05 September 2019
Visiongain has launched a new pharma report Thyroid Gland Disorder Treatment Market Report 2019-2029: By Indication (Hypothyroidism, Hyperthyroidism), by Route of Administration (Oral, Intravenous, Others), by Treatment (Diagnostics, Surgery, Drugs and Supplements (Liothyronine, Levothyroxine, Cytomel, Imidazole, Propacil, Iodine, Tiratricol, Others)), by Distribution Channel (Wholesalers, Retail, Online, Others) and by Region.
Global thyroid gland disorder treatment market is anticipated to grow on account of the increasing burden of people with iodine deficiency, high alcohol and tobacco consumption in developing regions among other prominent factors. The global market is anticipated to grow at a lucrative CAGR of 3.6% and anticipated to reach USD 3.21 Billion by 2029.
Thyroid disease is one of today's most prevalent hormonal illnesses. Hyperthyroidism, hypothyroidism, and thyroid nodules are the most common thyroid gland disorders. Hyperthyroidism implies that there is too much thyroid hormone that accelerates metabolism whereas hypothyroidism implies that thyroid hormone is too small. This absence of thyroid hormone slows down the functionality of most of the body's organs. An expanded region or lump of tissue is a thyroid nodule which is amazingly prevalent and benign (not cancerous).
Increasing cooperative arrangements between private and public organizations to spread knowledge among healthcare practitioners and patients about thyroid management is anticipated to boost the development of the industry. Various governmental organizations such as the American Thyroid Association (ATA), the American Academy of Otolaryngology, the British Thyroid Foundation, and the Canadian Thyroid Foundation are engaged in multiple promotional operations to raise awareness of the disease and its therapy choices.
For growth, neuronal development, reproduction and energy metabolism regulation, thyroid hormones are crucial. Hypothyroidism and hyperthyroidism are prevalent conditions with possibly catastrophic effects on all communities around the world. Iodine nutrition is a main determinant of the of thyroid disease; however, other variables, such as ageing, smoking, genetic susceptibility, endocrine disruptors and the development of novel therapeutics, including immune control point inhibitors, also affect thyroid disease epidemiology. Due to extensive thyroid function testing and comparatively small thresholds for therapy initiation, the incidence of undiagnosed thyroid disease is likely to decline in developed countries. However, in developing regions ongoing vigilance against iodine deficiency remains crucial.
Strategic partnerships between pharmaceutical companies and public organizations in North America are on the rise, especially to create generic drugs and spread consciousness among healthcare practitioners. This makes the market in North America extremely profitable. For example, Genzyme will provide personalized alternatives for the therapy of thyroid-related illnesses in collaboration with Veracyte Inc.
Asia Pacific region is expected to experience the highest growth in terms of CAGR over the forecast period owing to growing presence of patients in South East Asian markets. Additionally, unmet needs of patients and untapped nations in this region have been attracting investments by global players and this is expected to boost thyroid gland disorder treatment market growth over the forecast period.
Currently, key players are forming various strategies such as acquisitions, mergers, partnerships, collaborations and launching new products in order to strengthen their position in the global single-cell genomics market. Companies are also expanding their R&D, distribution, and management facilities in order to expand their business and to hold a competitive edge in the market.
The comprehensive market report features companies such as Abbott, AbbVie, Inc., Allergan Plc., Amgen Inc., Eli Lilly, GlaxoSmithKline plc, Medtronic, Merck KGaA, Mylan N.V., Novartis AG, Pfizer, Inc., Sanofi S.A. and Takeda Pharmaceutical Company Limited among other prominent players.
Also the research study offers market estimation and forecast for the period ranging 2019–2029 for global markets such as North America, Latin America, Western Europe, Eastern Europe, Asia Pacific and MEA along with regional sub-markets as U.S., Canada, Brazil, Mexico, Germany, UK, France, Italy, Spain, Nordic, Benelux, Russia, Poland, India, Japan, China, Australia, ASEAN, GCC, South Africa and North Africa.
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