As per Zion Market Research, the global thyroid gland disorder treatment market is anticipated to witness a CAGR of over 3.9% during the forecasted period 2019–2026. The surging incidence of hypothyroidism and increasing awareness levels amongst people are key factors contributors to market growth. Several companies are partnering with administration organizations to create awareness about disease management and this is expected to boost the adoption of drugs for treating thyroid gland disorders during the estimated period. Thyroid disorders might result from structural or functional abnormalities. So far, it has affected around 200 million people globally and in most countries, half of the population is unidentified. This condition is more normal amongst women and the elderly. In 2015, data by the TFC (Thyroid Foundation of Canada) stated that one in every 1700 kids in Canada is affected by congenital hypothyroidism. This data demonstrates the budding demand for anti-thyroid drugs in the future.
Some of the major players in the global market are Pfizer; AbbVie Inc.; Lannett Company, Inc.; Abbott; Merck KGaA; Mylan N.V.; GlaxoSmithKline; and Amgen.
Increasing Collaborations Amid Public & Private Organizations To Create Awareness Boosting The Global Thyroid Gland Disorder Treatment Market
The surge in collaborative accords amid public & private organizations to create awareness related to thyroid management amongst healthcare professionals & patients is anticipated to boost the market growth. Various administrative organizations like the ATA (American Thyroid Association), AAO (American Academy of Otolaryngology), BTF (British Thyroid Foundation), and TFC are engaged in different promotional activities to generate awareness about the disease and its treatment alternatives. The pharmaceutical companies are also undertaking projects to back awareness campaigns or execute promotional strategies to generate awareness. Such attempts are projected to impel the demand during the forecasted period.
The global thyroid gland disorder treatment market is bifurcated based on the route of administration, indication, distribution channel, and regional analysis. Based on the indication, the market is divided into hyperthyroidism and hypothyroidism. Based on the route of administration, the market is divided into intravenous, oral, and others. Based on the distribution channel, the market is divided into retail chains, wholesalers/distributors, online distribution, and others.
North America And Asia Pacific To Witness Massive Growth In The Global Thyroid Gland Disorder Treatment Market
Based on geographical analysis, the global thyroid gland disorder treatment market is divided into North America, Europe, Latin America, Asia Pacific, and Middle East & Africa. The North America region contributed to the major revenue share in 2016 and is projected to expand at a noteworthy CAGR during the forecasted period. The existence of streamlined healthcare facilities, higher awareness levels among people, and sufficient availability of treatment choices to select from are some of the key aspects accountable for its large revenue share. Planned partnerships among pharmaceutical firms and administration organizations are on a rise across the region, mainly to advance generic drugs and create awareness amongst healthcare professionals. The market in the Asia Pacific region is anticipated to exhibit a profitable CAGR since manufacturers across this region are focusing on the advancement of affordable products having higher efficiency. Additionally, prominent global players are investing in regional companies, attracted by the low cost of labor and raw material.
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The global thyroid gland disorder treatment market is segmented as follows:
By route of administration:
By distribution channel:
- Retail Chain
- Online Distribution
- North America
- The U.S.
- The UK
- Rest of Europe
- Asia Pacific
- South Korea
- Southeast Asia
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East & Africa
- South Africa
- Rest of Middle East & Africa
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