Global Thyroid Cancer Diagnostics Market report has a chapter on the global market and all its associated companies with their profiles, which provides valuable data related to their outlook in terms of finances, product portfolios, investment plans, and marketing and business strategies. The report puts light on the change in the market which is taking place due to the moves of key players and brands such as product launches, joint ventures, mergers and acquisitions that in turn modifies the view of the global face of HELATH industry. Analysis and discussion of important industry trends, market size, market share estimates are also covered in the first class Global Thyroid Cancer Diagnostics Market report.
Increasing global awareness about thyroid cancer has enhanced the market demand. The rising healthcare expenditure for better health services also contributes to the market’s growth. The major market players focus on various service launches and approvals during this crucial period. In addition, the increase in improved diagnostic processes and techniques also contributes to the rising demand for thyroid cancer diagnostics testing.
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Market Overview
Thyroid cancer is a type of cancer that starts in the thyroid gland. Cancer starts when cells begin to grow out of control. The thyroid gland makes hormones that help regulate your metabolism, heart rate, blood pressure, and body temperature. The thyroid gland is in the front part of the neck, below the thyroid cartilage (Adam’s apple). In most people, the thyroid cannot be seen or felt. It is shaped such as a butterfly, with two lobes — the right lobe and the left lobe — joined by a narrow piece of the gland called the isthmus.
DRIVERS
RISING INCIDENCE AND PREVALENCE OF THYROID NODULES & CANCER
A thyroid nodule is an unusual growth (lump) of thyroid cells in the thyroid gland. Sometimes the normal thyroid soft tissue started to grow, causing these nodules to form. Nodule incidence increases with age and mainly in women, mainly in those with iodine deficiency and after radiation exposure. Although the further complication of these nodules is thyroid cancer, the chances of converting thyroid nodules to thyroid cancer are low. According to an article published in NCBI named “Risk of Malignancy in Thyroid Nodules 4 cm or Larger” in 2017, cancer occurrence after nodules is found in less than 5% of the total nodules cases. Moreover, the thyroid nodules run in the family history and in people whose iodine intake is low.
RISING THYROID CANCER DIAGNOSTIC TESTS
Thyroid ultrasound is a sound wave picture of the thyroid gland taken by a hand-held instrument and translated to a 2-dimensional picture on a monitor. It is used in the diagnosis of tumors, cysts, or goiters of the thyroid and is a painless, no-risk procedure. These tests are used to evaluate structural anomalies, whereas blood tests measuring TSH, T4, and T3 levels are used to examine functional variables. Fine needle biopsy is used in suspicious cases to determine whether a tumor is benign or malignant. Furthermore, the introduction of molecular testing and the genetic prognosis fuel the diagnostic landscape in this market for thyroid cancer diagnostics.
RISING AWARENESS TOWARDS THYROID CANCER
Growing thyroid cancer awareness has led to an increased demand for timely cancer detection, leading to market growth.
Thyroid cancer is one of the major causes of rising mortality rates among U.S. populations worldwide, fueling the market growth over the next five years. Exposure to radiation and a family history of thyroid issues are major risk factors for thyroid cancer. Women are diagnosed with thyroid cancer significantly more than men.
RESTRAINS
HIGH COST OF DIAGNOSTICS PROCEDURE
Cancer diagnostics have become increasingly expensive due to the growing number of thyroid cancer patients and the rising medical device prices. The modern technological devices used in cancer diagnostic is also playing a significant role in the high prices of cancer diagnostics, and high accuracy, in providing a definitive diagnosis for cancer in thyroid nodules. Therefore, the high cost of diagnostics procedures for thyroid cancers is hampering the growth of the market.
The diagnostic products or devices which are used in the detection of cancer are becoming advanced but along with that, the procedure for cancers diagnostics are also costly, which hamper the growth of the thyroid cancer diagnostics market because the devices are used in the process of cancer diagnosis getting more expensive which results to increase in the cost of diagnostics procedure. Thus, the high cost of diagnostics for cancer diagnosis acts as a restraint for the global thyroid cancer diagnostics market.
Fundamental Aim of this Market Report
Some of the major players operating in the global thyroid cancer diagnostics market are Canon Inc., FUJIFILM Holdings Corporation, F. Hoffmann-La Roche Ltd, Quest Diagnostics Incorporated, Illumina, Koninklijke Philips N.V., Thermo Fisher Scientific Inc., Siemens Healthcare GmbH, Abbott, General Electric Company, BD, QIAGEN, DIASORIN S.P.A., Merck KGaA, Hologic, Myriad Genetics Inc., BIOMERIEUX, FONAR Corp., Time Medical Holding., PlexBio., MinFound Medical Systems Co., Ltd, Medonica Co. LTD, Beijing O&D Biotech Co., Ltd., and SternMed GmbH. among others.
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Recent Developments
Thyroid Cancer Diagnostics Market Scope
Product Type
On the basis of product type, the global thyroid cancer diagnostics market is segmented into instruments and consumables & accessories.
Test Type
On the basis of test type, the global thyroid cancer diagnostics market is segmented into imaging test, blood test, biopsy and others.
Cancer Type
On the basis of cancer type, the global thyroid cancer diagnostics market is segmented into papillary carcinoma, follicular carcinoma, and others.
Stages
On the basis of stages, the global thyroid cancer diagnostics market is segmented into stage I, stage II, stage III and stage IV.
Age Group
On the basis of age group, the global thyroid cancer diagnostics market is segmented into 30-65, 65 and above, 21-29, and below 21.
End User
On the basis of end user, the global thyroid cancer diagnostics market is segmented into hospitals, associated labs, independent diagnostic laboratories, diagnostic imaging centers, cancer research institutes, and others.
Distribution Channel
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