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Rising Thyroid Cancer Cases, Particularly In Women, Propel Market Growth Driver: A Major Catalyst in the Evolution of the Thyroid Cancer Drugs Market in 2025
Thyroid Cancer Drugs Global Market Report 2025
The market size of drugs for thyroid cancer has seen a swift expansion in the past few years. An increase from $1.17 billion in 2024 to $1.35 billion in 2025 is expected, reflecting a compound annual growth rate (CAGR) of 15.5%. Factors such as a rise in thyroid cancer cases, advancements in medical research, a supportive regulatory landscape, and heightened healthcare spending have contributed to the growth experienced during the historic period.
The market size for thyroid cancer medications is projected to witness substantial expansion in the upcoming years, reaching a total of $2.2 billion by 2029, with a CAGR of 13.0%. The anticipated growth for the forecast period is a result of factors such as the escalating incidence and elderly population, improvements in precision medicine, development in healthcare infrastructure, increasing awareness, and early diagnosis. Key trends that will prominently feature in the forecast period encompass personalized medicine, targeted treatments and immunotherapies, clinical trials and drug development pipelines, combination therapies, treatments driven by biomarkers, and the rise of telemedicine and remote patient monitoring.
What Are the Key Drivers Behind the Growth of the Thyroid Cancer Drugs Market?
The surge in instances of thyroid cancer, particularly among women, is propelling the thyroid cancer drugs industry. The American Cancer Society, a US-based organization, reported approximately 43,800 new instances of thyroid cancer in the United States in 2022. These included 31,940 cases in women and 11,860 cases in men, with about 2,230 fatalities resulting from thyroid cancer. Out of these fatalities, 1,070 were men and 1,160 were women. Consequently, the rise in thyroid cancer instances, predominantly amongst women, is fueling the growth of the thyroid cancer market.
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Who Are the Major Industry Players Fueling Thyroid Cancer Drugs Market Expansion?
Major companies operating in the thyroid cancer drugs market include Mylan Pharmaceuticals Inc., Alara Pharmaceutical Corporation, Baxter International Inc., Abbott Laboratories, APP Pharmaceuticals LLC, AstraZeneca PLC, GlaxoSmithKline plc, Exelixis Inc., Novartis AG, Pfizer Inc., Biovista Inc., Vascular Biogenics Ltd., Azaya Therapeutics Inc., Bionomics Limited, Bayer AG, Eisai Co. Ltd., Bio-Path Holdings Inc., Takeda Pharmaceutical Company Limited, AbbVie Inc., Bristol-Myers Squibb Company, Celgene Corporation (a subsidiary of Bristol-Myers Squibb Company), Eli Lilly and Company, F. Hoffmann-La Roche Ltd, Hikma Pharmaceuticals PLC, Ipsen Biopharmaceuticals Inc., Johnson & Johnson, Kyowa Kirin Co. Ltd., Merck & Co. Inc., Sanofi S.A., Amgen Inc., Astellas Pharma Inc., Boehringer Ingelheim International GmbH, Daiichi Sankyo Company Limited, Gilead Sciences Inc., Grifols S.A., Jazz Pharmaceuticals plc, Mallinckrodt Pharmaceuticals (a subsidiary of Specialty Generics Holdings), Medtronic plc, Mitsubishi Tanabe Pharma Corporation, Otsuka Pharmaceutical Co. Ltd.
Which Key Developments Are Influencing the Thyroid Cancer Drugs Market?
The utilization of combination drugs in thyroid cancer treatment is on the rise due to their increased effectiveness and capability to hinder cancer progression. Consisting of two or more active pharmaceutical ingredients (APIs) in a singular dosage form, these medications curtail the possibility of drug resistance and restrict cancer cells' growth. As a case in point, the FDA has greenlit the use of a combination of dabrafenib (Tafinlar), a BRAF inhibitor, and trametinib (Mekinist), a MEK inhibitor, for treating anaplastic thyroid cancer.
How Is the Segmentation of the Thyroid Cancer Drugs Market Defined?
The thyroid cancer drugs market covered in this report is segmented -
1) By Drug Type: Ipilimumab, Cabozantinib-S-Malate, Caprelsa (Vandetanib), Doxorubicin Hydrochloride, Lenvatinib Mesylate, Nivolumab, Vandetanib, Other Drug Types
2) By Type: Radioiodine Ablation, Thyroid Stimulating Hormone (THS) Suppression, Chemotherapy, Targeted Multikinase Therapy, Other Types
3) By End Users: Hospitals, Oncology Clinics, Research Organizations, Other End-Users
Subsegments:
1) By Ipilimumab: Monotherapy Ipilimumab, Combination Therapy With Ipilimumab
2) By Cabozantinib-S-Malate: Single-Agent Cabozantinib, Combination Therapy With Cabozantinib
3) By Caprelsa (Vandetanib): Vandetanib For Medullary Thyroid Cancer (MTC), Combination Therapy With Vandetanib
4) By Doxorubicin Hydrochloride: Doxorubicin For Chemotherapy, Liposomal Doxorubicin
5) By Lenvatinib Mesylate: Lenvatinib For Differentiated Thyroid Cancer (DTC), Combination Therapy With Lenvatinib
6) By Nivolumab: Monotherapy Nivolumab, Combination Therapy With Nivolumab
7) By Vandetanib: Single-Agent Vandetanib, Combination Therapy With Vandetanib
8) By Other Drug Types: Sorafenib, Everolimus, Pembrolizumab
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What Is the Leading Region in the Thyroid Cancer Drugs Market?
North America was the largest region in the thyroid cancer drugs market in 20232. Middle East is expected to be the fastest-growing region in the thyroid cancer drugs market during the forecast period. The regions covered in the thyroid cancer drugs market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
What Is Covered In The Thyroid Cancer Drugs Global Market Report?
- Market Size Analysis: Analyze the Thyroid Cancer Drugs Market size by key regions, countries, product types, and applications.
- Market Segmentation Analysis: Identify various subsegments within the Thyroid Cancer Drugs Market for effective categorization.
- Key Player Focus: Focus on key players to define their market value, share, and competitive landscape.
- Growth Trends Analysis: Examine individual growth trends and prospects in the Market.
- Market Contribution: Evaluate contributions of different segments to the overall Thyroid Cancer Drugs Market growth.
- Growth Drivers: Detail key factors influencing market growth, including opportunities and drivers.
- Industry Challenges: Analyze challenges and risks affecting the Thyroid Cancer Drugs Market.
- Competitive Developments: Analyze competitive developments, such as expansions, agreements, and new product launches in the market.
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