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Allied Market Research

Thyroid cancer Market: Global Opportunity Analysis and Industry Forecast 2020–2027

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Aug 2021 | 169 Views
   
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COVID-19

Pandemic disrupted the entire world and affected many industries.

Get detailed COVID-19 impact analysis on the Thyroid cancer Market: Global Opportunity Analysis and Industry Forecast 2020–2027

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Thyroids are situated in the lower front of the neck. The structure of the thyroid is like a butterfly. Thyroids work as a control metabolism that releases hormones all over the body. These hormones play a very important role in the functioning of the body. Thyroid cancer evolves when the cells go through mutation. When the abnormal cells increase in the thyroid, it can lead to a tumor in the thyroid. The treatment of thyroid cancer is possible if it is diagnosed at an early stage.

Thyroid cancer Market

Researchers have differentiated thyroid cancer in four different types:

  • Papillary thyroid cancer
  • Follicular thyroid cancer
  • Medullary cancer
  • Anaplastic thyroid cancer

The symptoms observed in the earlier stages of thyroid cancer are:

  • Issues in swallowing
  • Pain in the throat and neck
  • Cough
  • Neck lump
  • Changes in the voice or hoarseness

Market scope and structure analysis:

Report Metric

Details

Market size available for years

2019–2027

Base year considered

2019

Forecast period

2020–2027

Forecast units

Value (USD)

Segments covered

Type, Technique, End User, and Region

Regions covered

North America (U.S. and Canada), Europe (Germany, UK, France, and the Rest of Europe), Asia-Pacific (China, Japan, India, and the Rest of Asia Pacific), Latin America (Brazil, Mexico, and the Rest of LATAM) and The Middle East and Africa.

Companies covered

Major players analyzed include Abbott, F. Hoffmann-La Roche Ltd., Thermo Fisher Scientific, Inc., Siemens Healthcare GmbH, Bio-Rad Laboratories, Inc, General Electric, Koninklijke Philips N.V., Toshiba Corporation, Agilent Technologies, Inc., Illumina, Inc.

 

COVID-19 scenario analysis:

At the early phase of the COVID-19 pandemic, there was no availability of specific diagnostic tests to detect the disease in patients. Alternative diagnostic tests were used initially but were not much effective. This unavailability of specific COVID-19 diagnostic tests presented lucrative opportunities for diagnostic manufacturers to introduce their COVID-19 diagnostic kits. Many leading players as well as some start-ups from various countries utilized this opportunity and introduced COVID-19 diagnostics kits into local as well as global markets. These players achieved edge over other diagnostics players capitalizing the opportunity from demand for COVID-19 diagnostic tests, which, in turn, helps them in maintaining their revenues in such a crisis.

Owing to such factors, COVID 19 is expected to have a significant impact on the Thyroid cancer market.

Top impacting factors: Market Scenario Analysis, Trends, Drivers and Impact Analysis:

There has been a significant rise in the frequency of thyroid cancer; growing prominence after the early diagnosis which later helps in the treatment of thyroid cancer are the factors propelling the growth of the thyroid market. Although thyroid cancer is a very uncommon cancer, there has been a significant rise in the incidences reported due to the advances and the upgrades in the technology in the plastic few years.

There has also been a rise in the initiatives taken by the government and rise in the investment and funding for the R & D activities which are also propelling the growth of the thyroid cancer market.

Along with this, there is also a rise in the expenditure of healthcare rising, and upgrades in the technology are affecting the market growth of thyroid cancer positively.

On the other hand, there has also been observed that there is a knowledge scarcity in regards to the causative factors and diagnosis at the later stage are the challenges faced in the thyroid cancer market.

New product launches and acquisitions to flourish the market:

On April 1st, 2020, Veracyte, Inc. introduced a new product Afirma Xpression Atlas (XA) test which can help in the detection of rare and new gene alterations by RNA sequencing. This product can be used for the thyroid cancer diagnostics space.

Surge in usage in hospitals applications:

Hospital Laboratories, Research Institutes, Cancer Diagnostic Centers, and Others are the major consumers of the thyroid cancer market. Amongst them, the hospital laboratories are the biggest end users of the thyroid cancer market. This is due to the rise in the number of patients increasing for diagnosis of cancer, investments increasing in the healthcare facilities in the developed as well as the developing countries, and rising awareness in the consumers.

Along with this, research institutes are also rising in recent years, due to the global rise in the funding rise for research on cancer.

   Key segments covered:

Segments

Sub-segments

Type

  • Papillary Carcinoma
  • Follicular Carcinoma
  • Others

Technique

  • Blood Tests
  • Imaging
  • Biopsy
  • Others

End User

  • Hospital Laboratories
  • Cancer Diagnostic Centers
  • Research Institutes
  • Others

Regions

  • North America
  • Europe
  • Asia-Pacific
  • Latin America
  • The Middle East and Africa

 

Key benefits of the report:

  • This study presents the analytical depiction of the global Thyroid cancer industry along with the current trends and future estimations to determine the imminent investment pockets.
  • The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the global Thyroid cancer market share.
  • The current market is quantitatively analyzed from 2020 to 2027 to highlight the global Thyroid cancer market growth scenario.
  • Porter’s five forces analysis illustrates the potency of buyers & suppliers in the Thyroid cancer market.
  • The report provides a detailed global Thyroid cancer market analysis based on competitive intensity and how the competition will take shape in coming years.

Questions answered in the Thyroid cancer Market research report:

  • What are the leading market players active in the Thyroid cancer market?
  • What the current trends will influence the market in the next few years?
  • What are the driving factors, restraints, and opportunities in the Thyroid cancer market?
  • What are the projections for the future that would help in taking further strategic steps?
 
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