Anaplastic Thyroid Cancer Drugs Market Analysis North America, Europe, Asia, Rest of World (ROW) - US, Canada, Italy, China, India - Size and Forecast 2024-2028

Anaplastic Thyroid Cancer Drugs Market 2024-2028

The global anaplastic thyroid cancer drugs market size is estimated to grow by USD 300.7 million at a CAGR of 6.41% between 2023 and 2028. 

Although there are many approved therapies for thyroid cancer, there were no approved therapies for anaplastic thyroid cancer until last year. Also, off-label therapies such as chemotherapies have some limitations. Most of the available off-label therapies have adverse effects, which reduce patient adherence to the treatment. Most cases of anaplastic thyroid cancer are caused by mutations of the BRAF gene. Further, the growing R&D in this space and positive clinical trial results of late-stage molecules support the growth prospects of the anaplastic thyroid cancer drugs market. For instance, NEXAVAR, a therapeutic candidate of Bayer, has already been approved for thyroid cancer and is under development for the treatment of anaplastic thyroid cancer. Such strong research and the recent launch of these target-specific molecules support the growth of the market during the forecast period.

Technavio has segmented the market into End-user, Product, and Geography 

• The End-user segment is classified into hospitals, clinics, and others
• The Product segment is classified into chemotherapy and novel therapy
• The geography segment includes key regions such as North America, Europe, Asia, and Rest of World (ROW)

It also includes an in-depth analysis of drivers, trends, and challenges. Our report examines historical data from 2018-2022, besides analyzing the current market scenario. 

What will be the size of the Anaplastic Thyroid Cancer Drugs Market During the Forecast Period?

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Anaplastic Thyroid Cancer Drugs Market Segmentation by End-user, Product and Geography Analysis

End-user Analysis

Hospitals

The market share growth by the hospitals segment will be significant during the forecast period. The hospital segment plays a crucial role in the global anaplastic thyroid cancer drugs market. Anaplastic thyroid cancer is a rare and aggressive form of thyroid cancer that requires specialized medical care and treatment. Hospitals are primary healthcare institutions equipped with advanced infrastructure and facilities to diagnose, treat, and manage such complex diseases. 

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The hospital segment was the largest and was valued at USD 508.41 million in 2018. Moreover, hospitals serve as research centers and participate in clinical trials to assess the efficacy and safety of new drugs and treatment approaches for anaplastic thyroid cancer. Their involvement in these trials contributes to advancements in medical knowledge and the development of innovative therapies. Furthermore, hospitals serve as the primary providers of medical care, drug administration, research, and patient support for individuals suffering from this aggressive form of thyroid cancer. Their expertise and comprehensive services are vital in improving patient outcomes and advancing the field of anaplastic thyroid cancer treatment. Therefore, it is evident that the hospital segment will grow significantly in the anaplastic thyroid cancer drugs market during the forecast period.

Product Analysis

Chemotherapy

Chemotherapy is a type of cancer treatment that uses one or more anti-cancer drugs as a part of the standardized treatment. Chemotherapy is used as a curative treatment; it includes a single drug or combination of drugs. If it is not intended to cure the disease, it will at least help in prolonging life or reducing symptoms, which is also known as palliative chemotherapy. Chemotherapy is one of the major treatment types in the treatment landscape of anaplastic thyroid cancer. Although there are no approved chemotherapeutics for the treatment of anaplastic thyroid cancer, the treatment type is comparatively older than novel therapy. Hence, it has a larger adoption rate when compared to novel therapeutics, which is expected to help the chemotherapy segment maintain its dominant position, which in turn will drive the growth of the market during the forecast period.

Novel therapy

The novel therapy segment consists of targeted therapies and immunotherapies. In the past, people with anaplastic thyroid cancer were always dependent on invasive treatment options such as surgery and radiation therapies. Also, the use of off-label chemotherapeutics did not meet expectations. However, the market has witnessed the approval of novel targeted therapies that address the unmet need present in the market for the treatment of anaplastic thyroid cancer. Furthermore, the mechanism of action (MoA) of such drug class is target-specific, which makes it a potential single solution for various cancer indications, including anaplastic thyroid cancer, among medical practitioners and patients. Such advantages of novel therapies are expected to drive the growth

Regional Analysis

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North America is estimated to contribute 38% to the growth of the global market during the forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers that will shape the market during the forecast period. The market growth in North America is primarily attributed to the increased cases of thyroid cancer in the region. The prevalence of thyroid cancer is increasing in the region. For instance, according to the Centers for Disease Control and Prevention (CDC), about 12,000 men and 36,000 women are affected by thyroid cancer, and more than 900 men and 1,000 women die from the disease every year. In 2021, almost 43,800 adults in the US were diagnosed with thyroid cancer. Further, new research activities related to the establishment of innovative treatment methods, such as immunotherapy and targeted therapy, are also expected to drive the growth of the market in this region.

For instance, on September 17, 2021, the Food and Drug Administration (FDA) licensed cabozantinib (Cabometyx, Exelixis, Inc.) in the US for pediatric patients aged 12 and above to 70 who have locally advanced or metastatic differentiated thyroid cancer (DTC) and are ineligible or resistant to radioactive iodine. Thus, such developments in the diagnosis and treatment of thyroid cancer fueled the demand for anaplastic thyroid cancer drugs in North America, which in turn will foster the growth of the market in this region during the forecast period.

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Key Anaplastic Thyroid Cancer Drugs Market Players 

Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market. The report also includes detailed analyses of the competitive landscape of the market and information about 8 market companies, including:

Bayer AG  - The company offers anaplastic thyroid cancer drugs such as Larotrectinib sulfate, an anti-neoplastic agent. It is formulated as the solution and hard gelatin capsules for the oral route of administration.

