Hypothyroidism disorder, also known as underactive thyroid disease, is a common disorder caused by a lack of or inefficient secretion of the thyroid hormone by the thyroid gland. It results in inadequate levels of the hormone in the body. The thyroid gland is located at the front lower part of the neck. The thyroid hormone secreted by the gland affects every part of the body including muscles, skin, heart, and brain. As per a report published by the American Association of Clinical Endocrinologists (AACE), out of 27 million people suffering from thyroid disorders, most suffer from hypothyroidism, while autoimmune thyroiditis is the most common cause. Other causes that might lead to hypothyroidism disorder include too much or too little iodine intake, surgery of thyroid gland, damage to the pituitary gland, rare disorders that infiltrate the thyroid, radiation treatment, congenital hypothyroidism, and thyroiditis medicines. In early stages, hypothyroidism disorder may reflect few symptoms. However, with time the symptoms may increase as thyroid hormone secretion decreases significantly and the body’s metabolism slows down. Common symptoms of hypothyroidism disorder include difficulty with learning; dry, itchy skin; dry, brittle hair and nails; constipation; drowsiness; heavy and/or irregular menstrual flow; increased sensitivity to many medications; increased frequency of miscarriages; forgetfulness; pervasive fatigue; puffy face; sore muscles; weight gain; and fluid retention.
There is no cure for hypothyroidism disorder, but it can be easily controlled by hormone replacement therapy, which brings the thyroid hormone level back to normal. The therapy has been used for more than a century for treating hypothyroidism disorder. The first synthetic molecule used for treatment of hypothyroidism disorder was L-Thyroxine (T4). Before the discovery of this molecule, desiccated thyroid extracted from animals was the only available treatment for hypothyroidism disorder. Levothyroxine sodium tablets were first approved as a novel drug in 1997 by the U.S. FDA, but was an unapproved marketed drug till August 2000. Synthetic T4 hormone contains thyroxine that is produced by a normal thyroid hormone. Currently, six brands of synthetic T4 have been approved by the FDA for standard treatment of hypothyroidism disorder including, Levo-T, Levothyroxine Sodium, Levoxyl, Novothyrox, Synthroid, and Unithroid.Moreover, use of T3 drug Cytomel has proved to be beneficial for patients who face difficulty with use of synthetic T4 pills. All hypothyroid patients are generally treated as outpatients, except for those suffering from myxedema.
Lack of awareness or inaccurate diagnosis leads to failure of timely treatment and management of hypothyroidism, which is a major restraint for the hypothyroidism disorder treatment market. For instance, according to the National Health and Nutrition Examination Survey (NHANES ) in2016, out of 17,353 patients, about 9.2% had clinically significant thyroid disorder based on chemical test criteria. According to the American Thyroid Association annual report in 2015, it was estimated that approximately 20 million Americans had a thyroid disorder, and about 60% of them were unaware of their clinical condition due to the non-specific nature of symptoms. Patients also had a tendency to downplay the symptoms. Pharmaceutical companies, however, are dedicated to research and development of novel diagnosis and drugs that prove beneficial for hypothyroid disorder management. Thus, approval of many novel drugs for hypothyroidism disorder in the near future is expected to propel the hypothyroidism disorder treatment market during the forecast period.
The hypothyroidism disorder treatment market can be segmented based on drug type, distribution channel, and region. Based on drug type, the hypothyroidism disorder treatment market can be categorized into synthetic levothyroxine (L-T4) and L-triiodothyronine (T-3). In terms of distribution channel, the hypothyroidism disorder treatment market can be split into drug stores, hospital pharmacy, online pharmacy, retail pharmacy, and others.. Based on region, the hypothyroidism disorder treatment market can be classified into Asia Pacific, Europe, Middle East & Africa, North America, and Latin America. Key players in the hypothyroidism disorder treatment market are Abbott Laboratories (AbbVie), Alara Pharm, Manus Aktteva Biopharma LLP, MOVA Pharmaceutical, Pfizer Inc, Merck KGaA, and other prominent players.
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- Customer Experience Maps
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The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
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Below is a snapshot of these quadrants.
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The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
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