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How has the thyrogen market grown over the years?

Significant growth has been seen in the thyrogen market size in the past few years. The market, which is valued at $1,080 million as of 2024, is projected to reach a value of $1,170 million in 2025, representing a potent compound annual growth rate (CAGR) of 8.6%. Factors contributing to this exceptional growth in the historic period include the convenience and cost-effectiveness it presents in the healthcare sector, implementation of telemedicine, rise in the treatment for breast cancer, the growing use of Thyrogen, along with an increase in demand for thyroid cancer treatment.

What Is the forecasted market size and growth rate for the thyrogen market?

In the coming years, the Thyrogen market is predicted to experience substantial growth. It is anticipated to expand to a market value of $1,610 million by 2029, with a Compound Annual Growth Rate (CAGR) of 8.3%. The projected growth during this period can be linked to several factors including the increasing occurrence of thyroid and anaplastic thyroid cancers, a greater emphasis on healthcare centered around the patient, more awareness and identification of thyroid issues, and an overall increase in awareness and education. Key trends expected in this forecast period encompass the progress of diagnostic technology, advancements in treatment technology, the introduction of innovative products, the development of novel oncology drugs, and the advancements in the field of biotechnology.

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What are the major factors driving growth in the thyrogen market?

The escalation in thyroid cancer instances is predicted to spur the advancement of the thyrogen market. Primarily resulting from improved detection through modern imaging and biopsy methods, as well as radiation exposure and environmental shifts, the occurrence of thyroid cancer, a cancer type that begins in the thyroid gland, is on the rise. Thyrogen, used in treating thyroid cancer, stimulates the thyroid gland to detect residual cancer and augment the effectiveness of radioactive iodine therapy. For example, the American Cancer Society, a professional organization based in the US, predicts a rise to approximately 44,020 thyroid cancer cases in January 2024, from 43,720 in 2023, which includes 12,500 in men and 31,520 in women. Additionally, roughly 2,170 deaths from thyroid cancer are expected, consisting of 990 in men and 1,180 in women. Consequently, the climbing rate of thyroid cancer is fueling the expansion of the thyrogen market. Progress in the field of personalized medicine is also expected to spur the growth of the thyrogen market. Personalized medicine offers tailored healthcare based on the unique attributes of every patient, including individual genetic, lifestyle, and environmental factors, leading to more precise healthcare outcomes, improved patient care, and minimized side effects. Thyrogen is increasingly employed in precision medicine for effective diagnostic and therapeutic interventions for differentiated thyroid cancer, particularly in patients with radioiodine-refractory disease. Utilization of thyroid-stimulating hormone receptors for personalized treatment is also being done. For example, in February 2024, as per a report by the Personalized Medicine Coalition, a US-based organization, there was an increase in FDA-approved personalized treatments for rare diseases – from six in 2022 to 16 in 2023. The new approvals in 2023 also include seven cancer drugs and three for other diseases and conditions. Consequently, the rising emphasis on personalized medicine is driving the expansion of the thyrogen market.

What key areas define the segmentation of the global thyrogen Market?

The thyrogenmarket covered in this report is segmented –

1) By Type: Vail; Pre-Filled

2) By Product Type: Thyrogen Powder; Thyrogen Injection

3) By Application: Diagnostic; Therapeutic

4) By End-User: Hospitals; Diagnostic Centers; Specialty Clinics; Other End-Users

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What are the top market players propelling the growth of the thyrogen industry?

Major companies operating in the thyrogen market include Sanofi S.A.

What are the key trends shaping the future of the thyrogen market?

A prominent trend in the thyrogen market is the concentration on innovative applications like utilizing it as a theranostic tool for the diagnosis and treatment of differentiated thyroid cancer. This development allows companies to both broaden their market presence and cater to unaddressed medical necessities within the oncology sector. The use of thyrogen as a theranostic instrument allows for diagnostic imaging and therapeutic applications for differentiated thyroid cancer, more so in patients with radioiodine-resistant disease, by specifically targeting thyroid-stimulating hormone receptors. For instance, the Society of Nuclear Medicine and Molecular Imaging, a professional organization in the US advocating for applications of nuclear medicine and molecular imaging, published research in the Journal of Nuclear Medicine in June 2024. The research highlighted the broadening of its clinical applications via an innovative theranostic method, like considering its potential in diagnosing and treating radioiodine-resistant differentiated thyroid cancer (DTC) using Thyrogen as a targeted radiopharmaceutical like [89Zr]Zr-Thyrogen. This breakthrough signifies the shift towards precision medicine, where diagnosis and treatment interventions are attuned to the particular requirements of patients. Furthermore, continued financial investment in research and innovation buttresses the use of recombinant TSH to address unfulfilled medical necessities, bolstering its acceptance in emerging clinical situations.

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What regions are dominating the thyrogen market growth?

North America was the largest region in the thyrogen market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the thyrogen market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

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