Thyroid Gland Disorder Treatment Market

Market Overview:

The global thyroid gland disorder treatment market size reached US$ 2.5 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 3.3 Billion by 2032, exhibiting a growth rate (CAGR) of 3.11% during 2024-2032. The rising prevalence of hyperthyroidism and hypothyroidism, increasing utilization of effective combination drug therapies, and the wide availability of undiagnosed patients of thyroid gland disorder represent some of the key factors driving the market.

Thyroid gland disorder is a disease that involves abnormal production of thyroid hormones. It comprises hyperthyroidism, hypothyroidism, thyroiditis, and Hashimoto’s thyroiditis. It shows various symptoms, such as anxiety, irritability, nervousness, trouble sleeping, an enlarged thyroid gland or a goiter, muscle weakness and tremors, irregular menstrual periods in females, eye irritation, dry and coarse hair, and intolerance to cold temperatures. It affects the metabolism of the body with various other hormones, such as thyroxine and triiodothyronine. Thyroid gland disorder can cause inflammation in thyroid glands and iodine deficiency in the body. It is also responsible for an autoimmune condition wherein cells of the body attack and damage the thyroid. It can lead to various types of thyroid cancer, depending upon the specific cell type within the thyroid. It can also produce nodules that can vary in size and may cause compression of nearby structures. It can be treated through anti-thyroid drugs, radioactive iodine, beta blockers, and surgery.

Thyroid Gland Disorder Treatment Market Trends:

At present, there is a rise in the prevalence of hyperthyroidism and hypothyroidism among the masses across the globe. This, along with the thriving healthcare industry, represents one of the key factors supporting the growth of the market. Besides this, the growing awareness among individuals about the benefits of thyroid gland disorder treatment is positively influencing the market. In addition, governing agencies of various countries are organizing disease awareness programs, which are offering lucrative growth opportunities to industry investors. In line with this, the increasing utilization of effective combination drug therapies to treat thyroid gland disorders is propelling the growth of the market. Moreover, the wide availability of undiagnosed patients due to the asymptomatic nature of thyroid disorders is strengthening the growth of the market. Apart from this, there is an increase in the demand for tablets and pills for the treatment of thyroid gland disorders as they can be easily administered by patients on a daily basis. This, coupled with the growing risk of iodine deficiency among individuals around the world, is catalyzing the demand for thyroid gland disorder treatment. Additionally, the rising consumption of alcohol and tobacco is bolstering the growth of the market.

Key Market Segmentation:

IMARC Group provides an analysis of the key trends in each segment of the global thyroid gland disorder treatment market, along with forecasts at the global, regional, and country levels from 2024-2032. Our report has categorized the market based on drug type, diseases type, route of administration, and distribution channel.

Drug Type Insights:

• Levothyroxine
• Liothyronine
• Propylthiouracil
• Imidazole-Based Compound
• Others
   

The report has provided a detailed breakup and analysis of the thyroid gland disorder treatment market based on the drug type. This includes levothyroxine, liothyronine, propylthiouracil, imidazole-based compound, and others. According to the report, levothyroxine represented the largest segment.

Diseases Type Insights:

• Hyperthyroidism
• Hypothyroidism
   

A detailed breakup and analysis of the thyroid gland disorder treatment market based on the diseases type has also been provided in the report. This includes hyperthyroidism and hypothyroidism. According to the report, hypothyroidism accounted for the largest market share.

Route of Administration Insights:

• Oral
• Intravenous Route
   

A detailed breakup and analysis of the thyroid gland disorder treatment market based on the route of administration has also been provided in the report. This includes oral and intravenous route. According to the report, oral accounted for the largest market share.

Distribution Channel Insights:

• Wholesaler/Distributor
• Retailer
• Online
• Others
   

A detailed breakup and analysis of the thyroid gland disorder treatment market based on the distribution channel has also been provided in the report. This includes wholesaler/distributor, retailer, online, and others. According to the report, wholesaler/distributor accounted for the largest market share.

Regional Insights:

• North America
  • United States
  • Canada
• Europe
  • Germany
  • France
  • United Kingdom
  • Italy
  • Spain
  • Others
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Australia
  • Indonesia
  • Others
• Latin America
  • Brazil
  • Mexico
  • Others
• Middle East and Africa
   

The report has also provided a comprehensive analysis of all the major regional markets, which include North America (the United States and Canada); Europe (Germany, France, the United Kingdom, Italy, Spain, and others); Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others); Latin America (Brazil, Mexico, and others); and the Middle East and Africa. According to the report, North America was the largest market for thyroid gland disorder treatment. Some of the factors driving the North America thyroid gland disorder treatment market included the growing advancements in healthcare facilities, rising awareness levels among individuals, wide availability of treatment options, etc.

Competitive Landscape:

The report has also provided a comprehensive analysis of the competitive landscape in the global thyroid gland disorder treatment market. Competitive analysis such as market structure, market share by key players, player positioning, top winning strategies, competitive dashboard, and company evaluation quadrant has been covered in the report. Also, detailed profiles of all major companies have been provided. Some of the companies covered include Abbott Laboratories, Abbvie Inc., Alvogen, GSK plc, IBSA Pharma Inc. (IBSA Group), Lannett Company Inc., Merck KGaA, Pfizer Inc., RLC Labs Inc., Viatris Inc. etc. Kindly note that this only represents a partial list of companies, and the complete list has been provided in the report.

Report Coverage:

Key Questions Answered in This Report:

• How has the global thyroid gland disorder treatment market performed so far, and how will it perform in the coming years?
• What are the drivers, restraints, and opportunities in the global thyroid gland disorder treatment market?
• What is the impact of each driver, restraint, and opportunity on the global thyroid gland disorder treatment market?
• What are the key regional markets?
• Which countries represent the most attractive thyroid gland disorder treatment market?
• What is the breakup of the market based on the drug type?
• Which is the most attractive drug type in the thyroid gland disorder treatment market?
• What is the breakup of the market based on the diseases type?
• Which is the most attractive diseases type in the thyroid gland disorder treatment market?
• What is the breakup of the market based on the route of administration?
• Which is the most attractive route of administration in the thyroid gland disorder treatment market?
• What is the breakup of the market based on the distribution channel?
• Which is the most attractive distribution channel in the thyroid gland disorder treatment market?
• What is the competitive structure of the global thyroid gland disorder treatment market?
• Who are the key players/companies in the global thyroid gland disorder treatment market?

Key Benefits for Stakeholders: 

• IMARC’s report offers a comprehensive quantitative analysis of various market segments, historical and current market trends, market forecasts, and dynamics of the thyroid gland disorder treatment market from 2018-2032.
• The research study provides the latest information on the market drivers, challenges, and opportunities in the global thyroid gland disorder treatment market.
• The study maps the leading, as well as the fastest-growing, regional markets. It further enables stakeholders to identify the key country-level markets within each region.
• Porter's five forces analysis assist stakeholders in assessing the impact of new entrants, competitive rivalry, supplier power, buyer power, and the threat of substitution. It helps stakeholders to analyze the level of competition within the thyroid gland disorder treatment industry and its attractiveness.
• Competitive landscape allows stakeholders to understand their competitive environment and provides an insight into the current positions of key players in the market.