Thyroid Gland Disorders Therapeutics Market

SKU: DMPH2727 | Last Updated On: Nov 09 2022 | Available Formats

> Thyroid Gland Disorders Therapeutics Market Expected to reach a high CAGR of 3.1% during the forecast period 2022-2029

Thyroid Gland Disorders Therapeutics Market is segmented By Disease Type (Hypothyroidism, Hyperthyroidism, Others), By Drug Class (Thiourea derivatives, Beta-adrenergic blocking agents, Thyroid hormones, Liothyronine, Electrolytes, Corticosteroids, Tricyclic antidepressants, Antiepileptic agents), By Route of Administration (Oral, Parenteral, Others), By Distribution Channel (Retail Stores, Online Pharmacy, Wholesale Distribution, Others), and By Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) – Global Industry Share, Size, Outlook, and Opportunity Analysis, 2022-2029

 

Market Overview

[195 Pages Report] Thyroid Gland Disorders Therapeutics Market is expected to grow at a high CAGR of 3.1% during the forecasting period (2022-2029).

Thyroid gland-related disorders are caused due to the inefficiency f the thyroid gland to produce enough thyroid hormones. Thyroid disorders are mainly caused due to a deficiency of iodine in the body. Thyroid disease is most common in adults aged 30-50 years, but all age groups are affected. Cretinism and neonatal myxedema manifest in the intrauterine/perinatal period. Thyroid medications encompass an array of different options, which differ not only in their composition but their intent. Hormone replacement therapy, such as Synthroid (levothyroxine), is the most widely used drug for hypothyroidism. An anti-thyroid drug such as Tapazole (methimazole) is used for hyperthyroidism, and thyroid cancer patients may require radioactive-iodine therapy or chemotherapy.

As per DataM Intelligence, the research report covers detailed insights on the thyroid gland disorders therapeutics market size, trends, share, growth, volume, demand, and competitive analysis in the major regions and countries such as North America (United States, Canada), European Countries (Germany, Italy, UK, Spain, France, Russia), Latin America (Mexico, Argentina), Asia Pacific (China, India, Japan, South Korea), and the Middle East and Africa region (Saudi Arabia, UAE, Qatar, and South Africa).

North American market is expected to show a prominent growth rate during the forecast period, and the thyroid gland disorders therapeutics market in North America will remain to continue dominate over the forecast period 2022-2029. The developed health facilities and strong government initiative in the management of thyroid diseases make the North American region a significant revenue generator to the market deliberate. Asia Pacific thyroid gland disorders therapeutics market is projected to show a profitable growth rate as companies in the Asia Pacific are aiming at the growth of less expensive products with large effectiveness. Countries such as Japan, China, India, and South Korea in this region are playing a major role in the growth of the thyroid gland disorders therapeutics market in the Asia Pacific region.

Thyroid Gland Disorders Therapeutics Market Scope

Metrics

Details

Market CAGR

3.1%

Segments Covered

By Disease Type, By Drug Class, By Route of Administration, By Distribution Channel, and By Region

Report Insights Covered

Competitive Landscape Analysis, Company Profile Analysis, Market Size, Share, Growth, Demand, Recent Developments, Mergers and acquisitions, New Product Launches, Growth Strategies, Revenue Analysis, and Other key insights.

Fastest Growing Region

Asia Pacific

Largest Market Share 

North America

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Market Growth Dynamics

The rising burden of the population with iodine deficiency is driving the market growth

The global thyroid gland disorders therapeutics market growth is primarily driven by the rising burden of the population with iodine deficiency. Iodine deficiency is majorly caused by a low intake of iodine in the diet. According to the World Health Organization (WHO), it is recommended that the daily intake (RDI) of iodine should be around 150 mcg per day, which is sufficient for more than 95% of all healthy adults, with pregnant and lactating women needing more. Iodine deficiency is growing commonly in European countries, as well as in the low- and middle-income countries in Asia-Pacific and Africa. As per the National Institute of Health, the prevalence of iodine deficiency is higher in the mountainous regions of the United States and Mexico, where more people are falling prey to thyroid diseases.

Epidemiology

In the United States, thyroid disease is common in adults. According to a survey, the prevalence of hypothyroidism is 1.4% in adult females and 0.1% in adult males. The prevalence of Graves disease, a hyperthyroid condition, is 1.9% in females and about 0.19% in males. Peak age incidence is in the range of 30-50 years. The congenital disease occurs in 1 per 4000 neonates in North America and Western Europe. This is seen more frequently in areas of iodine deficiency.

