The global Thyroid Gland Disorder Treatment market size is expected to be worth around US$ 12.6 billion by 2030, according to a new report by Vision Research Reports.
The global Thyroid Gland Disorder Treatment market size was valued at US$ 11.97 billion in 2020 and is anticipated to grow at a CAGR of 13.2% during forecast period 2021 to 2030.
An increase in the prevalence of thyroid diseases around the globe is expected to drive demand for anti-thyroid drugs in the coming years. Hypothyroidism is one of the leading causes of hospitalization in U.S. Growing awareness about disease management amongst healthcare professionals and patients is another factor augmenting the market growth. There are various private and public organizations working toward spreading awareness related to disease management, such as the British Thyroid Foundation, The American Thyroid Association (ATA), and Thyroid Foundation of Canada.
Rising demand for these drugs has resulted in the development of various generic equivalents of branded drugs to treat thyroid gland disorders. Generic drug manufacturers are focusing on strategies such as new product development, distribution channel enhancement, regional expansions, and collaborations with other companies for marketing their products to gain an edge over the competition. In addition, regulatory authorities that approve generic versions of branded drugs are working to overcome delays in product approvals and enable the availability of these drugs at a lower price. This is expected to boost the market over the forecast period.
On the basis of indication, the market is bifurcated into hypothyroidism and hyperthyroidism. Hypothyroidism accounted for the largest revenue share as of 2016 owing to high prevalence of this condition, with around 90.0% of the total diseased population showing an indication.
The major drug classes used to treat hypothyroidism are Liothyronine and Levothyroxine. Of these, Levothyroxine, a hormone replacement drug, held the dominant revenue share in 2016 and is expected to maintain its position throughout the forecast period. Brand names of this drug class in the U.S. are Levoxyl, Tirosint, and Synthroid; companies manufacturing generic equivalents for this drug class are Mylan; Merck KGaA; and Lannett Company, Inc.
By route of administration, the thyroid gland disorder treatment market is segmented into oral, intravenous, and others. The oral segment dominated the market owing to new product development and the presence of a strong pipeline. Factors such as high efficacy, a higher rate of bioavailability, and rapid delivery of drugs are expected to propel segment growth. The oral route of administration is effective against drugs with medium to high oral bioavailability.
Oral therapies minimize the use of central lines for intravenous drug administration and thereby reduce the risk of complications associated with it as well as a hospital stay. The development of promising new drugs and potential clinical pipeline candidates are some of the major factors expected to drive segment growth.
Wholesalers and distributors form a rather mature segment. However, high penetration of these distribution channels for prescription medicines has allowed it to gain the largest revenue share as of 2016. Wholesalers provide discounts on bulk purchases, offer quick delivery, and always have sufficient product stock, owing to which consumers opt for these distribution channels.
Increasing popularity of eCommerce channels for prescription medicines is a key factor for contributing to the lucrativeness of the online distribution segment over the forecast period. Online pharmacies provide a wide range of options to treat this disease and often offer in-depth information pertaining to the condition. Equipped with this knowledge, consumers are more likely to purchase medicines online.
North America accounted for the largest revenue share as of 2016 and is anticipated to expand at an exponential CAGR throughout the forecast period. The presence of streamlined healthcare facilities, greater awareness levels amongst individuals, and ample availability of treatment options to choose from are some of the factors responsible for its large revenue share.
Strategic partnerships between pharmaceutical companies and government organizations are on a rise in the region, particularly to develop generic drugs and spread awareness amongst healthcare professionals. This makes the North America market highly lucrative. For instance, Genzyme, in partnership with Veracyte Inc., will be delivering personalized solutions for the treatment of disorders related to the thyroid gland.
The Asia Pacific market is expected to exhibit a lucrative CAGR as manufacturers in this region are focusing on the development of low-cost products with higher efficiency. In addition, global players are investing in local companies in the region, attracted by the lower cost of raw material and labor.
