Thyroid Gland Disorders Treatment Market - Growth, Trends, COVID-19 Impact, and Forecasts (2021 - 2026)

The Thyroid Gland Disorders Treatment Market is Segmented by Type of Disorder (Hypothyroidism, Hyperthyroidism, Other Types of Disorder), Route of Administration, Drug Class, Distribution Channel, and Geography.

Market Snapshot

Thyroid Gland Disorders-1
Study Period: 2018 - 2026
Base Year: 2020
Fastest Growing Market: Asia Pacific
Largest Market: North America
CAGR: 3.5 %

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Market Overview

The market for thyroid gland disorders treatment is primarily driven by the increasing burden of the patient population with iodine deficiency. One of the most common causes of iodine deficiency is very less good sources of iodine in the diet. As per the World Health Organization (WHO), the recommended daily intake (RDI) of iodine is 150 mcg per day, which is sufficient for more than 95% of all healthy adults, with pregnant and lactating women needing more. Iodine deficiency is increasingly common among the European countries, as well as in the low- and middle-income countries in Asia-Pacific and Africa. The National Institute of Health has stated that the prevalence of iodine deficiency is higher in the mountainous regions of the United States and Mexico, where more number of people are falling prey to thyroid diseases.

Additionally, the rise in the consumption of alcohol and tobacco is also leading to thyroid disorders in the developing regions, which is one of the driving factors for the market studied.

Scope of the Report

The inefficiency of the thyroid gland to produce enough thyroid hormones leads to various kinds of thyroid gland-related disorders.

By Type of Disorder
Hypothyroidism
Hyperthyroidism
Other Types of Disorder
By Route of Administration
Oral
Parenteral
Other Routes of Administration
By Drug Class
Thioamides
Ionic Inhibitors
Hormone-release Inhibitors
Other Drug Classes
By Distribution Channel
Wholesale Distribution
Retail Stores
Online Pharmacy
Geography
North America
United States
Canada
Mexico
Europe
Germany
United Kingdom
France
Italy
Spain
Rest of Europe
Asia-Pacific
China
Japan
India
Australia
South Korea
Rest of Asia-Pacific
Middle-East & Africa
GCC
South Africa
Rest of Middle-East & Africa
South America
Brazil
Argentina
Rest of South America

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Key Market Trends

Hyperthyroidism is Expected to Witness Rapid Growth

Hyperthyroidism is a condition in which, the thyroid gland produces thyroxin in excess amount. As per the National Institute of Health, an estimated prevalence of the disease is around 1-1.3%, and it increases up to 4-5% in older women. Moreover, the disease more commonly occurs in smokers.

Since smoking is increasing among the general population across the world, an increasing number of people are falling prey to the disease. Also, the awareness regarding hyperthyroidism is increasing in developing countries, such as India, which is ultimately driving the growth of the market studied. Furthermore, the easy availability of antithyroid medications for hyperthyroidism is fueling the market.

1

North America May Dominate the Market

According to the estimates, about 35 million people in North America suffer from at least one form of thyroid disease. Several companies have collaborated with ATA (America Thyroid Association), as the association has supported several research grants worth about USD 2.2 million. In addition, multinational companies are frequently involved in raising awareness in the American society through campaigns. For instance, Merck launched “It is not you. It is your thyroid” campaign in 2017 and 2018. The annual awareness campaign is in collaboration with the Thyroid Federation International (TFI), as it is observed by companies that the thyroid disorders are still poorly understood and often go underdiagnosed. The increased health infrastructure and high government involvement in the management of thyroid diseases make North America a major revenue contributor to the market studied.

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Competitive Landscape

The market for thyroid gland disorder treatment is moderately competitive and majorly consists of the global players. The rising innovations in therapeutics may witness the entry of few small- or mid-sized companies in the market, in the coming future.

