Report Description
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 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
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Details
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Report Title
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Thyroid Cancer Diagnostics Market - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast
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Base Year
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2020
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Historic Data
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2018–2019
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Forecast Period
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2021–2028
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Segmentation
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Technique (Blood Test, Imaging, Biopsy), Types (Papillary Carcinoma, and Follicular Carcinoma), End Use (Hospital Laboratories, Cancer Diagnostic Centers, Research Institutes, and Others),
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Regional Scope
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Asia Pacific, North America, Latin America, Europe, and Middle East & Africa
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Report Coverage
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Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast
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Key Players Covered in the Report
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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.
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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.
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.
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.
Segments
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.
Competitive Landscape
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.
Table Of Content
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.