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Thyroid Gland Disorder Treatment Market to Witness Increased Incremental Dollar Opportunity During the Forecast Period by Key Players: AbbVie Inc., Pfizer Inc., Merck & Co., Inc., Lannett Company and More

03-29-2019 11:19 AM CET | Health & Medicine

Press release from: Allied Market Research

Thyroid Gland Disorder Treatment Market

Thyroid Gland Disorder Treatment Market

The initiative undertaken by organizations and companies to spread awareness in regards with thyroid conditions and availability of large number of undiagnosed patients are the major driving factors that are projected to boost the market growth.

According to a new report published by Allied Market Research, titled, Thyroid Gland Disorder Treatment Market by Drug Type, Route of Administration, Distribution/Sales Channel, and Disease Type: Global Opportunity Analysis and Industry Forecast, 20172025," the global thyroid gland disorder market was valued at $2,057 million in 2017, and is estimated to reach $2,771 million at a CAGR of 3.8% from 2018 to 2025. North America was the highest contributor to the thyroid gland disorder treatment market in 2017; however, Asia-Pacific is expected to witness the highest growth during the forecast period.

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The key players operating in the global thyroid gland disorder treatment market include AbbVie Inc., Pfizer Inc., Merck & Co., Inc., Lannett Company, Inc., Allergan plc, Mylan N.V., GlaxoSmithKline plc, Novartis AG, RLC LABS, Inc., and Abbott Laboratories. Other prominent players in the value chain include Takeda Pharmaceutical Company Limited, Aspen, Amgen Inc., Endo International plc, Acella Pharmaceuticals, LLC, and Gemini Laboratories, LLC.

The thyroid gland produces hormones, which regulates the body metabolism. The abnormal release of thyroid hormones causes thyroid disorder. Thyroid hormone is necessary to regulate the heart rate, blood pressure, and body temperature. However, due to factors such as iodine deficiency, autoimmunity, and congenital hypothyroidism, one-third of the population is at the risk of having thyroid disease.

The major factors that drive the growth of the thyroid gland disorder market include increase in incidence of thyroid gland disorders, development of effective combination thyroid disorders drug therapies, and increase in number of disease awareness programs in developing regions. However, side effects of the medication and stringent government regulations limit the market growth. Conversely, availability of large pool of undiagnosed patients due to asymptomatic nature of thyroid disorders in the emerging economies are anticipated to provide numerous opportunities for the market growth during the forecast period.

Among the disease type, the hypothyroidism segment occupied the largest share, and is anticipated to continue its dominance during the forecast period, owing to the high prevalence of iodine deficiency population worldwide, and is the most commonly occurring thyroid disorder.

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Among the distribution channel, the wholesaler or distributor segment occupied the largest share. However, mail-order pharmacy is the fastest growing segment as these services help customers save money and convenience. Among the route of administration, the oral segment occupied the largest share as most of the medications available in the market are in the form of tablets or pills that can easily be administered by the patients.

Based on region, North America occupied the largest share in 2017 owing to the highest prevalence rate for thyroid disorders, large number of diagnosed patients as compared to other regions, and well-established healthcare infrastructure. However, Asia-Pacific is expected to grow at the highest CAGR of 4.4% during the study period, due to increase in number of thyroid disease awareness programs in the developing regions and availability of large number of undiagnosed thyroid gland disorder patients.

About us

Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions.” AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.

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