Table of Contents

  1. 1. INTRODUCTION

    1. 1.1 Study Deliverables

    2. 1.2 Study Assumptions

    3. 1.3 Scope of the Study

  2. 2. RESEARCH METHODOLOGY

  3. 3. EXECUTIVE SUMMARY

  4. 4. MARKET DYNAMICS

    1. 4.1 Market Overview

    2. 4.2 Market Drivers

      1. 4.2.1 Growing Patient Population with Iodine Deficiency

      2. 4.2.2 Rising Government Initiatives for Thyroid Gland Screening and Treatment

    3. 4.3 Market Restraints

      1. 4.3.1 Unfavourable Healthcare Reforms in Some Regions

      2. 4.3.2 Alternative Herbal and Acupuncture Therapies

    4. 4.4 Porter's Five Forces Analysis

      1. 4.4.1 Threat of New Entrants

      2. 4.4.2 Bargaining Power of Buyers/Consumers

      3. 4.4.3 Bargaining Power of Suppliers

      4. 4.4.4 Threat of Substitute Products

      5. 4.4.5 Intensity of Competitive Rivalry

  5. 5. MARKET SEGMENTATION

    1. 5.1 By Type of Disorder

      1. 5.1.1 Hypothyroidism

      2. 5.1.2 Hyperthyroidism

      3. 5.1.3 Other Types of Disorder

    2. 5.2 By Route of Administration

      1. 5.2.1 Oral

      2. 5.2.2 Parenteral

      3. 5.2.3 Other Routes of Administration

    3. 5.3 By Drug Class

      1. 5.3.1 Thioamides

      2. 5.3.2 Ionic Inhibitors

      3. 5.3.3 Hormone-release Inhibitors

      4. 5.3.4 Other Drug Classes

    4. 5.4 By Distribution Channel

      1. 5.4.1 Wholesale Distribution

      2. 5.4.2 Retail Stores

      3. 5.4.3 Online Pharmacy

    5. 5.5 Geography

      1. 5.5.1 North America

        1. 5.5.1.1 United States

        2. 5.5.1.2 Canada

        3. 5.5.1.3 Mexico

      2. 5.5.2 Europe

        1. 5.5.2.1 Germany

        2. 5.5.2.2 United Kingdom

        3. 5.5.2.3 France

        4. 5.5.2.4 Italy

        5. 5.5.2.5 Spain

        6. 5.5.2.6 Rest of Europe

      3. 5.5.3 Asia-Pacific

        1. 5.5.3.1 China

        2. 5.5.3.2 Japan

        3. 5.5.3.3 India

        4. 5.5.3.4 Australia

        5. 5.5.3.5 South Korea

        6. 5.5.3.6 Rest of Asia-Pacific

      4. 5.5.4 Middle-East & Africa

        1. 5.5.4.1 GCC

        2. 5.5.4.2 South Africa

        3. 5.5.4.3 Rest of Middle-East & Africa

      5. 5.5.5 South America

        1. 5.5.5.1 Brazil

        2. 5.5.5.2 Argentina

        3. 5.5.5.3 Rest of South America

  6. 6. COMPETITIVE LANDSCAPE

    1. 6.1 Company Profiles

      1. 6.1.1 Abbvie Inc.

      2. 6.1.2 Amgen Inc.

      3. 6.1.3 GlaxoSmithKline PLC

      4. 6.1.4 Merck KGaA

      5. 6.1.5 Mylan NV

      6. 6.1.6 Novartis AG

      7. 6.1.7 Pfizer Inc.

      8. 6.1.8 Takeda Pharmaceutical Company Limited

      9. 6.1.9 Elexis Inc.

      10. 6.1.10 IBSA Pharma (IBSA Group)

    2. *List Not Exhaustive
  7. 7. MARKET OPPORTUNITIES AND FUTURE TRENDS

**Subject to Availability
**Competitive Landscape Covers - Business Overview, Financials, Products and Strategies, and Recent Developments

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Frequently Asked Questions

The Thyroid Gland Disorders Treatment Market market is studied from 2018 - 2026.

The Thyroid Gland Disorders Treatment Market is growing at a CAGR of 3.5% over the next 5 years.

Asia Pacific is growing at the highest CAGR over 2021- 2026.

North America holds highest share in 2020.

Abbvie Inc., Merck KGaA, Mylan NV, Pfizer Inc., Exelixis Inc. are the major companies operating in Thyroid Gland Disorders Treatment Market.

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