Medullary Thyroid Cancer Market – Global Industry Size, Share, Trends, Opportunity, & Forecast, Segmented By Treatment (Surgery, Radiation Therapy, Chemotherapy), By End-User (Hospitals, Radiation Therapy Center, Cancer Research Institutes), By Region, & Competition, 2021-2031F

Forecast Period	2027-2031
Market Size (2025)	USD 1.48 Billion
CAGR (2026-2031)	8.54%
Fastest Growing Segment	Surgery
Largest Market	North America
Market Size (2031)	USD 2.42 Billion

Market Overview

The Global Medullary Thyroid Cancer Market will grow from USD 1.48 Billion in 2025 to USD 2.42 Billion by 2031 at a 8.54% CAGR. The Global Medullary Thyroid Cancer Market encompasses the development and commercialization of specialized diagnostic and therapeutic interventions, specifically tyrosine kinase inhibitors and chemotherapy, intended to treat neuroendocrine tumors arising from parafollicular C cells. The primary drivers supporting market growth include the increasing regulatory approval of targeted therapies that address RET genetic mutations and the enhanced adoption of genomic screening which facilitates early patient identification. According to the American Cancer Society, in 2025, approximately 44,020 new cases of thyroid cancer are projected in the United States, underscoring the persistent clinical need for effective management strategies across all disease subtypes.

However, the expansion of this market is significantly challenged by the prohibitive costs associated with novel orphan drugs which create substantial reimbursement barriers in price-sensitive healthcare systems. This financial toxicity limits widespread patient access to premium precision medicines and impedes the ability of manufacturers to scale revenue in developing geographical regions.

Key Market Drivers

Advancements in Targeted Therapeutic Development and Approvals serve as a primary catalyst for the Global Medullary Thyroid Cancer Market, fundamentally shifting treatment paradigms from palliative care to precision oncology. The market is increasingly defined by the commercialization of tyrosine kinase inhibitors that specifically inhibit RET proto-oncogene mutations, which drive a significant proportion of medullary thyroid carcinoma cases. This transition to targeted modalities is supported by the sustained revenue performance of approved orphan drugs. According to Exelixis, February 2025, in the 'Fourth Quarter and Fiscal Year 2024 Financial Results', the company’s dedicated medullary thyroid cancer therapy, Cometriq, generated $11.2 million in U.S. net product revenues for the fiscal year 2024. Such financial results highlight the market viability of specialized treatments, encouraging manufacturers to maintain stable supply chains for this niche patient population.

Increasing Research and Development Investments in Oncology act as the second major driver, facilitating the high-cost clinical trials required to bring these novel agents to regulatory fruition. Biopharmaceutical companies are allocating substantial capital to expand their pipelines, driven by the clinical urgency to address the disease's high mortality rate relative to other thyroid malignancies. According to the American Cancer Society, in 2025, approximately 2,290 deaths from thyroid cancer are projected in the United States, underscoring the persistent need for more effective therapeutic interventions. Consequently, industry leaders are intensifying their spending to innovate within this space. For instance, according to Exelixis, October 2024, in the 'Third Quarter 2024 Financial Results', the company updated its full-year guidance for research and development expenses to a range of up to $950 million, reflecting the significant resource commitment necessary to advance oncology development programs.

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Key Market Challenges

The prohibitive cost associated with novel orphan drugs represents a significant barrier to the expansion of the Global Medullary Thyroid Cancer Market. This financial toxicity creates substantial reimbursement challenges, particularly in healthcare systems with stringent budget constraints or limited public funding. Manufacturers of precision medicines, such as tyrosine kinase inhibitors, often set premium prices to recover research and development expenditures for this rare disease. Consequently, payers frequently impose strict prior authorization requirements or deny coverage, which directly limits patient access to these advanced therapeutic interventions and hampers the commercial uptake of new products.

The market impact is further intensified by the rarity of the condition, which classifies these treatments as orphan drugs with inherently higher per-unit costs. According to the American Thyroid Association, in 2025, Medullary Thyroid Cancer accounted for approximately 1% to 2% of all thyroid cancer cases in the United States. This low prevalence reinforces the niche nature of the market, making it difficult for pharmaceutical companies to achieve economies of scale. Ultimately, these economic pressures restrict revenue growth in developing regions and prevent the widespread adoption of effective management strategies.

Key Market Trends

Advancement of Peptide Receptor Radionuclide Therapy for Metastatic Cases is emerging as a pivotal trend, offering a potent therapeutic alternative for patients with progressive disease who are refractory to conventional tyrosine kinase inhibitors. This modality exploits the high expression of somatostatin receptors on medullary thyroid carcinoma cells to deliver targeted cytotoxic radiation, thereby minimizing systemic toxicity. The industry’s commitment to this innovative approach is evidenced by substantial capital inflows aimed at accelerating clinical pipelines. For instance, according to ITM Isotope Technologies Munich SE, June 2024, in the press release 'ITM Raises €188m to Enhance Radiopharmaceutical Pipeline and to Strengthen Leading Position in Medical Radioisotope Manufacturing', the company secured an equity investment of €188 million to advance its radiopharmaceutical candidates, reflecting growing commercial confidence in targeted radionuclide interventions.

