2024 Global Levothyroxine Sodium Market Size, Share, Trends And Growth Analysis Report | Pfizer Inc., Merck & Co. Inc., AbbVie Inc., Sanofi S.A., Abbott Laboratories, Novartis AG, GSK plc , Viatris Inc

"The new report published by The Business Research Company, titled Levothyroxine Sodium Global Market Report 2024 - Market Size, Trends, And Global Forecast 2024-2033, delivers an in-depth analysis of the leading size and forecasts, investment opportunities, winning strategies, market drivers and trends, competitive landscape, and evolving market trends.

As per the report, the levothyroxine sodium market size has grown steadily in recent years. It will grow from $3.73 billion in 2023 to $3.90 billion in 2024 at a compound annual growth rate (CAGR) of 4.4%. The levothyroxine sodium market size is expected to see steady growth in the next few years. It will grow to $4.65 billion in 2028 at a compound annual growth rate (CAGR) of 4.5%.

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Escalation in Thyroid Disorder Severity Drives Growth in Levothyroxine Sodium Market
The escalation in the severity of thyroid disorders is expected to propel the growth of the levothyroxine sodium market going forward. Thyroid disorders refer to conditions that affect the thyroid gland, a butterfly-shaped gland located in the front of the neck. The severity of thyroid disorders is attributed to factors such as delayed diagnosis, inadequate treatment, autoimmune reactions, or complications from other medical conditions. Levothyroxine sodium helps to treat thyroid disorders, such as hypothyroidism, by supplementing the body with synthetic thyroxine (T4) to restore normal hormone levels and alleviate associated symptoms. For instance, in October 2022, according to the American Cancer Society, a US-based Professional organizations company, the 2024 predictions for thyroid cancer in the United States are approximately 44,020 new cases of thyroid cancer (12,500 in men and 31,520 in women) and 2,170 fatalities from thyroid cancer (990 in men and 1,180 in women). Therefore, the escalation in the severity of thyroid disorders is driving the levothyroxine sodium market.

Impact Of Bipolar Disorders On The Levothyroxine Sodium Market

The higher prevalence of bipolar disorders is expected to propel the growth of the levothyroxine sodium market going forward. Bipolar disorders refer to a group of mood disorders characterized by extreme shifts in mood, energy, and activity levels, ranging from manic highs to depressive lows. Bipolar disorders occur by a combination of genetic, biological, and environmental factors, including family history, brain chemistry imbalances, and stressful life events. Levothyroxine sodium (L-T4) is used as an adjunctive treatment for bipolar depression and improves depressive symptoms and mood stabilization by restoring normal thyroid hormone levels and altering brain metabolism. For instance, in May 2023, according to the National Study of Mental Health and Wellbeing (2020-2022), published by the Australian Bureau of Statistics, an Australia-based national statistical agency found that bipolar affective disorder was prevalent in 2.0% of males and 1.8% of females. Therefore, the higher prevalence of bipolar disorders is driving the levothyroxine sodium market.

Innovation In Levothyroxine Sodium Formulations
Major companies operating in the levothyroxine sodium market are developing levothyroxine gel capsules to provide alternative formulations for patients with difficulty swallowing or who require precise dosing. Levothyroxine gel capsules offer a convenient and effective way to deliver levothyroxine, ensuring consistent absorption and bioavailability. For instance, in April 2023, IBSA Pharma, a Switzerland-based pharmaceutical company, launched Tirosint, a levothyroxine gel capsule and oral liquid solution. Tirosint (levothyroxine sodium) replaces a hormone that the thyroid gland typically produces to manage the body's energy and metabolism and treats hypothyroidism (low thyroid hormone). Tirosint revolutionizes hypothyroidism treatment with FDA-approved dosage strengths of 37.5, 44, and 62.5 micrograms, providing unparalleled customization for patient needs and reducing the necessity for frequent dose changes, empowering clinicians to optimize therapy effectively.

The levothyroxine sodium market covered in this report is segmented -

1) By Product: Oral, Injection
2) By Type: Hypothyroidism, Goiter, Thyroid Cancer, Myxedema Coma
3) By Application: Hospitals, Clinic, Other Applications
4) By Distribution Channel: Hypermarkets, Supermarkets, Drug Stores, Online Stores, Specialty Stores

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Major companies operating in the levothyroxine sodium market are Pfizer Inc., Merck & Co. Inc., AbbVie Inc., Sanofi S.A., Abbott Laboratories, Novartis AG, GSK plc , Viatris Inc., Teva Pharmaceutical Industries Ltd., Sandoz International GmbH, Fresenius Kabi, Macleods Pharmaceuticals Ltd., Sun Pharmaceutical Industries Ltd., Dr. Reddy's Laboratories Ltd., Apotex Inc., Hikma Pharmaceuticals PLC, Lupin, Amneal Pharmaceuticals Inc., Glenmark Pharmaceuticals Ltd., Alvogen, IBSA Institut Biochimique SA, Lannett, Taj Pharmaceuticals Ltd., Zydus Cadila, Farmak

Contents of the report:
1. Executive Summary
2. Levothyroxine Sodium Market Report Structure
3. Levothyroxine Sodium Market Trends And Strategies
4. Levothyroxine Sodium Market - Macro Economic Scenario
5. Levothyroxine Sodium Market Size And Growth
…..
27. Levothyroxine Sodium Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix

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