Thyroid Cancer Therapeutics Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

The market is segmented By Type (Papillary thyroid cancer, Follicular thyroid cancer, Medullary thyroid cancer (MTC), Anaplastic thyroid cancer, Hurthle cell cancer), By Therapy and Geography.

Market SnapShot

thyroid cancer therapeutics 1
Study Period: 2018 - 2026
Base Year: 2021
Fastest Growing Market: Asia Pacific
Largest Market: North America
CAGR: 12.4 %

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Market Overview

The thyroid cancer therapeutics market is expected to register a CAGR of 12.4% during the forecast period. Thyroid cancer is a type of cancer that develops in the thyroid gland and can spread to other parts of the body. The thyroid gland is a butterfly-shaped gland that wraps around the front of the windpipe. The thyroid gland is a part of the endocrine system, that produces and controls the hormones in the body. The thyroid gland produces hormones that regulate blood pressure, heart rate, energy metabolism, and body temperature. There are four main types of thyroid cancer, classified based on the types of cells where cancer begins papillary, follicular, medullary and anaplastic thyroid cancer. Papillary thyroid cancer is the most common type of thyroid cancer, accounting for about 80% of all cases. Thyroid cancer typically doesn't cause any signs or symptoms early in the disease. As thyroid cancer grows, it may cause a lump (nodule) that can be felt through the skin on the neck, difficulties in swallowing, pain in neck and throat, and swollen lymph nodes in the neck.

As per the American Society of Clinical Oncology (ASCO) in 2019, approximately 14,260 men and 37,810 women in the United States were diagnosed with thyroid cancer. It is the most common cancer in women between 20 to 34 years of age and women are more likely to develop thyroid cancer than men. About 2% of cases occur in children and teens. In addition, rise in thyroid cancer can be attributed to family history of goiter, exposure to radiation and some hereditary syndromes.

Furthermore, rising cases of thyroid cancer worldwide, increasing government funds, and growing awareness regarding thyroid cancer treatment options are the key driving factors in thyroid cancer therapeutics market.

Scope of the Report

As per the scope of the report, thyroid cancer is cancer that develops from the tissues of the thyroid gland in which cells grow abnormally and have the potential to spread to other parts of the body. thyroid cancer therapeutics market is segmented by type, therapy, and geography.

By Type
Papillary thyroid cancer
Follicular thyroid cancer
Medullary thyroid cancer (MTC)
Anaplastic thyroid cancer
Hurthle cell cancer
By Therapy
Radiation Therapy
Other Therapies
North America
United States
United Kingdom
Rest of Europe
South Korea
Rest of Asia-Pacific
Middle-East and Africa
South Africa
Rest of Middle-East and Africa
South America
Rest of South America

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Key Market Trends

Drugs Segment is Expected to Hold a Major Market Share in the Thyroid Cancer Therapeutics Market

Drugs segment holds a significant market share in the thyroid cancer therapeutics market and is anticipated to show a similar trend over the forecast period owing to an increase in the use of combination drugs as these are more effective and helps to prevent cancer progression. For instance, in 2018, the FDA approved the combination of dabrafenib (Tafinlar) and trametinib (Mekinist) for the treatment of anaplastic thyroid cancer. These combination drugs prevent the growth of cancer cells and reduce the development of drug resistance.

As per the Thyroid Cancer Survivors' Association, estimates that there will be about 52,890 new cases of thyroid cancer in the United States in 2020, compared to 52,070 cases in the year 2019. Deaths due to thyroid cancer are expected to increase slightly to 2,180 in the year 2020, from 2,170 in 2019, 2,060 in 2018, and 2,010 in 2017. Moreover, increasing incidence and prevalence of thyroid cancer cases and promising pipeline drugs for the treatment of thyroid cancer are the key driving factors in the drugs segment.

