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High Prevalence of Thyroid Disorders to Push Global Thyroid Gland Disorder Market to US$2.4 bn by 2023

Posted on Mar 03, 2016

The global thyroid gland disorders treatment market is exhibiting a CAGR of 3.10% between 2015 and 2023. The market was valued at US$1.8 bn in 2014. It is expected to reach US$2.4 bn before the end of 2023, as specified in a research report released by Transparency Market Research. The report, titled “Thyroid Gland Disorders Treatment Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2015 - 2023,” is a 104-page market intelligence document that can guide users towards making better business decisions.

Browse the full Thyroid Gland Disorders Treatment Market (By Disorders - Hypothyroidism and Hyperthyroidism) - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2015 - 2023 report at https://www.transparencymarketresearch.com/thyroid-gland-disorder-market.html

According to the report, the primary driver of the global thyroid gland disorder market is the growing number of patients being diagnosed with thyroid gland disorders. This is directly related to the rising global geriatric population. Developing economies are showing a much faster growth rate than developed ones in the global market, as the latter already possess advanced equipment and procedures for thyroid gland disorders treatment.

A major restraint on the global thyroid gland disorder market is the rising number of generic drugs, which is caused by the expiration of patents on major drugs. This is coupled with a rise in alternative medicine, which was already significantly preferred in the Eastern markets.

From a geographical perspective, the report reveals that Asia Pacific is expected to be the fastest growing regional market for thyroid gland disorders treatment for the given forecast period. This is attributed to the relatively lower cost of branded drugs in this region, coupled with the rising disposable incomes of individuals. The Asia Pacific thyroid gland disorder market also benefits from the growing awareness about thyroid disorders and their diagnosis. However, this region is expected to be restrained by the growing shortage of therapies for thyroid disorders, along with the growing presence of alternative medical procedures. These include the use of herbal medicine in India and China, along with the high use of acupuncture in China.

The Latin America thyroid gland disorder market is exhibiting a CAGR of 2.7% in the given forecast period. This market is driven by the improving quality of medical organizations and procedures in the region. The same can be said about the RoW and MENA thyroid gland disorder markets.

North America led the global thyroid gland disorder market in 2014, owing to a high prevalence of thyroid disorders and the presence of a strong healthcare industry. This region is showing a restrained growth rate due to an increasing number of patients opting for alternative medicine. Similar signs are shown by Europe. Both regions are expected to show growth in the demand for thyroid gland disorder therapeutics due to a rising geriatric population.

Key players in the global thyroid gland disorder market are Sanofi, Novartis AG, Merck KGaA, GlaxoSmithKline plc, Pfizer, Inc., Mylan N.V., AbbVie, Inc., and Abbott Laboratories.

Key segments of the Global Thyroid Gland Disorder Market

  • Global Thyroid Gland Disorders Treatment Market, by Disorders
    • Hypothyroidism
      • Levothyroxine
      • Liothyronine
    • Hyperthyroidism
      • Imidazole
      • Propacil
  • Global Thyroid Gland Disorders Treatment Market, by Geography
    • North America
      • Hypothyroidism
      • Hyperthyroidism
    • Europe
      • Hypothyroidism
      • Hyperthyroidism
    • Asia Pacific
      • Asia Pacific (APAC), by Disorders
        • Hypothyroidism
        • Hyperthyroidism
      • Asia Pacific (APAC), by Country
        • China
          • Hypothyroidism
            • Levothyroxine
            • Liothyronine
          • Hyperthyroidism
            • Imidazole
            • Propacil
        • Rest of APAC
          • Hypothyroidism
            • Levothyroxine
            • Liothyronine
          • Hyperthyroidism
            • Imidazole
            • Propacil
    • Latin America (LATAM)
      • Latin America, by Disorders
        • Hypothyroidism
        • Hyperthyroidism
      • Latin America, by Country
        • Brazil
          • Hypothyroidism
            • Levothyroxine
            • Liothyronine
          • Hyperthyroidism
            • Imidazole
            • Propacil
        • Rest of LATAM
          • Hypothyroidism
            • Levothyroxine
            • Liothyronine
          • Hyperthyroidism
            • Imidazole
            • Propacil
  • Middle East and North Africa (MENA)
    • Hypothyroidism
    • Hyperthyroidism
  • Rest of the World (RoW)
    • Hypothyroidism
    • Hyperthyroidism

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