Globally, about 1 billion people are at risk for iodine deficiency disorders. Endemic goiter is the most common manifestation and has a varying prevalence. In communities with severe iodine deficiency, prevalence is 5-15% but can reach 100%. This situation occurs in developing countries.

Segment Analysis

The global thyroid gland disorders therapeutics market is segmented based on disease type, drug class, route of administration, and distribution channel.

By Disease Type, Hyperthyroidism is expected to witness rapid growth

Hyperthyroidism is a disorder in which the thyroid gland produces thyroxin in a large amount. According to the National Institute of Health, the prevalence of hyperthyroidism is expected to be around 1-1.3%, and it increases up to 4-5% in older women.

Also, the disease more commonly occurs in smokers. As smoking is rising among the general population globally, an increasing number of people are falling prey to the disease. In addition, the awareness of hyperthyroidism is growing in developing countries, such as India, which is expected to drive the growth of the market.

The treatment of hyperthyroidism is generally more complex than hypothyroidism, requiring one or more treatments such as an Anti-thyroid drug, Radioactive iodine (RAI), and Surgery to remove the gland (thyroidectomy). The only medications for hyperthyroidism are anti-thyroid drugs. Tapazole (methimazole, or MMI) and Propylthiouracil (PTU) are currently two approved for use in treating hyperthyroidism in the United States.

In December 2019, Life science company Bioiberica has launched a natural thyroid active pharmaceutical ingredient (API) for the treatment of hypothyroidism.

The thyroid hormones segment is expected to account for the largest market share during the forecast period

  • Thyroid hormones: These agents are used in thyroid hormone replacement.
    • Levothyroxine (Synthroid, Levoxyl): Levothyroxine is synthetic, but it is identical to natural T4; in its active form, levothyroxine influences the growth and maturation of tissues; it is involved in normal growth, metabolism, and development.
    • Liothyronine (Cytomel, Triostat): Liothyronine is a synthetic form of T3 (triiodothyronine). Brand names of liothyronine in the United States are Cytomel and Triostat. Because experts, for the most part, recommend T4-monotherapy and not combination T4/T3 therapy for treating hypothyroidism, this medication is not commonly prescribed.
  • Thiourea derivatives: These medications are preferred for suppressing thyroid function.
    • Propylthiouracil (PTU): Propylthiouracil is a derivative of thiourea that inhibits the organification of iodine by the thyroid gland. It also inhibits the conversion of T4 to T3, which is an advantage over other agents.
    • Methimazole (Tapazole): Methimazole suppresses thyroid function and has a mechanism similar to that of PTU; it does not inhibit the peripheral conversion of T4 to T3. Methimazole is fifteen times as potent as PTU. PTU-equivalent dosing can be used, divided thrice daily.
  • Beta-adrenergic blocking agents: These agents are used to treat symptomatic hyperthyroidism.
    • Propranolol (Inderal): This nonselective, beta-adrenergic blocking agent treats symptomatic tachycardia. Propranolol has membrane-stabilizing activity and decreases the automaticity of contractions.
  • Electrolytes: These agents replace depleted electrolytes.
    • Potassium chloride (K-DUR): Potassium chloride is essential for the transmission of nerve impulses, maintenance of intracellular tonicity, and maintenance of normal renal function. It is also vital for skeletal and smooth muscles. Potassium chloride replaces potassium lost in thyrotoxic periodic paralysis.
  • Corticosteroids: These agents provide immunosuppressive therapy for Graves ophthalmopathy, especially in cases of severe exophthalmos.
    • Prednisone (Deltasone, Sterapred, Orasone): Prednisone is a widely used glucocorticoid that suppresses inflammatory processes by reversing increased capillary permeability and suppressing PMN activity; it is used to treat allergic, inflammatory, and autoimmune disorders.
  • Tricyclic antidepressants: These agents may help relieve painful polyneuropathy.
    • Amitriptyline (Elavil): By inhibiting the reuptake of serotonin and/or norepinephrine by the presynaptic neuronal membrane, amitriptyline may increase the synaptic concentration of these neurotransmitters in the CNS; it is useful as an analgesic for certain chronic and neuropathic pain.
  • Antiepileptic agents: These agents are useful in treating neuropathic pain.
    • Gabapentin (Neurontin): Gabapentin's exact mechanism is unknown. It is structurally related to GABA and is useful in some pain syndromes.

