Papillary Thyroid Carcinoma Treatment Market is Segmented By Treatment (Surgery, Iodine therapy, Thyroxin treatment, External Radiotherapy, Chemotherapy, Other), By End-User(Hospital, Ambulatory Centers, Retail Pharmacies, Hospital Pharmacies, Oncology Centers), and By Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) â Share, Size, Outlook, and Opportunity Analysis, 2023-2030
Papillary Thyroid Carcinoma Treatment Market is expected to reach at a CAGR 4.7% during the forecast period (2023-2030).
Papillary carcinoma (PTC) is the type of thyroid cancer formed due to exposure to radiation. It appears as an irregular solid or cystic mass or nodule in normal thyroid parenchyma. The signs and symptoms of papillary thyroid carcinoma include a lump or nodule in the neck, trouble in breathing or swallowing , pain when swallowing , and/or hoarseness in voice.
Europe, North America and Asia-Pacific Automotive Liquid Condenser Market - Strategic Insights
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Metrics |
Details |
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Market CAGR |
4.7% |
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Segments Covered |
By Treatment, By End-User, and By Region |
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Report Insights Covered |
Competitive Landscape Analysis, Company Profile Analysis, Market Size, Share, Growth, Demand, Recent Developments, Mergers and acquisitions, New Product Launches, Growth Strategies, Revenue Analysis, and Other key insights. |
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Fastest Growing Region |
Asia Pacific |
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Largest Market Share |
North America |
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Papillary Thyroid Carcinoma Treatment Market Dynamics
The global papillary thyroid carcinoma treatment market growth is driven by the increasing instances of papillary thyroid carcinoma cases across the globe, increase in awareness of treatment option for papillary carcinoma cases,favorable reimbursement polices and increase in government funding in healthcare sectors.
The increase in prevalance of papillary thyroid carcinoma cases in the market will drive the market growth
The rise in the prevalence of thyroid disorders such as hypothyroidism and hyperthyroidism is driving the global papillary thyroid carcinoma treatment market. The rise in the number of patients suffering from autoimmune diseases (which are a major risk factor for thyroid disorders) such as Grave's disease is thought to be a major factor in the consistent rise in the incidence of thyroid disorders, including cancer.
Thyroid disorders, according to organisations such as the World Health Organization (WHO) and the American Association of Clinical Endocrinologists (AACE), are on the rise, necessitating the development of novel and effective thyroid therapeutics.
Furthermore, the prevalence of thyroid cancer is increasing at a steady rate in developed countries. This contributes to the growth of the global papillary thyroid carcinoma treatment market.
High cost of diagnosis is likely to hamper the market growth
High cost of treatment is the major drawback which is likely to hamper the market . Majority of under developed and developing countries are facing this problem due to less share from the government sector.
COVID-19 Impact Analysis
The COVID-19 had a negative impact on the worldwide thyroid cancer diagnostics market in 2020, as the number of diagnosed patients decreased. Due to limited access to health care, the focus on COVID-19 resulted in delays in cancer screening, diagnosis, and treatment. The drop in cancer diagnoses will very certainly be followed by a rise in late-stage diagnoses and cancer deaths that could have been avoided. During the pandemic, the American Cancer Society and other groups advocated routine cancer screenings and other elective medical procedures to detect thyroid cancer early. During the pandemic, however, lockdown and travel prohibitions made it difficult for many to acquire cancer diagnoses. Furthermore, due to the second wave of the COVID-19 and the emergence of deadlier variations of the COVID-19, the market recovery was interrupted in the first and second quarters of 2021. Furthermore, the threat of the third wave of the COVID-19 in the fourth quarter of 2021, as well as an increase in cases of delta-variants, are likely to stymie the global thyroid cancer diagnostics market's recovery. Abbott, F.Hoffmann-La Roche Ltd., Thermo Fisher Scientific Inc., Siemens Healthcare GmbH, Bio-Rad Laboratories Inc., Agilent Technologies, Inc., Illumina, Inc., Hologic, Inc., Leica Biosystems Nussloch GmbH, Fujifilm Holding Corporation, Merck KGaA, BeckmanCoulters inc., Randox Laboratories Ltd., and other prominent players are the leading players in the global thyroid cancer diagnostics Companies in the thyroid cancer diagnostics market are always working to increase customer awareness, launch new breakthroughs, improve existing technology, and develop new methods and techniques in order to expand their market share.
Papillary Thyroid Carcinoma Treatment Market Segment Analysis
The surgery segment is expected to grow at the fastest CAGR during the forecast period (2021-2028)
Treatment for papillary thyroid carcinoma is frequently determined by the patient's age and cancer stage.
Surgery, radiation therapy, thyroid hormone therapy, chemotherapy, and other treatments can be found in the global papillary thyroid cancer treatment market.
The most common treatment option for papillary thyroid malignancies is surgery. Lobectomy, thyroidectomy, and lymph node removal are the three types of surgery.
The thyroid gland is responsible for absorbing the majority of iodine in the body. As a result, thyroid cancer can be treated with radioactive iodine (RAI, also known as I-131). When radioactive iodine is taken into the thyroid gland, it kills cancer cells while leaving the rest of the body cells unharmed.
Thyroid hormone therapy replaces thyroid hormones that the body no longer produces after a thyroidectomy. By keeping the amounts of TSH secreted by the pituitary low, this aids in maintaining normal metabolism and may reduce the likelihood of cancer recurrence.
Papillary Thyroid Carcinoma Treatment Market Geographical Analysis
North America region holds the largest market share of global papillary thyroid carcinoma treatment market
During the forecast period, North America is expected to dominate the global market. This is due to the widespread use of advanced treatment methods and the high prevalence of papillary thyroid carcinoma. North America is the most promising market for papillary thyroid carcinoma treatment due to favourable reimbursement landscape, aggressive awareness programmes, improved diagnostic measures, and the presence of major advanced therapy brands..
Papillary Thyroid Carcinoma Treatment Market Competitive Landscape
The papillary thyroid carcinoma treatment market is highly competitive with presence of local as well as global companies. Some of the key players which are contributing to the growth of the market include Eli Lilly and Company, Teva Pharmaceutical Industries Ltd, Pfizer.Inc, Varian Medical System ,Inc ,Siemens Healthineers AG, Accuary Incorporated , Koninklijke Philips N.V. Elekta AB, GE Healthcare.
The major players are adopting several growth strategies such as product launches, acquisitions, and collaborations, which are contributing to the growth of the papillary thyroid carcinoma treatment market globally. For instance in August 2021, HalioDx completed the USD 304 million acquisition of Veracyte, Inc. to strengthen its presence in international markets and expand its scientific and diagnostic capabilities into eight of the ten most common cancers in the United States. Veracyte, a global genomic diagnostics company, provides tests for lung, prostate, and heart cancers, as well as thyroid cancer, bladder cancer, and idiopathic pulmonary fibrosis diagnosis.
Siemens Healthineers AG
Overview: Siemens Healthineers AG is a Germany-based company that supplies technology to the healthcare industry. The Company offers a wide range of products and services in the fields of diagnostic and therapeutic imaging, laboratory and point of care diagnostics, and molecular medicine.
Product Portfolio:
Biograph Vision Quadra: It is a type of scanner which dynamically see vertex to thighs in a single position and deepen the dimension of the investigation.
Frequently Asked Questions
What is the Projected CAGR value of the Papillary Thyroid Carcinoma Treatment Market?
Papillary Thyroid Carcinoma Treatment Market is expected to grow at a CAGR of 4.7% during the forecasting period 2022-2029.
Which region controlled the global market during 2022-2029?
North America region Controls the Papillary Thyroid Carcinoma Treatment Market during 2022-2029
Which is the fastest growing region in the Papillary Thyroid Carcinoma Treatment Market?
Among all regions, Asia Pacific is the fastest growing market share during the forecast period