Thyroid Gland Disorder Treatment Market Leaders, Share, Analysis & Trends

Posted by Ryan Shaw on August 28th, 2019

The global Thyroid Gland Disorder Treatment Market size is expected to reach USD 2.6 billion by 2025, according to a new report by Grand View Research, Inc., and exhibit a 3.2% CAGR during the forecast period. Increase in 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 market growth. There are various private and public organizations working toward spreading awareness related to disease management, such as British Thyroid Foundation, The American Thyroid Association (ATA), and Thyroid Foundation of Canada.

Rising demand for these drugs has resulted in 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.

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Further key findings from the report suggest:

  • Hypothyroidism held the dominant revenue share in 2016 and is expected to maintain its position throughout the forecast period. On the other hand, hyperthyroidism is expected to witness steady growth on account of increase in incidence of Graves’ disease
  • The oral route is the most preferred or most frequently used route of administration owing to its convenience and simplicity, which helps improve patient compliance. The market is driven by the presence of a strong pipeline of oral anti-thyroid medications
  • Wholesalers accounted for the largest revenue share as of 2016 owing to increasing spending on outpatient prescription drugs along with overall healthcare expenditure. E-commerce is expected to witness lucrative growth in the coming years
  • The U.S. thyroid gland disorder treatment market is anticipated to exceed USD 1.03 billion by 2025 due to presence of sophisticated healthcare infrastructure, increased patient awareness, and high healthcare expenditure and R&D in drug discovery and development
  • Asian countries, especially India and China, are expected to observe remarkable growth in the coming years
  • The market is fragmented in nature, with presence of various large and small pharmaceutical players
  • Some of the key companies in the market are Abbott; AbbVie, Inc.; Merck KGaA; Mylan N.V.; Amgen Inc.; Pfizer, Inc.; GlaxoSmithKline plc.; and Lannett Company, Inc.

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Ryan Shaw

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Ryan Shaw
Joined: August 11th, 2017
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