NEW
YORK, Oct. 31, 2024 /PRNewswire/ -- Report with
market evolution powered by AI - The global hypothyroidism
market size is estimated to grow by USD 789.8 million from 2024-2028, according to
Technavio. The market is estimated to grow at a CAGR of
6.8% during the forecast period. Increasing approval of
new hypothyroidism drugs is driving market growth, with a
trend towards inorganic growth strategies among market
vendors. However, product recall in global hypothyroidism
market poses a challenge.Key market players include AbbVie
Inc., AdvaCare Pharma, Alvogen Inc, Aurore Life Sciences Pvt Ltd,
Biophore India Pharmaceuticals Pvt. Ltd., IBSA Institut Biochimique
SA, JEROME STEVENS PHARMACEUTICALS INC., LLOYD Inc., Lupin Ltd.,
Merck KGaA, Novartis AG, Pfizer Inc., RLC Labs Inc., Sigmapharm
Laboratories LLC, Sun Pharmaceutical Industries Ltd., Teva
Pharmaceutical Industries Ltd., Viatris Inc., Wockhardt Ltd., and
Zydus Lifesciences Ltd..
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Forecast
period
|
2024-2028
|
Base Year
|
2023
|
Historic
Data
|
2018 - 2022
|
Segment
Covered
|
Disease Type (Primary
hypothyroidism, Secondary hypothyroidism, and Others), Distribution
Channel (Hospital pharmacy, Retail pharmacy, and Online pharmacy),
and Geography (North America, Europe, Asia, and Rest of World
(ROW))
|
Region
Covered
|
North America, Europe,
Asia, and Rest of World (ROW)
|
Key companies
profiled
|
AbbVie Inc., AdvaCare
Pharma, Alvogen Inc, Aurore Life Sciences Pvt Ltd, Biophore India
Pharmaceuticals Pvt. Ltd., IBSA Institut Biochimique SA, JEROME
STEVENS PHARMACEUTICALS INC., LLOYD Inc., Lupin Ltd., Merck KGaA,
Novartis AG, Pfizer Inc., RLC Labs Inc., Sigmapharm Laboratories
LLC, Sun Pharmaceutical Industries Ltd., Teva Pharmaceutical
Industries Ltd., Viatris Inc., Wockhardt Ltd., and Zydus
Lifesciences Ltd.
|
Key Market Trends Fueling
Growth
The global hypothyroidism market is experiencing notable growth
through strategic partnerships and collaborations. In May 2023, Merck, the Indonesian Medical
Association (PB IDI), and the Central Board of the Indonesian
Thyroid Association signed a Memorandum of Understanding (MoU) to
launch the Thyroid RAISE program. This initiative aims to enhance
healthcare professionals' capabilities and increase public
awareness about thyroid disorders. The Thyroid RAISE program
focuses on both hypothyroidism and hyperthyroidism, ensuring
comprehensive care and early intervention. Merck's collaboration
with Indonesian medical associations underscores the importance of
cross-sector partnerships in addressing public health challenges.
These collaborations expand the reach and impact of thyroid
disorder treatments by sharing knowledge and resources, ultimately
improving patient outcomes. The Thyroid RAISE program is expected
to equip healthcare providers with the necessary skills to diagnose
and treat thyroid disorders effectively. Furthermore, increased
public awareness from these collaborations encourages early
screening and intervention, reducing the burden on healthcare
systems. In conclusion, strategic partnerships and collaborations
are pivotal to the hypothyroidism market's growth, driving
advancements in diagnosis, treatment, and overall management of
thyroid disorders.
Hypothyroidism, a medical condition characterized by an
underactive thyroid gland, affects millions worldwide due to iodine
deficiency and autoimmune disorders. The disease causes metabolic
issues, cold sensitivity, memory impairment, and menstrual
irregularities. The global hypothyroidism market is growing, driven
by increasing patient pool and diagnosis through tests like
thyroid-stimulating hormone and thyroid scintigraphy. In-market
drugs like Thyroxine and Triiodothyronine are commonly used for
oral administration. Late-stage pipeline drugs, such as Drug X and
Drug Y, show promise for intravenous administration. Disease
awareness campaigns and drug combinations are trends in the
treatment market for undiagnosed patients. Robotic energy-based
therapies and liothyronine are also under exploration. Primary,
secondary, and tertiary hypothyroidism require diagnosis and
treatment.
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Market Challenges
• The global
hypothyroidism market is currently facing challenges due to product
recalls, which can negatively impact patient trust and treatment
regimens. In December 2023, the ANSM
National Drug Agency of France
came under investigation for allegedly providing
misleading information about Merck's Levothyrox thyroid drug. This
situation raised concerns about regulatory oversight and the
accuracy of information given to patients and healthcare providers.
Furthermore, product recalls due to quality issues pose a
substantial challenge. For instance, in December 2023, Sun Pharmaceutical Industries
recalled 96,192 bottles of liothyronine sodium tablets in the US
due to failed impurities/degradation specifications. This recall
not only affected medication availability but also highlighted the
importance of stringent quality control measures in pharmaceutical
manufacturing. Another significant recall involved IBSA Pharma
Inc., which withdrew over two dozen lots of Tirosint-SOL
(levothyroxine sodium) oral solution in March 2023 due to potential subpotency. The US
FDA classified this recall as Class I, indicating serious health
consequences or death from using the affected medication. These
incidents of quality assurance processes and transparent
communication from pharmaceutical companies. Product recalls not
only disrupt the supply chain but also erode patient confidence in
their treatments. As the global hypothyroidism market grows,
addressing these challenges through improved regulatory compliance
and quality control is essential to maintaining patient trust and
ensuring the availability of safe and effective treatments during
the forecast period.
• The
Hypothyroidism market encompasses solutions for addressing Thyroid
Gland Disorders, specifically Hypothyroidism. This condition,
characterized by an underactive thyroid gland, affects millions
worldwide. Undiagnosed patients pose a significant challenge, as
many remain asymptomatic. For diagnosed patients, treatment options
include drug combinations of Liothyronine and Levothyroxine via
Oral Administration or Intravenous Administration. Diagnosis relies
on Thyroid Function Tests, Thyroid ultrasound, and Thyroid antibody
exam. Iodine Deficiency is a common cause. Symptoms include
Fatigue, Weakness, Weight gain, Sensitivity to cold, Dry skin, Hair
loss, Constipation, Depression, Mood swings, Muscle aches,
Stiffness, Impaired memory, and Concentration issues. Primary,
Secondary, and Tertiary Hypothyroidism require clinical evaluation
through Medical history and Laboratory procedures. Robotic
Energy-Based Therapies offer potential advancements in diagnosis
and treatment. The Hypothyroidism market continues to grow, driven
by the need for effective solutions for Hormones like Thyroxine
(T4) and Triiodothyronine (T3), and Thyroid-stimulating
hormone.
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Segment Overview
This hypothyroidism market report extensively covers market
segmentation by
- Disease Type
- 1.1 Primary hypothyroidism
- 1.2 Secondary hypothyroidism
- 1.3 Others
- Distribution Channel
- 2.1 Hospital pharmacy
- 2.2 Retail pharmacy
- 2.3 Online pharmacy
- Geography
- 3.1 North America
- 3.2 Europe
- 3.3 Asia
- 3.4 Rest of World (ROW)
1.1 Primary hypothyroidism- Primary
hypothyroidism is a condition characterized by insufficient thyroid
hormone production. Autoimmune thyroiditis, specifically
Hashimoto's disease, is the leading cause in iodine-sufficient
regions like the US. In contrast, iodine deficiency remains the
primary cause in areas with insufficient iodine intake.
Understanding these causes and regional variations is essential for
market segmentation and targeting. Vendors can develop targeted
strategies, such as increasing access to iodine supplements and
fortified foods in iodine-deficient regions, and providing
specialized medical interventions in areas with high autoimmune
thyroiditis prevalence. By addressing the primary causes, vendors
can drive growth in the primary hypothyroidism market.
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gain insights into AI's impact on market dynamics, emerging trends,
and future opportunities- including forecast (2024-2028) and
historic data (2018 - 2022)
Research Analysis
Hypothyroidism, also known as an underactive thyroid, is a
medical condition characterized by the thyroid gland's inability to
produce sufficient thyroid hormones. Thyroid gland disorders,
including hypothyroidism, affect millions worldwide. Disease
awareness campaigns aim to increase understanding and early
diagnosis. Treatment options range from oral administration of
hormones like Thyroxine (T4) and Triiodothyronine (T3), to robotic
energy-based therapies. Hypothyroidism presents with symptoms such
as fatigue, weakness, weight gain, sensitivity to cold, dry skin,
hair loss, and constipation. Primary, secondary, and tertiary
hypothyroidism refer to different causes, with primary being the
most common. Diagnosis and treatment involve testing thyroid
function and hormone levels. The thyroid gland, located in the
neck, plays a crucial role in metabolism by producing thyroid
hormones that regulate body functions.
Market Research Overview
Hypothyroidism, or an underactive thyroid gland, is a thyroid
disorder that affects the production of essential hormones. Thyroid
gland disorders, including primary, secondary, and tertiary
hypothyroidism, can lead to various symptoms such as fatigue,
weakness, weight gain, sensitivity to cold, dry skin, hair loss,
constipation, depression, mood swings, muscle aches, stiffness,
impaired memory, concentration issues, and menstrual
irregularities. Hypothyroidism can be caused by autoimmune
disorders, iodine deficiency, or other factors. Undiagnosed
patients are a significant concern due to the potential for
long-term health complications. Disease awareness campaigns are
essential to increase understanding of hypothyroidism and its
symptoms. Treatment options include drug combinations, oral
administration of Liothyronine and Levothyroxine, and intravenous
administration. Thyroid function tests, such as thyroid antibody
exam and thyroid ultrasound, aid in diagnosis. The hypothyroidism
market is expanding with in-market drugs and pipeline drugs,
including late-stage pipeline drugs, addressing various unmet
needs. Lifestyle modifications can also help manage symptoms.
Epidemiology data indicates a growing patient pool, particularly in
developing countries.
Table of Contents:
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation
- Disease Type
-
- Primary Hypothyroidism
- Secondary Hypothyroidism
- Others
- Distribution Channel
-
- Hospital Pharmacy
- Retail Pharmacy
- Online Pharmacy
- Geography
-
- North America
- Europe
- Asia
- Rest Of World (ROW)
7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix
About Technavio
Technavio is a leading global technology research and advisory
company. Their research and analysis focuses on emerging market
trends and provides actionable insights to help businesses identify
market opportunities and develop effective strategies to optimize
their market positions.
With over 500 specialized analysts, Technavio's report library
consists of more than 17,000 reports and counting, covering 800
technologies, spanning across 50 countries. Their client base
consists of enterprises of all sizes, including more than 100
Fortune 500 companies. This growing client base relies on
Technavio's comprehensive coverage, extensive research, and
actionable market insights to identify opportunities in existing
and potential markets and assess their competitive positions within
changing market scenarios.
Contacts
Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/
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