Medullary Thyroid Cancer

Medullary Thyroid Cancer

The medullary thyroid cancer market is expected to register a CAGR of approx. 13.1% over the period of 2023-2030. Medullary thyroid cancer (MTC) is a rare type of thyroid cancer that originates in the C cells of the thyroid gland. Unlike other types of thyroid cancer that arise from follicular cells, MTC is associated with the overgrowth of these C cells and the production of elevated levels of calcitonin, a hormone involved in calcium regulation. While MTC is relatively rare compared to other types of thyroid cancer, its prevalence has been increasing. For instance, According to Cancer.org, Thyroid cancer is common. There are four different types of thyroid cancers and MTC is the rarest type making up 3% to 4% of all thyroid cancers. About 1,000 people are diagnosed with MTC each year in the U.S. This increasing prevalence contributes to the growth of the MTC market. Furthermore, Government initiatives and policies aimed at improving cancer care and addressing rare diseases have contributed to the growth of the MTC market. These initiatives include funding for research and development, implementing screening programs, and improving access to healthcare services. For example, in 2021, the World Health Organization launched the Global Initiative for Childhood Cancer, emphasizing the importance of early detection and timely diagnosis of pediatric cancers, including MTC.

• Based on the treatment, the market has been categorized into Surgery, radiation therapy, and chemotherapy. Among them, the surgery segment is expected to grow at a higher CAGR in the market. The surgery segment is a key driver in the medullary thyroid cancer (MTC) market because surgery is often the primary treatment for localized or early-stage MTC. The surgical intervention aims to remove the tumour and affected lymph nodes to achieve complete resection and improve patient outcomes. Furthermore, in 2021, various medical institutions and hospitals have been adopting minimally invasive surgical techniques for MTC. Moreover, several countries have introduced or expanded their national cancer control programs, which include guidelines and regulations for the management of various cancers, including thyroid cancer. These programs emphasize the importance of timely diagnosis and appropriate surgical intervention, driving the focus on surgical treatments for MTC patients.
• Based on the end-user, the market has been categorized into hospitals, radiation therapy center, and online pharmacies. Among them, the hospital category is to witness higher adoption of medullary thyroid cancer during the forecast period. The rising incidence of MTC and the growing awareness of thyroid cancer among the general population have led to an increased number of patients seeking medical attention and treatment at hospitals. In addition, Hospitals offer a multidisciplinary approach to MTC treatment, bringing together various specialists such as endocrinologists, surgical oncologists, medical oncologists, radiologists, and pathologists to provide comprehensive and personalized care to MTC patients. Moreover, Hospitals often have surgical teams experienced in performing complex thyroid surgeries, including total thyroidectomy and lymph node dissection, which are essential in the management of MTC.
• For a better understanding of the market adoption of enzymes, the market is analyzed based on its worldwide presence in the countries such as North America (U.S., Canada, and Rest of North America), Europe (Germany, France, Italy, Spain, U.K., and Rest of Europe), Asia-Pacific (China, Japan, India, and Rest of APAC), and Rest of World. Medullary thyroid cancers have gained increasing popularity in North America due to various factors. The North America Medullary Thyroid Cancer market is expected to continue to grow in the coming years, driven by the increasing prevalence of medullary thyroid cancer and growing awareness of medullary thyroid cancer among healthcare professionals and the general population, development of advanced imaging techniques and the rise in treatment option. For instance, in 2020, according to Cancer.net, an estimated 586,202 people were diagnosed with thyroid cancer.
• Some of the major players operating AstraZeneca, Sanofi, Eli Lilly and Company, Exelixis, Inc., F. Hoffmann-La Roche Ltd, Novartis AG, Merck & Co., Inc, Bayer AG, HUTCHMED, Bristol-Myers Squibb Co. among others. Several M&A’s along with partnerships have been undertaken.