Abbott; Pfizer; Lannett Company, Inc.; GlaxoSmithKline; Merck KGaA; Mylan N.V.; AbbVie Inc.; and Amgen.
Distribution Channel Outlook
Middle East & Africa
The Thyroid Gland Disorder Treatment market research report covers definition, classification, product classification, product application, development trend, product technology, competitive landscape, industrial chain structure, industry overview, national policy and planning analysis of the industry, the latest dynamic analysis, etc., and also includes major. The study includes drivers and restraints of the global market. It covers the impact of these drivers and restraints on the demand during the forecast period. The report also highlights opportunities in the market at the global level.
The report provides size (in terms of volume and value) of Thyroid Gland Disorder Treatment market for the base year 2020 and the forecast between 2021 and 2030. Market numbers have been estimated based on form and application. Market size and forecast for each application segment have been provided for the global and regional market.
This report focuses on the global Thyroid Gland Disorder Treatment market status, future forecast, growth opportunity, key market and key players. The study objectives are to present the Thyroid Gland Disorder Treatment market development in United States, Europe and China.
It is pertinent to consider that in a volatile global economy, we haven’t just conducted Thyroid Gland Disorder Treatment market forecasts in terms of CAGR, but also studied the market based on key parameters, including Year-on-Year (Y-o-Y) growth, to comprehend the certainty of the market and to find and present the lucrative opportunities in market.
In terms of production side, this report researches the Thyroid Gland Disorder Treatment capacity, production, value, ex-factory price, growth rate, market share for major manufacturers, regions (or countries) and type.
In terms of consumption side, this report focuses on the consumption of Thyroid Gland Disorder Treatment by regions (countries) and application.
Buyers of the report will have access to verified market figures, including global market size in terms of revenue and volume. As part of production analysis, the authors of the report have provided reliable estimations and calculations for global revenue and volume by Type segment of the global Thyroid Gland Disorder Treatment market. These figures have been provided in terms of both revenue and volume for the period 2017 to 2030. Additionally, the report provides accurate figures for production by region in terms of revenue as well as volume for the same period. The report also includes production capacity statistics for the same period.
With regard to production bases and technologies, the research in this report covers the production time, base distribution, technical parameters, research and development trends, technology sources, and sources of raw materials of major Thyroid Gland Disorder Treatment market companies.
Regarding the analysis of the industry chain, the research of this report covers the raw materials and equipment of Thyroid Gland Disorder Treatment market upstream, downstream customers, marketing channels, industry development trends and investment strategy recommendations. The more specific analysis also includes the main application areas of market and consumption, major regions and Consumption, major Chinese producers, distributors, raw material suppliers, equipment providers and their contact information, industry chain relationship analysis.
The research in this report also includes product parameters, production process, cost structure, and data information classified by region, technology and application. Finally, the paper model new project SWOT analysis and investment feasibility study of the case model.
Overall, this is an in-depth research report specifically for the Thyroid Gland Disorder Treatment industry. The research center uses an objective and fair way to conduct an in-depth analysis of the development trend of the industry, providing support and evidence for customer competition analysis, development planning, and investment decision-making. In the course of operation, the project has received support and assistance from technicians and marketing personnel in various links of the industry chain.
The Thyroid Gland Disorder Treatment market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to Thyroid Gland Disorder Treatment market.
Prominent players in the market are predicted to face tough competition from the new entrants. However, some of the key players are targeting to acquire the startup companies in order to maintain their dominance in the global market. For a detailed analysis of key companies, their strengths, weaknesses, threats, and opportunities are measured in the report by using industry-standard tools such as the SWOT analysis. Regional coverage of key companies is covered in the report to measure their dominance. Key manufacturers of Thyroid Gland Disorder Treatment market are focusing on introducing new products to meet the needs of the patrons. The feasibility of new products is also measured by using industry-standard tools.
Key companies are increasing their investments in research and development activities for the discovery of new products. There has also been a rise in the government funding for the introduction of new Thyroid Gland Disorder Treatment market. These factors have benefited the growth of the global market for Thyroid Gland Disorder Treatment. Going forward, key companies are predicted to benefit from the new product launches and the adoption of technological advancements. Technical advancements have benefited many industries and the global industry is not an exception.
New product launches and the expansion of already existing business are predicted to benefit the key players in maintaining their dominance in the global market for Thyroid Gland Disorder Treatment. The global market is segmented on the basis of region, application, en-users and product type. Based on region, the market is divided into North America, Europe, Asia-Pacific, Latin America and Middle East and Africa (MEA).
In this study, the years considered to estimate the market size of Thyroid Gland Disorder Treatment are as follows:
Reasons to Purchase this Report:
- Market segmentation analysis including qualitative and quantitative research incorporating the impact of economic and policy aspects
- Regional and country level analysis integrating the demand and supply forces that are influencing the growth of the market.
- Market value USD Million and volume Units Million data for each segment and sub-segment
- Competitive landscape involving the market share of major players, along with the new projects and strategies adopted by players in the past five years
- Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis, and strategies employed by the major market players
In-depth interviews and discussions were conducted with several key market participants and opinion leaders to compile the research report.
This research study involved the extensive usage of both primary and secondary data sources. The research process involved the study of various factors affecting the industry, including the government policy, market environment, competitive landscape, historical data, present trends in the market, technological innovation, upcoming technologies and the technical progress in related industry, and market risks, opportunities, market barriers and challenges. The following illustrative figure shows the market research methodology applied in this report.
Market Size Estimation
Top-down and bottom-up approaches are used to estimate and validate the global market size for company, regional division, product type and application (end users).
The market estimations in this report are based on the selling price (excluding any discounts provided by the manufacturer, distributor, wholesaler or traders). Market share analysis, assigned to each of the segments and regions are achieved through product utilization rate and average selling price.
Major manufacturers & their revenues, percentage splits, market shares, growth rates and breakdowns of the product markets are determined through secondary sources and verified through the primary sources.
All possible factors that influence the markets included in this research study have been accounted for, viewed in extensive detail, verified through primary research, and analyzed to get the final quantitative and qualitative data. The market size for top-level markets and sub-segments is normalized, and the effect of inflation, economic downturns, and regulatory & policy changes or others factors are accounted for in the market forecast. This data is combined and added with detailed inputs and analysis from Vision Research Reports and presented in this report.
Market Breakdown and Data Triangulation
After complete market engineering with calculations for market statistics; market size estimations; market forecasting; market breakdown; and data triangulation. Extensive primary research was conducted to gather information and verify and validate the critical numbers arrived at. In the complete market engineering process, both top-down and bottom-up approaches were extensively used, along with several data triangulation methods, to perform market estimation and market forecasting for the overall market segments and sub-segments listed in this report.
Secondary Sources occupies approximately 25% of data sources, such as press releases, annual reports, Non-Profit organizations, industry associations, governmental agencies and customs data, and so on. This research study includes secondary sources; directories; databases such as Bloomberg Business, Wind Info, Hoovers, Factiva (Dow Jones & Company), TRADING ECONOMICS, and avention; Investing News Network; statista; Federal Reserve Economic Data; annual reports; investor presentations; and SEC filings of companies.
In the primary research process, various sources from both the supply and demand sides were interviewed to obtain qualitative and quantitative information for this report. The primary sources from the supply side include product manufacturers (and their competitors), opinion leaders, industry experts, research institutions, distributors, dealer and traders, as well as the raw materials suppliers and producers, etc.
The primary sources from the demand side include industry experts such as business leaders, marketing and sales directors, technology and innovation directors, supply chain executive, end users (product buyers), and related key executives from various key companies and organizations operating in the global market.
The study objectives of this report are:
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