Global Differentiated Thyroid Cancer Drugs Market is segmented By Drug Type (Radioiodine Ablation, Thyroid Stimulating Hormone (THS) Suppression, Chemotherapy, Targeted Multikinase Therapy, Others), By Distribution Channel (Hospital Pharmacies, Retail Pharmacies, Others), and By Region (North America, Europe, South America, Asia Pacific, Middle East, and Africa) – Share, Size, Outlook, and Opportunity Analysis, 2024-2031
Differentiated Thyroid Cancer Drugs Market Overview
The Global Differentiated Thyroid Cancer Drugs Market is expected to grow at a high CAGR during the forecasting period (2024-2031)
Thyroid cancer is one type of cancer that starts in the thyroid gland, which makes hormones that help to regulate metabolism, heart rate, blood pressure, and body temperature. The most common type of thyroid cancer is papillary thyroid cancer and, with proper treatment, is considered to have the best overall "prognosis." Similarly, follicular thyroid cancer has a favorable outcome with proper treatment. Together, they are called "thyroid epithelial" cancers because they come from cells that make thyroid hormones essential for regulating metabolism. Both cancers are termed "Differentiated Thyroid Cancer" because the cancer cells behave like normal thyroid tissue, in that they intake iodine and produce thyroid hormones. Differentiated thyroid cancer (DTC) of thyroid epithelium accounts for more than 90% of thyroid cancers. Insufficient iodine nutrition, about 85% of DTC are papillary, 10% are follicular, and 3% are Hurthle cell carcinomas.
Differentiated Thyroid Cancer Drugs Market Scope
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Metrics |
Details |
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Market CAGR |
High |
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Segments Covered |
By Drug Type, By Distribution Channel, and By Region |
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Report Insights Covered |
Competitive Landscape Analysis, Company Profile Analysis, Market Size, Share, Growth, Demand, Recent Developments, Mergers and acquisitions, New Product Launches, Growth Strategies, Revenue Analysis, and Other key insights. |
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Fastest Growing Region |
Asia Pacific |
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Largest Market Share |
North America |
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Differentiated Thyroid Cancer Drugs Market Dynamics
The global Differentiated Thyroid Cancer Drugs market growth is driven by the growing incidence of Thyroid cancers, and changing lifestyle, increasing obesity cases, increasing awareness and technological advancement in treatment are among the key factors driving the market growth.
Increased Prevalence of Thyroid Cancers, is expected to drive the global Differentiated Thyroid Cancer Drugs market during the forecast period.
The number of thyroid cancer cases worldwide has been increasing. According to the American Cancer Society (ACS) estimates, there will be around 44,280 new thyroid cancer cases (12,150 in men and 32,130 in women) in 2021. It is commonly diagnosed at a younger age than most other adult cancers, and women are three times more likely to develop thyroid cancer than men. Differentiated thyroid cancer (DTC) of thyroid epithelium accounts for more than 90% of thyroid cancers. Insufficient iodine nutrition, about 85% of DTC are papillary, 10% are follicular, and 3% are Hurthle cell carcinomas. This increase can be attributed to a low-fibre diet, obesity, and iodine deficiency, amongst others. The increase in the number of colorectal cases will add to the overall global differentiated thyroid cancer drugs market.
Increased Treatments and drug approvals, is expected to drive the global Differentiated Thyroid Cancer Drugs market during the forecast period.
Treatments like external beam radiation therapy and chemotherapy, Radioactive iodine treatment are usually used to manage and cure differentiated thyroid cancer. These treatments are reserved for cases where cancer has spread throughout the body or has not been responsive to other treatments. For instance, Suzhou Zelgen Biopharmaceuticals Co., Ltd conducting a phase 3 study of donafenib, an oral multikinase inhibitor that targets Raf kinase and receptor tyrosine kinases, is to assess efficacy and safety in patients with 131I-refractory/resistant differentiated thyroid cancer is expected to complete by 2021.
Product recall of a few drugs is likely to hamper the global Differentiated Thyroid Cancer Drugs market
Product recall of a few drugs is hampering the follicular thyroid cancer drug market. According to the FDA statement, in August 2018, Westminster Pharmaceuticals recalled Levothyroxine and Liothyronine tablets as a precautionary measure because they were manufactured using active pharmaceutical ingredients sourced before the FDA’s Import Alert of Sichuan Friendly Pharmaceutical Co., Ltd.
COVID-19 Impact Analysis
Due to the covid-19 pandemic outbreak, the market for the Global differentiated thyroid cancer drugs market was seen to be down, due to the barriers in production and sales segments. Since the outbreak led to the shutdown of all manufacturing firms except for masks, sanitisers and ventilators. Hence, the Drugs were manufactured less compared to previous years, during the outbreak.
