(MENAFN- GlobeNewsWire - Nasdaq) The market is characterized by trends such as personalized medicine, targeted therapies, and combination treatments. Key players include Eli Lilly, Bristol Myers Squibb, and AstraZeneca. As North America leads, the Middle East is predicted to see the fastest growth.Dublin, April 16, 2025 (GLOBE NEWSWIRE) -- The "Thyroid Cancer Drugs Market Report 2025" has been added to ResearchAndMarkets.com's offering.
The thyroid cancer drugs market has demonstrated significant growth and is projected to continue its expansion from $1.17 billion in 2024 to $1.35 billion in 2025, registering a CAGR of 15.5%. Further growth is anticipated, with the market estimated to reach $2.2 billion by 2029 at a CAGR of 13%. This growth is fueled by the rising incidence of thyroid cancer, particularly among women, advancements in medical research, and increasing healthcare expenditure globally.
In 2022, the American Cancer Society reported 43,800 estimated new cases of thyroid cancer in the United States, with women holding a significant majority. Rising healthcare spending is a key driver of market growth, as evidenced by the Canadian Institute for Health Information's report of a 0.8% increase in healthcare spending, reaching $331 billion in 2022.
Significant trends shaping the future of the market include the shift towards personalized medicine, the adoption of targeted therapies, and the integration of telemedicine and remote monitoring. The approval of combination drugs like dabrafenib and trametinib for anaplastic thyroid cancer exemplifies the progress in using multifaceted treatment approaches to combat resistance and enhance efficacy.
Eli Lilly and Company received FDA approval for selpercatinib (Retevmo) in September 2024, a notable development for treating advanced or metastatic medullary thyroid cancer (MTC) with RET mutations. Similarly, Bristol Myers Squibb's acquisition of Turning Point Therapeutics aimed at bolstering its precision medicine portfolio highlights the strategic maneuvers within the industry.
The thyroid cancer drugs market encompasses various therapeutic categories, including radioiodine ablation, TSH suppression, chemotherapy, and targeted multikinase therapies. Leading pharmaceutical companies such as Mylan Pharmaceuticals Inc., AstraZeneca PLC, GlaxoSmithKline PLC, Novartis AG, Pfizer Inc., and many others are actively involved in developing innovative treatment options.
Regionally, North America dominated the market in 2024, with the Middle East anticipated to witness the fastest growth during the forecast period. The market landscape spans across numerous geographies, including Asia-Pacific, Western and Eastern Europe, South America, and Africa.
This comprehensive analysis of the thyroid cancer drugs market provides insights into market size, trends, and strategic developments by key players. The report underscores the dynamic evolution of therapeutic approaches and fiscal investments driving the market's robust growth trajectory.
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Report Scope
The report answers critical questions regarding the largest and fastest-growing markets, the market's interaction with the broader economy, and future shaping forces. It details market characteristics, size, segmentation, regional and country analysis, competitive landscapes, and the trends and strategies guiding this market's evolution. Key market features and projections display historic and expected growth influenced by current global challenges, including geopolitical tensions and post-COVID economic factors. The report segments the market by drug type, end-users, and offers insights into regional developments and competitive landscapes.
Markets Covered:
By Drug Type: Ipilimumab, Cabozantinib-S-Malate, Caprelsa (Vandetanib), Doxorubicin Hydrochloride, Lenvatinib Mesylate, Nivolumab, Vandetanib, other drug types. By Type: Radioiodine Ablation, TSH Suppression, Chemotherapy, Targeted Multikinase Therapy, other types. By End Users: Hospitals, Oncology Clinics, Research Organizations, other end-users.
Subsegments:
Ipilimumab: Monotherapy and Combination Therapy Cabozantinib-S-Malate: Single-Agent and Combination Therapy Caprelsa (Vandetanib): Vandetanib for MTC and Combination Therapy Doxorubicin Hydrochloride: For Chemotherapy and Liposomal Doxorubicin Lenvatinib Mesylate: For DTC and Combination Therapy Nivolumab: Monotherapy and Combination Therapy Vandetanib: Single-Agent and Combination Therapy Other Drugs: Sorafenib, Everolimus, Pembrolizumab
Key Companies Profiled: Mylan Pharmaceuticals Inc., Alara Pharmaceutical Corporation, Baxter International Inc., Abbott Laboratories, APP Pharmaceuticals LLC.
Countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
Regions: Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Time Series: Provides five-year historical and ten-year forecast data.
Data: Market size ratios and growth, GDP ratios, expenditure per capita.
Data Segmentation: Historical and forecast market data by country and region, market shares of competitors, segmented data.
Key Attributes
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