The prevalence of autoimmune thyroid diseases is a key driver for incessant focus on developing strategies for the management of thyroid disorders. The management of hypothyroidism and hyperthyroidism through medications has received massive attention, propelling the growth of the thyroid gland disorders treatment market. The burden is high, more among women than among men generally, and the incidence of thyroid dysfunction has grown in both developed as well as developing nations. Analysts at TMR project the valuation of the market to clock a CAGR of 3.3% during the forecast period 2017 – 2025.
Implications of Untreated or Inadequately Treated Thyroid Gland Disorders Bolster Market
The drive for optimal treatment of thyroid diseases in worldwide populations has shaped the contours of evolution for new therapeutics. The in-depth study on the thyroid gland disorders treatment market finds that a veritable driver is vast implications untreated or inadequately treated thyroid gland disorders have on the patient population.
One of the key therapeutic goals is the demand for medications that can regulate thyroid stimulating hormone (TSH) activity.
Prevalence of Hypothyroidism and Hyperthyroidism Spur Players to Explore Effective Therapeutic Target
The prevalence of hypothyroidism has been associated with mild-to-moderate weight gain, recurrent fatigue, poor concentration in work, and menstrual irregularities in women. Worse, the prevalence has increased the risk of cardiovascular diseases and the mortality in the patient population. Especially in developed nations, thyroid carcinoma and nodular thyroid diseases have received extensive attention by pharmaceutical companies.
The prevalence of hypothyroidism is high—reiterated by the estimation that the condition can affect 5% of the population, with 5% still undiagnosed. In this regard, levothyroxine is the predominantly prescribed medication in adults. In the coming years as well, levothyroxine will be the most preferred medications physicians prescribe for hypothyroidism. Preference of the medication for use in lifelong treatment for patients with hypothyroidism is one of the key aspects underpinning the lucrativeness of the segment. The case of reversible hypothyroidism needs special attention among physicians to reduce the overall burden of thyroid gland disorders.
Over the years, there has been rise in awareness about overt hypothyroidism. The burden of hypothyroidism is high among children also. In both the cohort, thyroid gland disorders have been implicated in reducing the quality of life. All these implications have also spurred primary care centers to raise awareness about the ease of treatment. Concomitantly, various regions have witnessed advancements in the diagnostics, thereby propelling the expansion of avenues in the thyroid gland disorders treatment market.
Vast Target Population in North America Confer Lucrative Opportunities to Pharma Companies
North America has been a highly lucrative market for pharmaceutical players in the global thyroid gland disorders treatment. The vast target patient population, together with constant updates in regulations for monitoring hypothyroidism, has been a key factor for massive revenue streams over the past decade.
Regulations that influence the decision of the medication and the dosage are led by The American Thyroid Association, American Association of Clinical Endocrinologists. and The Endocrine Society.
Asia Pacific to Expand at Rapid Pace: Growing Diagnosis, Improving Treatment, and Long-Term Care of Patients to Boost Market
On the other hand, Asia Pacific is an emerging market, with potential revenue streams during the forecast period 2017 -2025. The opportunity generation is fueled majorly by the growing diagnosis of thyroid gland disorders in various demographics. Further, advances in treatment and the clinical expertise in emerging economies have also bolstered the prospects of the regional market.
Emerging economies in the regional market have been witnessing steady demand for treatment propelled by constant focus on long-term care for patients, particularly in children and adults. China and Japan are at the forefront of generating incremental opportunities.
The global thyroid gland disorder treatment market has been segmented as follows:
- North America
- Rest of Europe
- Asia Pacific
- Australia & New Zealand
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East and Africa
- GCC Counties
- South Africa
- Rest of Middle East & Africa
- North America
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