Thyroid Cancer Diagnostics Market

Thyroid Cancer Diagnostics Market by Technique (Blood Test, Imaging, and Biopsy), Types (Papillary Carcinoma and Follicular Carcinoma), End Use (Hospital Laboratories, Cancer Diagnostic Centers, Research Institutes, and Others), and Regions (Asia Pacific, North America, Latin America, Europe, and Middle East & Africa) - Global Industry Analysis, Growth, Share, Size, Trends, And Forecast 2021 – 2028

  • Report ID: HC-679
  • Author: Growth Market Reports
  • Rating: 4.9
  • Total Reviews: 2
  • No. Of Pages: 190
  • Format:
  • Pub. Date: Upcoming
  • Share:

The global thyroid cancer diagnostics market size was valued at USD 2.5 billion in 2019. The market is projected to expand at a CAGR of 5.4% during the forecast period, 2021 – 2028. The growth of the market is attributed to the rising importance of early diagnosis & treatment and increasing presence of thyroid cancer.

Thyroid Cancer Diagnostics Market Key Takeaways

Thyroid cancer is comparatively uncommon type of cancer. The rates of patients are driven by advanced diagnostic tools over the past few years. High presence of this cancer is seen within age group of 20-34 years. Among children and teens presence of this disease is around 2%. Rising in government initiatives and funding for research are projected to drive market growth. Increasing healthcare expenditure and rising advanced technology are generating opportunities for the market.

The Covid-19 pandemic affected the thyroid cancer diagnostic market. Lockdown across the globe and supply chain disorders lead to unfortunate decline in market growth. . In the US the Centre of Medicare and Medicaid Services (CMS) has categorized cancer care on low priority service. Launch of vaccines to combat the Covid-19 pandemic is expected to contribute to the market growth over the forecast period.

Market Trends, Drivers, Restraints, and Opportunities

  • Increasing thyroid disorders such as hyperthyroidism and hypothyroidism is estimated to drive the market.
  • Gender, age, and exposure to harmful radiations are key factors responsible for thyroid cancer.
  • Several government and private organizations and major players are focused on increasing awareness about thyroid cancer. This fuels the global thyroid cancer diagnostic market.
  • Delay in diagnosis is major restraint for thyroid cancer diagnostics market.

Scope of the Report

The report on the global thyroid cancer diagnostics market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.

Attributes

Details

Report Title

Thyroid Cancer Diagnostics Market - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast

Base Year

2020

Historic Data

2018–2019

Forecast Period

2021–2028

Segmentation

Technique (Blood Test, Imaging, Biopsy), Types (Papillary Carcinoma, and Follicular Carcinoma), End Use (Hospital Laboratories, Cancer Diagnostic Centers, Research Institutes, and Others),

Regional Scope

Asia Pacific, North America, Latin America, Europe, and Middle East & Africa

Report Coverage

Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast

Key Players Covered in the Report

Abbott, F. Hoffmann-La Roche Ltd., Thermo Fisher Scientific, Inc., Siemens Healthcare GmbH, Bio-Rad Laboratories, Inc., General Electric, Koninklijke Philips N.V., Toshiba Corporation, Agilent Technologies, Inc., and Illumina, Inc.


Market Segment Insights

The imaging segment accounts for the key share
Based on technique, the global thyroid cancer diagnostics market is segregated into blood test, imaging, and biopsy. The imaging segment accounted the largest market share around 37% in 2019. For diagnosis of disease and cancer staging imaging tests continues to be mainstay in thyroid cancer treatment. Diagnostic tools such as CT/MRI scan or neck ultrasound are the most recommended tools for identification of disease. Imaging test such as bone scans, radioiodine scans, X-ray, and PET scan are the tests used for identifying metastasis. High cost and advanced technology are key factors for revenue generation in the thyroid cancer segment.

