Strong Growth Ahead: Thyroid Cancer Diagnostics Market Size To Grow At Arecord 6.2% Cagr By 2029

The Thyroid Cancer Diagnostics Market Report by The Business Research Company delivers a detailed market assessment, covering size projections from 2025 to 2034. This report explores crucial market trends, major drivers and market segmentation by [key segment categories].

What Is the Thyroid Cancer Diagnostics Market Size and Projected Growth Rate?
In the past few years, the market size of thyroid cancer diagnostics has significantly expanded. The projections state a rise from $2.99 billion in 2024 to $3.16 billion in 2025, accounting for a compound annual growth rate (CAGR) of 5.7%. The surge during the historic period can be credited to the growing prevalence of thyroid cancer, an increasing elderly population, heightened awareness and early diagnosis, government involvement and support, along with better healthcare infrastructure.

In the coming years, the thyroid cancer diagnostics market is predicted to experience robust growth. The market is expected to expand to $4.01 billion in 2029, with a compound annual growth rate (CAGR) of 6.2%. Several reasons, which include a rising demand for companion diagnostics, a higher patient preference for personalized medicine, economic prosperity and growth in healthcare expenditures, physician education and training, and regulatory approvals and clearances, will drive the growth over the forecast period. Liquid biopsies, internationalization of diagnostic technologies, evolutions in technology, research and development, artificial intelligence integration, collaborations, and partnerships are the leading trends expected for the projected period.

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What Are the Major Segments in the Thyroid Cancer Diagnostics Market?
The thyroid cancer diagnostics market covered in this report is segmented -

1) By Technique Type: Imaging Test, Blood Test, Biopsy, Other Test Type
2) By Disease Type: Papillary Carcinoma, Follicular Carcinoma, Other Diseases
3) By End-User: Hospital Laboratories, Cancer Diagnostic Centers, Research Institutes, Other End-Users

Subsegments:
1) By Imaging Test: Ultrasound Imaging, Computed Tomography (CT) Scans, Magnetic Resonance Imaging (MRI), Positron Emission Tomography (PET) Scans, Radioactive Iodine Scans
2) By Blood Test: Thyroid Function Tests, Tumor Marker Tests, Genetic Testing For Thyroid Cancer
3) By Biopsy: Fine Needle Aspiration (FNA) Biopsy, Core Needle Biopsy, Surgical Biopsy
4) By Other Test Type: Molecular Diagnostics, Immunohistochemistry Tests, Histopathological Analysis

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What Are The Driving Thyroid Cancer Diagnostics Market Evolution?
The rise in thyroid cancer cases is fueling the expansion of the thyroid cancer diagnostic market. Thyroid cancer occurs in the thyroid gland (a gland situated near the base of the throat responsible for the production of hormones that regulate body temperature, heart rate, blood pressure, and weight). Diagnostic tools for thyroid cancer facilitate early detection, thus enhancing treatment results. Consequently, the rising incidence rate of thyroid cancer escalates the demand within the diagnostic market. For example, a report released by the American Cancer Society, a US-based non-profit organization, in September 2023 projected approximately 43,720 new thyroid cancer cases, with 12,540 in men and 31,180 in women for the year 2023. The anticipated number of fatalities due to thyroid cancer during the same year stands at roughly 2,120, with 970 men and 1,150 women. Hence, the increasing incidence of thyroid cancer is boosting the thyroid cancer diagnostic market.

Which Firms Dominate The Thyroid Cancer Diagnostics Market Segments?
Major companies operating in the thyroid cancer diagnostics market include Pfizer Inc., General Electric, F. Hoffmann-La Roche AG, Bayer AG, Novartis International AG, Sanofi S.A., Bristol-Myers Squibb Company, Thermo Fisher Scientific Inc., Abbott Laboratories, GlaxoSmithKline plc, Eli Lilly and Company, Toshiba Corporation, Merck KGaA, Siemens Healthcare GmbH, FUJIFILM Holdings Corporation, Koninklijke Philips N.V., AstraZeneca plc, Agilent Technologies Inc., Hologic Inc., Genzyme Corporation, Illumina Inc., BioMérieux SA, Bio-Rad Laboratories Inc., Quest Diagnostics Inc., Qiagen N.V., Cepheid, Veracyte Inc., DiaSorin S.p.A., Myriad Genetics Inc.

What Trends Are Expected to Dominate the Thyroid Cancer Diagnostics Market in the Next 5 Years?
Prominent businesses in the thyroid cancer diagnosis market are creating ground-breaking solutions such as RNA sequencing assessments to increase the precision of fusion detection in various solid tumors, including thyroid cancer. RNA sequencing (RNA-Seq) is a highly efficient method that allows to study both the amount and order of RNA in a sample, offering insights into gene expression and the entire transcriptome. For example, Foundation Medicine, Inc., a biotechnology firm based in the United States, revealed in March 2024, the launch of FoundationOne RNA in the U.S. This is an RNA sequencing test based on tissue, created to discover gene fusions related to cancer across 318 genes. This test offers fusion reporting for all solid tumors and could be especially beneficial in identifying fusions in cancers such as non-small cell lung cancer (NSCLC), sarcoma, pancreatic cancer, thyroid cancer, cholangiocarcinoma, and bladder cancer.

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Which Is The Largest Region In The Thyroid Cancer Diagnostics Market?
North America was the largest region in the thyroid cancer diagnostics market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the thyroid cancer diagnostics market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

Frequently Asked Questions:
1. What Is the Market Size and Growth Rate of the Thyroid Cancer Diagnostics Market?
2. What is the CAGR expected in the Thyroid Cancer Diagnostics Market?
3. What Are the Key Innovations Transforming the Thyroid Cancer Diagnostics Industry?
4. Which Region Is Leading the Thyroid Cancer Diagnostics Market?

Why This Report Matters:

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