SAN FRANCISCO, July 1, 2020 /PRNewswire/ — The global thyroid cancer diagnostics market size is expected to reach USD 3.6 billion by 2027, expanding at a CAGR of 5.5%, according to a new report by Grand View Research, Inc. The growth of the market is attributed to increasing disease prevalence and emergence of novel diagnostic products. Although the cancer is uncommon worldwide, the incidence rate is on the rise-driven by more sensitive and precise tools to diagnose the disease. It develops as a result of abnormal cell division in the thyroid gland. Since the glandular hormones regulate several functions-such as weight, body temperature, heart rate, and blood pressure, structural or functional anomalies are likely to affect several or all of the aforementioned factors.
It is estimated that over 75.0% of the global population has thyroid nodules; however, most of them are benign. Less than 1.0% of these nodules become malignant. Nearly 1.2% of all women and men are likely to be diagnosed with thyroid cancer in their lifetime. Although the disease can be manifested at any age group, the condition is most prevalent post 30 years of age. Furthermore, the disease aggressiveness escalates with age. Women are more susceptible to the disease than men.
Key suggestions from the report:
- Thyroid cancer is a relatively rare, accounting for 1 in 100 cases, in U.S
- The condition affects women and men at 3:1 ratio
- Papillary carcinoma accounts for nearly 80.0% of all cases
- Imaging techniques, such as MRI, CT & PET scan, are the preferred tools for disease staging
- Diagnostic tests at the molecular and genetic level are the prime growth drivers
- In patients younger than 50 years, the cure rate for papillary and follicular carcinomas is nearly 98.0% – if treated appropriately
- Asia Pacific is positioned to demonstrate the fastest regional growth.
Read 100 page research report with ToC on “Thyroid Cancer Diagnostics Market Size, Share & Trends Analysis Report By Technique (Blood Test, Imaging, Biopsy), By Type (Papillary Carcinoma, Follicular Carcinoma), By End Use, By Region, And Segment Forecasts, 2020 – 2027” at: https://www.grandviewresearch.com/industry-analysis/thyroid-cancer-diagnostics-market
Lack of exact signs and symptoms during the initial stages presents a challenge for early disease diagnosis. Advanced stages of the diseases are indicated by common symptoms, such as a lump in the neck, hoarseness of voice, pain in throat and neck, difficulty swallowing, and swollen lymph nodes in the neck. Although the exact causative factor remains unknown, thyroid cancer is largely associated with genetic mutations.
The market has undergone a paradigm shift over the last few years, driven by the introduction of biomarkers and launch of improved products for diagnosis. However, disease progression and recurrence remain high, especially among older patients. Strong unmet needs present a key opportunity to develop breakthrough first-in-class diagnosis of the disease.
Grand View Research has segmented the global thyroid cancer diagnostics market based on type, technique, end use, and region:
- Thyroid Cancer Diagnostics Type Outlook (Revenue, USD Million, 2016 – 2027)
- Papillary Carcinoma
- Follicular Carcinoma
- Thyroid Cancer Diagnostics Technique Outlook (Revenue, USD Million, 2016 – 2027)
- Blood Tests
- Thyroid Cancer Diagnostics End-use Outlook (Revenue, USD Million, 2016 – 2027)
- Hospital Laboratories
- Cancer Diagnostic Centers
- Research Institutes
- Thyroid Cancer Diagnostics Regional Outlook (Revenue, USD Million, 2016 – 2027)
- North America
- Asia Pacific
- South Korea
- Latin America
- Middle East & Africa
- South Africa
- Saudi Arabia
- List of Key Players of Thyroid Cancer Diagnostics Market:
- 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.
Find more research reports on Clinical Diagnostics Industry, by Grand View Research:
- Blood Collection Market – Increasing prevalence of infectious diseases, mounting number of accident & trauma cases, and non-communicable diseases are the major factors contributing towards the market growth.
- Cholesterol Testing Products And Services Market – Growing prevalence of high cholesterol levels is expected to drive the growth. Increasing awareness regarding routine screening of cholesterol level is another significant growth driver.
- Blood Group Typing Market – rising number of blood transfusions due to number of road accidents, and increasing demand for blood and related products are some of the factors expected to facilitate the growth.
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About Grand View Research
Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.
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