PUBLISHER: Grand View Research | PRODUCT CODE: 1726373
PUBLISHER: Grand View Research | PRODUCT CODE: 1726373
The global thyroid cancer diagnostics market is anticipated to reach USD 4.13 billion by 2030 and is anticipated to expand at a CAGR of 5.3% over the forecast period, according to a new report by Grand View Research, Inc. The growth of the market is attributed to increasing disease prevalence and the emergence of novel diagnostic products. Although cancer is uncommon worldwide, the incidence rate is on the rise-driven by more sensitive and precise tools to diagnose the disease. It develops as a result of abnormal cell division in the thyroid gland. Since the glandular hormones regulate several functions, such as weight, body temperature, heart rate, and blood pressure, structural or functional anomalies are likely to affect several or all of the aforementioned factors.
Growing awareness and public health initiatives encourage more individuals, especially those at higher risk, to seek screening. This, combined with expanding healthcare infrastructure and increased healthcare spending worldwide, facilitates greater access to advanced diagnostic services. Regulatory support and ongoing research efforts are fostering the introduction of innovative diagnostic solutions, including liquid biopsies and artificial intelligence-driven imaging analysis.
The market has undergone a paradigm shift over the last few years, driven by the introduction of biomarkers and the launch of improved diagnostic products. However, disease progression and recurrence remain high, especially among older patients. Strong unmet needs present a key opportunity to develop breakthrough, first-in-class diagnostics of the disease.