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Published Date: 2015-10-15Number of Pages: 104

Thyroid Gland Disorders Treatment Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2015 - 2023

Thyroid Gland Disorders Treatment Market: Snapshot

The number of patients suffering from thyroid gland disorders across the globe is increasing at a rapid rate. This direct increase in demand is expected to be a primary driver for the development of thyroid gland disorder treatments. The number of patients with thyroid gland disorder is increasing due to a growing population of the elderly, who are prone to thyroid disorders and similar illnesses. 

Additionally, a person suffering from obesity, diabetes, or cardiovascular diseases is also prone to contracting thyroid disorders. The growing number of patients with these illnesses, therefore, is another driver for the thyroid gland disorder market.

The demand for thyroid gland disorder drugs is, however, challenged by the rise in demand for alternative medical practices such as acupuncture and the use of remedial herbs and concoctions. Providers of thyroid gland disorder drugs can find greater opportunities of growth in the still untapped regions from developing economies across the world.

As a result of all the above factors, the global market for thyroid gland disorders is expected to progress at CAGR of 3.1% from 2015 to 2023 in terms of revenue. By the end of 2016, the revenue generated is expected to reach almost US$1.99 bn. It is expected to reach US$2.41 bn by the end of 2023.

North America Demand for Thyroid Gland Disorder Drugs Increases

By the end of 2023, the revenue earned by thyroid gland disorder players in North America is expected to reach US$1.1 bn, which will be the highest revenue generated among all key regions. The growing number of patients suffering from thyroid gland disorders within North America is the key reason for the increased consumption of its associated drugs.

The development of thyroid gland disorder treatments is also occurring at a faster rate in this region due to a higher expenditure in the region’s healthcare industry. This region does, however, show an elevated interest in the use of alternative medical practices to manage thyroid gland disorders, which is expected to continue hindering the market in the coming years.

Meanwhile, Asia Pacific is showing the providers of thyroid gland disorder treatments a promise of high growth rates due to a high population density. This region is also showing a rapid rate of improvement in its healthcare industry along with the disposable incomes of individuals. These factors are collectively responsible in helping the Asia Pacific thyroid gland disorder market expand at a rapid pace.

Levothyroxine Consumption Dominates Thyroid Gland Disorder Treatments

The demand for hypothyroidism drugs outweighs that for hyperthyroidism by a giant margin, owing to the greater number of patients for the former. Levothyroxine is the most preferred drug type for treating hypothyroidism across the world, over its counterpart liothyronine. The latter is not only less effective than levothyroxine, but also shows severe side effects such as cardiotoxicity. However, the high cost of levothyroxine is still a significant deterrent for many patients suffering from hypothyroidism from opting for it.

The key manufacturers of thyroid gland disorder-related drugs include Pfizer, Inc., Abbott Laboratories, Merck KGaA, and AbbVie, Inc.

Thyroid gland is made of thyroid cells that absorb iodine from food and convert it into triiodothyronine (T3) and thyroxine (T4). These hormones are released into the blood stream and play an important role in the regulation of metabolism. Thyroid gland disorders are defined as an abnormal release of thyroid hormones which may demand proper therapeutic agents to correct the disorder condition. This report studies the market in a view of different types of thyroid drugs i.e. hypothyroid drugs and hyperthyroid drugs. The report comprises an elaborate executive summary, which includes a market snapshot that provides market dynamics of various segments and sub-segments that are included in the report in a precise manner. Moreover, executive summary comprises waterfall diagram, which reflects the market size of various segments in the descending order.

A detailed qualitative analysis of the factors responsible for driving and restraining the growth of the global thyroid gland disorders treatment market and future opportunities has been provided in the market overview section. This section of the report also provides with market attractiveness analysis, epidemiology study, event impact analysis, regulatory framework and market share analysis by key players (%) operating in the thyroid gland disorders treatment market. 

Based on disorders, the global thyroid gland disorders treatment market has been segmented into hypothyroidism and hyperthyroidism. The market for these types has been extensively analyzed for different thyroid gland disorders drugs based on sales revenue of the various generic and branded products developed by the manufacturers. The market size and forecast in terms of USD million for each disorder has been provided for the period from 2013 to 2023. The report on the thyroid gland disorders treatment market also provides with compounded annual growth rate (CAGR %) for each of the market segments mentioned above with the forecast period from 2015 to 2023, considering 2014 as the base year.

Geographically, the thyroid gland disorders treatment market has been categorized into North America, Europe, Asia-Pacific, Latin America, the Middle East and North Africa (MENA) and Rest of the World (RoW) which are further divided based on the disorder types i.e. hypothyroidism and hyperthyroidism. Asia Pacific, further comprises detailed country analysis for China and Rest of APAC. Likewise, Latin America extensively provides with the detailed countrywise analysis for Brazil and Rest of LATAM. The market size and forecast for each of these regions and the mentioned countries have been provided for the period from 2013 to 2023 along with CAGR (%) for the forecast period from 2015 to 2023. The research study also incorporates the competitive scenario of major players in these regions.

A list of recommendations has been provided for new entrants to help establish a strong presence and for existing market players to increase their market shares. The report concludes with the profiles of the major players in the thyroid gland disorders treatment market based on various attributes such as company overview, financial overview, business strategies, product portfolio, and recent developments. Major players profiled in this report include Abbott Laboratories, Lannett Company, Inc., Pfizer, Inc., Merck KGaA, and Mylan N.V. 

 
The global thyroid gland disorders treatment market is segmented as follows

  • 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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