Thyroid Gland Disorder Treatment Market: Overview, Segmentation, and Trends
The global thyroid gland disorder treatment market is expected to reach $2,771 million by 2025, growing at a CAGR of 3.8% from 2018 to 2025. The market is driven by the rise in the incidence of thyroid gland disorder, an increase in the number of disease awareness programs, and the development of effective combination drug therapies. However, the market growth is hampered by the side effects of drugs leading to low adherence and stringent government regulations for the approval of combination therapies.
The market is segmented based on disease type, drug type, route of administration, distribution channel, and region. Based on disease type, the market is bifurcated into hypothyroidism and hyperthyroidism. Based on drug type, the market is categorized into levothyroxine, liothyronine, propylthiouracil, imidazole-based compounds, and others. Based on route of administration, the market is classified into oral, intravenous, and others. Based on distribution channel, the market is categorized into wholesaler or distributor, retailer, mail-order pharmacy, and others.
The market is analyzed across North America, Europe, Asia-Pacific, and LAMEA. The market in Asia-Pacific is expected to grow at the highest CAGR during the forecast period due to the rising incidence of thyroid gland disorders, increased disease awareness, and the presence of a large pool of undiagnosed patients.
Thyroid Gland Disorder Treatment Market: Drivers and Restraints
The global thyroid gland disorder treatment market is driven by several factors, including the rise in the incidence of thyroid gland disorder, an increase in the number of disease awareness programs, and the development of effective combination drug therapies. The market is also driven by the presence of a large pool of undiagnosed patients due to the asymptomatic nature of thyroid disorders.
However, the market growth is hampered by the side effects of drugs leading to low adherence and stringent government regulations for the approval of combination therapies. The market is also hindered by the lack of awareness among the general population about the symptoms and treatment of thyroid gland disorders.
Thyroid Gland Disorder Treatment Market: Competitive Landscape
The global thyroid gland disorder treatment market is highly competitive, with several players operating in the market. The market players are focusing on developing effective combination drug therapies to treat thyroid gland disorders. The market players are also investing in research and development activities to improve the efficacy and safety of existing drugs.
Some of the key players operating in the market are Abbott Laboratories, Mylan N.V., Pfizer Inc., Merck KGaA, Sanofi S.A., GlaxoSmithKline plc, Novartis International AG, and Allergan plc.
Thyroid Gland Disorder Treatment Market: Future Outlook
The global thyroid gland disorder treatment market is expected to grow at a steady pace during the forecast period. The market is driven by the rise in the incidence of thyroid gland disorder, an increase in the number of disease awareness programs, and the development of effective combination drug therapies. The market growth is also driven by the presence of a large pool of undiagnosed patients due to the asymptomatic nature of thyroid disorders.
However, the market growth is hampered by the side effects of drugs leading to low adherence and stringent government regulations for the approval of combination therapies. The market players are investing in research and development activities to improve the efficacy and safety of existing drugs. The market players are also focusing on developing effective combination drug therapies to treat thyroid gland disorders. The market is expected to grow at a steady pace during the forecast period due to the increasing demand for effective treatment options for thyroid gland disorders.
- Hypothyroidism treatment market
- Hyperthyroidism treatment market
- Thyroid cancer treatment market
- Thyroid hormone replacement therapy market
- Radioactive iodine therapy market
News Source : Prudent Markets
Source Link :Thyroid Gland Disorder Treatment Market 2023 Size, Share,/