In a recently published report, Thyroid Cancer Diagnostic Market report for till 2030. The report further now discusses; the various strategies to be adopted or being adopted by the business players across the globe at various levels in the value chain. In view of the global economic slowdown, we further estimated that China, India, Japan and South Korea to recover fastest amongst all the countries in the Asian market. Germany, France, Italy, Spain to take the worst hit and this hit is expected to regain 25% by the end of 2021- Positive Growth in the economic demand and supply.
U S Market recovers fast; In a release on May 4th 2021, the U.S. Bureau and Economic Analysis and U.S. Census Bureau mention the recovery in the U.S. International trade in March 2021. Exports in the country reached $200 billion, up by $12.4 billion in Feb 2021. Following the continuous incremental trend, imports tallied at $274.5 billion, picked up by $16.4 billion in Feb 2021. However, as COVID19 still haunts the economies across the globe, year-over-year (y-o-y) average exports in the U.S. declined by $7.0 billion from March 2020 till March 2021 whilst imports increased by $20.7 billion during the same time. This definitely shows how the market is trying to recover back and this will have a direct impact on the Healthcare/ICT/Chemical industries, creating a huge demand for Thyroid Cancer Diagnostic Market products.
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Moreover, increasing expenditure on healthcare, backed by the need amongst individuals for quality healthcare services, is also anticipated to contribute to the market growth. According to the statistics by the World Bank, the current health expenditure (% of GDP) around the world increased from 9.08% in 2001 to 9.84% in 2018. Additionally, the current health expenditure per capita (current US$) increased from USD 492.99 in 2001 to USD 1110.84 in 2018.
Global Thyroid Cancer Diagnostic Market is valued approximately at USD 2.4 billion in 2019 and is anticipated to grow with a healthy growth rate of more than 5.5% over the forecast period 2020-2027. Thyroid cancer is a sort of cancer that usually arises when an unusual cell begins to grow up in the thyroid gland, liable for the secretion of thyroid hormones. This gland is typically found in the front of the neck. This cancer is extremely infrequent among the people. To precisely treat and diagnose thyroid cancer, healthcare professional generally reviews the entire medical history of a patient suffering from this cancer. However, this cancer might reoccur even after many years of the treatment, thus accurate diagnosis of thyroid cancer is required, which may contribute to the market growth around the world. Furthermore, the rise in the prevalence of thyroid cancer, along with the advancements & innovation in diagnosis technology are the few factors responsible for the CAGR of the market during the forecast period.
For instance, as per the National Institute of Health (NIH), the rate of new cases of thyroid cancer is estimated at around 15.7 per 100,000 women and men each year. Also, the death rate estimated almost 0.5 per 100,000 women and men every year. Similarly, according to the American Cancer Society, about 52,890 new cases of thyroid cancer were estimated in 2020, of which nearly 41,170 in women and 12,720 in men. This, in turn, is expected to strengthen the need for thyroid cancer diagnostics, making a significant impact on the market growth all over the world. However, the high cost of diagnosis coupled with adverse effects of diagnosis are the few major factors inhibiting the market growth over the forecast period of 2020-2027.
The regional analysis of the global Thyroid Cancer Diagnostic market is considered for the key regions such as Asia Pacific, North America, Europe, Latin America, and the Rest of the World. North America is the leading/significant region across the world in terms of market share owing to the increasing awareness among individuals and reimbursement policies, and the large presence of a significant number of market vendors in the region. Whereas Asia-Pacific is anticipated to exhibit the highest growth rate / CAGR over the forecast period 2020-2027. Factors such as the growing prevalence of thyroid cancer along with the improving healthcare infrastructure in developing countries, such as China and India, would create lucrative growth prospects for the Thyroid Cancer Diagnostic market across the Asia-Pacific region.
Major market player included in this report are:
F. Hoffmann-La Roche Ltd.
Thermo Fisher Scientific, Inc.
Siemens Healthcare GmbH
Bio-Rad Laboratories, Inc.
Koninklijke Philips N.V.
Agilent Technologies, Inc.
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
Cancer diagnostic centers
Rest of the World
Furthermore, years considered for the study are as follows:
Historical year – 2017, 2018
Base year – 2019
Forecast period – 2020 to 2027
Target Audience of the Global Thyroid Cancer Diagnostic Market in Market Study:
Key Consulting Companies & Advisors
Large, medium-sized, and small enterprises
Value-Added Resellers (VARs)
Third-party knowledge providers
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Chapter 1. Executive Summary
1.1. Market Snapshot
1.2. Global & Segmental Market Estimates & Forecasts, 2018-2027 (USD Billion)
1.2.1. Thyroid Cancer Diagnostic Market, by Region, 2018-2027 (USD Billion)
1.2.2. Thyroid Cancer Diagnostic Market, by Type, 2018-2027 (USD Billion)
1.2.3. Thyroid Cancer Diagnostic Market, by Technique, 2018-2027 (USD Billion)
1.2.4. Thyroid Cancer Diagnostic Market, by End-Use, 2018-2027 (USD Billion)
1.3. Key Trends
1.4. Estimation Methodology
1.5. Research Assumption
Chapter 2. Global Thyroid Cancer Diagnostic Market Definition and Scope
2.1. Objective of the Study
2.2. Market Definition & Scope
2.2.1. Scope of the Study
2.2.2. Industry Evolution
2.3. Years Considered for the Study
2.4. Currency Conversion Rates
Chapter 3. Global Thyroid Cancer Diagnostic Market Dynamics
3.1. Thyroid Cancer Diagnostic Market Impact Analysis (2018-2027)
3.1.1. Market Drivers
3.1.2. Market Challenges
3.1.3. Market Opportunities
Chapter 4. Global Thyroid Cancer Diagnostic Market: Industry Analysis
4.1. Porter’s 5 Force Model
4.1.1. Bargaining Power of Suppliers
4.1.2. Bargaining Power of Buyers
4.1.3. Threat of New Entrants
4.1.4. Threat of Substitutes
4.1.5. Competitive Rivalry
4.1.6. Futuristic Approach to Porter’s 5 Force Model (2017-2027)
4.2. PEST Analysis
4.3. Investment Adoption Model
4.4. Analyst Recommendation & Conclusion
Chapter 5. Global Thyroid Cancer Diagnostic Market, by Type
5.1. Market Snapshot
5.2. Global Thyroid Cancer Diagnostic Market by Type, Performance – Potential Analysis
5.3. Global Thyroid Cancer Diagnostic Market Estimates & Forecasts by Type 2017-2027 (USD Billion)
5.4. Thyroid Cancer Diagnostic Market, Sub Segment Analysis
5.4.1. Papillary carcinoma
5.4.2. Follicular carcinoma
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