Thyroid Gland Disorder Treatment Market, Sector / Industry Report & Analysis, 2018-2025 (Includes Business Impact of COVID-19)

                                          
Abstract, Snapshot, Market Analysis & Market Definition: Global Thyroid Gland Disorder Treatment Market


The global thyroid gland disorder treatment market size was valued at USD 1.97 billion in 2016 and is expected to register a CAGR of 3.2% during the forecast period. Rising incidence of hypothyroidism and growing awareness levels among individuals are key contributors to market growth. Various companies are collaborating with government organizations to spread awareness regarding disease management and this is anticipated to fuel the adoption of drugs for treatment of thyroid gland disorders over the forecast period.
 
Thyroid disorders may result from functional or structural abnormalities. As of now, it affects 200 million people around the world and in most countries, half of the population remains undiagnosed. This condition is more common among women and the elderly. Statistics by the Thyroid Foundation of Canada in 2015, state that one in every 1700 children in Canada is affected by congenital hypothyroidism. This shows the potential demand for anti-thyroid drugs in the coming years.
Increase in collaborative agreements between private and public organizations to spread awareness pertaining to thyroid management among healthcare professionals and patients is expected to fuel market growth. Various government organizations such as The American Thyroid Association (ATA), American Academy of Otolaryngology, British Thyroid Foundation, and Thyroid Foundation of Canada are involved in various promotional activities to create awareness regarding the disease and its treatment options.
Pharmaceutical manufacturers are also undertaking initiatives to support awareness campaigns or implement promotional strategies to create awareness. For instance, in May 2017, Merck announced its support for the 9th International Thyroid Awareness Week (ITAW). Efforts such as these are anticipated to propel demand over the course of the forecast period.

Market Segmentation, Outlook & Viewpoint: Global Thyroid Gland Disorder Treatment Market


Indication Market Segmentation & Outlook (Revenue, USD Million, 2014 - 2025)

Hypothyroidism

Hyperthyroidism


RoA Market Segmentation & Outlook (Revenue, USD Million, 2014 - 2025)

Oral

Intravenous

Others


Distribution Channel Market Segmentation & Outlook (Revenue, USD Million, 2014 - 2025)

Wholesaler/Distributors

Retail Chain

Online Distribution

Others


Key Players, Recent Developments & Regional Insights: Global Thyroid Gland Disorder Treatment Market


Wholesalers and distributors form a rather mature segment. However, high penetration of these distribution channels for prescription medicines has allowed it to gain the largest revenue share as of 2016. Wholesalers provide discounts on bulk purchases, offer quick delivery, and always have sufficient product stock, owing to which consumers opt for these distribution channels.
 
Increasing popularity of eCommerce channels for prescription medicines is a key factor for contributing to the lucrativeness of the online distribution segment over the forecast period. Online pharmacies provide a wide range of options to treat this disease and often offer in-depth information pertaining to the condition. Equipped with this knowledge, consumers are more likely to purchase medicines online.

Regional Insights
North America accounted for the largest revenue share as of 2016 and is anticipated to expand at an exponential CAGR throughout the forecast period. Presence of streamlined healthcare facilities, greater awareness levels amongst individuals, and ample availability of treatment options to choose from are some of the factors responsible for its large revenue share.
Strategic partnerships between pharmaceutical companies and government organizations are on a rise in the region, particularly to develop generic drugs and spread awareness amongst healthcare professionals. This makes the North America market highly lucrative. For instance, Genzyme, in partnership with Veracyte Inc., will be delivering personalized solutions for the treatment of disorders related to the thyroid gland.
The Asia Pacific market is expected to exhibit a lucrative CAGR as manufacturers in this region are focusing on development of low-cost products with higher efficiency. In addition, global players are investing in local companies in the region, attracted by lower cost of raw material and labor.
Thyroid Gland Disorder Treatment Market Share Insights
The market is fragmented in nature with numerous small and large manufacturers operating in this industry. It is dominated by major participants such as Abbott; Pfizer; Lannett Company, Inc.; GlaxoSmithKline; Merck KGaA; Mylan N.V.; AbbVie Inc.; and Amgen. Companies are adopting strategies such as partnership agreements, regional expansions, promotional activities, and new product development to gain an edge over their competition. In addition, strategic actions undertaken by the U.S. FDA and other government authorities to prevent hurdles in entry of generic drug makers in the market is expected to boost industry rivalry in the coming years.

Key Insights Covered: Global Thyroid Gland Disorder Treatment Market
1.  North America, Europe, Asia Pacific, Middle East & Africa, Latin America market size (sales, revenue and growth rate) of Thyroid Gland Disorder Treatment industry.
2. Global major manufacturers' operating situation (sales, revenue, growth rate and gross margin) of Thyroid Gland Disorder Treatment industry.
3. Global major countries (United States, Canada, Germany, France, UK, Italy, Russia, Spain, China, Japan, Korea, India, Australia, New Zealand, Southeast Asia, Middle East, Africa, Mexico, Brazil, C. America, Chile, Peru, Colombia) market size (sales, revenue and growth rate) of Thyroid Gland Disorder Treatment industry.
4. SWOT analysis, New Project Investment Feasibility Analysis, Upstream raw materials and manufacturing equipment & Industry chain analysis of Thyroid Gland Disorder Treatment industry.
5. Global market size (sales, revenue) forecast by regions and countries from 2019 to 2024 of Thyroid Gland Disorder Treatment industry.

Research Methodology: Global Thyroid Gland Disorder Treatment Market

Data collection and base year analysis is done using data collection modules with large sample sizes. The market data is analyzed and forecasted using market statistical and coherent models. Also market share analysis and key trend analysis are the major success factors in the market report. To know more please Request a Sample Report.
Demand Side Primary Contributors: OEMs, Industrial Professionals, Researches, Suppliers and Distributors, Group Purchasing Organizations, Associations, Insurers, Universities, Technological Writers, Scientists, Promoters, Investors among others.
Supply Side Primary Contributors: Product Managers, Marketing Managers, C-Level Executives, Distributors, Market Intelligence, Regulatory Affairs Managers among other