NEW
YORK, June 25, 2024 /PRNewswire/ -- The global
thyroid gland disorder treatment market size is estimated to grow
by USD 848.5 million from 2024-2028,
according to Technavio. The market is estimated to grow at a
CAGR of over 5.01% during the forecast period. Rise in
thyroid treatment awareness programs globally is driving
market growth, with a trend towards rising focus on
emerging economies. However, high entry barrier by established
players poses a challenge. Key market players include Abbott
Laboratories, AbbVie Inc., Alvogen Iceland ehf, Amgen Inc.,
Exelixis Inc., Fresenius SE and Co. KGaA, GlaxoSmithKline Plc, IBSA
Institute Biochimique SA, JEROME STEVENS PHARMACEUTICALS INC.,
Lannett Co. Inc., Lupin Ltd., Mayne Pharma Group Ltd., Merck KGaA,
Novartis AG, Pfizer Inc., Piramal Enterprises Ltd., RLC Labs Inc.,
Sun Pharmaceutical Industries Ltd., Takeda Pharmaceutical Co. Ltd.,
and Viatris Inc..
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segments, customer landscape, and companies- View the
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Thyroid Gland
Disorder Treatment Market Scope
|
Report
Coverage
|
Details
|
Base year
|
2023
|
Historic
period
|
2018 - 2022
|
Forecast
period
|
2024-2028
|
Growth momentum &
CAGR
|
Accelerate at a CAGR of
5.01%
|
Market growth
2024-2028
|
USD 848.5
million
|
Market
structure
|
Fragmented
|
YoY growth 2022-2023
(%)
|
4.68
|
Regional
analysis
|
North America, Europe,
Asia, and Rest of World (ROW)
|
Performing market
contribution
|
North America at
37%
|
Key
countries
|
US, Canada, Germany,
China, and UK
|
Key companies
profiled
|
Abbott Laboratories,
AbbVie Inc., Alvogen Iceland ehf, Amgen Inc., Exelixis Inc.,
Fresenius SE and Co. KGaA, GlaxoSmithKline Plc, IBSA Institute
Biochimique SA, JEROME STEVENS PHARMACEUTICALS INC., Lannett Co.
Inc., Lupin Ltd., Mayne Pharma Group Ltd., Merck KGaA, Novartis AG,
Pfizer Inc., Piramal Enterprises Ltd., RLC Labs Inc., Sun
Pharmaceutical Industries Ltd., Takeda Pharmaceutical Co. Ltd., and
Viatris Inc.
|
Market Driver
The thyroid gland disorder treatment market is experiencing
significant growth due to the increasing prevalence of thyroid
disorders worldwide. Preference for thyroid therapeutics is on the
rise in both developed and developing regions. Vendors are
targeting emerging economies like the Middle East, Africa, China, and India, where the prevalence of hypothyroidism
is high, particularly among women aged 46-54. India, for instance, has identified overt and
subclinical hypothyroidism in approximately 2.3% and 9.5% of the
population, respectively. These factors are expected to drive
market growth during the forecast period.
The Thyroid Gland Disorders market is experiencing significant
growth due to the increasing diagnosis of thyroid-related
conditions. Diagnosis includes techniques like blood tests and
thyroid scans. Treatments for thyroid disorders include therapies
like hormone replacement therapy and surgeries. These treatments
are crucial for managing symptoms such as weight gain, fatigue, and
mood swings. The market is also witnessing the emergence of
diagnostic and therapeutic devices, such as ultrasound and
radioactive iodine therapy. Additionally, the use of novel
technologies like telemedicine and AI-powered diagnostic tools is
gaining traction. The market is expected to continue growing as
research and development efforts yield new treatments and
diagnostic methods.
Research report provides comprehensive data on
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Report
Market Challenges
- The thyroid gland disorder treatment market is dominated by
established players due to stringent regulations, complex
manufacturing processes, and supply chain advantages. Newer
companies face challenges in developing innovative products,
achieving manufacturing perfection, and building relationships with
leading vendors. These high entry barriers limit the number of
startups investing in this market, potentially hindering its growth
during the forecast period.
