As a result of the introduction of various new technologies and medications, a rising percentage of thyroid malignancies have been diagnosed at an early stage of therapy. Advanced treatments that result in long-term survival, few surgical complications, and increased quality of life at a low cost. Differentiated, medullary, and anaplastic thyroid carcinoma are the three primary kinds of thyroid cancer. Anaplastic thyroid cancer, for example, is characterised by an aggressive, undifferentiated tumour. Thyroid lymphomas, thyroid sarcomas, parathyroid cancer, and other rare thyroid tumours are among the numerous kinds of thyroid cancer.
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The market for thyroid cancer medications is predicted to develop as the prevalence of thyroid cancer rises. According to National Cancer Institute (NCI) figures from 2013 to 2015, around 1.2 percent of men and women in the United States are projected to be diagnosed with thyroid cancer at some point throughout their lives. Furthermore, according to the NCI 2018 data, there were an estimated 53,990 new instances of thyroid cancer in 2018, with an estimated 2,060 persons dying from thyroid cancer in the United States.
Furthermore, according to Cancer Research UK’s 2015 data, 3,528 new cases of thyroid cancer were documented in the United Kingdom in 2015.Thyroid cancer accounted for 1% of all cancer cases in 2015, according to the same source, with 27 percent of thyroid cancer cases in males and 73 percent in females in the United Kingdom. Furthermore, in 2012, the lifetime chance of having thyroid cancer in the United Kingdom was roughly 1 in 480 for men and 1 in 180 for women, according to Cancer Research UK. Anaplastic thyroid cancer accounts for 2% of all thyroid malignancies in North America, according to the American Cancer Society.
Several initiatives have been approved by the FDA in order to enhance the availability of medications to treat critical diseases. The FDA approved a combination of two targeted medications, dabrafenib and trametinib, in May 2018 to treat patients with anaplastic thyroid cancer. Tafinlar (dabrafenib) and Mekinist (trametinib) are the first FDA-approved treatments for thyroid tumours of this sort. Furthermore, the FDA authorised Lenvatinib in 2015 for the treatment of radioactive iodine-refractory differentiated thyroid carcinoma that is locally recurrent or metastatic.
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Nexavar (sorafenib) was approved by the US Food and Drug Administration in November 2013 to treat patients with Stage IV thymoma. Furthermore, thyroid cancer drug rejection is likely to be a major restraint on market expansion due to the medicine’s inability to provide efficient output to thyroid cancer patients. For example, the National Institute for Health and Care Excellence (NICE) rejected Bayer’s Nexavar and Eisai’s Lenvima in thyroid cancer in October 2017, claiming that neither medicine is cost-effective.
Thyroid cancer medications are divided into five regions: North America, Latin America, Europe, the Middle East, Asia Pacific, and Africa. The market for thyroid cancer medications is dominated by North America. This is due to the rising incidence of thyroid cancer in this area. According to data from the National Cancer Institute (NCI), 765,547 people in the United States were diagnosed with thyroid cancer in 2015. Furthermore, according to the same source, 53,990 new instances of thyroid cancer are predicted to be diagnosed in 2018, accounting for 3.1% of all new cancer cases.
Biovista, Vascular Biogenics, Azaya Therapeutics, Bionomics, Bayer, Eisai, Bio-Path Holdings, Takeda Pharmaceutical Company, GlaxoSmithKline plc, and AstraZeneca plc are some of the major competitors in the thyroid cancer medications industry. In order to increase their market share and maintain their position in the industry, key companies in the market are focused on organic growth tactics. For example, in May 2016, U.S. Food and Drug Administration (FDA) granted Orphan Drug Designation for AstraZeneca’s investigational MEK 1/2 inhibitor, selumetinib for adjuvant treatment of patients with stage III or IV differentiated thyroid cancer (DTC). AstraZeneca’s kinase inhibitor vandetanib was also licenced by the FDA in April 2011 for the treatment of unresectable or metastatic medullary thyroid carcinoma.
Furthermore, through their different product pipelines, significant firms are creating effective medications to treat thyroid cancer. Azaya Therapeutics, Inc., for example, reported the Phase I study of ATI-1123 (liposomal docetaxel), an anti-cancer medicine that is also suggested for thyroid cancer treatment, in June 2012. According to the findings, 79 percent of patients who had been significantly pretreated received benefit from ATI-1123.
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Current and future of global Thyroid Cancer Drugs market outlook in the developed and emerging markets
The segment that is expected to dominate the market as well as the segment which holds highest CAGR in the forecast period.
Regions/countries that are expected to witness the fastest growth rates during the forecast period
The latest developments, market shares, and strategies that are employed by the major market players
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Thyroid Cancer Drugs Market Taxonomy:
By Drug Type:
- Ipilimumab
- Cabozantinib-S-Malate
- Caprelsa (Vandetanib)
- Doxorubicin Hydrochloride
- Cometriq (Cabozantinib-S-Malate)
- Lenvatinib Mesylate
- Nivolumab
- Vandetanib
- Others
By End Users:
- Hospitals
- Oncology Clinics
- Research Organizations
- Others
By Geography:
- North America
- Latin America
- Europe
- Asia Pacific
- Middle East
- Africa
Major Point Answered in Thyroid Cancer Drugs Market Research Study are:
What will be the progress rate of the Thyroid Cancer Drugs Market for the conjecture period, 2020-2027?
What are the prominent factors driving the Thyroid Cancer Drugs Market across different regions?
Who are the major vendors dominating the Thyroid Cancer Drugs industry and what are their winning strategies?
What will be the market scope for the estimated period?
What are the major trends shaping the expansion of the industry in the coming years?
What are the challenges faced by the Thyroid Cancer Drugs Market?
Actual Numbers & In-Depth Analysis, Business opportunities, Market Size Estimation Available in Full Report.
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