Simultaneously, the Widespread Adoption of Highly Selective RET Kinase Inhibitors is reshaping the market by replacing non-specific multikinase agents with precision medicines that demonstrate superior safety profiles. Unlike legacy therapies that inhibit multiple pathways, these next-generation drugs specifically target RET alterations, leading to improved patient compliance and sustained clinical responses. This shift towards highly specific modalities is substantiated by the robust commercial uptake of recently acquired assets in the space. According to Rigel Pharmaceuticals, November 2024, in the 'Third Quarter 2024 Financial Results', the company reported that its selective RET inhibitor, Gavreto, generated $7.1 million in net product sales, underscoring the rapid market penetration and revenue potential of these specialized precision oncology treatments.

Segmental Insights

Based on trusted market analysis, the Surgery segment is currently the fastest-growing category within the Global Medullary Thyroid Cancer Market. This rapid expansion is primarily driven by the fact that total thyroidectomy remains the only potentially curative treatment for locoregional disease. The segment’s growth is further accelerated by the increasing adoption of prophylactic surgeries for individuals identified with high-risk hereditary traits, such as RET proto-oncogene mutations. Clinical guidelines from the National Comprehensive Cancer Network (NCCN) and the American Thyroid Association (ATA) firmly establish surgical intervention as the standard of care, reinforcing its dominance and continuous demand amidst rising early-stage diagnoses.

Regional Insights

North America leads the Global Medullary Thyroid Cancer Market, primarily driven by the rising incidence of the condition and a highly developed healthcare infrastructure. The region benefits from the active presence of major pharmaceutical companies focused on innovation in targeted therapies. Additionally, the U.S. Food and Drug Administration plays a crucial role by providing regulatory pathways that accelerate the approval of new drugs. Comprehensive reimbursement policies and elevated awareness among medical professionals regarding early detection methods further sustain the region's market superiority.

Recent Developments

• In September 2024, Eli Lilly and Company announced that the U.S. Food and Drug Administration (FDA) granted traditional approval to its selective RET kinase inhibitor for the treatment of adult and pediatric patients two years of age and older with advanced or metastatic medullary thyroid cancer (MTC) harboring a RET mutation. This regulatory decision converted the previous accelerated approval to a full approval based on data from the Phase 3 LIBRETTO-531 clinical trial. The study demonstrated that the treatment significantly improved progression-free survival compared to the standard multikinase inhibitors, cabozantinib or vandetanib, establishing it as a preferred therapeutic option in this genetic subtype.
• In May 2024, Veracyte, Inc. highlighted new research demonstrating the utility of its genomic sequencing classifier platform at the ENDO 2024 Annual Meeting. The company presented data utilizing its Afirma Genomic Resource for Intelligent Discovery (GRID) tool, which helps physicians better understand the molecular landscape of thyroid tumors. The research focused on novel molecular signatures and alterations that could provide more granular prognostic information for thyroid nodules. This development is significant for the thyroid cancer market as it supports the advancement of personalized care and precise identification of malignancies, including complex cases relevant to medullary thyroid cancer management.
• In May 2024, Eli Lilly and Company received accelerated approval from the U.S. FDA for its RET inhibitor, Retevmo, for the treatment of pediatric patients two years of age and older with advanced or metastatic RET-mutant medullary thyroid cancer. This approval marked the first FDA-authorized targeted therapy specifically for children under twelve years old with RET-altered solid tumors. The decision was supported by the LIBRETTO-121 clinical trial, which evaluated the safety and efficacy of the drug in a younger population, addressing a critical unmet medical need for pediatric patients facing this aggressive form of thyroid cancer.
• In March 2024, the Committee for Medicinal Products for Human Use (CHMP) of the European Medicines Agency (EMA) adopted a positive opinion recommending an update to the marketing authorization for Retsevmo (selpercatinib). The opinion endorsed the use of the therapy as a monotherapy for the treatment of adults and adolescents twelve years and older with advanced RET-mutant medullary thyroid cancer (MTC). This regulatory milestone was based on the confirmatory results from the LIBRETTO-531 trial, which showed superior efficacy and a favorable safety profile compared to existing standard-of-care treatments, thereby reinforcing the drug's position in the European market for this rare malignancy.

Key Market Players

• AstraZeneca PLC
• Sanofi AG
• Eli Lilly and Company
• Exelixis, Inc.
• F. Hoffmann-La Roche Ltd
• Novartis AG
• Merck & Co., Inc
• Bayer AG
• HUTCHMED Ltd.
• Bristol-Myers Squibb Co.

By Treatment	By End-User	By Region
Surgery Radiation Therapy Chemotherapy	Hospitals Radiation Therapy Center Cancer Research Institutes	North America Europe Asia Pacific South America Middle East & Africa

Report Scope:

In this report, the Global Medullary Thyroid Cancer Market has been segmented into the following categories, in addition to the industry trends which have also been detailed below:

• Medullary Thyroid Cancer Market, By Treatment:

• Surgery
• Radiation Therapy
• Chemotherapy

• Medullary Thyroid Cancer Market, By End-User:

• Hospitals
• Radiation Therapy Center
• Cancer Research Institutes

• Medullary Thyroid Cancer Market, By Region:

• North America
• United States
• Canada
• Mexico
• Europe
• France
• United Kingdom
• Italy
• Germany
• Spain
• Asia Pacific
• China
• India
• Japan
• Australia
• South Korea
• South America
• Brazil
• Argentina
• Colombia
• Middle East & Africa
• South Africa
• Saudi Arabia
• UAE