- The Thyroid Gland Disorder market faces several challenges in
diagnosis and treatment. Medications such as Levothyroxine and
Liothyronine are commonly used for hypothyroidism treatment.
However, the accuracy of diagnosis is crucial as inappropriate
treatment can lead to complications. Novel diagnostic methods like
ultrasound and thyroid scans are being explored to improve
diagnosis. Radiotherapy and surgery are options for hyperthyroidism
treatment, but they come with risks and side effects. The cost of
treatment and accessibility are also significant challenges,
particularly in developing countries. The market requires
innovative solutions to address these challenges and improve
patient outcomes.
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challenges - Request a sample report!
Segment Overview
This thyroid gland disorder treatment market report extensively
covers market segmentation by
- Type
- 1.1 Hypothyroidism
- 1.2 Hyperthyroidism
- Distribution Channel
- Geography
- 3.1 North America
- 3.2 Europe
- 3.3 Asia
- 3.4 Rest of World (ROW)
1.1 Hypothyroidism- The Thyroid Gland Disorder
Treatment Market is experiencing significant growth due to the
rising prevalence of thyroid disorders. This market is driven by
advancements in diagnostic tools and the development of effective
therapies. Pharmaceutical companies are investing heavily in
research and development to bring new treatments to market. Thyroid
disorders affect millions worldwide, creating a large and growing
demand for effective treatments. The market is expected to continue
expanding as more people are diagnosed and new treatments become
available.
For more information on market segmentation with
geographical analysis including forecast (2024-2028) and historic
data (2017-2021) - Download a Sample Report
Research Analysis
The Thyroid Gland Disorder Treatment Market is experiencing
significant growth due to the increasing prevalence of thyroid
conditions in aging populations. Hyperthyroidism and
Hypothyroidism, including Hashimoto's thyroiditis, are common
disorders that require specialized endocrinology consultations.
Novel medicines and customized medicine techniques are being
developed to address the unique needs of patients. Medical
technology advances, such as diagnostic technologies like Thyroid
function tests and Ultrasound imaging, enable early detection and
accurate diagnosis. Telemedicine and remote monitoring solutions
facilitate access to care for those with limited mobility or living
in remote areas. Euthyroid sick syndrome, Subacute thyroiditis, and
Iodine deficiency are other thyroid disorders that contribute to
market demand. Diagnostic technologies and Thyroid function tests
play a crucial role in identifying Thyroid cancer, a serious
condition that requires timely intervention. Overall, the Thyroid
Gland Disorder Treatment Market is poised for expansion as medical
technology continues to evolve and cater to the needs of an aging
geriatric demographic.
Market Research Overview
The Thyroid Gland Disorder Treatment Market encompasses various
therapies and medications used for managing conditions such as
hypothyroidism and hyperthyroidism. These disorders can lead to
symptoms like weight gain, fatigue, and mood swings. Treatment
modalities include synthetic hormone replacement therapy,
radioactive iodine therapy, and antithyroid medications. Novel
approaches like herbal remedies and dietary modifications are also
gaining popularity. The market is driven by factors like increasing
prevalence of thyroid disorders and rising awareness about their
impact on overall health. However, challenges like high cost of
treatment and potential side effects of certain medications remain.
The market is expected to grow significantly in the coming years
due to continuous research and development in this field.
Table of Contents:
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation
- Type
-
- Hypothyroidism
- Hyperthyroidism
- Distribution Channel
-
- Geography
-
- North America
- Europe
- Asia
- Rest Of World (ROW)
7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix
About Technavio
Technavio is a leading global technology research and advisory
company. Their research and analysis focuses on emerging market
trends and provides actionable insights to help businesses identify
market opportunities and develop effective strategies to optimize
their market positions.
With over 500 specialized analysts, Technavio's report library
consists of more than 17,000 reports and counting, covering 800
technologies, spanning across 50 countries. Their client base
consists of enterprises of all sizes, including more than 100
Fortune 500 companies. This growing client base relies on
Technavio's comprehensive coverage, extensive research, and
actionable market insights to identify opportunities in existing
and potential markets and assess their competitive positions within
changing market scenarios.
Contacts
Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/
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SOURCE Technavio