Claim your 20% discount on Global Market Reports with code ONLINE20. Limited time only.
What Is The Predicted Market Size Of The Thyroid Cancer Diagnostics Industry By 2029?
In recent times, the market size for thyroid cancer diagnostics has seen robust growth. The market size is projected to rise from $2.99 billion in 2024 to $3.15 billion in 2025, reflecting a compound annual growth rate (CAGR) of 5.5%. The augmentation in the historical period is due to factors such as the increasing incidence of thyroid cancer, an aging demographic, enhanced awareness and early detection measures, government-driven initiatives and funding, along with improved healthcare infrastructure.
In the upcoming years, the thyroid cancer diagnostics market size is projected to witness robust growth. It is estimated to escalate to $3.99 billion in 2029, with a compound annual growth rate (CAGR) of 6.1%. Factors such as the rising demand for companion diagnostics, patient inclination towards personalized medicine, economic development, healthcare expenditure, education, and training of physicians, as well as regulatory approvals, contribute to this growth within the forecast period. The period is also expected to encounter trends like liquid biopsies, worldwide acknowledgement of diagnostic technologies, technological progress, comprehensive research and development, artificial intelligence integration, and strategic collaborations and partnerships.
Get A Free Sample Of The Report:
https://www.thebusinessresearchcompany.com/sample.aspx?id=12030&type=smp
Which Growth Drivers Are Shaping The Thyroid Cancer Diagnostics Market Outlook?
The escalating occurrence of thyroid cancer is a significant factor propelling the expansion of the thyroid cancer diagnostic market. Thyroid cancer is a condition that affects the thyroid gland, which is located near the base of the throat and is responsible for the production of hormones that regulate body temperature, heart rate, blood pressure, and weight. Diagnostics for thyroid cancer facilitate early detection of the disease, thereby enhancing the effectiveness of treatment strategies. Consequently, the growing rates of thyroid cancer amplify the need for the diagnostic market. For example, a report from the American Cancer Society, a non-profit organization based in the US, projected that about 43,720 new cases of thyroid cancer would occur in September 2023. Among these cases, 12,540 are expected to be in men and 31,180 in women. The predicted number of fatalities from thyroid cancer in the same year is nearly 2,120, with 970 in men and 1,150 in women. Hence, the mounting incidence of thyroid cancer is driving the growth of the thyroid cancer diagnostic market.
How Is The Global Thyroid Cancer Diagnostics Market Broken Down By Segment?
The thyroid cancer diagnosticsmarket 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
Which Market Trends Are Expected To Define The Future Of The Thyroid Cancer Diagnostics Market?
Leading corporations in the thyroid cancer diagnostic market are advancing and introducing groundbreaking solutions such as RNA sequencing tests aimed at improving the precision of cancer fusion detection across various types of solid tumors, thyroid cancer included. RNA sequencing (RNA-Seq), a powerful technique, facilitates the study of RNA’s volume and sequence in a sample, thereby shedding light onto gene expression and the entire transcriptome. For instance, Foundation Medicine, Inc., an American biotech company, unveiled the FoundationOne RNA in the United States, an RNA sequencing test based on tissue designed for the detection of cancer-associated gene fusions spanning 318 genes, in March 2024. This test is critical in detecting fusion across all solid tumors, and notably beneficial in recognizing fusions in cancers such as non-small cell lung cancer (NSCLC), sarcoma, pancreatic cancer, thyroid cancer, cholangiocarcinoma, and bladder cancer.
Who Are The Primary Market Leaders In The Thyroid Cancer Diagnostics Market?
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.
Access The Complete Report Here:
https://www.thebusinessresearchcompany.com/report/thyroid-cancer-diagnostics-global-market-report
Which Regional Markets Are Emerging As Key Hubs For 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.
Customize Your Report Here:
https://www.thebusinessresearchcompany.com/customise?id=12030&type=smp
Browse Through More Reports Similar to the Global Thyroid Cancer Diagnostics Market 2025, By The Business Research Company
Motor Vehicle And Parts Dealers Global Market Report 2025
Automobiles And Heavy Equipment Global Market Report 2025
Electric Motor And Generator Global Market Report 2025
https://www.thebusinessresearchcompany.com/report/electric-motor-and-generator-global-market-report
About The Business Research Company:
With over 15000+ reports from 27 industries covering 60+ geographies, The Business Research Company has built a reputation for offering comprehensive, data-rich research and insights. Armed with 1,500,000 datasets, the optimistic contribution of in-depth secondary research, and unique insights from industry leaders, you can get the information you need to stay ahead in the game.
Get in touch with us:
The Business Research Company: https://www.thebusinessresearchcompany.com/
Americas +1 310-496-7795
Asia +44 7882 955267 & +91 8897263534
Europe +44 7882 955267
Email us at info@tbrc.info
Follow us on:
LinkedIn: https://in.linkedin.com/company/the-business-research-company
YouTube: https://www.youtube.com/channel/UC24_fI0rV8cR5DxlCpgmyFQ
Global Market Model: https://www.thebusinessresearchcompany.com/global-market-model