According to WHO thyroid cancer therapeutics, differentiated thyroid cancer is divided into papillary and follicular thyroid cancer. These cancer types are called as differentiated cancer since papillary and follicular thyroid cancer differ in their biological behavior and may require distinct therapeutic approach. Differentiated thyroid cancer are most common type of thyroid cancer and most curable among other cancers. According to Surveillance, Epidemiology, and End Result Program of Nation Cancer Institute survival rate of thyroid cancer patients after 5 years of first diagnosis is 98.2%. According to The National Cancer Institute, thyroid cancer represented approximately 3.8% of all new cases in 2016. Differentiated thyroid cancer is commonly diagnosed between the ages of 30 and 60, although it can occur at any age. Female are affected 3 times more often than the males. Increasing size of nodule in patient is the primary symptom of differentiated thyroid cancer. Cough, dyspnea and dysphagia are the symptoms of advanced stage. Treatment includes surgery, followed by medication treatment.
Differentiated Thyroid Cancer Therapeutics Market: Drivers and Restraint
Differentiated thyroid cancer therapeutic market is expected to be driven by theincreasing prevalence and incidence rate of differentiated thyroid cancer. Increasing awareness about the cancer disease, raising government funds and reimbursement policies are the key factors which are expected to propel the overall differentiated thyroid cancer therapeutic market. Differentiated thyroid cancer falls in the orphan disease category according to the definition provided by US FDA. Orphan drug designation to the differentiated thyroid cancer therapeutic is also expected to drive the growth of market since, the drugs are given special privileges by governments.
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Differentiated Thyroid Cancer Therapeutics Market: Segmentation
The global differentiated thyroid cancer therapeutics market can be segmented by treatment, end user and region.
On the basis of treatment the global differentiated thyroid cancer therapeutics market can be segmented into:
- Radioiodine Ablation
- Thyroid Stimulating Hormone (THS) Suppression
- Targeted Multikinase Therapy
On the basis of end user the global differentiated thyroid cancer therapeutic market can be segmented as:
- Oncology Canters
- Hospital Pharmacies
- Retail Pharmacies
Differentiated Thyroid Cancer Therapeutics Market: Overview
The global differentiated cancer therapeutic market is expected to show significant growth over the forecast period due to increasing prevalence of thyroid cancer, increasing geriatric population as this disease is more prominent in elderly patients. Market of differentiate cancer therapeutics is expected to show significant growth over the forecast period due to strong drug pipeline and regulatory environment to approve drugs. Radioiodine ablation segment dominates the global differentiated thyroid cancer therapeutic market and is expected to continue to dominate the market due to effectiveness of the therapy.
Differentiated Thyroid Cancer Therapeutics Market: Region Wise Outlook
Geographically, the global differentiated thyroid cancer therapeutic market can be segmented into regions: North America, Latin America, Western Europe, Eastern Europe, Asia Pacific Excluding Japan, Japan and Middle East & Africa. North America dominates the global differentiated thyroid cancer therapeutics market and is expected to continue to dominate the market over the forecast period owning to better reimbursement policies, advanced healthcare facilities and increasing geriatric population. Better intellectual properties laws that allow companies to set high price for their products is also expected to be factor for the dominance of North America. Asia Pacific region is expected to be fastest growing market for the differentiated thyroid cancer therapeutics market owning to large patient pool and increasing focus of pharmaceutical companies on emerging economies, especially India and China.
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Differentiated Thyroid Cancer Therapeutics Market: Key Players
Some of the key players in the global differentiated thyroid cancer therapeutics market are, Mylan pharmaceuticals Inc., Baxter International Inc., Alara Pharmaceutical Corporation, Abbott laboratories, Bristol Myers co., Teva parenteral medicines Inc., Jerome Stevens Pharmaceuticals Inc., and App pharmaceuticals llc. Major focus of the companies is on expansion into emerging market and companies are undergoing collaboration with local players to market their products.