Home > Healthcare & Medical Devices > Thyroid Gland Disorder Treatment Market
Thyroid Gland Disorder Treatment Market size will display tremendous expansion during the forecast period of 2023-2032. The incidence of these ailments is on the rise due to various environmental and genetic factors. According to the American Thyroid Association (ATA), over 12% of American citizens may experience a thyroid condition during their lifetime. People are becoming more aware of the symptoms and causes of these disorders and are taking important steps to improve their health and wellbeing.
However, the Russia-Ukraine conflict had a negative impact on thyroid gland disorder treatment market development as patients were forced to either postpone or cancel their check-up appointments. Since all the healthcare facilities were dedicated to treating critically injured civilians and military personnel, patients with thyroid gland ailments could not get access to primary healthcare facilities. Also, sudden halt in import-export activities delayed the start of clinical trials for developing novel thyroid drugs, further stifling the industry progress.
Based on disease, thyroid gland disorder treatment industry is segmented into hyperthyroidism and hypothyroidism. The hypothyroidism segment is predicted to capture a sizeable market revenue by 2032 due to the rising demand for therapeutic solutions to treat this ailment. Hypothyroidism cases are increasing at a significant rate across the globe.
In terms of route of administration, thyroid gland disorder treatment market covers oral, intravenous, and other areas. The industry size from the oral segment is projected to observe a robust CAGR through 2032 as this route of administration offers greater efficacy and facilitates faster drug delivery. For example, consuming levothyroxine, a synthetic thyroid hormone, orally can help restore adequate amounts of the hormone and reverse the symptoms associated with hypothyroidism.
North America thyroid gland disorder treatment industry share will increase at an appreciable pace during the forecast timeline as the prevalence of this medical condition is growing across the region. According to statistics by the American Thyroid Association (ATA), around 20 million people in the U.S. are suffering from some form of thyroid cancer. The report further states that nearly 60% of those living with a thyroid ailment are not aware of their condition. Governments are raising their investments in the healthcare sector to overcome these challenges, which will further augment the market trends in the forthcoming years.
Some of the eminent organizations operating in thyroid gland disorder treatment market include Pfizer, Inc., Gemini Laboratories, LLC. (Amneal Pharmaceuticals), Lannett Company, Inc., GlaxoSmithKline plc, Abbott, Mylan N.V. (Viatris), AbbVie, Inc., Acella Pharmaceuticals, LLC (Alora Pharmaceuticals, LLC), Amgen Inc., and Merck KGaA, among many others.