Analyst Viewpoint
Rise in demand for early detection of thyroid disorders is prompting several prominent players to develop innovative diagnostic tests. This, in turn, is projected to drive the thyroid gland disorders treatment market growth in the next few years. Growing incidence of hypothyroidism and hyperthyroidism and rising government initiatives to screen thyroid gland disorders are fueling the global market demand.
Changing lifestyles, environmental influences, and enhanced diagnostic capabilities are boosting the growth of the thyroid gland disorders treatment industry. Additionally, development of effective combination drug therapies with reduced side-effects is anticipated to fuel the market for treatment of thyroid dysfunction. Furthermore, evolving healthcare trends and advances in medical research are anticipated to offer lucrative thyroid gland disorders treatment business opportunities to drug manufacturers in the next few years.
Thyroid gland disorders majorly refer to medical conditions, such as hypothyroidism and hyperthyroidism, which may cause elevated or decreased levels of hormones that regulate the rate of metabolism in the body. Iodine deficiency is the most common cause of thyroid disorders. According to the National Center of Biotechnology Information, in August 2022, iodine was among the common nutrient deficiencies and is estimated to have adversely affected 35% to 45% of the global population in 2021.
According to a Statpearls article published in July 2022, more number of women aged 65 and above suffer from subclinical hyperthyroidism as compared to men; such that 0.4/1000 women and 0.1/1000 men are found battling hyperthyroidism after crossing the age of 65.
The research report on thyroid gland disorders treatment market encompasses products and services that address or treat various thyroid gland-related medical conditions. Key components of treatment include tests for accurate diagnosis and monitoring, prescription medications, and surgical interventions.
One of the major thyroid gland disorders treatment market trends is the usage of radioactive iodine (I-131) for treating hyperthyroidism. Presently, it is preferred as the very first line of treatment, as it successfully reduces quantity of thyroxin along with size of gland, as compared to surgery.
Expenses associated with thyroid medications and treatments can be substantially high. Long-term management of thyroid diseases, including prescription drugs, radioactive iodine therapy, and surgical interventions, can strain budgets of patients. Some patients may seek alternative therapies or complementary medicine, which in turn is likely to hamper the adoption of conventional thyroid dysfunction therapeutics.
According to the Lancet, more than 40% of the global population is affected by thyroid disorders. It further states that over 1 billion individuals worldwide are at the risk of iodine deficiency. Iodine deficiency is the most common cause of thyroid disease, specifically hypothyroidism or an underactive thyroid. Therefore, rise in number of patients with iodine deficiency is boosting the thyroid dysfunction intervention market.
Increase in number of approvals obtained by and diagnostics tests conducted by market players are expected to propel the thyroid gland disorders treatment market revenue in the near future. For instance, in November 2021, Bloom Diagnostics, a Switzerland-based med-tech company, introduced its Bloom Thyroid Test for helping in the detection of hypothyroidism.
Thyroid cancer is the fifth most common cancer in women in the U.S. There has been a steady rise in the incidence of thyroid cancer, globally. PTC detection, in particular, has increased by 240% in the last three decades. An in depth look at the future analysis of gobal market reveals an increasing trend in the rate of diagnostic imaging due to rise in incidence of thyroid cancer.
There has been a significant increase in the incidence and prevalence of thyroid disorders in the elderly population. Hypothyroidism, a condition where the thyroid gland does not produce enough thyroid hormones, occurs in 10% of females and 2% of males in patients older than 60 years.
Geriatric patients need treatment with age-conducive dosages of levothyroxine along with a long-term follow-up. This is compelling government organizations across the world to increase the awareness about timely diagnosis and treatment of thyroid gland disorders.
In January 2020, the American Association of Clinical Endocrinology (AACE) launched the ‘UP To Here Campaign’ with an aim to increase the awareness about thyroid diseases. Such awareness programs are encouraging individuals to seek effective treatment for thyroid gland disorders, which in turn is boosting market progress.
