Thyroid Disorder Therapy Market Top Players Sanofi, AbbVie Inc., Aspen, GlaxoSmithKline

Thyroid disorders may lead to either elevated or decreased levels of metabolic hormones in the body, resulting in medical conditions, such as hypothyroidism or hyperthyroidism. Thyroid can be caused due to the deficiency of iodine in the body, or as a secondary effect of an autoimmune disease. Iodine deficiency is a major cause thyroid disorder. Technological advancements in thyroid disorder therapies is currently driving the growth of the global thyroid disorder therapy market. In general, radioactive iodine (I-131) is utilized for treating over-active thyroid disorders, for example, hyperthyroidism. It is an effective method of treatment, and is now being used more widely as a first-line treatment option, as it helps reduce the amount of thyroxin, as well as the size of the thyroid gland significantly.

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Global Thyroid Disorder Therapy Market – Drivers & Restraints

Thyroid cancer is one of the major problems, which is majorly augmenting the demand for these therapies. In order to cater to this growing demand, many drugs are currently being formulated, while a few have recently received regulatory approvals. In May 2018, the Food and Drug Administration (FDA) approved a combination of two targeted drugs, dabrafenib plus trametinib, to treat patients with anaplastic thyroid cancer. The combination of Tafinlar (dabrafenib) and Mekinist (trametinib) is the first FDA approved treatment for these type of thyroid cancers. Moreover, in 2015, the FDA approved Lenvatinib for the treatment of locally recurrent or metastatic, progressive, radioactive iodine-refractory differentiated thyroid cancer. In the same year, Japan received the authorization for manufacturing and marketing Lenvima, an anticancer drug used for the treatment of thyroid cancer.

Therefore, the global thyroid disorder therapy market is poised to witness substantial growth over the forecast period, owing to the rising prevalence of thyroid cancer across the globe. According to the 2016 report published by the National Cancer Institute, U.S., there were an estimated 822,242 found with thyroid cancer in the U.S. Furthermore, the American Cancer Society estimated around 52,070 new thyroid cancer cases in the U.S. in 2019.

In contrast, high costs of thyroid disorder therapies may confine the growth of the global thyroid disorder therapy market in the foreseeable future. As reported by the National Center for Biotechnology Information, the aggregate national cost of well-differentiated thyroid cancer (WDTC) care in 2013 was valued at US$ 1.6 billion.

Global Thyroid Disorder Therapy Market - Regional Analysis

North America is expected to spearhead the global thyroid disorder therapy market throughout the forecast timeframe, owing to the increasing cases of thyroid. According to the American Thyroid Association (ATA), over 12% of the U.S. population is expected to develop a thyroid condition during their lifetime.

Asia Pacific is recognized as the fastest-growing market in the global thyroid disorder therapy market, thanks to the increasing prevalence of thyroid disorder in the region. As per the Indian Thyroid Society, in 2018, 42 million people in India were diagnosed with thyroid disorders, such as hypothyroidism.

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Global Thyroid Disorder Therapy Market Taxonomy

By Disease Type:

Thyroid Cancer

Hypothyroidism

Hyperthyroidism

Goiter

By Drug Class:

Levothyroxine

Liothyronine

Kinase Inhibitors

Anthracyclines

Beta-Blockers

By Route of Administration:

Oral

Intravenous

By Distribution Channel:

Hospital Pharmacy

Retail pharmacy

Online Pharmacy

By Region:

North America

Latin America

Europe

Asia Pacific

Middle East

Africa

Major Players Are Operating In This Market Are: Pfizer Inc., Merck & Co., Mylan N.V., Novartis A.G., Lanett company, Inc., Sanofi, AbbVie Inc., Aspen, GlaxoSmithKline, and Abbott laboratories.

Highlights of the Thyroid Disorder Therapy report:

1. A complete backdrop analysis, which includes an assessment of the Thyroid Disorder Therapy Market
2. An objective assessment of the trajectory of the market
3. Market segmentation up to the second or third level
4. Reporting and evaluation of recent industry developments
5. Important changes in market dynamics
6. Emerging niche segments and regional markets
7. Historical, current, and projected size of the market from the standpoint of both value and volume
8. Market shares and strategies of key players
9. Recommendations to companies for strengthening their foothold in the market

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