• Bristol Myers Squibb Co.
• Daiichi Sankyo Co. Ltd.
• Eisai Co. Ltd.
• Exelixis Inc.
• Merck KGaA
• Novartis AG
• Verastem Inc.

Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.

Anaplastic Thyroid Cancer Drugs Market: Key Drivers, Trends, Challenges, and Customer Landscape

There are multiple factors influencing market growth. Our researchers analyzed the data with 2023 as the base year, along with the key drivers, trends, and challenges. 

Key Anaplastic Thyroid Cancer Drugs Market Drivers

The rising geriatric population is notably driving the market growth. Anaplastic thyroid cancer tends to occur in geriatric people and is very uncommonly diagnosed in younger adults. The peak age of discovery of anaplastic thyroid cancer is above 65 years. Globally, the developments in the healthcare infrastructure and advanced treatment options have increased the life expectancy of the geriatric population. The rising awareness about various health conditions has significantly contributed to higher life expectancy. 

Moreover, the old-age dependency ratio, which measures the number of retired people to the number of working people, has also increased in recent years. For instance, according to the US Census Bureau, by 2030, the number of people aged above 65 years will increase to a great extent in the US. Therefore, the growing older population will bolster the sales of various drugs for the treatment of anaplastic thyroid cancer and will drive the growth of the market during the forecast period.

Significant Anaplastic Thyroid Cancer Drugs Market Trends

Favourable reimbursement policies for chemotherapy are an emerging trend shaping the market growth. However, the high cost of these drugs remains a challenge for patients as well as the healthcare system. To overcome this challenge, many governments and NGOs are focusing on providing financial assistance and clinical assistance for the treatment of various cancer indications, including metastatic conditions such as anaplastic thyroid cancer. Such reimbursement policies encourage more patients to avail themselves of the required treatment, resulting in a wider patient base. This also helps them adhere to the treatment regimen, even if it goes into a long-term tenure, which supports the growth of the anaplastic thyroid cancer drugs market.

For instance, the Centers for Medicare and Medicaid Services (CMS) provides a policy termed Medicare. It is a national health insurance program in the US. Along with various other diseases, it also covers cancer treatment provided using chemotherapeutics. Thus, the Reimbursement policies for chemotherapy will drive the growth of the market during the forecast period.

Major Anaplastic Thyroid Cancer Drugs Market Challenges

Stringent regulations in the approval of anaplastic thyroid cancer drugs is a significant challenge hindering the market growth. The market has some approved drugs for the treatment of anaplastic thyroid cancer. Regulatory bodies such as the US FDA and the European Medicines Agency (EMA) have stringent regulations for providing marketing approval for drugs. These stringent regulations are expected to limit the growth of the market during the forecast period. An applicant needs to provide all the information about the therapeutic candidate under development to regulatory bodies, which is called a new drug application (NDA). 

Moreover, the US FDA has increased the regulatory surveillance for drugs treating carcinomas to avoid associated risks. Hence, a failure in drug performance can result in a delay in receiving marketing approval. Thus, stringent regulations in the manufacture of thyroid cancer drugs will hamper the growth of the global anaplastic thyroid cancer drugs market during the forecast period.

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Key Anaplastic Thyroid Cancer Drugs Market Customer Landscape

The market report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.

Global Anaplastic Thyroid Cancer Drugs Market Customer Landscape

Segment Overview

The anaplastic thyroid cancer drugs market report forecasts market growth by revenue at global, regional & country levels and provides an analysis of the latest trends and growth opportunities from 2018 to 2028. 

• End-user Outlook
  • Hospitals
  • Clinics
  • Others

• Product Outlook
  • Chemotherapy
  • Novel therapy

• Region Outlook
  • North America
    • The U.S.
    • Canada
  • Europe
    • U.K.
    • Germany
    • France
    • Rest of Europe
  • Asia
    • China
    • India
  • Rest of World (ROW)
    • Brazil
    • Argentina
    • Australia

Anaplastic Thyroid Cancer Drugs Market Scope
Report Coverage	Details
Page number	151
Base year	2023
Historic period	2018-2022
Forecast period	2024-2028
Growth momentum & CAGR	Accelerate at a CAGR of 6.41%
Market Growth 2024-2028	USD 300.7 million
Market structure	Concentrated
YoY growth 2023-2024(%)	5.55
Regional analysis	North America, Europe, Asia, and Rest of World (ROW)
Performing market contribution	North America at 38%
Key countries	US, Canada, Italy, China, and India
Competitive landscape	Leading Vendors, Market Positioning of Vendors, Competitive Strategies, and Industry Risks
Key companies profiled	Bayer AG, Bristol Myers Squibb Co., Daiichi Sankyo Co. Ltd., Eisai Co. Ltd., Exelixis Inc., Merck KGaA, Novartis AG, and Verastem Inc.
Market dynamics	Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for the forecast period
Customization purview	If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.

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What are the Key Data Covered in this Anaplastic Thyroid Cancer Drugs Market Research Report?

• CAGR of the market during the forecast period
• Detailed information on factors that will drive the growth of the anaplastic thyroid cancer drugs market between 2024 and 2028
• Precise estimation of the anaplastic thyroid cancer drugs market size and its contribution of the market in focus to the parent market
• Detailed analysis of customer landscape covering Diver of price sensitivity, Adoption of the lifecycle, and key purchase criteria 
• Companies landscape comparing criticality of inputs and factors of differentiation
• Exclusive Matrix on companies position and classification
• Accurate predictions about upcoming trends and changes in consumer behavior
• Growth of the market across North America, Europe, Asia, and Rest of World (ROW)
• Thorough analysis of the market’s competitive landscape and detailed information about companies
• Comprehensive analysis of factors that will challenge the growth of anaplastic thyroid cancer drugs market companies

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