The papillary thyroid cancer market is projected to have an average-paced CAGR of 4.80% during the forecast period. The current valuation of the market is US$ 2.75 Billion in 2022. The market value of the papillary thyroid cancer market is anticipated to surpass a valuation of US$ 4.39 Billion by the year 2032. A historical market valuation of US$ 2.62 Billion has been recorded in the analysis conducted by Future Market Insights.
| Report Attribute | Details |
|---|---|
| Papillary Thyroid Cancer Market Value (2022) | US$ 2.75 Billion |
| Papillary Thyroid Cancer Market Anticipated Value (2032) | US$ 4.39 Billion |
| Papillary Thyroid Cancer Market Projected Growth Rate (2022 to 2032) | 4.80% |
Papillary thyroid cancer (PTC) also called papillary carcinoma is one of the most common type of thyroid cancer and it is most curable among other cancers. Follicular cancer, medullary cancer, and anaplastic cancer are other types of thyroid cancers.
The prevalence rate of papillary thyroid cancer is 0.5-10 per 100,000 population. Papillary thyroid carcinoma presents as asymptomatic thyroid nodules, increasing the size of nodule in patient is the primary symptom for this disease.
Cough, dyspnea and dysphagia are the severe stage symptoms of papillary thyroid cancer and lump or swelling in the neck parts are the physical symptoms of the papillary thyroid cancer. Age, gender and exposure to radiation affect the risk of papillary thyroid cancer.
Itis more common in women than in men, and often occurs before age 45. People who have been exposed to large amounts of radiation, or who have had radiation therapy for medical problems in the head and neck have a more chance of getting thyroid cancer.
To treat papillary thyroid cancer various methods are available which include surgical procedure, iodine therapy, thyroxin treatment and external radiotherapy. In surgical procedure, surgeon removes affected tissue from the neck.
Iodine therapy is given to the patient post operatively to destroy normal thyroid remnants. External radiotherapy is indicated for the patients with age group 45 years and above.
The growth of thyroid tumor cells are controlled by thyrotropin and is inhibited by thyroxin, inhibition of thyrotropin with thyroxin increase the recurrence of survival rates. The most commonly used drugs in the treatment of papillary thyroid cancer are levothyroxine and radioiodine and antineoplastic agents such as cisplatin, doxorubicin and these drugs are used after the surgery and radiation therapy.
In 2015, According to American Cancer Society (ACS), thyroid cancer accounts 47,230 in women and 15,220 in men in the U.S. and the incidence rate and mortality rate of thyroid cancer is high in women than in men.
Thus, the increasing prevalence and incidence rate of thyroid cancers is expected to drive the overall papillary thyroid cancer. Increasing awareness about the cancer disease, raising government funds and reimbursement policies from Medicare and Medicaid are the key factors which are expected to propel the overall papillary thyroid cancer treatment market.
The cost of the drugs and procedures is one of the major restraint for papillary thyroid cancer treatment market.
Depending on geographic region, papillary thyroid cancer market is segmented into seven key regions: North America, Latin America, Europe, Asia Pacific, and Middle East & Africa. North America is estimated to contribute maximum revenue share in the global market of Papillary Thyroid Cancer followed by Europe.
Asia Pacific regions is expected to grow at a higher growth rate owing to high occurrence of cancer diseases. Middle East & Africa is expected to show a healthy growth rate in the forecast period
Key players of papillary thyroid cancer market are Mylan pharmaceuticals Inc., Baxter International Inc., Alara Pharmaceutical Corporation, Abbott laboratories, Bristol Myers co., Teva parenteral medicines Inc., Jerome Stevens Pharmaceuticals Inc., and App pharmaceuticals llc.
The research report presents a comprehensive assessment of the market and contains thoughtful insights, facts, historical data, and statistically supported and industry-validated market data. It also contains projections using a suitable set of assumptions and methodologies. The research report provides analysis and information according to categories such as market segments, geographies, types, technology, material and applications.
The market is expected to witness an unprecedented surge in the upcoming years owing to the development of novel options for treating papillary thyroid cancer. There is a growth in government funding for the advanced made in the papillary thyroid cancer market.
Furthermore, private organizations and governments across the developing regions are spreading awareness about the diseases, coupled with increased healthcare expenditure, which is expected to reshape the landscape of the papillary thyroid cancer market. With a remarkable rise in research and development activities, along with clinical trials going uphill, it is estimated that favorable opportunities are going to unravel for key market players.
Although the market has healthy growth, it is anticipated that the high cost associated with the treatment and side effects of the drugs and therapies conducted is likely to impede the growth of the market in the forthcoming years.
Due to the existence of numerous international and regional companies, the market for polymer emulsions is very competitive. To strengthen their position in the market, major players are implementing a variety of methods, including treatment portfolio growth and regional development. The key players are adopting various business strategies, such as mergers and acquisitions, to expand their geographic presence and consumer base across the world.
The increasing prevalence of cancer is aiding the growth of reimbursement policies from Medicaid and Medicare. This is further expected to make a significant contribution to the advancement of the market throughout the forecast period. Therefore, the papillary thyroid cancer market is estimated to revamp its market share through 2032.
The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.
Papillary Thyroid Cancer Market has been classified on the basis of treatment and end user.
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Papillary Thyroid Cancer Market
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