Press release
Anti-Thyroid Drugs Market Report 2024: Strategies And Recent Developments | Mylan N.V., Abbott Laboratories, GlaxoSmithKline plc, Merck & Co., AbbVie Inc., Pfizer Inc
Anti-Thyroid Drugs Market Characteristics
The Business Research Company offers in-depth market insights through Anti-Thyroid Drugs Global Market Report 2024, providing businesses with a competitive advantage by thoroughly analyzing the market structure, including estimates for numerous segments and sub-segments.
Market Size And Growth Forecast:
The anti-thyroid drugs market size has grown steadily in recent years. It will grow from $2.4 billion in 2023 to $2.46 billion in 2024 at a compound annual growth rate (CAGR) of 2.5%. The growth in the historic period can be attributed to prevalence of thyroid disorders, advancements in drug development, healthcare infrastructure.
The anti-thyroid drugs market size is expected to see steady growth in the next few years. It will grow to $2.75 billion in 2028 at a compound annual growth rate (CAGR) of 2.8%. The growth in the forecast period can be attributed to patient awareness and education, healthcare expenditure, patient demographics, global economic conditions. Major trends in the forecast period include thyroid surgery and radioactive iodine alternatives, patient-centric care, telemedicine and remote monitoring.
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Market Segmentation:
The main types of anti-thyroid drugs are thionamides (inhibition of hormone synthesis) and iodides (inhibition of hormone release). Ethionamide drugs pharmacologically normalize thyroid hormone levels. The drugs are administered orally, and intravenously, and others are distributed by wholesalers/distributors, retail chains, online distribution, and others.
Major Driver - Graves Disease And Its Influence On The Anti-Thyroid Drug Market
Graves' disease is one of the direct causes of hyperthyroidism and the incidence of Graves' disease increasing. According to National Library of Medicine, a US-based biomedical library operated by the United States federal government, in developed countries, Graves' disease (GD) is the most common cause of hyperthyroidism. It is more common between the ages of 30 and 60, and women are 5-10 times more likely than men. Genetic predisposition accounts for 79% of the risk for GD, while environmental factors account for 21%. Owing to the rising number of Grave's disease, people suffering from hyperthyroidism are also increasing. This results in the overall growth in the demand for anti-thyroid drugs thereby driving the market.
Competitive Landscape:
Major companies operating in the anti-thyroid drugs market include Mylan N.V., Abbott Laboratories, GlaxoSmithKline plc, Merck & Co., AbbVie Inc., Pfizer Inc., Allergan plc, RLC LABS Inc., Amgen Inc., Lannett Company Inc., Sanofi S.A., Novartis AG, Teva Pharmaceutical Industries Ltd., Eli Lilly and Company, Aspen Pharmacare Holdings Limited, Astellas Pharma Inc., Takeda Pharmaceutical Company Limited, Boehringer Ingelheim GmbH, Daiichi Sankyo Company Limited, Roche Holding AG, Bayer AG, Aurobindo Pharma Limited, Dr. Reddy's Laboratories Ltd., Sun Pharmaceutical Industries Ltd., Cipla Inc., Lupin Limited, Cadila Healthcare Limited, Torrent Pharmaceuticals Ltd., Alkem Laboratories Ltd., Akorn Inc.
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Top Trend - Raising Awareness And Promoting Thyroid Health In The Anti-Thyroid Drug Market
Associations for thyroid care are launching initiatives to spread more awareness about thyroid disorders, updates on the recent treatment methods, and other summaries regarding various research on thyroid disorders. In the USA, nearly 60% of the population suffering from hyperthyroidism are unaware and remain undiagnosed. To curb these issues, associations including the American Thyroid Association (ATA) are making an impact by educating people about thyroid disorders. Similarly, the Thyroid Foundation of Canada has also initiated awareness to awaken public interest and awareness about thyroid diseases including hyperthyroidism. Other associations that are launching initiatives and awareness programs include the American Academy of Otolaryngology and the British Thyroid Foundation among others.
The Table Of Content For The Market Report Include:
1. Executive Summary
2. Anti-Thyroid Drugs Market Characteristics
3. Anti-Thyroid Drugs Market Trends And Strategies
4. Anti-Thyroid Drugs Market - Macro Economic Scenario
5. Anti-Thyroid Drugs Market Size And Growth
…..
27. Anti-Thyroid Drugs Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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