What’s Driving Growth in the Thyroid Cancer Diagnostics Market? Insights into Key Trends and Opportunities
Updated 2025 Market Reports Released: Trends, Forecasts to 2034 – Early Purchase Your Competitive Edge Today!
How has the thyroid cancer diagnostics market size evolved in recent years?
The market size for thyroid cancer diagnostics has witnessed significant growth in the past few years. The market is projected to increase from $2.99 billion in 2024 to $3.16 billion in 2025, exhibiting a compound annual growth rate (CAGR) of 5.7%. The growth during the historical period can be linked to the rising occurrence of thyroid cancer, the aging demographic, heightened awareness leading to early detection, government policies and funding, as well as enhanced healthcare infrastructure.
What are the predictions for the thyroid cancer diagnostics market size in the coming years?
In the coming years, it is projected that the market for thyroid cancer diagnostics will experience substantial growth, reaching $4.01 billion in 2029 with a compound annual growth rate (CAGR) of 6.2%. This growth within the forecast period can be linked to the rising demand for companion diagnostics, a surge in the preference of patients for personalized medicine, health expenditure and economic expansion, advancement in physician education and training, as well as regulatory affirmations and clearances. Key trends throughout this period are expected to include liquid biopsies, the spreading of diagnostic technologies globally, advancements in technology, research and development, the incorporation of artificial intelligence, along with collaborations and partnerships.
Get your thyroid cancer diagnostics market report here!
https://www.thebusinessresearchcompany.com/report/thyroid-cancer-diagnostics-global-market-report
What key factors are fueling the growth of the thyroid cancer diagnostics market?
As the incidence rate of thyroid cancer escalates, it propels the expansion of the thyroid cancer diagnostic market. This type of cancer affects the thyroid gland, which is positioned at the base of our throat, and is responsible for generating various hormones that control body temperature, heart rate, blood pressure, and weight. Diagnostic procedures for thyroid cancer facilitate early detection that can considerably improve the success rate of treatments. Consequently, a rise in thyroid cancer cases amplifies the demand for its diagnostic market. For example, a report by the American Cancer Society, a non-profit institution in the U.S., predicted in September 2023 that there would be nearly 43,720 new thyroid cancer patients, with men diagnosed at 12,540 and women at 31,180 in 2023. The estimated death toll from this disease in the same year stands at roughly 2,120, including 970 men and 1,150 women. As a result, the mounting prevalence of thyroid cancer thrusts the growth of its diagnostic market.
How is the global thyroid cancer diagnostics market divided into key segments?
The thyroid cancer diagnostics market 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
Get your free sample now – explore exclusive market insights:
https://www.thebusinessresearchcompany.com/sample.aspx?id=12030&type=smp
Who are the key firms paving the way for growth 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.
Which trends are expected to transform the thyroid cancer diagnostics market?
Top firms in the thyroid cancer diagnostic market are introducing novel solutions, such as RNA sequencing tests, to improve the precision of cancer fusion detection in numerous solid tumors, including thyroid cancer. RNA sequencing (RNA-Seq) is a sophisticated method that enables the assessment of both the quantity and sequence of RNA in a specimen, offering valuable information about gene expression and the overall transcriptome. In March 2024, for example, Foundation Medicine, Inc., a biotechnology company based in the United States, revealed the U.S. release of FoundationOne RNA, a tissue-based RNA sequencing test devised to detect cancer-associated gene fusions across 318 genes. This test offers fusion reporting for all solid tumors, which could offer significant insights in identifying fusions in non-small cell lung cancer (NSCLC), sarcoma, pancreatic cancer, thyroid cancer, cholangiocarcinoma, and bladder cancer.
Unlock exclusive market insights – purchase your research report now for a swift delivery!
https://www.thebusinessresearchcompany.com/purchaseoptions.aspx?id=12030
What regions are contributing significantly to the growth of 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.
Browse Through More Similar Reports By The Business Research Company:
Automotive Light Emitting Diode (LED) Bulbs Global Market Report 2024
Electric Motor And Generator Global Market Report 2024
https://www.thebusinessresearchcompany.com/report/electric-motor-and-generator-global-market-report
Automobiles And Heavy Equipment Global Market Report 2024
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.
Contact us at:
The Business Research Company: https://www.thebusinessresearchcompany.com/
Americas +1 3156230293
Asia +44 2071930708
Europe +44 2071930708
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
Found this article helpful? Share it on:
