The global anti-thyroid drugs market was valued at about $2.46 billion in 2018 and is expected to grow to $2.79 billion at a CAGR of 3.2% through 2022. Major players in the market are Mylan N.V., Abbott Laboratories, GlaxoSmithKline plc, Merck & Co. and AbbVie, Inc.
The anti-thyroid drugs market has been geographically segmented into North America, Western Europe, APAC, Eastern Europe, South America and Middle East & Africa. The North American market is the largest market for Anti-Thyroid Drugs and is expected to continue to be the largest market during the forecast period.
Graves' disease is one of the direct causes of hyperthyroidism and the incidence of Graves' disease increasing. In 2018, nearly 384,500 people were suffering from Graves' disease in the seven major market across the globe and the USA accounted for the highest reported cases with a prevalence of 1.2%. Owing to the rising number of Grave's disease, people suffering from hyperthyroidism is also increasing. This results in the overall growth in the demand for anti-thyroid drugs thereby driving the market.
The anti-thyroid drugs market is being restrained by the side effects of medication used to treat hyperthyroidism condition. There are many side effects associated with the medication used to treat hyperthyroidism. For instance, according to a study it was found that two most commonly used anti-thyroid medications propylthiouracil (PTU) and methimazole (MMI) causes hepatotoxicity and death in children and major abnormalities in the fetus.
Associations for thyroid care are launching initiatives to spread more awareness about thyroid disorders, update on the recent treatment methods and other summaries regarding various research on thyroid disorders. In the USA, nearly 60% of population suffering from hyperthyroidism are unaware and remain undiagnosed. To curb these issues, associations including American Thyroid Association (ATA) are making an impact by educating people about thyroid disorders.
Similarly, the Thyroid foundation of Canada has also initiated awareness to awaken public interest and awareness about thyroid diseases including hyperthyroidism. Other associations that are launching initiatives and awareness programs include American Academy of Otolaryngology, British Thyroid Foundation among others.
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Key Topics Covered
1. Executive Summary
2. Anti-Thyroid Drugs Market Characteristics
3. Anti-Thyroid Drugs Market Size And Growth 3.1. Global Anti-Thyroid Drugs Historic Market, 2015 - 2019, $ Billion 3.1.1. Drivers Of The Market 3.1.2. Restraints On The Market 3.2. Global Anti-Thyroid Drugs Forecast Market, 2019 - 2022F, 2025F, 2030F, $ Billion 3.2.1. Drivers Of The Market 3.2.2. Restraints On the Market
4. Anti-Thyroid Drugs Market Segmentation 4.1. Global Anti-Thyroid Drugs Market, Segmentation By Drug Type, Historic and Forecast, 2015-2019, 2022F, 2025F, 2030F, $ Billion
Thionamides (Inhibition of hormone synthesis) Iodides (Inhibition of hormone release)
4.2. Global Anti-Thyroid Drugs Market, Segmentation By Route of Administration, Historic and Forecast, 2015-2019, 2022F, 2025F, 2030F, $ Billion
5. Anti-Thyroid Drugs Market Regional And Country Analysis 5.1. Global Anti-Thyroid Drugs Market, Split By Region, Historic and Forecast, 2015-2019, 2022F, 2025F, 2030F, $ Billion 5.2. Global Anti-Thyroid Drugs Market, Split By Country, Historic and Forecast, 2015-2019, 2022F, 2025F, 2030F, $ Billion