Thyroid ultrasound tests are used to calculate structural anomalies. Blood tests-measuring such as TSH, T4, and T3 levels-are used to test the functional variables. For suspicious cases fine needle biopsy is used in which nature of tumor-benign or malignant are determined.

The papillary carcinoma segment is expected to grow at a rapid pace
On the basis of types, the global thyroid cancer diagnostics market is bifurcated into papillary carcinoma and follicular carcinoma. The papillary carcinoma segment accounted for large market share of more than 80% in 2019.

The follicular carcinomas segment is estimated to expand at a substantial CAGR during the forecast period. Other conditions include anaplastic carcinoma, Hürthle cell carcinoma, and medullary thyroid carcinoma. Medullary thyroid carcinoma is one of the worst prediction rates. In this disease metasta sizes a number of lymph nodes at early stage because of which complicated and extensive surgery is required.

Thyroid Cancer Diagnostics Market By Types

Hospital laboratories segment accounts key share
Based on end use, the global thyroid cancer diagnostics market is divided into hospital laboratories, cancer diagnostic centers, research institutes, and others. The hospital laboratories segment accounted for the major market share of around38.5% in 2019. In developing and underdeveloped countries increasing investments in healthcare infrastructure, rising consumer awareness and growing patient inflow for cancer diagnosis in hospitals are responsible for growth of hospital laboratories segment in market.

The research institutes segment is estimated to expand at highest rate in the market over the forecast period due to rising funding for cancer research across the globe. For instance, around 105 research grants were funded by the American Thyroid Association (ATA) which is valued around 3 million related to this market.

Thyroid Cancer Diagnostics Market By End-use

Asia Pacific region is expected to grow at rapid pace
In terms of regions, the global thyroid cancer diagnostics market is classified as Asia Pacific, North America, Latin America, Europe, and Middle East & Africa. North America held more than 43% of the total share. In the U.S. several government initiatives are present for thyroid cancer diagnostics. Factors such as presence of several key players and rising healthcare expenditure are projected to boost the regional market.

In Asia Pacific the market is estimated to expand with high CAGR over the forecast period. Rise in disposable income, growing occurrence of thyroid cancer, and increase in consumer awareness in healthcare infrastructure are responsible for market growth in the region.

