Papillary Thyroid Carcinoma Treatment Market: Surgery Segment to Lead the Global Market
Papillary Thyroid Carcinoma Treatment: Introduction
- Thyroid gland is made of thyroid cells that absorb iodine from food and convert it into triiodothyronine (T3) and thyroxine (T4). These hormones are released into the blood stream and play an important role in the regulation of metabolism. A normal thyroid gland produces around 80% T4 and 20% T3.
- The thyroid gland is prone to several problems including underactive thyroid (hypothyroidism), overactive thyroid (hyperthyroidism), and thyroid nodules, autoimmune thyroiditis (Hashimoto’s thyroiditis), and papillary thyroid carcinoma
- Papillary thyroid carcinoma is the most common form of thyroid cancer and constitutes about 80% of all thyroid cancers detected. Papillary thyroid carcinomas are well-differentiated tumors that can largely remain asymptomatic in early stages and are marked by only a mass or lump in the neck. Papillary thyroid cancer has high survival rate, better prognosis, and can usually be cured in most of the cases unlike rare anaplastic thyroid cancer that grows and spreads quickly and has lesser chance of recovery.
- The signs and symptoms of papillary thyroid carcinoma include a lump or nodule in the neck, trouble in breathing or swallowing, pain when swallowing, and/or hoarseness in voice
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Key Drivers and Restraints of Global Papillary Thyroid Carcinoma Treatment Market
- The global papillary thyroid carcinoma treatment market is driven by increase in incidence of thyroid disorders such as hypothyroidism and hyperthyroidism. Rise in the number of patients affected with autoimmune diseases (which is a major risk factor for thyroid disorder) such as Grave’s disease is considered a major factor for consistent increase in incidence of thyroid disorders, including cancer.
- Organizations such as the World Health Organization (WHO) and the American Association of Clinical Endocrinologists (AACE) have stated that thyroid disorders are rapidly increasing and demand novel and effective thyroid therapeutics for treatment
- Additionally, prevalence of thyroid cancer is increasing at a constant rate in developed countries. This boosts the global papillary thyroid carcinoma treatment market.
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- Age, gender, and exposure to harmful radiations are the major risk factors for developing papillary thyroid cancer
- Several private and government organizations and key companies are engaged in increasing awareness about thyroid disorders through disorder awareness campaigns in developing as well as developed regions. These programs would increase awareness about thyroid cancer among the patient population, leading to higher uptake of thyroid therapeutics.
- However, lack of awareness, high treatment cost, and treatment-associated side effects are likely to hamper market growth during the forecast period
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Surgery Segment to Lead Global Papillary Thyroid Carcinoma Treatment Market
- The treatment regime for papillary thyroid carcinoma is often decided based on patient age and stage of cancer
- In terms of treatment type, the global papillary thyroid carcinoma treatment market can be divided into surgery, radiation therapy, thyroid hormone therapy, chemotherapy, and others.
- Surgery is the standard treatment option for most of the papillary thyroid cancers. The surgery segment can be classified into lobectomy, thyroidectomy, and lymph node removal.
- The thyroid gland absorbs most of the iodine in the body. Hence, radioactive iodine (RAI, also called I-131) can be used to treat thyroid cancer. Radioactive iodine when absorbed in the thyroid gland destroys cancer cells without harming rest of the body cells.
- Thyroid hormone therapy helps in replacing the thyroid hormones that were no more produced in the body post thyroidectomy. This helps in maintaining normal metabolism and possibly lower risk of the cancer recurrence by keeping the levels of TSH secreted from pituitary low.
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North America to Lead Global Papillary Thyroid Carcinoma Treatment Market
- The global papillary thyroid carcinoma treatment market can be segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa
- North America is projected to dominate the global market during the forecast period. This is due to high adoption of advanced treatment approaches and high prevalence of papillary thyroid carcinoma. Favorable reimbursement landscape, aggressive awareness programs, better diagnostic measures, and presence of major advanced therapy brands make North America the most promising market for papillary thyroid carcinoma treatment.
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Key Players Operating in Global Papillary Thyroid Carcinoma Treatment Market
Key players in the global papillary thyroid carcinoma treatment market are:
- Eli Lilly and Company
- Teva Pharmaceutical Industries Ltd.
- Pfizer, Inc.
- Varian Medical Systems, Inc.
- Siemens Healthineers AG
- Accuray Incorporated
- Koninklijke Philips N.V.
- Elekta AB
- GE Healthcare
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