Thyroid Cancer Therapeutics key trend 1.png

North America is Expected to Hold a Significant Share in the Market and Expected to do Same in the Forecast Period

North America is expected to hold a major market share in the global thyroid cancer therapeutics market due to increasing cases of thyroid cancer in this region. According to the Centers for Disease Control and Prevention (CDC), every year about 35,000 women and 12,000 men suffer from thyroid cancer, and more than 1,100 women and 900 men die from the disease. Moreover, in the United States in 2016, it is estimated that about 64,000 new patients were diagnosed with thyroid cancer. Furthermore, the presence of top pharma and biotech companies that are involved in the development of new therapies and the presence of well-established healthcare infrastructure is also fueling the growth of the overall regional market to a large extent.

Thyroid Cancer Therapeutics Market 2

Competitive Landscape

The Thyroid Cancer Therapeutics Market is fragmented competitive and consists of several major players. In terms of market share, few of the major players are currently dominating the market. Some of the companies which are currently dominating the market include Sanofi (Genzyme Corporation), Exelixis, Inc, Medtronic Plc, Eisai Co., Ltd, Bayer AG, AbbVie Inc, Novartis AG, Pfizer Inc, Mylan N.V. and Bristol-Myers Squibb Company among others.

Table of Contents


    1. 1.1 Study Assumptions

    2. 1.2 Scope of the Study




    1. 4.1 Market Overview

    2. 4.2 Market Drivers

      1. 4.2.1 Increasing Prevalence and Incidence Rates of Thyroid Cancer

      2. 4.2.2 Growing Awareness about Treatment Options for Thyroid Cancer

      3. 4.2.3 Rising Government Funds and Favorable Reimbursement Policies

    3. 4.3 Market Restraints

      1. 4.3.1 Introduction of Generic Drugs Due to Patent Expiry of the Branded Drugs

    4. 4.4 Porter's Five Force Analysis

      1. 4.4.1 Threat of New Entrants

      2. 4.4.2 Bargaining Power of Buyers/Consumers

      3. 4.4.3 Bargaining Power of Suppliers

      4. 4.4.4 Threat of Substitute Products

      5. 4.4.5 Intensity of Competitive Rivalry


    1. 5.1 By Type

      1. 5.1.1 Papillary thyroid cancer

      2. 5.1.2 Follicular thyroid cancer

      3. 5.1.3 Medullary thyroid cancer (MTC)

      4. 5.1.4 Anaplastic thyroid cancer

      5. 5.1.5 Hurthle cell cancer

    2. 5.2 By Therapy

      1. 5.2.1 Drugs

      2. 5.2.2 Radiation Therapy

      3. 5.2.3 Other Therapies

    3. 5.3 Geography

      1. 5.3.1 North America

        1. United States

        2. Canada

        3. Mexico

      2. 5.3.2 Europe

        1. Germany

        2. United Kingdom

        3. France

        4. Italy

        5. Spain

        6. Rest of Europe

      3. 5.3.3 Asia-Pacific

        1. China

        2. Japan

        3. India

        4. Australia

        5. South Korea

        6. Rest of Asia-Pacific

      4. 5.3.4 Middle-East and Africa

        1. GCC

        2. South Africa

        3. Rest of Middle-East and Africa

      5. 5.3.5 South America

        1. Brazil

        2. Argentina

        3. Rest of South America


    1. 6.1 Company Profiles

      1. 6.1.1 Sanofi (Genzyme Corporation)

      2. 6.1.2 Exelixis, Inc

      3. 6.1.3 Medtronic Plc

      4. 6.1.4 Eisai Co., Ltd

      5. 6.1.5 Bayer AG

      6. 6.1.6 AbbVie Inc

      7. 6.1.7 Novartis AG

      8. 6.1.8 Pfizer Inc

      9. 6.1.9 Mylan N.V.

      10. 6.1.10 Bristol-Myers Squibb Company

    2. *List Not Exhaustive

**Competitive Landscape covers- Business Overview, Financials, Products and Strategies, and Recent Developments

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Frequently Asked Questions

The undefined market is studied from 2018 - 2026.

The undefined is growing at a CAGR of 12.4% over the next 5 years.

Asia Pacific is growing at the highest CAGR over 2021- 2026.

North America holds highest share in 2021.

Exelixis, Inc, Sanofi (Genzyme Corporation), Medtronic Plc, Eisai Co., Ltd, Bayer AG are the major companies operating in undefined.

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