1. Executive Summary
2. Assumptions and Acronyms Used
3. Research Methodology
4. Thyroid Cancer Diagnostics Market Overview
  4.1. Introduction
     4.1.1. Market Taxonomy
     4.1.2. Market Definition
  4.2. Macro-Economic Factors
     4.2.1. Industry Outlook
  4.3. Thyroid Cancer Diagnostics Market Dynamics
     4.3.1. Market Drivers
     4.3.2. Market Restraints
     4.3.3. Opportunity
     4.3.4. Market Trends
  4.4. Thyroid Cancer Diagnostics Market - Supply Chain
  4.5. Global Thyroid Cancer Diagnostics Market Forecast
     4.5.1. Thyroid Cancer Diagnostics Market Size (US$ Mn) and Y-o-Y Growth
     4.5.2. Thyroid Cancer Diagnostics Market Size (000’ Units) and Y-o-Y Growth
     4.5.3. Thyroid Cancer Diagnostics Market Absolute $ Opportunity
5. Global Thyroid Cancer Diagnostics Market Analysis and Forecast by Types
  5.1. Market Trends
  5.2. Introduction
     5.2.1. Basis Point Share (BPS) Analysis by Types
     5.2.2. Y-o-Y Growth Projections by Types
  5.3. Thyroid Cancer Diagnostics Market Size and Volume Forecast by Types
     5.3.1. Papillary Carcinoma
     5.3.2. Follicular Carcinoma
     5.3.3. Others
  5.4. Absolute $ Opportunity Assessment by Types
  5.5. Market Attractiveness/Growth Potential Analysis by Types
6. Global Thyroid Cancer Diagnostics Market Analysis and Forecast by End Users
  6.1. Market Trends
  6.2. Introduction
     6.2.1. Basis Point Share (BPS) Analysis by End Users
     6.2.2. Y-o-Y Growth Projections by End Users
  6.3. Thyroid Cancer Diagnostics Market Size and Volume Forecast by End Users
     6.3.1. Hospital Laboratories
     6.3.2. Cancer Diagnostic Centers
     6.3.3. Research Institutes
     6.3.4. Others
  6.4. Absolute $ Opportunity Assessment by End Users
  6.5. Market Attractiveness/Growth Potential Analysis by End Users
7. Global Thyroid Cancer Diagnostics Market Analysis and Forecast by Region
  7.1. Market Trends
  7.2. Introduction
     7.2.1. Basis Point Share (BPS) Analysis by Region
     7.2.2. Y-o-Y Growth Projections by Region
  7.3. Thyroid Cancer Diagnostics Market Size and Volume Forecast by Region
     7.3.1. North America
     7.3.2. Latin America
     7.3.3. Europe
     7.3.4. Asia Pacific
     7.3.5. Middle East and Africa (MEA)
  7.4. Absolute $ Opportunity Assessment by Region
  7.5. Market Attractiveness/Growth Potential Analysis by Region
  7.6. Global Thyroid Cancer Diagnostics Demand Share Forecast, 2019-2026
8. North America Thyroid Cancer Diagnostics Market Analysis and Forecast
  8.1. Introduction
     8.1.1. Basis Point Share (BPS) Analysis by Country
     8.1.2. Y-o-Y Growth Projections by Country
  8.2. North America Thyroid Cancer Diagnostics Market Size and Volume Forecast by Country
     8.2.1. U.S.
     8.2.2. Canada
  8.3. Absolute $ Opportunity Assessment by Country
  8.4. North America Thyroid Cancer Diagnostics Market Size and Volume Forecast by Types
     8.4.1. Papillary Carcinoma
     8.4.2. Follicular Carcinoma
     8.4.3. Others
  8.5. Basis Point Share (BPS) Analysis by Types
  8.6. Y-o-Y Growth Projections by Types
  8.7. North America Thyroid Cancer Diagnostics Market Size and Volume Forecast by End Users
     8.7.1. Hospital Laboratories
     8.7.2. Cancer Diagnostic Centers
     8.7.3. Research Institutes
     8.7.4. Others
  8.8. Basis Point Share (BPS) Analysis by End Users
  8.9. Y-o-Y Growth Projections by End Users
  8.10. Market Attractiveness/Growth Potential Analysis
     8.10.1. By Country
     8.10.2. By Product Type
     8.10.3. By Application
  8.11. North America Thyroid Cancer Diagnostics Demand Share Forecast, 2019-2026
9. Latin America Thyroid Cancer Diagnostics Market Analysis and Forecast
  9.1. Introduction
     9.1.1. Basis Point Share (BPS) Analysis by Country
     9.1.2. Y-o-Y Growth Projections by Country
     9.1.3. Latin America Average Pricing Analysis
  9.2. Latin America Thyroid Cancer Diagnostics Market Size and Volume Forecast by Country
      9.2.1. Brazil
      9.2.2. Mexico
      9.2.3. Rest of Latin America
   9.3. Absolute $ Opportunity Assessment by Country
  9.4. Latin America Thyroid Cancer Diagnostics Market Size and Volume Forecast by Types
     9.4.1. Papillary Carcinoma
     9.4.2. Follicular Carcinoma
     9.4.3. Others
  9.5. Basis Point Share (BPS) Analysis by Types
  9.6. Y-o-Y Growth Projections by Types
  9.7. Latin America Thyroid Cancer Diagnostics Market Size and Volume Forecast by End Users
     9.7.1. Hospital Laboratories
     9.7.2. Cancer Diagnostic Centers
     9.7.3. Research Institutes
     9.7.4. Others
  9.8. Basis Point Share (BPS) Analysis by End Users
  9.9. Y-o-Y Growth Projections by End Users
  9.10. Market Attractiveness/Growth Potential Analysis
     9.10.1. By Country
     9.10.2. By Product Type
     9.10.3. By Application
  9.11. Latin America Thyroid Cancer Diagnostics Demand Share Forecast, 2019-2026