North America dominates the thyroid gland disorders treatment market due to growing incidences of thyroid disorders in the region. According to the Canadian Cancer Society 2022 report, close to 6,700 Canadians were diagnosed with thyroid cancer in the year 2022. As per the American Cancer Society, in 2023, an estimated 43,720 adults (12,540 men and 31,180 women) in the U.S. are likely to be diagnosed with thyroid cancer.
As per the European Society of Endocrinology, thyroid cancer is the second most frequent cancer among women in Europe. It further states that thyroid cancer has been increasing at the rate of 4% every year for the last 30 years. This is expected to drive the demand for thyroid gland disorders treatment during the forecast period.
The thyroid gland disorder treatment market is highly competitive due to the presence of established players and stringent regulations compliance requirements. This is making it difficult for smaller players to enter the market with innovative offerings. Merck KGaA, Pfizer, Inc., Takeda Pharmaceutical Company Ltd., Allergan, Sanofi S.A., AbbVie Inc., Lannett Company, Inc., Aspen, Novartis AG, and Mylan N.V. are the key participants of thyroid gland disorders treatment market scope.
Key players in thyroid gland disorders treatment market report have been profiled based on various parameters such as company overview, business strategies, financial overview, product portfolio, and business segments.
| Attribute | Detail |
|---|---|
| Market Value in 2022 (Base Year) | US$ 2.2 Bn |
| Market Forecast Value in 2031 | US$ 3.3 Bn |
| Growth Rate (CAGR) | 4.7% |
| Forecast Period | 2023-2031 |
| Quantitative Units | US$ Bn for Value |
| Market Analysis | Qualitative analysis includes drivers, restraints, opportunities, key trends, key market indicators, Porter’s Five Forces analysis, value chain analysis, and SWOT analysis. Furthermore, at the regional level, the qualitative analysis includes key trends, price trends, and key supplier analysis. |
| Competition Landscape |
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| Regions Covered |
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| Market Segmentation |
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| Companies Profiled |
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| Scope for Customization | Available upon Request |
| Pricing | Available upon Request |
The global market was valued at US$ 2.2 Bn in 2022
It is projected to grow at a CAGR of 4.7% from 2023 to 2031
Increase in prevalence of thyroid disorders and growth of geriatric population
In terms of disorder, the hypothyroidism segment held largest share in 2022
North America is estimated to dominate in the next few years
Merck KGaA, Pfizer, Inc., Takeda Pharmaceutical Company Ltd., Allergan, Sanofi S.A., AbbVie Inc., Lannett Company, Inc., Aspen, Novartis AG, and Mylan N.V.
