Thyroid Cancer Drugs Market Expected To Boost The Global Industry Growth By 2026 Estimated By Global Players Biovista, Vascular Biogenics, Azaya Therapeutics, Bionomics, Bayer, Eisai, Bio-Path Holdings, Takeda Pharmaceutical Company, GlaxoSmithKline plc.

In the recent past, increasing number of thyroid cancers were diagnosed at an early stage of the treatment as several new technologies has arrived with drugs. Advanced treatments resulting into long term survival, minimum complications of surgery and improved quality of life in a cost-effective way. The main types of thyroid cancer includes differentiated, medullary, and anaplastic thyroid cancer. Among these, anaplastic thyroid cancer is characterized with an aggressive undifferentiated tumor. Apart from these, the other types of thyroid cancer includes thyroid lymphomas, thyroid sarcomas, parathyroid cancer or other rare thyroid tumors.

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Thyroid Cancer Drugs Market Drivers:

Increasing prevalence of thyroid cancer is expected to drive growth of the thyroid cancer drugs market. For instance, according to National Cancer Institute (NCI), 2013-2015 data findings, around1.2% of men and women are expected to be diagnosed with thyroid cancer at some point during their lifetime, in the U.S. Moreover, according to the NCI 2018 data findings, in 2018, there were an estimated 53,990 new cases of thyroid cancer and an estimated 2,060 people are expected to die due to thyroid cancer, in the U.S. Moreover, according to Cancer Research UK, 2015 data findings, in the U.K. there were 3,528 new cases of thyroid cancer registered in 2015. According to the same source, thyroid cancer accounted to register 1% of all cancer cases in 2015, which includes 27% of thyroid cancer cases in males, and 73% in females, in the U.K. Furthermore, according to Cancer Research UK, the lifetime risk of developing thyroid cancer is around 1 in 480 for men and around 1 in 180 for women, in 2012 in the U.K.

In 2016, according to the American Cancer Society, anaplastic thyroid cancer accounts for 2% of all thyroid cancers, in North America. FDA granted several programs, in order to increase availability of drugs to treat serious diseases. In May 2018, Food and Drug Administration (FDA) approved a combination of two targeted drugs, dabrafenib plus trametinib, to treat patients with anaplastic thyroid cancer. The combination of Tafinlar (dabrafenib) and Mekinist (trametinib) is the first FDA approved treatment for these type of thyroid cancers. Moreover, in 2015, FDA approved Lenvatinib for the treatment of locally recurrent or metastatic, progressive, radioactive iodine-refractory differentiated thyroid cancer. In November 2013, U.S. FDA approved Nexavar (sorafenib) to treat patients with Stage IV thyroid cancer. Moreover, the drug is already present in the market for the treatment of liver and kidney cancer.

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Furthermore, thyroid cancer drug rejection, owing to incompetence of drug in providing efficient output to thyroid cancer patients, is expected to be a major restraining factor for growth of market. For instance, in October 2017, National Institute for Health and Care Excellence (NICE), rejected Bayer’s Nexavar and Eisai’s Lenvima in thyroid cancer, stating that neither of this drugs are cost-effective against thyroid cancer treatment.

Thyroid Cancer Drugs Market - Regional Analysis:

Geographically, thyroid cancer drugs market is segmented into North America, Latin America, Europe, Middle East, Asia Pacific, and Africa. North America holds the dominant position in thyroid cancer drugs market. This is owing to growing prevalence of thyroid cancer in this region. According to National Cancer Institute (NCI) 2018 data findings, in 2015, there were an estimated 765,547 people living with thyroid cancer in the U.S. Moreover, according to the same source, an estimated 53,990 new cases of thyroid cancer are expected to be registered in 2018, representing 3.1% of all new cancer cases, in 2018.

Thyroid Cancer Drugs Market Taxonomy:

By Drug Type:
Ipilimumab, Cabozantinib-S-Malate, Caprelsa (Vandetanib), Doxorubicin Hydrochloride, Cometriq (Cabozantinib-S-Malate), Lenvatinib Mesylate, Nivolumab, Vandetanib, Others

By End Users:
Hospitals, Oncology Clinics, Research Organizations, Others

By Geography:
North America, Latin America, Europe, Asia Pacific, Middle East, Africa

Global Key Players:

Some of the key players operating in thyroid cancer drugs market include
Biovista,Vascular Biogenics,Azaya Therapeutics,Bionomics,Bayer,Eisai,Bio-Path Holdings,Takeda Pharmaceutical Company,GlaxoSmithKline plc,AstraZeneca plc.

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This release was published on openPR.