Market
Synopsis of Global Thyroid Disorder Market
Market
Scenario:
Thyroid gland convert iodine taken from food into
triiodothyronine (T3) and thyroxine (T4). These hormones are released into the
blood stream and play an important role in the regulation of metabolism, growth
and development, intelligence deficit etc. Thyroid hormones also affect
fertility, kidney functions and cardiac functions as well. According to the
international thyroid society almost 20 million Americans suffer from some form
of thyroid disease and more than 12 percent of the U.S. population will develop
a thyroid condition during their lifetime. The World Health Organization (WHO)
has identified that iodine deficiency can easily be prevented which if not done
can cause brain damage.
The market driving factors for world thyroid
disorder market are growing screening and prevalence of thyroid disorders, good
reimbursement for treatment and increasing awareness of implications of thyroid
disorders.
Other factors driving the market’s growth are rise
in risk factors such as obesity, diabetes, auto immune diseases etc. For
example the percentage of the population diagnosed with hashimoto’s thyroiditis
is growing and its occurrence is twice in patients who have diabetes.
Increasing focus of developing regions’ governments on the healthcare sector is
also driving the thyroid disorders treatment market. Rise in the number of
thyroid cancer cases and the high cure rates of thyroid cancer is another
factor driving the growth of this market.
The market’s restraints are the costs associated
with the treatment and the rise of alternative medicines for the treatment of
thyroid disorders. However, side-effects associated with the current medication
is the most critical restraint. Thyroid disorders treatment medication have a
low therapeutic index which is the difference between safe and effective dose.
The market for thyroid disorders is a consolidated
market with few companies dominating the market. Among the hypothyroidism drugs
Levothyroxine, Cytomel and Liothyronine top the market, while hyperthyroidism
market leaders include imidazole and propacil.
Taking all the factors into consideration, we
expect the global thyroid disorder market which was US$1990 million in 2016 to
reach US$2400.8 million by 2022, growing with a CAGR of 3.1%.
Study
Objectives Global Thyroid Disorder Market:
- To
provide detail analysis of the market structure along with forecast for
the next 6 years of various segments and sub-segments of the global
thyroid disorder market
- To
provide insights about factors affecting the market growth
- To
analyze the market based on various analyses which includes price
analysis, supply chain analysis, Porters Five Force analysis etc.
- To
provide past and estimated future revenue of the market’s segments and
sub-segments with respect to four main geographies and their countries
which includes Americas, Europe, Asia-Pacific, and Middle East &
Africa.
- To
provide country level analysis of the market with respect to the current
market size and future growth prospect.
- To
provide country level analysis of the market for segments which includes
by treatment (drugs and supplements, diagnostics and surgery), by disease
indication (hypothyroidism, hyperthyroidism and other), by route of
administration (oral, injectable and others) and by end users (hospitals
and home use)
- To
provide overview of key players and their strategic profiling in the
market; comprehensively analyzing their core competencies and drawing a
competitive landscape for the market
- To
track and analyze competitive developments such as joint ventures,
strategic alliances, mergers and acquisitions, new product developments
along with research and developments globally.
Intended Audience
- Thyroid
diagnostic and surgical manufacturers
- Anti-thyroid
disorder drugs suppliers
- Private
research laboratories
- Research
and development (R&D) companies
- Market
research and consulting service providers
- Government
research laboratories
- Contract
manufacturing organizations
Key
Players for Global Thyroid Disorder Market:
Some of
the key players in this market are namely Allergan, Abbott Laboratories,
GlaxoSmithKline plc, Merck & Co., Inc., Pfizer Inc., RLC LABS, AbbVie,
Mylan and others.
Segments:
Global
thyroid disorder market has been segmented on the basis of treatment which
comprises of drugs and supplements, diagnostics and surgery. On the basis of
disease indication; market is segmented into hypothyroidism, hyperthyroidism and other. On the basis of route of
administration the market is segmented into oral, injectable and others. On the
basis of end users the market is segmented into hospitals and home use.
Regional
Analysis of Global Thyroid Disorder Market:
Globally
America is the largest market for thyroid disorder and Europe is the
second-largest market. Developed regions are expected to lose their market
leadership in future due to growing Asia Pacific region which is expected to be
the fastest growing region in thyroid disorder market. This region will be led
by China and India. Africa is expected to be a moderately growing market in the
global thyroid disorder market.
The
report for global thyroid disorder market by Market Research
Future comprises of extensive primary research along with detail analysis
of qualitative as well as quantitative aspects by various industry experts and
key opinion leaders to gain a deeper insight of the market and industry
performance. The report gives a clear picture of current market scenario which
includes past and estimated future market size with respect to value and
volume, technological advancement, macro economical and governing factors in
the market. The report provides detail information about and strategies used by
top key players in the industry. The report also gives a broad study of the
global thyroid market’s segments and regions.
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