Thyroid Cancer Diagnostics Market Poised for Growth, Expected to Reach $3.7 Billion by 2028

The Business Research Company has updated its global market reports with latest data for 2024 and projections up to 2033

LONDON, GREATER LONDON , UK, July 3, 2024 /EINPresswire.com/ -- The thyroid cancer diagnostics market has seen robust growth in recent years, with the market size expanding from $2.79 billion in 2023 to $2.97 billion in 2024, marking a compound annual growth rate (CAGR) of 6.2%. It will grow to $3.7 billion in 2028 at a compound annual growth rate (CAGR) of 5.7%. Factors driving this growth include the increasing prevalence of thyroid cancer, aging population, rising awareness and early detection, government initiatives, and improved healthcare infrastructure.

Rising Prevalence of Thyroid Cancer Driving Market Growth
Thyroid cancer diagnostics play a crucial role in early detection and treatment outcomes. The increasing prevalence of thyroid cancer, particularly in regions like North America and Asia-Pacific, is a significant driver for market expansion. For example, according to the American Cancer Society, approximately 43,720 new cases of thyroid cancer are anticipated in the United States in 2023, highlighting the pressing need for effective diagnostic solutions.

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Thyroid Cancer Diagnostics Market Key Players and Market Trends
Major companies such as Pfizer Inc., General Electric, and F. Hoffmann-La Roche AG are actively involved in the thyroid cancer diagnostics market, focusing on innovative products like rearranged during transfection (RET) inhibitors. These advancements aim to cater to a larger customer base and enhance revenue streams. For instance, CStone Pharmaceuticals' approval of GAVRETO in China for managing RET-mutant medullary thyroid cancer underscores the market's focus on targeted therapies.

Thyroid Cancer Diagnostics Market Segments
The thyroid cancer diagnostics market is segmented based on:
• Technique Type: Imaging Test, Blood Test, Biopsy, Other Test Type
• Disease Type: Papillary Carcinoma, Follicular Carcinoma, Other Diseases
• End-User: Hospital Laboratories, Cancer Diagnostic Centers, Research Institutes, Other End-Users

Geographical Insights: Asia-Pacific Leading Growth
North America led the thyroid cancer diagnostics market in 2023, driven by advanced healthcare infrastructure and high awareness levels. However, Asia-Pacific is expected to witness the fastest growth during the forecast period, supported by increasing healthcare spending and rising incidence of thyroid cancer in countries like China and India.

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Thyroid Cancer Diagnostics Global Market Report 2024 from TBRC covers the following information:
• Market size data for the forecast period: Historical and Future
• Market analysis by region: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
• Market analysis by countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

Trends, opportunities, strategies and so much more.
The Thyroid Cancer Diagnostics Global Market Report 2024 by The Business Research Company is the most comprehensive report that provides insights on thyroid cancer diagnostics market size, thyroid cancer diagnostics market drivers and trends, thyroid cancer diagnostics market major players, competitors' revenues, market positioning, and market growth across geographies. The thyroid cancer diagnostics market report helps you gain in-depth insights on opportunities and strategies. Companies can leverage the data in the report and tap into segments with the highest growth potential.

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