Global Thyroid Gland Disorder Treatment Market Set to Reach USD 3.15 Billion by 2030, Reveals Infinium Global Research
PUNE, India, Nov. 3, 2023 /PRNewswire/ -- Infinium Global Research, a leading provider of market insights and analytics, has released a comprehensive report on the Global Thyroid Gland Disorder Treatment Market. The report offers a detailed analysis of the market's segments, sub-segments, and the impact of drivers, restraints, and macro indicators on both the short-term and long-term prospects for the global and regional thyroid gland disorder treatment market. The research indicates substantial growth potential, with the global thyroid gland disorder treatment market valued at USD 2.26 billion in 2022 and projected to reach USD 3.15 billion by 2030, reflecting a noteworthy Compound Annual Growth Rate (CAGR) of 3.67% during the forecast period from 2023 to 2030.
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Advancing Thyroid Gland Disorder Treatment
The thyroid gland disorder treatment market encompasses the production, distribution, and sale of products and services aimed at addressing various thyroid gland-related medical conditions. This market primarily includes pharmaceuticals, diagnostic tools, and therapeutic procedures, catering to patients with conditions like hypothyroidism, hyperthyroidism, goiter, and thyroid cancer. Key components of this market include prescription medications, surgical interventions, and diagnostic tests for accurate diagnosis and monitoring. Companies operating in this market range from pharmaceutical giants developing hormone replacement therapies to diagnostic equipment manufacturers and healthcare providers offering surgical and non-surgical treatments. The thyroid gland disorder treatment market represents a significant segment within the broader healthcare industry, offering opportunities for growth and innovation as advancements in medical science and technology continue to shape the landscape.
Driving Factors and Challenges
The thyroid gland disorder treatment market is driven by the escalating incidence of thyroid disorders and the expansion of awareness and screening initiatives. The surge in thyroid disorders, encompassing hypothyroidism, hyperthyroidism, and thyroid cancer, is a central driver, primarily fuelled by shifting lifestyles, environmental influences, and enhanced diagnostic capabilities. The heightened consciousness of thyroid health and the execution of screening and early detection programs have augmented case identification, thereby stimulating the demand for treatments. Additionally, the development of efficacious combination drug therapies for thyroid disorders plays a pivotal role in the expansion of the thyroid disorder treatment market. These innovative drug combinations not only offer superior patient outcomes with reduced side effects but also bolster the market's growth and competitiveness. However, it's worth noting that side effects leading to reduced patient adherence can significantly constrain the market's progression. The evolving healthcare trends and advances in medical research present promising opportunities for the market.
Regional Dominance and Growth Trends
North America is expected to dominate the market share in the upcoming forecast period. North America maintains a stronghold in the thyroid disorder treatment market owing to its elevated incidence of thyroid disorders, robust and mature healthcare infrastructure, and a booming pharmaceutical and biotechnology sector, which collectively foster cutting-edge research and advanced treatment options. On the other hand, the Asia-Pacific (APAC) region is emerging as the fastest-growing market segment due to substantial investments in healthcare infrastructure, expanding access to medical facilities, and notable technological advancements. These developments have significantly enhanced the capability for timely diagnosis and effective treatment of thyroid disorders in the region, reflecting a burgeoning market potential for healthcare stakeholders and industry players.
Market Segmentation and Coverage
The report covers various segments of the global thyroid gland disorder treatment market, including disease type, drug type, route of administration, and distribution/sales channel.
Disease types encompass hyperthyroidism and hypothyroidism. The hypothyroidism segment is anticipated to hold the most significant share within the global thyroid gland disorder treatment market. This prominence is attributed to the high prevalence of hypothyroidism, driving a substantial demand for related treatments and medications. Factors such as increased diagnostic rates and the growing number of patients seeking medical intervention for underactive thyroid conditions contribute to the anticipated significant market share within the thyroid disorder treatment landscape. The focus on developing effective therapies for hypothyroidism further reinforces its leading position in the market. Manufacturers are directing their attention toward developing novel treatments for hypothyroidism, a trend expected to fuel the expansion of this market segment. For instance, in May 2023, Prolevi Bio innovated a technology aimed at assisting the 10 to 20% of individuals who do not exhibit a response to existing treatments for hypothyroidism.
Drug types include levothyroxine, liothyronine, propylthiouracil, imidazole-based compounds, and others. The levothyroxine segment is accounted to hold the largest share in the thyroid gland disorder treatment market. Levothyroxine, a synthetic form of the thyroid hormone thyroxine (T4), holds the most significant share in the thyroid gland disorder treatment market. It is a widely prescribed medication for hypothyroidism, a condition characterized by an underactive thyroid. Levothyroxine helps regulate the body's metabolism and energy levels. Its dominance in the market is due to its effectiveness, affordability, and long-established use as a standard treatment for hypothyroidism. Moreover, the drug's relatively low production cost and availability in various formulations contribute to its widespread usage, making it a cornerstone therapy for thyroid gland disorders.
Route of administration options encompass oral, intravenous, and others. Oral administration is augmented to hold the largest share in the thyroid gland disorder treatment market owing to the widespread use of thyroid hormone replacement medications taken orally. This route offers convenience and effective absorption of medications for conditions like hypothyroidism. Additionally, oral administration provides a familiar and easily manageable method for patients, contributing to its dominance in the treatment of thyroid gland disorders.
Distribution/sales channels include wholesaler/distributor, retailer, mail-order pharmacy, and others. The retail pharmacies segment is accounted to hold the largest share in the thyroid gland disorder treatment market. This dominance is due to the widespread accessibility of medications for thyroid-related conditions through local retail pharmacy outlets, providing convenience and immediate access for patients. Additionally, the established presence of retail pharmacies, coupled with the ease of over-the-counter and prescription drug distribution, contributes to their significant market share. Furthermore, these channels often offer patient education and consultation, further solidifying their pivotal role in distributing thyroid gland disorder treatments.
Leading Industry Players
The report profiles key companies in the market, such as GSK plc, Pfizer Inc., Allergan acquired by (AbbVie), AbbVie Inc., Abbott Laboratories, Merck & Co., Inc., Novartis AG, Mylan (Now a Part of Viatris), Lannett Co Inc, and RLC LABS.
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Table of Content
Chapter 1. Preface
1.1. Report Description
1.2. Research Methods
1.3. Research Approaches
Chapter 2. Executive Summary
2.1. Thyroid Gland Disorder Treatment Market Highlights
2.2. Thyroid Gland Disorder Treatment Market Projection
2.3. Thyroid Gland Disorder Treatment Market Regional Highlights
Chapter 3. Global Thyroid Gland Disorder Treatment Market Overview
3.1. Introduction
3.2. Market Dynamics
3.2.1. Drivers
3.2.2. Restraints
3.2.3. Opportunities
3.3. Porter`s Five Forces Analysis
3.4. IGR-Growth Matrix Analysis
3.4.1. IGR-Growth Matrix Analysis by Disease Type
3.4.2. IGR-Growth Matrix Analysis by Drug Type
3.4.3. IGR-Growth Matrix Analysis by Route of Administration
3.4.4. IGR-Growth Matrix Analysis by Distribution/Sales Channel
3.4.5. IGR-Growth Matrix Analysis by Region
3.5. Value Chain Analysis of Thyroid Gland Disorder Treatment Market
Chapter 4. Thyroid Gland Disorder Treatment Market Macro Indicator Analysis
Chapter 5. Company Profiles and Competitive Landscape
5.1. Competitive Landscape in the Global Thyroid Gland Disorder Treatment Market
5.2. Companies Profiles
5.2.1. GSK plc
5.2.2. Pfizer Inc.
5.2.3. Allergan acquired by (AbbVie)
5.2.4. AbbVie Inc.
5.2.5. Abbott Laboratories
5.2.6. Merck & Co., Inc.
5.2.7. Novartis AG
5.2.8. Mylan (Now a Part of Viatris)
5.2.9. Lannett Co Inc
5.2.10. RLC LABS
Chapter 6. Global Thyroid Gland Disorder Treatment Market by Disease Type
6.1. Hyperthyroidism
6.2. Hypothyroidism
Chapter 7. Global Thyroid Gland Disorder Treatment Market by Drug Type
7.1. Levothyroxine
7.2. Liothyronine
7.3. Propylthiouracil
7.4. Imidazole-based Compound
7.5. Others
Chapter 8. Global Thyroid Gland Disorder Treatment Market by Route of Administration
8.1. Oral
8.2. Intravenous
8.3. Others
Chapter 9. Global Thyroid Gland Disorder Treatment Market by Distribution/Sales Channel
9.1. Wholesaler/Distributor
9.2. Retailer
9.3. Mail-order Pharmacy
9.4. Others
Chapter 10. Global Thyroid Gland Disorder Treatment Market by Region 2023-2030
10.1. North America
10.1.1. North America Thyroid Gland Disorder Treatment Market by Disease Type
10.1.2. North America Thyroid Gland Disorder Treatment Market by Drug Type
10.1.3. North America Thyroid Gland Disorder Treatment Market by Route of Administration
10.1.4. North America Thyroid Gland Disorder Treatment Market by Distribution/Sales Channel
10.1.5. North America Thyroid Gland Disorder Treatment Market by Country
10.1.5.1. The U.S. Thyroid Gland Disorder Treatment Market
10.1.5.1.1. The U.S. Thyroid Gland Disorder Treatment Market by Disease Type
10.1.5.1.2. The U.S. Thyroid Gland Disorder Treatment Market by Drug Type
10.1.5.1.3. The U.S. Thyroid Gland Disorder Treatment Market by Route of Administration
10.1.5.1.4. The U.S. Thyroid Gland Disorder Treatment Market by Distribution/Sales Channel
10.1.5.2. Canada Thyroid Gland Disorder Treatment Market
10.1.5.2.1. Canada Thyroid Gland Disorder Treatment Market by Disease Type
10.1.5.2.2. Canada Thyroid Gland Disorder Treatment Market by Drug Type
10.1.5.2.3. Canada Thyroid Gland Disorder Treatment Market by Route of Administration
10.1.5.2.4. Canada Thyroid Gland Disorder Treatment Market by Distribution/Sales Channel
10.1.5.3. Mexico Thyroid Gland Disorder Treatment Market
10.1.5.3.1. Mexico Thyroid Gland Disorder Treatment Market by Disease Type
10.1.5.3.2. Mexico Thyroid Gland Disorder Treatment Market by Drug Type
10.1.5.3.3. Mexico Thyroid Gland Disorder Treatment Market by Route of Administration
10.1.5.3.4. Mexico Thyroid Gland Disorder Treatment Market by Distribution/Sales Channel
10.2. Europe
10.2.1. Europe Thyroid Gland Disorder Treatment Market by Disease Type
10.2.2. Europe Thyroid Gland Disorder Treatment Market by Drug Type
10.2.3. Europe Thyroid Gland Disorder Treatment Market by Route of Administration
10.2.4. Europe Thyroid Gland Disorder Treatment Market by Distribution/Sales Channel
10.2.5. Europe Thyroid Gland Disorder Treatment Market by Country
10.2.5.1. Germany Thyroid Gland Disorder Treatment Market
10.2.5.1.1. Germany Thyroid Gland Disorder Treatment Market by Disease Type
10.2.5.1.2. Germany Thyroid Gland Disorder Treatment Market by Drug Type
10.2.5.1.3. Germany Thyroid Gland Disorder Treatment Market by Route of Administration
10.2.5.1.4. Germany Thyroid Gland Disorder Treatment Market by Distribution/Sales Channel
10.2.5.2. United Kingdom Thyroid Gland Disorder Treatment Market
10.2.5.2.1. United Kingdom Thyroid Gland Disorder Treatment Market by Disease Type
10.2.5.2.2. United Kingdom Thyroid Gland Disorder Treatment Market by Drug Type
10.2.5.2.3. United Kingdom Thyroid Gland Disorder Treatment Market by Route of Administration
10.2.5.2.4. United Kingdom Thyroid Gland Disorder Treatment Market by Distribution/Sales Channel
10.2.5.3. France Thyroid Gland Disorder Treatment Market
10.2.5.3.1. France Thyroid Gland Disorder Treatment Market by Disease Type
10.2.5.3.2. France Thyroid Gland Disorder Treatment Market by Drug Type
10.2.5.3.3. France Thyroid Gland Disorder Treatment Market by Route of Administration
10.2.5.3.4. France Thyroid Gland Disorder Treatment Market by Distribution/Sales Channel
10.2.5.4. Italy Thyroid Gland Disorder Treatment Market
10.2.5.4.1. Italy Thyroid Gland Disorder Treatment Market by Disease Type
10.2.5.4.2. Italy Thyroid Gland Disorder Treatment Market by Drug Type
10.2.5.4.3. Italy Thyroid Gland Disorder Treatment Market by Route of Administration
10.2.5.4.4. Italy Thyroid Gland Disorder Treatment Market by Distribution/Sales Channel
10.2.5.5. Rest of Europe Thyroid Gland Disorder Treatment Market
10.2.5.5.1. Rest of Europe Thyroid Gland Disorder Treatment Market by Disease Type
10.2.5.5.2. Rest of Europe Thyroid Gland Disorder Treatment Market by Drug Type
10.2.5.5.3. Rest of Europe Thyroid Gland Disorder Treatment Market by Route of Administration
10.2.5.5.4. Rest of Europe Thyroid Gland Disorder Treatment Market by Distribution/Sales Channel
10.3. Asia Pacific
10.3.1. Asia Pacific Thyroid Gland Disorder Treatment Market by Disease Type
10.3.2. Asia Pacific Thyroid Gland Disorder Treatment Market by Drug Type
10.3.3. Asia Pacific Thyroid Gland Disorder Treatment Market by Route of Administration
10.3.4. Asia Pacific Thyroid Gland Disorder Treatment Market by Distribution/Sales Channel
10.3.5. Asia Pacific Thyroid Gland Disorder Treatment Market by Country
10.3.5.1. China Thyroid Gland Disorder Treatment Market
10.3.5.1.1. China Thyroid Gland Disorder Treatment Market by Disease Type
10.3.5.1.2. China Thyroid Gland Disorder Treatment Market by Drug Type
10.3.5.1.3. China Thyroid Gland Disorder Treatment Market by Route of Administration
10.3.5.1.4. China Thyroid Gland Disorder Treatment Market by Distribution/Sales Channel
10.3.5.2. Japan Thyroid Gland Disorder Treatment Market
10.3.5.2.1. Japan Thyroid Gland Disorder Treatment Market by Disease Type
10.3.5.2.2. Japan Thyroid Gland Disorder Treatment Market by Drug Type
10.3.5.2.3. Japan Thyroid Gland Disorder Treatment Market by Route of Administration
10.3.5.2.4. Japan Thyroid Gland Disorder Treatment Market by Distribution/Sales Channel
10.3.5.3. India Thyroid Gland Disorder Treatment Market
10.3.5.3.1. India Thyroid Gland Disorder Treatment Market by Disease Type
10.3.5.3.2. India Thyroid Gland Disorder Treatment Market by Drug Type
10.3.5.3.3. India Thyroid Gland Disorder Treatment Market by Route of Administration
10.3.5.3.4. India Thyroid Gland Disorder Treatment Market by Distribution/Sales Channel
10.3.5.4. South Korea Thyroid Gland Disorder Treatment Market
10.3.5.4.1. South Korea Thyroid Gland Disorder Treatment Market by Disease Type
10.3.5.4.2. South Korea Thyroid Gland Disorder Treatment Market by Drug Type
10.3.5.4.3. South Korea Thyroid Gland Disorder Treatment Market by Route of Administration
10.3.5.4.4. South Korea Thyroid Gland Disorder Treatment Market by Distribution/Sales Channel
10.3.5.5. Australia Thyroid Gland Disorder Treatment Market
10.3.5.5.1. Australia Thyroid Gland Disorder Treatment Market by Disease Type
10.3.5.5.2. Australia Thyroid Gland Disorder Treatment Market by Drug Type
10.3.5.5.3. Australia Thyroid Gland Disorder Treatment Market by Route of Administration
10.3.5.5.4. Australia Thyroid Gland Disorder Treatment Market by Distribution/Sales Channel
10.3.5.6. Rest of Asia-Pacific Thyroid Gland Disorder Treatment Market
10.3.5.6.1. Rest of Asia-Pacific Thyroid Gland Disorder Treatment Market by Disease Type
10.3.5.6.2. Rest of Asia-Pacific Thyroid Gland Disorder Treatment Market by Drug Type
10.3.5.6.3. Rest of Asia-Pacific Thyroid Gland Disorder Treatment Market by Route of Administration
10.3.5.6.4. Rest of Asia-Pacific Thyroid Gland Disorder Treatment Market by Distribution/Sales Channel
10.4. RoW
10.4.1. RoW Thyroid Gland Disorder Treatment Market by Disease Type
10.4.2. RoW Thyroid Gland Disorder Treatment Market by Drug Type
10.4.3. RoW Thyroid Gland Disorder Treatment Market by Route of Administration
10.4.4. RoW Thyroid Gland Disorder Treatment Market by Distribution/Sales Channel
10.4.5. RoW Thyroid Gland Disorder Treatment Market by Sub-region
10.4.5.1. Latin America Thyroid Gland Disorder Treatment Market
10.4.5.1.1. Latin America Thyroid Gland Disorder Treatment Market by Disease Type
10.4.5.1.2. Latin America Thyroid Gland Disorder Treatment Market by Drug Type
10.4.5.1.3. Latin America Thyroid Gland Disorder Treatment Market by Route of Administration
10.4.5.1.4. Latin America Thyroid Gland Disorder Treatment Market by Distribution/Sales Channel
10.4.5.2. Middle East Thyroid Gland Disorder Treatment Market
10.4.5.2.1. Middle East Thyroid Gland Disorder Treatment Market by Disease Type
10.4.5.2.2. Middle East Thyroid Gland Disorder Treatment Market by Drug Type
10.4.5.2.3. Middle East Thyroid Gland Disorder Treatment Market by Route of Administration
10.4.5.2.4. Middle East Thyroid Gland Disorder Treatment Market by Distribution/Sales Channel
10.4.5.3. Africa Thyroid Gland Disorder Treatment Market
10.4.5.3.1. Africa Thyroid Gland Disorder Treatment Market by Disease Type
10.4.5.3.2. Africa Thyroid Gland Disorder Treatment Market by Drug Type
10.4.5.3.3. Africa Thyroid Gland Disorder Treatment Market by Route of Administration
10.4.5.3.4. Africa Thyroid Gland Disorder Treatment Market by Distribution/Sales Channel
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=> Comprehensive analysis of global as well as regional markets of Thyroid Gland Disorder Treatment.
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=> Comprehensive analysis of the companies operating in this market. The company profile includes an analysis of the product portfolio, revenue, SWOT analysis, and the latest developments of the company.
=> Infinium Global Research- Growth Matrix presents an analysis of the product segments and geographies that market players should focus on to invest, consolidate, expand, and/or diversify.
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