Differentiated Thyroid Cancer Drugs Market Segment Analysis
Based on the Drug Type, the global Differentiated Thyroid Cancer Drug market is segmented into Radioiodine Ablation, Thyroid Stimulating Hormone (THS) Suppression, Chemotherapy, Targeted Multikinase Therapy and Others
The radioiodine Ablation, segment is expected to grow at the fastest CAGR during the forecast period (2020-2027)
The American Thyroid Association guidelines currently recommended the selective use of radioactive iodine in patients with DTC. This treatment is used to ablate (destroy) any thyroid tissue that is not removed by surgery or treat some types of thyroid cancer that have spread to lymph nodes and other parts of the body. The major function of iodine in the body is to use thyroid cells to make thyroid hormones. Thyroid cells use all of the iodine in the body for hormone production essentially. Well-differentiated thyroid cancer cells also can intake iodine, just like healthy thyroid cells. Radioactive iodine (I-131) treatment involves administering I-131 (a radioactive isotope of iodine) to a patient either as a liquid or in a capsule. This radioactive iodine is then taken up by thyroid cells, both healthy and cancerous. Since it is radioactive iodine, it will damage the thyroid cells and prevent them from dividing. These will affect all thyroid cells, no matter where in the body they are located, but will not damage normal tissue. Radioactive iodine therapy helps people live longer if they have differentiated thyroid cancer that has spread to the neck or other parts of the body. It is now standard practice in such cancer cases.
Based on the Distribution channel, the hospital pharmacy is expected to dominate the Global Differentiated Thyroid Cancer Drug market during the forecast period
The hospital pharmacies held the largest share in the global follicular cancer drugs market. This is mainly owing to the increasing number of patients suffering from conditions that are treated in hospitals equipped with advanced infrastructure and adequate facilities. Moreover, the growing number of hospitals along with adequate reimbursement policies is also contributing to the growth of this segment. Also, the surgery can only be done under the supervision of medical practioners at these locations.
Differentiated Thyroid Cancer Drugs Market Geographical Share
North America served the largest share of the market due to the increasing prevalence of urological cancer diseases. According to the American Cancer Society’s estimates for the number of colorectal cancer cases in the United States for 2021 are 44,280 new thyroid cancer cases (12,150 in men and 32,130 in women). Differentiated thyroid cancer (DTC) of thyroid epithelium accounts for more than 90% of thyroid cancers. The existence of a highly developed healthcare system, the high degree of acceptance by medical practitioners of novel treatments, the total availability of advanced technological tools, FDA approval of new drugs and many companies are developing oncology products.
The Asia Pacific is expected to be the fastest-growing market over the forecast period owing to the increasing prevalence rate, increasing focus on preventive care, and government initiatives promoting technological innovations. Change in lifestyle and the increase in obesity among the young population in the Asia Pacific. For instance, Suzhou Zelgen Biopharmaceuticals Co., Ltd conducting Phase I/II Clinical Trial of dose-tolerance, pharmacokinetics and Iodine Uptake for Recombinant Human Thyroid Stimulating Hormone in Post-thyroidectomized Patients.
Differentiated Thyroid Cancer Drugs Market Companies and Competitive Landscape
The Global Differentiated Thyroid Cancer Drugs Market is quite competitive with some key competitors like Mylan Pharmaceuticals Inc., Baxter International Inc., Alara Pharmaceutical Corporation, Suzhou Zelgen Biopharmaceuticals Co., Ltd, Abbott Laboratories, Bristol Myers co., Teva parenteral medicines Inc., Jerome Stevens Pharmaceuticals Inc., and App pharmaceuticals LLC, Pfizer Inc. The key players are adopting various growth strategies such as product launch, acquisitions and investments in multiple sectors. For instance, REVLIMID (lenalidomide), the product of Celgene Corporation, is currently under phase 2 clinical trial for therapy of radioiodine-unresponsive papillary & follicular thyroid cancers.
Pfizer Inc.
Overview: Pfizer Inc. (Pfizer), incorporated on June 2, 1942, is a research-based global biopharmaceutical company. The Company is engaged in the discovery, development and manufacture of healthcare products. Its global portfolio includes medicines and vaccines. The Company manages its commercial operations through two business segments: Pfizer Innovative Health (IH) and Pfizer Essential Health (EH). IH focuses on developing and commercializing medicines and vaccines that improve patients' lives. IH therapeutic areas include internal medicine, vaccines, oncology, inflammation and immunology and rare diseases. EH includes legacy brands, branded generics, generic sterile injectable products, and biosimilars and infusion systems. EH also includes a research and development (R&D) organization, as well as its contract manufacturing business. The Company sold its products in over 125 countries.
Product Portfolio: The Company’s portfolio comprised of include internal medicine, vaccines, oncology, inflammation and immunology and rare diseases and others.
Key developments:
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Disease |
Intervention |
Phase |
Collaborator |
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Thyroid Cancer |
Drug: Temsirolimus and Sorafenib |
Phase 2 |
Pfizer |
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