10. Europe Thyroid Cancer Diagnostics Market Analysis and Forecast
  10.1. Introduction
     10.1.1. Basis Point Share (BPS) Analysis by Country
     10.1.2. Y-o-Y Growth Projections by Country
     10.1.3. Europe Average Pricing Analysis
  10.2. Europe Thyroid Cancer Diagnostics Market Size and Volume Forecast by Country
     10.2.1. Germany
     10.2.2. France
     10.2.3. Italy
     10.2.4. U.K.
     10.2.5. Spain
     10.2.6. Russia
     10.2.7. Rest of Europe
  10.3. Absolute $ Opportunity Assessment by Country
  10.4. Europe Thyroid Cancer Diagnostics Market Size and Volume Forecast by Types
     10.4.1. Papillary Carcinoma
     10.4.2. Follicular Carcinoma
     10.4.3. Others
  10.5. Basis Point Share (BPS) Analysis by Types
  10.6. Y-o-Y Growth Projections by Types
  10.7. Europe Thyroid Cancer Diagnostics Market Size and Volume Forecast by End Users
     10.7.1. Hospital Laboratories
     10.7.2. Cancer Diagnostic Centers
     10.7.3. Research Institutes
     10.7.4. Others
  10.8. Basis Point Share (BPS) Analysis by End Users
  10.9. Y-o-Y Growth Projections by End Users
  10.10. Market Attractiveness/Growth Potential Analysis
     10.10.1. By Country
     10.10.2. By Product Type
     10.10.3. By Application
  10.11. Europe Thyroid Cancer Diagnostics Demand Share Forecast, 2019-2026
11. Asia Pacific Thyroid Cancer Diagnostics Market Analysis and Forecast
  11.1. Introduction
     11.1.1. Basis Point Share (BPS) Analysis by Country
     11.1.2. Y-o-Y Growth Projections by Country
     11.1.3. Asia Pacific Average Pricing Analysis
  11.2. Asia Pacific Thyroid Cancer Diagnostics Market Size and Volume Forecast by Country
     11.2.1. China
     11.2.2. Japan
     11.2.3. South Korea
     11.2.4. India
     11.2.5. Australia
     11.2.6. Rest of Asia Pacific (APAC)
  11.3. Absolute $ Opportunity Assessment by Country
  11.4. Asia Pacific Thyroid Cancer Diagnostics Market Size and Volume Forecast by Types
     11.4.1. Papillary Carcinoma
     11.4.2. Follicular Carcinoma
     11.4.3. Others
  11.5. Basis Point Share (BPS) Analysis by Types
  11.6. Y-o-Y Growth Projections by Types
  11.7. Asia Pacific Thyroid Cancer Diagnostics Market Size and Volume Forecast by End Users
     11.7.1. Hospital Laboratories
     11.7.2. Cancer Diagnostic Centers
     11.7.3. Research Institutes
     11.7.4. Others
  11.8. Basis Point Share (BPS) Analysis by End Users
  11.9. Y-o-Y Growth Projections by End Users
  11.10. Market Attractiveness/Growth Potential Analysis
     11.10.1. By Country
     11.10.2. By Product Type
     11.10.3. By Application
  11.11. Asia Pacific Thyroid Cancer Diagnostics Demand Share Forecast, 2019-2026
12. Middle East & Africa Thyroid Cancer Diagnostics Market Analysis and Forecast
  12.1. Introduction
     12.1.1. Basis Point Share (BPS) Analysis by Country
     12.1.2. Y-o-Y Growth Projections by Country
     12.1.3. Middle East & Africa Average Pricing Analysis
  12.2. Middle East & Africa Thyroid Cancer Diagnostics Market Size and Volume Forecast by Country
     12.2.1. Saudi Arabia
     12.2.2. South Africa
     12.2.3. UAE
     12.2.4. Rest of Middle East & Africa (MEA)
  12.3. Absolute $ Opportunity Assessment by Country
  12.4. Middle East & Africa Thyroid Cancer Diagnostics Market Size and Volume Forecast by Types
     12.4.1. Papillary Carcinoma
     12.4.2. Follicular Carcinoma
     12.4.3. Others
  12.5. Basis Point Share (BPS) Analysis by Types
  12.6. Y-o-Y Growth Projections by Types
  12.7. Middle East & Africa Thyroid Cancer Diagnostics Market Size and Volume Forecast by End Users
     12.7.1. Hospital Laboratories
     12.7.2. Cancer Diagnostic Centers
     12.7.3. Research Institutes
     12.7.4. Others
  12.8. Basis Point Share (BPS) Analysis by End Users
  12.9. Y-o-Y Growth Projections by End Users
  12.10. Market Attractiveness/Growth Potential Analysis
     12.10.1. By Country
     12.10.2. By Product Type
     12.10.3. By Application
  12.11. Middle East & Africa Thyroid Cancer Diagnostics Demand Share Forecast, 2019-2026
13. Competition Landscape
  13.1. Global Thyroid Cancer Diagnostics Market: Market Share Analysis
  13.2. Thyroid Cancer Diagnostics Distributors and Customers
  13.3. Thyroid Cancer Diagnostics Market: Competitive Dashboard
  13.4. Company Profiles (Details: Overview, Financials, Developments, Strategy)
     13.4.1. Abbott
     13.4.2. F. Hoffmann-La Roche Ltd.
     13.4.3. Thermo Fisher Scientific, Inc.
     13.4.4. Siemens Healthcare GmbH
     13.4.5. Bio-Rad Laboratories, Inc
     13.4.6. General Electric
     13.4.7. Koninklijke Philips N.V.
     13.4.8. Toshiba Corporation
     13.4.9. Agilent Technologies, Inc.
     13.4.10. Illumina, Inc.
Segments Covered in the Report
The global thyroid cancer diagnostics market has been segmented on the basis of