1. Executive Summary
1.1. Market Definition and Scope
1.2. Market Segmentation
1.3. Key Research Objectives
1.4. Research Highlights
2. Assumptions and Research Methodology
3. Executive Summary: Global Thyroid Gland Disorders Treatment Market
4. Market Overview
4.1. Market Segmentation
4.1.1. Segment Definition
4.1.2. Industry Evolution / Developments
4.2. Overview
4.3. Market Dynamics
4.3.1. Drivers
4.3.2. Restraints
4.3.3. Opportunities
4.4. Global Thyroid Gland Disorders Treatment Market Analysis and Forecast, 2023-2031
5. Key Insights
5.1. Pipeline Analysis
5.2. List of Types of Thyroid Gland Disorder Tests
5.3. Disorder Prevalence & Incidence Rate Globally With Key Countries
5.4. COVID-19 Pandemic Impact on Industry
6. Thyroid Gland Disorders Treatment Market Analysis and Forecast, by Disorder
6.1. Introduction and Definitions
6.2. Key Findings/Developments
6.3. Market Value Forecast, by Disorder, 2023-2031
6.3.1. Hypothyroidism
6.3.1.1. Levothyroxine
6.3.1.2. Liothyronine
6.3.2. Hyperthyroidism
6.3.2.1. Imidazole
6.3.2.2. Propacil
6.4. Market Attractiveness, by Disorder
7. Global Thyroid Gland Disorders Treatment Market Analysis and Forecast, by Region
7.1. Key Findings
7.2. Market Value Forecast, by Region, 2023-2031
7.2.1. North America
7.2.2. Europe
7.2.3. Asia Pacific
7.2.4. Latin America
7.2.5. Middle East & Africa
7.3. Market Attractiveness, by Region
8. North America Thyroid Gland Disorders Treatment Market Analysis and Forecast
8.1. Introduction
8.1.1. Key Findings
8.2. Market Value Forecast, by Disorder, 2023-2031
8.2.1. Hypothyroidism
8.2.1.1. Levothyroxine
8.2.1.2. Liothyronine
8.2.2. Hyperthyroidism
8.2.2.1. Imidazole
8.2.2.2. Propacil
8.3. Market Attractiveness, by Disorder
8.4. Market Value Forecast, by Country, 2023–2031
8.4.1. U.S.
8.4.2. Canada
8.5. Market Attractiveness Analysis
8.5.1. By Disorder
8.5.2. By Country
9. Europe Thyroid Gland Disorders Treatment Market Analysis and Forecast
9.1. Introduction
9.1.1. Key Findings
9.2. Market Value Forecast, by Disorder, 2023-2031
9.2.1. Hypothyroidism
9.2.1.1. Levothyroxine
9.2.1.2. Liothyronine
9.2.2. Hyperthyroidism
9.2.2.1. Imidazole
9.2.2.2. Propacil
9.3. Market Attractiveness, by Disorder
9.4. Market Value Forecast, by Country/Sub-region, 2023–2031
9.4.1. Germany
9.4.2. U.K.
9.4.3. France
9.4.4. Italy
9.4.5. Spain
9.4.6. Rest of Europe
9.5. Market Attractiveness Analysis
9.5.1. By Disorder
9.5.2. By Country/Sub-region
10. Asia Pacific Thyroid Gland Disorders Treatment Market Analysis and Forecast
10.1. Introduction
10.1.1. Key Findings
10.2. Market Value Forecast, by Disorder, 2023-2031
10.2.1. Hypothyroidism
10.2.1.1. Levothyroxine
10.2.1.2. Liothyronine
10.2.2. Hyperthyroidism
10.2.2.1. Imidazole
10.2.2.2. Propacil
10.3. Market Attractiveness, by Disorder
10.4. Market Value Forecast, by Country/Sub-region, 2023-2031
10.4.1. China
10.4.2. Japan
10.4.3. India
10.4.4. Australia & New Zealand
10.4.5. Rest of Asia Pacific
10.5. Market Attractiveness Analysis
10.5.1. By Disorder
10.5.2. By Country/Sub-region
11. Latin America Thyroid Gland Disorders Treatment Market Analysis and Forecast
11.1. Introduction
11.1.1. Key Findings
11.2. Market Value Forecast, by Disorder, 2023-2031
11.2.1. Hypothyroidism
11.2.1.1. Levothyroxine
11.2.1.2. Liothyronine
11.2.2. Hyperthyroidism
11.2.2.1. Imidazole
11.2.2.2. Propacil
11.3. Market Attractiveness, by Disorder
11.4. Market Value Forecast, by Country/Sub-region, 2023-2031
11.4.1. Brazil
11.4.2. Mexico
11.4.3. Rest of Latin America
11.5. Market Attractiveness Analysis
11.5.1. By Disorder
11.5.2. By Country/Sub-region
12. Middle East & Africa Thyroid Gland Disorders Treatment Market Analysis and Forecast
12.1. Introduction
12.1.1. Key Findings
12.2. Market Value Forecast, by Disorder, 2023-2031
12.2.1. Hypothyroidism
12.2.1.1. Levothyroxine
12.2.1.2. Liothyronine
12.2.2. Hyperthyroidism
12.2.2.1. Imidazole
12.2.2.2. Propacil
12.3. Market Attractiveness, by Disorder
12.4. Market Value Forecast, by Country/Sub-region, 2023-2031
12.4.1. GCC Countries
12.4.2. South Africa
12.4.3. Rest of Middle East & Africa
12.5. Market Attractiveness Analysis
12.5.1. By Disorder
12.5.2. By Country/Sub-region
13. Competition Landscape
13.1. Market Player – Competition Matrix (By Tier and Size of Companies)
13.2. Market Share Analysis, by Company (2022)
13.3. Company Profiles
13.3.1. Merck KGaA
13.3.1.1. Company Overview (HQ, Business Segments, Employee Strength)
13.3.1.2. Disorder Portfolio
13.3.1.3. Financial Overview
13.3.1.4. SWOT Analysis
13.3.1.5. Strategic Overview
13.3.2. Pfizer, Inc.
13.3.2.1. Company Overview (HQ, Business Segments, Employee Strength)
13.3.2.2. Disorder Portfolio
13.3.2.3. Financial Overview
13.3.2.4. SWOT Analysis
13.3.2.5. Strategic Overview
13.3.3. Takeda Pharmaceutical Company Ltd.
13.3.3.1. Company Overview (HQ, Business Segments, Employee Strength)
13.3.3.2. Disorder Portfolio
13.3.3.3. Financial Overview
13.3.3.4. SWOT Analysis
13.3.3.5. Strategic Overview
13.3.4. Allergan
13.3.4.1. Company Overview (HQ, Business Segments, Employee Strength)
13.3.4.2. Disorder Portfolio
13.3.4.3. Financial Overview
13.3.4.4. SWOT Analysis
13.3.4.5. Strategic Overview
13.3.5. Sanofi S.A.
13.3.5.1. Company Overview (HQ, Business Segments, Employee Strength)
13.3.5.2. Disorder Portfolio
13.3.5.3. Financial Overview
13.3.5.4. SWOT Analysis
13.3.5.5. Strategic Overview
13.3.6. AbbVie Inc.
13.3.6.1. Company Overview (HQ, Business Segments, Employee Strength)
13.3.6.2. Disorder Portfolio
13.3.6.3. Financial Overview
13.3.6.4. SWOT Analysis
13.3.6.5. Strategic Overview
13.3.7. Lannet Company, Inc.
13.3.7.1. Company Overview (HQ, Business Segments, Employee Strength)
13.3.7.2. Disorder Portfolio
13.3.7.3. Financial Overview
13.3.7.4. SWOT Analysis
13.3.7.5. Strategic Overview
13.3.8. Aspen
13.3.8.1. Company Overview (HQ, Business Segments, Employee Strength)
13.3.8.2. Disorder Portfolio
13.3.8.3. Financial Overview
13.3.8.4. SWOT Analysis
13.3.8.5. Strategic Overview
List of Tables
Table 1: Global Thyroid Gland Disorders Treatment Market Value (US$ Mn) Forecast, by Disorder, 2023-2031
Table 2: Global Thyroid Gland Disorders Treatment Market Value (US$ Mn) Forecast, by Region, 2023-2031
Table 3: North America Thyroid Gland Disorders Treatment Market Value (US$ Mn) Forecast, by Country, 2023-2031
Table 4: North America Thyroid Gland Disorders Treatment Market Value (US$ Mn) Forecast, by Disorder, 2023-2031
Table 5: Europe Thyroid Gland Disorders Treatment Market Value (US$ Mn) Forecast, by Country/Sub-region, 2023-2031
Table 6: Europe Thyroid Gland Disorders Treatment Market Value (US$ Mn) Forecast, by Disorder, 2023-2031
Table 7: Asia Pacific Thyroid Gland Disorders Treatment Market Value (US$ Mn) Forecast, by Country/Sub-region, 2023-2031
Table 8: Asia Pacific Thyroid Gland Disorders Treatment Market Value (US$ Mn) Forecast, by Disorder, 2023-2031
Table 9: Latin America Thyroid Gland Disorders Treatment Market Value (US$ Mn) Forecast, by Country/Sub-region, 2023-2031
Table 10: Latin America Thyroid Gland Disorders Treatment Market Value (US$ Mn) Forecast, by Disorder, 2023-2031
Table 11: Middle East & Africa Thyroid Gland Disorders Treatment Market Value (US$ Mn) Forecast, by Country/Sub-region, 2032-2031
Table 12: Middle East & Africa Thyroid Gland Disorders Treatment Market Value (US$ Mn) Forecast, by Disorder, 2023-2031
List of Figures
