb iodine from food and
convert it into triiodothyronine (T3) and thyroxine (T4). These hormones are
released into the blood stream and play an important role in the regulation of
metabolism. A normal thyroid gland produces around 80% T4 and 20% T3. The
thyroid gland is prone to several issues including underactive thyroid
(hypothyroidism), overactive thyroid (hyperthyroidism), and thyroid nodules,
autoimmune thyroiditis (Hashimoto’s thyroiditis), and papillary thyroid
carcinoma.
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Thyroid cancer is a form of malignant cancer that is initiated from the
parfollicular and follicular thyroid cells. Treatments available for thyroid
cancer are the surgical removal of the thyroid gland, radioactive ablation, and
thyroid stimulating hormone (TSH) suppression therapy.
·
Papillary thyroid carcinoma is a highly common form of thyroid cancer
and constitutes about 80% of all thyroid cancers detected. Papillary thyroid
carcinomas are well-differentiated tumors that can largely remain asymptomatic
in early stages and are marked by only a mass or lump in the neck. Papillary
thyroid cancer has high survival rate, better prognosis, and can usually be cured
in most cases, unlike rare anaplastic thyroid cancer that grows and spreads
quickly and has lesser chance of recovery.
·
Follicular thyroid cancer accounts for 10% to 15% of all thyroid
cancers. It occurs more often in women and older patients with a female-to-male
ratio of 3:1 and a mean age of 60 years at the time of diagnosis. According to
the American Society of Clinical Oncology (ASCO), an estimated 52,070 adults
(14,260 men and 37,810 women) in the U.S. were diagnosed with thyroid cancer in
2019. Thus, a rise in cases of follicular thyroid cancer is propelling the
follicular thyroid carcinoma treatment market.
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Key Drivers and
Restraints of Global Thyroid Cancer Diagnostics Market
·
The global thyroid carcinoma treatment market is driven by an increase
in incidence of thyroid disorders such as hypothyroidism and hyperthyroidism.
Rise in the number of patients affected with autoimmune diseases (which is a
major risk factor for thyroid disorder). For instance, Grave’s disease is
considered as a major factor for consistent increase in incidence of thyroid
disorders, including cancer. Additionally, prevalence of thyroid cancer is
increasing at a consistent rate in developed countries. This boosts the global
thyroid cancer diagnostic market.
·
Organizations such as the World Health Organization (WHO) and the
American Association of Clinical Endocrinologists (AACE) have stated that
thyroid disorders are rapidly increasing and demand novel and effective thyroid
therapeutics for treatment
·
Age, gender, and exposure to harmful radiations are major risk factors
for developing thyroid cancer
·
Several private and government organizations and key companies are
engaged in increasing awareness about thyroid disorders through disorder
awareness campaigns in developing as well as developed regions. These programs
would increase awareness about thyroid cancer among the patient population,
leading to higher rate of adoption of thyroid therapeutics.
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Asia Pacific to
Lead Global Thyroid Cancer Diagnostics Market
·
In terms of region, the global thyroid cancer diagnostics market
can be segmented into North America, Europe, Asia Pacific, Latin America, and
Middle East & Africa. North America dominated the global follicular thyroid
carcinoma treatment market in 2019. It is expected to maintain its dominance
during the forecast period. This is due to an increase in the demand for
minimally invasive treatments and increase in focus on patient safety as well
as advancement in technologies and established distribution channels.
·
However, the market in Asia Pacific is projected to expand at a
prominent growth rate during the forecast period owing to an increase in
healthcare expenditure and improvement in healthcare facilities
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Key Players
Operating in Global Thyroid Cancer Diagnostics Market
The global thyroid cancer diagnostics
market is fragmented, with the presence of large number of small-scale and
large-scale companies
Leading companies operating in the
global thyroid cancer diagnostics market are:
·
Abbott Laboratories
·
Koninklijke Philips N.V.
·
F. Hoffmann-La Roche Ltd.
·
Fujifilm Holding Corporation
·
Leica Biosystems Nussloch GmbH
·
Toshiba Corporation
·
Agilent Technologies, Inc.
·
Illumina, Inc.
·
Siemens Healthineers
·
GE Healthcare
·
Hologic, Inc.
·
Bio-Rad Laboratories, Inc
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