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Anti-Thyroid Drugs Global Market Analysis, Trends, Growth, Research And Forecast 2033
Anti-Thyroid Drugs Global Market
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.
Market Overview -
Anti-thyroid drugs refer to agents that function by preventing the manufacture of thyroid hormones or by reducing the action of thyroid hormones. Additionally, they are suggested for use in radioactive iodine uptake tests to assess thyroid function and safeguard the thyroid gland in case of radiation exposure.
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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.
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.
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Key Segments -
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 Adminitration
3) By Distribution Channel: Wholesaler/Distributors, Retail Chain, Online Distribution, Other Distribution Channels
Key highlights covered in the report -
1. Detailed market size forecast and historical data analysis
2. Key drivers influencing market growth
3. Identification of upcoming trends and potential opportunities in the market
4. Analysis of major players strategies, to understand competitive dynamics and market positioning
5. Evaluation of regional dynamics
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