LONDON--(BUSINESS WIRE)--The global anaplastic thyroid cancer drugs market is expected to post a CAGR of more than 4% during the period 2019-2023, according to the latest market research report by Technavio.
Most of the available off-label therapies, such as chemotherapies have adverse effects, which reduce patient adherence to the treatment. As a result, exhaustive research has been carried out to develop targeted therapies such as B-Rapidly Accelerated Fibrosarcoma (BRAF) kinase inhibitors which are believed to be a suitable solution for cancer treatment owing to their proven efficacy. Targeted therapies have emerged as a prevailing class of therapeutics, acting through the regulation of specific proteins and protein targets. The growing R&D in this space and positive clinical trial results of late-stage molecules is expected to fuel the growth of the global anaplastic thyroid cancer drugs market.
As per Technavio, the presence of reimbursement policies for chemotherapy will have a positive impact on the market and contribute to its growth significantly over the forecast period. This global anaplastic thyroid cancer drugs market 2019-2023 research report also analyzes other important trends and market drivers that will affect market growth over 2019-2023.
Global anaplastic thyroid cancer drugs market: Presence of reimbursement policies for chemotherapy
Chemotherapeutics such as doxorubicin, cisplatin, and paclitaxel are the most commonly used off-label therapies for the treatment of anaplastic thyroid cancer. However, the cost of these therapeutics is extremely high, posing a major challenge for patients as well as the healthcare system. Therefore, many governments and NGOs are 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 the required treatment, resulting in a wider patient base. Therefore, the presence of reimbursement policies for chemotherapy will positively impact the anaplastic thyroid cancer drugs market growth during the forecast period.
“Apart from the presence of reimbursement policies for chemotherapy, other factors such as growing awareness about thyroid cancer, rising geriatric population, and strong pipeline will have a significant impact on the growth of the anaplastic thyroid cancer drugs market size during the forecast period,” says a senior analyst at Technavio.
Global anaplastic thyroid cancer drugs market: Segmentation analysis
This market research report segments the global anaplastic thyroid cancer drugs market by product (chemotherapy, and novel therapy), and geographic regions (North America, Europe, Asia, and ROW).
The North American region led the anaplastic thyroid cancer drugs market in 2018, followed by Europe, Asia, and ROW, respectively. The growth of the anaplastic thyroid cancer drugs market in North America can be attributed to the increasing cases of thyroid cancer in the region, and new research activities related to the establishment of innovative treatment methods such as immunotherapy and targeted therapy.
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