Hypothyroidism Market Size Expansion Fueled by Increased Product Introductions

0
755

Hypothyroidism Market Highlights:

The market size for hypothyroidism was estimated at USD 2.1 billion in 2022. A compound annual growth rate (CAGR) of 4.60% is anticipated by the hypothyroidism market size report over the forecast period (2023-2032), rising from USD 2.19 billion in 2023 to USD 3.14 billion by 2032.

Increasing prevalence of hypothyroidism, advancements in healthcare facilities, and favorable reimbursement and funding policies are expected to drive the market growth over the forecast period. According to information suggested by the guideline of the American Thyroid Association (ATA), 20 million Americans had some form of hypothyroidism disorder. However, side-effects related to available therapeutics can restrain the market growth over the assessment period.

Regional Analysis:
Geographically, the Americas is expected to dominate the global market owing to the increased prevalence of hypothyroidism. According to the American Thyroid Association, more than 12% of the US population develops a thyroid disorder during their lifetime. Europe is expected to hold the second largest position in the global market owing to the favorable reimbursement and funding policies. According to the Thyroid UK, the National Health Service (NHS), England spent more than ~USD 42 Million on liothyronine (a drug for the treatment of hypothyroidism). Asia-Pacific is expected to be the fastest growing market owing to the presence of a large patient pool and improving healthcare infrastructure. According to a study published in the Journal of Clinical and Diagnostic Research, nearly 42 Million people residing in the country suffer from thyroid disorders. This prevalence of thyroid, consequently, results in an increased demand for therapeutic. This is projected to drive market growth. Moreover, the Middle East and Africa region is expected to account for the least market share in the global market.

Segmentation:
The Global Hypothyroidism Market has been segmented into type of hypothyroidism, diagnosis & treatment, route of administration and end user.The market, on the basis of type of hypothyroidism, has been segmented into primary hypothyroidism, secondary hypothyroidism, and tertiary hypothyroidism.The Global market, on the basis of diagnosis & treatment, has been segmented into diagnosis and treatment. The diagnosis segment is further classified as physical examination, blood tests, imaging scan, and others. The treatment segment is further classified as levothyroxine sodium, liothyronine, and natural desiccated thyroid (NDT).

The levothyroxine sodium is expected to hold the largest market share owing to the growing prevalence of thyroid disorder, and effectiveness of drug. The Synthroid drug by Abbvie holds the major share in the US market. In 2016, Abbvie Inc. generated revenue of 763 USD million with Synthroid drug in US only.The Global Hypothyroidism Market, by route of administration, has been segmented into oral, intravenous, and others. The Global market, on the basis of end users, has been segmented into hospitals, clinics, research & academic institutes and others.

Key Players:
Some of the prominent players mentioned in the 
hypothyroidism market overview report are Pfizer Inc., AbbVie Inc., Merck & Co., Inc., ALLERGAN, Mylan N.V., Erfa Canada Inc, Novartis AG, GlaxoSmithKline plc, RLC Labs and others

About Market Research Future:

Market Research Future (MRFR) is a global market research company that takes pride in its services, offering a complete and accurate analysis with regard to diverse markets and consumers worldwide. Market Research Future has the distinguished objective of providing the optimal quality research and granular research to clients. Our market research studies by products, services, technologies, applications, end users, and market players for global, regional, and country level market segments, enable our clients to see more, know more, and do more, which help answer your most important questions.

Contact Us:

Market Research Future (Part of Wantstats Research and Media Private Limited)

99 Hudson Street, 5Th Floor

New York, NY 10013

United States of America

+1 628 258 0071 (US)

+44 2035 002 764 (UK)

Email: sales@marketresearchfuture.com

Website: https://www.marketresearchfuture.com

Sponsored
Search
Sponsored
Categories
Read More
Products and stores
Unlocking Victory: Acquire Cristian Romero's Rare FC 24 Player Card
Introduction About Cristian Romero Hailing from Argentina, Cristian Gabriel Romero,...
By Xtameem Xtameem 2024-03-17 03:25:10 0 494
Sports and coaches
Elevate Your Gaming Journey with Winbuzz
In today’s digital age, the landscape of online gaming has expanded like never before,...
By Online Cricket India 2024-08-22 05:19:01 0 85
Business
Ad Server Market: A Comprehensive Overview
Market Overview Ad servers are platforms or software that manage the placement and delivery of...
By Anubhav Mishra 2024-12-14 08:05:27 0 0
Art
That are available to players in Madden 25
MUT - Create the ultimate team, play, to win, with the own ultimate team of today's Mut 25 coins...
By Ludwighench Ludwighench 2024-12-21 06:12:28 0 0
Products and stores
Mastering FC 24: Acquire Fabinho's Rare Player Card and Earn Coins Fast
Introduction About Fábio Henrique Tavares Hailing from the vibrant nation of...
By Xtameem Xtameem 2024-04-21 03:53:06 0 461