Hypothyroidism Market Overview
The Global Hypothyroidism Market is projected to reach USD 1817.13 Million by 2030 at 4.8% CAGR during the forecast period 2022-2030. 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 2022 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.
Hypothyroidism Market Segmentation
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 Hypothyroidism market Outlook, 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 Insights, 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.
Hypothyroidism Market Regional Analysis
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 in 2016/2022, 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 in 2016, 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.
global hypothyroidism market Players are Pfizer Inc., AbbVie Inc., Merck & Co., Inc., ALLERGAN, Mylan N.V., Erfa Canada Inc, Novartis AG, GlaxoSmithKline plc, RLC Labs and others
At Market Research Future (MRFR), we enable our customers to unravel the complexity of various industries through our Cooked Research Report (CRR), Half-Cooked Research Reports (HCRR), & Consulting Services. MRFR team have supreme objective to provide the optimum quality market research and intelligence services to our clients.
Market Research Future (part of Wantstats Research and Media Private Limited),
99 Hudson Street, 5Th Floor,
New York, New York 10013
United States of America
+1 628 258 0071