Figure 1: Global Thyroid Gland Disorders Treatment Market Value (US$ Mn) Forecast, 2023-2031
Figure 2: Global Thyroid Gland Disorders Treatment Market Value Share, by Disorder, 2022
Figure 3: Global Thyroid Gland Disorders Treatment Market Value Share Analysis, by Disorder, 2022 and 2031
Figure 4: Global Thyroid Gland Disorders Treatment Market Attractiveness Analysis, by Disorder, 2023–2031
Figure 5: Global Thyroid Gland Disorders Treatment Market Value Share Analysis, by Region, 2022 and 2031
Figure 6: Global Thyroid Gland Disorders Treatment Market Attractiveness Analysis, by Region, 2023–2031
Figure 7: North America Thyroid Gland Disorders Treatment Market Value (US$ Mn) Forecast, 2023-2031
Figure 8: North America Thyroid Gland Disorders Treatment Market Value Share Analysis, by Country, 2022 and 2031
Figure 9: North America Thyroid Gland Disorders Treatment Market Attractiveness Analysis, by Country, 2023–2031
Figure 10: North America Thyroid Gland Disorders Treatment Market Value Share Analysis, by Disorder, 2022 and 2031
Figure 11: North America Thyroid Gland Disorders Treatment Market Attractiveness Analysis, by Disorder, 2023–2031
Figure 12: Europe Thyroid Gland Disorders Treatment Market Value (US$ Mn) Forecast, 2023-2031
Figure 13: Europe Thyroid Gland Disorders Treatment Market Value Share Analysis, by Country/Sub-region, 2022 and 2031
Figure 14: Europe Thyroid Gland Disorders Treatment Market Attractiveness Analysis, by Country/Sub-region, 2023–2031
Figure 15: Europe Thyroid Gland Disorders Treatment Market Value Share Analysis, by Disorder, 2022 and 2031
Figure 16: Europe America Thyroid Gland Disorders Treatment Market Attractiveness Analysis, by Disorder, 2023–2031
Figure 17: Asia Pacific Thyroid Gland Disorders Treatment Market Value (US$ Mn) Forecast, 2023-2031
Figure 18: Asia Pacific Thyroid Gland Disorders Treatment Market Value Share Analysis, by Country/Sub-region, 2022 and 2031
Figure 19: Asia Pacific Thyroid Gland Disorders Treatment Market Attractiveness Analysis, by Country/Sub-region, 2023–2031
Figure 20: Asia Pacific Thyroid Gland Disorders Treatment Market Value Share Analysis, by Disorder, 2022 and 2031
Figure 21: Asia Pacific America Thyroid Gland Disorders Treatment Market Attractiveness Analysis, by Disorder, 2023–2031
Figure 22: Latin America Thyroid Gland Disorders Treatment Market Value (US$ Mn) Forecast, 2023-2031
Figure 23: Latin America Thyroid Gland Disorders Treatment Market Value Share Analysis, by Country/Sub-region, 2022 and 2031
Figure 24: Latin America Thyroid Gland Disorders Treatment Market Attractiveness Analysis, by Country/Sub-region, 2023–2031
Figure 25: Latin America Thyroid Gland Disorders Treatment Market Value Share Analysis, by Disorder, 2022 and 2031
Figure 26: Latin America Thyroid Gland Disorders Treatment Market Attractiveness Analysis, by Disorder, 2023–2031
Figure 27: Middle East & Africa Thyroid Gland Disorders Treatment Market Value (US$ Mn) Forecast, 2023-2031
Figure 28: Middle East & Africa Thyroid Gland Disorders Treatment Market Value Share Analysis, by Country/Sub-region, 2022 and 2031
Figure 29: Middle East & Africa Thyroid Gland Disorders Treatment Market Attractiveness Analysis, by Country/Sub-region, 2023–2031
Figure 30: Middle East & Africa America Thyroid Gland Disorders Treatment Market Value Share Analysis, by Disorder, 2023–2031
Figure 31: Middle East & Africa America Thyroid Gland Disorders Treatment Market Attractiveness Analysis, by Disorder, 2023–2031
Figure 32: Global Thyroid Gland Disorders Treatment Market Share Analysis, by Company (2022)
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Thyroid Gland Disorders Treatment Market
