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Thyroid Cancer Drugs Market – 2021 Application Scope, Types, Technology Benefits and Global Business Outlook By Coherent Market Insights

SEATTLE, April 01, 2021, (PHARMIWEB) — Thyroid cancers is that cancer in which the extra tissue is developed in the thyroid gland. In this condition, cells grow abnormally and spread throughout the body. Thyroid cancer can be classified into papillary thyroid cancer, follicular thyroid cancer, medullary thyroid cancer, and anaplastic thyroid cancer. Major symptoms of this cancer are selling and lump in the neck and it can be diagnosed by using ultrasound and fine-needle aspiration. Anaplastic thyroid cancer is characterized by an aggressive undifferentiated tumor. Some of the other types of cancer are thyroid lymphomas, thyroid sarcomas, parathyroid cancer or other rare thyroid tumors.

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Market Drivers

The rising prevalence of thyroid cancer is projected to fuel the growth of the thyroid cancer drugs market. For instance, according to National Cancer Institute (NCI), 2013-2015 data findings, around1.2% of men and women are expected to be diagnosed with thyroid cancer at some point during their lifetime, in the U.S. Moreover, according to the NCI 2018 data findings, in 2018, there were an estimated 53,990 new cases of thyroid cancer and an estimated 2,060 people are expected to die due to thyroid cancer, in the U.S. Moreover, according to Cancer Research UK, 2015 data findings, in the U.K. there were 3,528 new cases of thyroid cancer registered in 2015. According to the same source, thyroid cancer accounted to register 1% of all cancer cases in 2015, which includes 27% of thyroid cancer cases in males, and 73% in females, in the U.K. Furthermore, according to Cancer Research UK, the lifetime risk of developing thyroid cancer is around 1 in 480 for men and around 1 in 180 for women, in 2012 in the U.K.

In 2016, according to the American Cancer Society, anaplastic thyroid cancer accounts for 2% of all thyroid cancers, in North America. FDA granted several programs, in order to increase the availability of drugs to treat serious diseases. In May 2018, the Food and Drug Administration (FDA) approved a combination of two targeted drugs, dabrafenib plus trametinib, to treat patients with anaplastic thyroid cancer. The combination of Tafinlar (dabrafenib) and Mekinist (trametinib) is the first FDA approved treatment for these types of thyroid cancers. Moreover, in 2015, the FDA approved Lenvatinib for the treatment of locally recurrent or metastatic, progressive, radioactive iodine-refractory differentiated thyroid cancer. In November 2013, the U.S. FDA approved Nexavar (sorafenib) to treat patients with Stage IV thyroid cancer. Moreover, the drug is already present in the market for the treatment of liver and kidney cancer.

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On the flip side, thyroid cancer drug rejection, due to the incompetence of drugs in providing efficient output to thyroid cancer patients, is projected to be a major restraining factor for the growth of the market. For instance, in October 2017, National Institute for Health and Care Excellence (NICE), rejected Bayer’s Nexavar and Eisai’s Lenvima in thyroid cancer, stating that neither of these drugs is cost-effective against thyroid cancer treatment.

Regional Analysis

Geographically, the thyroid cancer drugs market is segmented into North America, Latin America, Europe, Middle East, Asia Pacific, and Africa. North America holds the dominant position in the thyroid cancer drugs market and this can be attributed to the growing prevalence of thyroid cancer in this region. According to National Cancer Institute (NCI) 2018 data findings, in 2015, there were an estimated 765,547 people living with thyroid cancer in the U.S. Moreover, according to the same source, an estimated 53,990 new cases of thyroid cancer are expected to be registered in 2018, representing 3.1% of all new cancer cases, in 2018.

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Competitive Landscape

Some of the key players operating in the thyroid cancer drugs market include Biovista, Vascular Biogenics, Azaya Therapeutics, Bionomics, Bayer, Eisai, Bio-Path Holdings, Takeda Pharmaceutical Company, GlaxoSmithKline plc, and AstraZeneca plc. Key players in the market are focusing on organic growth strategies, in order to enhance its market share and retain their position in the market. For instance, in May 2016, U.S. Food and Drug Administration (FDA) granted Orphan Drug Designation for AstraZeneca’s investigational MEK 1/2 inhibitor, selumetinib for adjuvant treatment of patients with stage III or IV differentiated thyroid cancer (DTC). Moreover, in April 2011, the FDA approved AstraZeneca’s kinase inhibitor vandetanib for the treatment of unresectable or metastatic medullary thyroid cancer.

Furthermore, key players are engaged in developing effective drugs to treat thyroid cancer through their diverse range of product pipelines. For instance, in June 2012, Azaya Therapeutics, Inc. announced the Phase I study of their anti-cancer drug, ATI-1123 (liposomal docetaxel), which is also indicated for thyroid cancer treatment. The result shows that 79% of heavily pretreated patients received benefit from ATI-1123.

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Market Taxonomy:

By Drug Type:

  • Ipilimumab
  • Cabozantinib-S-Malate
  • Caprelsa (Vandetanib)
  • Doxorubicin Hydrochloride
  • Cometriq (Cabozantinib-S-Malate)
  • Lenvatinib Mesylate
  • Nivolumab
  • Vandetanib
  • Others

By End Users:

  • Hospitals
  • Oncology Clinics
  • Research Organizations
  • Others

By Geography:

  • North America
  • Latin America
  • Europe
  • Asia Pacific
  • Middle East
  • Africa

Table of Content

Global Thyroid Cancer Drugs Market Research Report
Section 1: Global Thyroid Cancer Drugs Industry Overview
Section 2: Global Economic Impact on Thyroid Cancer Drugs Industry
Section 3: Global Market Competition by Industry Producers
Section 4: Global Productions, Revenue (Value), according to Regions
Section 5: Global Supplies (Production), Consumption, Export, Import, geographically
Section 6: Global Productions, Revenue (Value), Price Trend, Product Type
Section 7: Global Market Analysis, on the basis of Application
Section 8: Thyroid Cancer Drugs Market Pricing Analysis
Section 9: Market Chain, Sourcing Strategy, and Downstream Buyers
Section 10: Strategies and key policies by Distributors/Suppliers/Traders
Section 11: Key Marketing Strategy Analysis, by Market Vendors
Section 12: Market Effect Factors Analysis
Section 13: Global Thyroid Cancer Drugs Market Forecast

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Last Updated: 01-Apr-2021