The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2023 and forecasted to 2032

The Business Research Company’s thyroid cancer drugs market report forecasts the thyroid cancer drugs market size to grow to $1.29 Billion by 2027, with a CAGR (compound annual growth rate) of more than 12%.

Learn More On The Thyroid Cancer Drugs Market Report 2023 – https://www.thebusinessresearchcompany.com/report/thyroid-cancer-drugs-global-market-report

Thyroid Cancer Drugs Market Size Forecast
The global thyroid cancer drugs market is expected to grow from $0.71 billion in 2022 to $0.81 billion in 2023 at a compound annual growth rate (CAGR) of 14.0%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The global thyroid cancer drugs market size is expected to grow to $1.29 billion in 2027 at a CAGR of 12.5%.

North America held the largest thyroid cancer drugs market share, and Middle East was the fastest-growing region in 2022.

Key Thyroid Cancer Drugs Market Driver ­– Increase In The Incidences Of Thyroid Cancer, Especially In Women
For instance, in 2022, according to The American Cancer Society, a US-based organization, Approximately 43,800 new cases of thyroid cancer were estimated in the United States, which are 31,940 cases in women and 11,860 cases in men with 2,230 deaths from thyroid cancer, among those deaths, 1,070 are of men and 1,160 deaths are of women. Therefore, increasing incidences of thyroid cancer, especially in women drives the thyroid cancer market.

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Key Thyroid Cancer Drugs Market Trend – Adopting Combination Drugs
Combination drugs are increasingly being used in the treatment of thyroid cancer as they are more effective and help prevent cancer progression. A combination drug includes two or more active pharmaceutical ingredients (APIs) combined in a single dosage form. These drugs reduce the development of drug resistance and prevent the growth of cancer cells. For instance, the FDA approved the combination of dabrafenib (Tafinlar), a BRAF inhibitor, and trametinib (Mekinist), a MEK inhibitor for the treatment of anaplastic thyroid cancer.

Thyroid Cancer Drugs Market Segment
1) By Drug Type: Ipilimumab, Cabozantinib-S-Malate, Caprelsa (Vandetanib), Doxorubicin Hydrochloride, Lenvatinib Mesylate, Nivolumab, Vandetanib, Other Drug Types
2) By End Users: Hospitals, Oncology Clinics, Research Organizations, Other End-Users
3) By Type: Radioiodine Ablation, Thyroid Stimulating Hormone (THS) Suppression, Chemotherapy, Targeted Multikinase Therapy, Other Types

Thyroid Cancer Drugs Market Major Players and Strategies
Major players in the thyroid cancer drugs market are Mylan Pharmaceuticals Inc., Alara Pharmaceutical Corporation, Bristol Myers co., Teva parenteral medicines Inc., Jerome Stevens Pharmaceuticals Inc., Baxter International Inc., Abbott laboratories, App pharmaceuticals llc., AstraZeneca PLC and GlaxoSmithKline PLC.

In August 2022, Bristol Myers Squibb, a US-based pharmaceutical company acquired Turning Point Therapeutics for an undisclosed amount. Through this acquisition, BMS expands its portfolio in developing precision medicine for cancer patients. Turning Point Therapeutics is a US-based company developing cancer drugs that also include thyroid cancer drugs.

The Thyroid Cancer Drugs Global Market Report 2023 covers regional data on thyroid cancer drugs market size, thyroid cancer drugs market trends and drivers, opportunities, strategies, and thyroid cancer drugs market competitor analysis. The countries covered in the thyroid cancer drugs market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the UK, and the USA, and the major seven regions are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.

The thyroid cancer drugs refer to drugs that are used to treat thyroid cancer by blocking several different kinase proteins. These medications function primarily in two ways. First, they aid in preventing tumours from growing new blood vessels, which they require to do so. They target a few of the proteins that cancer cells often produce to aid in their growth. The thyroid tissue is made up of follicular cells and parafollicular cells in which cancer develops.

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