Global Thyroid Cancer Diagnostics Market Analysis, Drivers, Restraints, Opportunities, Threats, Trends, Applications, and Growth Forecast to 2029

Global Thyroid Cancer Diagnostics Market Overview:

"The Thyroid Cancer Diagnostics Market size is expected to be worth around US$ xx Billion by 2021 from US$ X.xx million in 2031, growing at a CAGR of X.x% during the forecast period 2021 to 2031."

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The actual diagnosis of thyroid cancer is carried out with a biopsy, in which cells are removed from a suspicious area and examined in a lab. The simplest to determine if a thyroid nodule or lump is cancerous is with a Fine Needle Aspiration (FNA) of the thyroid nodule.

The rising prevalence of thyroid cancer and the growing emphasis on precursory diagnosis and treatment is a primary that is expected to fuel revenue growth of the global thyroid cancer diagnostics market in the years to come. Increasing R&D being undertaken by key industry players towards the development of precise diagnostic systems to improve diagnosis and patient outcomes is also expected to boost the revenue growth of this market in the near future.

The lack of knowledge concerning causative factors and the late diagnosis of this disease are some of the factors that may restrain the revenue growth of the global thyroid cancer diagnostics market.

However, the increasing number of initiatives being undertaken by governing bodies and favorable reimbursement policies are expected to boost the revenue growth of the global thyroid cancer diagnostics market in the coming years.

Segmentation of the global thyroid cancer diagnostics market is as follows:

In terms of type, the papillary carcinoma segment accounted for the majority of revenue shares of the global thyroid cancer diagnostics market in 2019. The follicular carcinomas segment came in second with respect to revenue generated in 2019.

On the basis of technique, the imaging segment accounted for the highest number of revenue shares of the global thyroid cancer diagnostics market in 2019.

With respect to end-use, the hospital's segment accounted for the highest number of revenue shares of the global thyroid cancer diagnostics market in 2019, owing to the increasing patient inflow for thyroid cancer diagnosis, increasing R&D investments in both developed and emerging economies, as well as growing consumer awareness concerning thyroid cancer. The research institutes segment is slated to register the highest rate of revenue growth over the next 10 years owing to increasing global funding towards cancer research.

Regional Segmentation and Analysis:

North America accounted for the majority revenue share of the global thyroid cancer diagnostics market in 2019, owing to the increase in overall healthcare expenditures, favorable government initiatives, and the presence of key industry players in the region.

The markets in the APAC region are expected to register the highest rate of revenue growth in the coming years due to the increasing prevalence of thyroid cancer, higher disposable incomes, and improving healthcare infrastructure facilities.

Segmentation of the Global Thyroid Cancer Diagnostics Market:

Segmentation by Type:

• Papillary Carcinoma
• Follicular Carcinoma
• Others

Segmentation by Technique:

• Blood Tests
• Imaging
• Biopsy
• Others

Segmentation by End-Use:

• Hospital Laboratories
• Cancer Diagnostic Centers
• Research Institutes
• Others

Segmentation by Region:

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