Medullary Thyroid Cancer Drugs Market driven by increasing number of thyroidectomy procedures
Medullary thyroid cancer (MTC) drugs are used for the treatment of an uncommon type of thyroid cancer that begins in the parafollicular C cells (C cells make calcitonin) of the thyroid gland. MTC accounts for about 5% of all thyroid cancers. Signs and symptoms of MTC include a lump in the neck, sometimes pain in the neck or throat, and symptoms caused by excess calcitonin or other hormones produced by the tumor. Medullary thyroid cancer drugs work by inhibiting or destroying cancer cells. Some common MTC drugs include vandetanib, captexabtagene bilastine, and larotrectinib.
The medullary thyroid cancer drugs market is estimated to be valued at USD 156 Mn in 2024 and is expected to reach USD 315 Mn by 2031, growing at a compound annual growth rate (CAGR) of 10.6% from 2024 to 2031.
The demand for Medullary Thyroid Cancer Drugs Market is growing significantly due to the increasing prevalence of thyroid cancer globally. According to the American Cancer Society, it is estimated that about 52,890 new cases of thyroid cancer will be diagnosed in the United States in 2022. The rising cancer cases are expected to propel the growth of the medullary thyroid cancer drugs market during the forecast period.
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