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Thyroid Gland Disorder Treatment Market - By Drug Type (Levothyroxine, Liothyronine, Imidazole-based Compounds, Beta-blockers), Disease (Hypothyroidism, Hyperthyroidism), Route of Administration, Distribution Channel – Global Forecast (2024 – 2032)
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Thyroid Gland Disorder Treatment Market
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Base Year: 2023
Companies covered: 10
Tables & Figures: 276
Countries covered: 22
Pages: 187
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Thyroid Gland Disorder Treatment Market Size
Thyroid Gland Disorder Treatment Market size was valued at around USD 2.4 billion in 2023 and is estimated to register a CAGR of 3.9% between 2024 and 2032. Thyroid gland disorder treatment refers to medical interventions and therapies aimed at managing conditions affecting the thyroid gland. The thyroid gland, located in the front of the neck, plays a crucial role in regulating various bodily functions through the production of thyroid hormones, primarily thyroxine (T4) and triiodothyronine (T3).
Thyroid disorders, encompassing hypothyroidism, hyperthyroidism, Graves' disease, thyroid nodules, thyroiditis, and thyroid cancer, are on the rise worldwide due to various factors such as aging populations, environmental influences, lifestyle shifts, and enhanced detection methods. For instance, Graves' disease is a prevalent autoimmune condition in Indians, constituting 50–80% of hyperthyroidism cases, and globally, it's the primary cause of hyperthyroidism. With an annual occurrence of approximately 20–30 individuals per 100,000 in iodine-rich regions, it affects about 3% of females and 0.5% of males worldwide. This escalating prevalence necessitates more effective diagnostic and treatment options to cater to the growing patient population, thereby propelling market growth.
Technological advancements have led to the development of innovative drug formulations for the treatment of thyroid disorders. These advancements include improved pharmaceutical drug delivery which is estimated to reach USD 3.2 trillion by 2032, novel formulations with enhanced bioavailability, and targeted therapies.
Thyroid Gland Disorder Treatment Market Trends
Rising healthcare expenditure globally reflects a growing investment in the diagnosis, treatment, and management of thyroid disorders. Governments, healthcare organizations, and insurance providers allocate significant resources to address the healthcare needs of individuals with thyroid disorders.
Thyroid Gland Disorder Treatment Market Analysis
Based on drug type, the market is segmented into levothyroxine, liothyronine, propylthiouracil, imidazole-based compounds, beta-blockers, and other drug types. The levothyroxine segment is estimated to account for USD 1.6 billion by 2032.
Based on disease, the thyroid gland disorder treatment market is segmented into hypothyroidism and hyperthyroidism. The hypothyroidism segment held a substantial revenue of USD 1.9 billion in 2023.
Based on route of administration, the thyroid gland disorder treatment market is segmented into oral, intravenous, and other routes of administration. The oral segment is anticipated to reach USD 2.4 billion by 2032.
Based on distribution channel, the thyroid gland disorder treatment market is segmented into wholesalers/distributors, retail chain, online distribution, and other distribution channels. The wholesalers/distributors segment held a substantial revenue of USD 1.5 billion in 2023.
In 2023, North America held a significant market share of 40.7% in the thyroid gland disorder treatment market and is predicted to witness substantial market growth over the analysis timeline.
Thyroid Gland Disorder Treatment Market Share
The thyroid gland disorder treatment industry is competitive in nature, with several large multinationals and small and mid-sized companies competing in the industry. The development and launch of novel advanced products based on different technologies is among a key market strategy. Some of the leading industry players have a notable presence in the market.
Thyroid Gland Disorder Treatment Market Companies
Some of the eminent market participants operating in the thyroid gland disorder treatment industry include:
Thyroid Gland Disorder Treatment Industry News:
The thyroid gland disorder treatment market research report includes an in-depth coverage of the industry with estimates & forecast in terms of revenue in USD Million from 2021 to 2032 for the following segments:
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Market, By Drug Type
Market, By Disease
Market, By Route of Administration
Market, By Distribution Channel
The above information is provided for the following regions and countries: