Market Highlights

Thyroid gland produce the hormones namely triiodothyronine (T3) and thyroxine (T4) by trapping iodine from food. These hormones play an important role in the regulation of metabolism, growth & development, intelligence and nervous deficit, fertility, kidney functions, cardiac functions etc. The lack of iodine results in cretinism, goiter, deficient mental development and host of other ailments such as cardiac disorders. According to the international thyroid society almost 20 million Americans suffer from some form of thyroid disease and more than 12 percent of the U.S. population will develop a thyroid condition during their lifetime.

The market driving factors for the world Thyroid Disorder Market are growing prevalence of thyroid disorders, good reimbursement options for treatment and increasing awareness about the implications of thyroid disorders. The rise in screening for iodine disorders and thyroid tumors is also leading to the growth of the market. Growth in risk factors such as obesity, diabetes and auto immune diseases etc. are increasing the number of patients who are suffering from thyroid disorders. For example, diabetics are twice more likely to develop hashimoto’s thyroiditis. Increasing focus of governments especially of developing regions on the healthcare sector and is another driver for the global thyroid disorders market.

The market’s restraints includes high costs of the treatment and side-effects associated with current medication. Thyroid disorders treatment medication have a low therapeutic index which is the difference between safe and effective dose. The rise of alternative medicines has also reduced the market size. The market is an extremely consolidated market with few large players dominating it. The thyroid disorder market also reflects an oligopolistic nature in the drugs and supplements segment with a few molecules such as levothyroxine, cytomel, liothyronine, imidazole and propacil dominating the market.

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Global Thyroid Disorders Market

The global thyroid disorders market has been evaluated to be a growing market and it is expected that the market will touch moderate growth figures by growing at a CAGR of 3.1% in future. The major participants of this market are namely Allergan, Abbott Laboratories, GlaxoSmithKline plc, Merck & Co., Inc., Pfizer Inc., RLC LABS, AbbVie, Mylan and others.

Regional Analysis:

Depending on the geographic region, thyroid disorders market is segmented into four key regions namely America, Europe, Asia Pacific, and Middle East & Africa. Globally, America is the largest market for thyroid disorders followed by Europe. Asia Pacific region is expected to be fastest growing region in thyroid disorders market due to increasing investments in the healthcare sector,  increasing awareness about thyroid disorders, its medication as well as screening. 

Segmentation:

Global thyroid disorder market has been segmented on the basis of treatment which includes drugs and supplements, diagnostics and surgery. On the basis of disease indication the market is segmented into hypothyroidism, hyperthyroidism and other. On the basis of route of administration the market is segmented into oral, injectable and others. On the basis of end users the market is segmented into hospitals and home use.

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