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Anti-Thyroid Drugs Market Report 2024 : Market Size, Growth Analysis, Segments And Major Growth By 2033
Anti-Thyroid Drugs Market
The Business Research Company has updated its global market reports with latest data for 2024 and projections up to 2033
In recent years, the anti-thyroid drugs market has exhibited steady growth, escalating from $2.4 billion in 2023 to a projected $2.46 billion in 2024, with a Compound Annual Growth Rate (CAGR) of 2.5%. This upward trajectory is expected to persist, reaching $2.75 billion by 2028, showcasing a CAGR of 2.8%.
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Graves Disease's Impact: A Driving Force in Hyperthyroidism
Graves' disease, a primary contributor to hyperthyroidism, has witnessed an escalating incidence, particularly in developed nations. According to the National Library of Medicine, Graves' disease is the predominant cause of hyperthyroidism, more prevalent in individuals aged 30 to 60, with women being 5-10 times more susceptible than men. Genetic predisposition and environmental factors play significant roles, accounting for 79% and 21% of the risk for Graves' disease, respectively. As the prevalence of Graves' disease rises, so does the demand for anti-thyroid drugs, propelling market growth.
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Combatting Thyroid Cancer: Driving Diagnostic Market Demand
The mounting cases of thyroid cancer contribute significantly to the expansion of the anti-thyroid drugs market. Thyroid cancer, affecting the gland near the base of the throat responsible for hormone production, underscores the importance of early detection facilitated by anti-thyroid drugs. The American Society of Clinical Oncology reported an estimated 43,720 adults diagnosed with thyroid cancer in the United States in 2023, reinforcing the pivotal role these drugs play in the diagnostic market.
Industry Leaders Shaping the Landscape
Key players, including Mylan N.V., Abbott Laboratories, and GlaxoSmithKline PLC, are at the forefront of shaping the anti-thyroid drugs market. With a focus on addressing rising demands and enhancing treatment options, these major companies play a pivotal role in driving advancements within the market.
Thyroid Health Awareness Initiatives: Global Outreach
Associations dedicated to thyroid care are spearheading initiatives to raise awareness about thyroid disorders, disseminate updates on treatment methods, and provide summaries of ongoing research. In the United States, where nearly 60% of hyperthyroidism cases remain undiagnosed, associations such as the American Thyroid Association (ATA) are actively educating the public. Similar efforts are undertaken by the Thyroid Foundation of Canada, the American Academy of Otolaryngology, and the British Thyroid Foundation, among others.
Innovative Solutions Taking Center Stage
Innovation remains a focal point for major companies in the anti-thyroid drugs market. Levothyroxine Sodium Injection, introduced by Hikma Pharmaceuticals PLC, represents a notable innovation. This injectable form of anti-thyroid drug targets the treatment of myxedema coma, providing a more convenient and efficient administration method in hospitals.
Regional Dynamics and Future Prospects
North America currently commands the anti-thyroid drugs market, while the Middle East is poised to emerge as the fastest-growing region in the forecast period.
The anti-thyroid drugs market covered in this report is segmented -
1) By Drug Type: Thionamides (Inhibition of hormone synthesis), Iodides (Inhibition of hormone release)
2) By Route of Administration: Oral, Intravenous, Other Route of Administration
3) By Distribution Channel: Wholesaler/Distributors, Retail Chain, Online Distribution, Other Distribution Channels
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Anti-Thyroid Drugs Global Market Report 2024 from TBRC covers the following information:
1. Market size date for the forecast period: Historical and Future
2. Market analysis by region: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
3. Market analysis by countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
Trends, opportunities, strategies and so much more.
The Anti-Thyroid Drugs Global Market Report 2024 by The Business Research Company is the most comprehensive report that provides insights on anti-thyroid drugs market size, anti-thyroid drugs market drivers and trends, anti-thyroid drugs market major players, anti-thyroid drugs market competitors' revenues, anti-thyroid drugs market positioning, and anti-thyroid drugs market growth across geographies. The anti-thyroid drugs market report helps you gain in-depth insights on opportunities and strategies. Companies can leverage the data in the report and tap into segments with the highest growth potential.
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