Thyroid Cancer Diagnostics - Global Market Outlook (2019-2027)
According to Stratistics MRC, the Global Thyroid Cancer Diagnostics market is accounted for $2.40 billion in 2019 and is expected to reach $4.31 billion by 2027 growing at a CAGR of 7.6% during the forecast period. Some of the key factors propelling the market growth include rising prevalence of thyroid cancer, increase in the number of initiatives by governments, rise in funding for research, and increasing emphasis on early diagnosis and treatment. However, lack of knowledge about exact causative factors and late diagnosis of the disease are some key factors restraining the growth of the market. Moreover, rising healthcare expenditure and increasing technological advancements are creating growth opportunities for the market.
Thyroid cancer is a type of cancer that occurs when abnormal cell begin to grow in thyroid gland, responsible for the excretion of thyroid hormones. It is asymptotic in early stage and progresses with formation of lump in thyroid gland. If diagnosed in early stage it can be treated easily.
By technique, the imaging segment is anticipated to grow at the significant rate during the forecast period. Imaging tests remain the mainstay in thyroid cancer for purposes of disease diagnostics and cancer staging. Neck ultrasound or CT/MRI scans are the most recommended diagnostic tools for disease identification. Other imaging tests such as chest X-ray, bone scans, PET scan, and radioiodine scans are used for staging and identifying metastasis. Technological advancements and relatively high cost are key revenue generators for this segment in the thyroid cancer diagnostics market.
On the basis of geography, the market in Asia Pacific is expected to grow at the significant rate during the forecast period, owing to factors such as the increasing prevalence of thyroid cancer, a rise in consumer awareness improvement in healthcare infrastructure, and increase in disposable income. The market for thyroid cancer diagnostics in emerging countries such as China, India, and South Korea is expected to witness rapid growth during the forecast period.
Some of the key players in Thyroid Cancer Diagnostics Market include Bio-Rad Laboratories, Inc, General Electric, Koninklijke Philips N.V., Abbott, F.Hoffmann-La Roche Ltd., Agilent Technologies, Inc., Illumina, Inc., Thermo Fisher Scientific, Inc., Siemens Healthcare GmbH, and Toshiba Corporation.
• Blood Tests
• Radioiodine Scan
• Magnetic Resonance Imaging (MRI) Scan
• Positron Emission Tomography (PET) Scan
• Computed Tomography (CT) Scan
• Molecular Testing
• Follicular Carcinoma
• Papillary Carcinoma
End Users Covered:
• Research & Academic Institutes
• Hospitals & Ambulatory Surgery Centers
• Cancer Diagnostic Centers
• Independent Diagnostic Labs
• Diagnostic Imaging Centers
• North America
o Rest of Europe
• Asia Pacific
o New Zealand
o Rest of Asia Pacific
• South America
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o South Africa
o Rest of Middle East & Africa
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