Types
  • Papillary Carcinoma
  • Follicular Carcinoma
  • Others
Techniques
  • Blood Tests
  • Imaging
  • Biopsy
  • Others
End-use
  • Hospital Laboratories
  • Cancer Diagnostic Centers
  • Research Institutes
  • Others
Regions
  • Asia Pacific
  • North America
  • Latin America
  • Europe
  • Middle East & Africa
Key Players
  • Abbott
  • F. Hoffmann-La Roche Ltd.
  • Thermo Fisher Scientific, Inc.
  • Siemens Healthcare GmbH
  • Bio-Rad Laboratories, Inc
  • General Electric
  • Koninklijke Philips N.V.
  • Toshiba Corporation
  • Agilent Technologies, Inc.
  • Illumina, Inc.

Some of the key players in the market are Abbott, F. Hoffmann-La Roche Ltd., Thermo Fisher Scientific, Inc., Siemens Healthcare GmbH, Bio-Rad Laboratories, Inc, General Electric, Koninklijke Philips N.V., Toshiba Corporation, Agilent Technologies, Inc., and Illumina, Inc.

Many key players are concentrating on strategic initiatives such as mergers and acquisitions, co-development deals, product launches & development, and licensing partnerships which makes market more competitive. For instance, Veracyte, Inc., in April 2020, launched the Afirma Xpression Atlas (XA) test which is able to detect novel and rare gene alterations using RNA sequencing.

 Thyroid Cancer Diagnostics Market By Key Players

Buy Report