COVID-19 Impact Analysis

COVID-19 is affecting the global economy by directly affecting production and demand, disturbing the supply chain and market disruption, and by its a financial impact on firms and financial markets. The global market for thyroid gland disorders therapeutics has slowed down from the COVID-19  pandemic, as stakeholders are increasingly searching for newer approaches to diagnosing and curing patients affected by COVID-19.

Geographical Analysis

The North American region holds the largest market share in the global Thyroid Gland Disorders Therapeutics market

North American region is dominating the global market and accounted for the largest market share in 2019, owing to the high prevalence rate for thyroid disorders in the United States, rising risk factors such as obesity and diabetes, and well-established healthcare infrastructure.

In North America, around 35 million people suffer from at least one form of thyroid disease. As per the American Association of Clinical Endocrinologists (AACE) survey, around 13 million people, or 4.80% of the population, had thyroid disorders in the United States in 2016. Also, as per the American Thyroid Association, in 2017, around 4.6% of the US population had hypothyroidism, and 1.3% had hyperthyroidism.

Various companies have collaborated with the America Thyroid Association (ATA), as the association has supported various research grants worth about US$ 2.2 million. Several large players are involved in raising awareness in American society through campaigns towards thyroid disorders. For instance, in 2017 and 2018, Merck launched the “It is not you. It is your thyroid” campaign. The awareness campaign is in collaboration with the Thyroid Federation International (TFI), as it is observed by companies that thyroid disorders are underdiagnosed.

In January 2020, The American Association of Clinical Endocrinologists launched the Up To Here campaign to raise awareness of thyroid diseases and to help U.S. residents recognize symptoms, risk factors, and the need to seek treatment. The campaign, launched to coincide with Thyroid Awareness Month, is designed to highlight common symptoms associated with thyroid diseases, such as weight gain and mood or sleep disorders.

The Asia-Pacific region is growing at the fastest CAGR during the forecast period.

The Asia Pacific market is expected to grow at the fastest CAGR during the forecast period, due to the rising demand for thyroid treatments in developing countries such as China, India, and South Korea. These countries are emerging as major destinations for outsourcing clinical trials, drug manufacturing, and pathology testing. The development of effective drug therapies for thyroid disorders and the rise in the number of disease awareness programs in developing countries are responsible for the market growth in this region.

Competitive Landscape

The market for thyroid gland disorders therapeutics is moderately competitive and majorly consists of global players. The rising drug development may witness the entry of a few small- or mid-sized companies into the market during the forecast period. Some of the key players which are contributing to the growth of the market include Abbvie Inc., GlaxoSmithKline PLC, Amgen Inc., Novartis AG, Mylan NV, Merck KGaA, Pfizer Inc., Takeda Pharmaceutical Company Limited, among others.

Company Profile Insights

Pfizer Inc.-Overview:

Pfizer Inc. is an American pharmaceutical corporation headquartered in New York City. The company develops and produces medicines and vaccines for a wide range of medical disciplines, including immunology, oncology, cardiology, endocrinology, and neurology. Its products include the blockbuster drug Lipitor (atorvastatin), used to lower LDL blood cholesterol; Lyrica (pregabalin) for neuropathic pain and fibromyalgia; Diflucan (fluconazole), an oral antifungal medication; Zithromax (azithromycin), an antibiotic; Viagra (sildenafil) for erectile dysfunction; and Celebrex (also Celebra, celecoxib), an anti-inflammatory drug.

Product Portfolio:

  • LEVOXYL® (levothyroxine sodium): LEVOXYL is L-thyroxine (T4) indicated in pediatric and adult patients for :
    • Hypothyroidism: As a replacement in primary (thyroidal), secondary (pituitary), and tertiary (hypothalamic) congenital or acquired hypothyroidism.
    • Pituitary Thyrotropin (Thyroid-Stimulating Hormone, TSH) suppression: As an adjunct to surgery and radioiodine therapy in the management of well-differentiated thyroid cancer
  • CYTOMEL® (liothyronine sodium): CYTOMEL is an L-triiodothyronine (T3) indicated for:
    • Hypothyroidism: As a replacement in primary (thyroidal), secondary (pituitary), and tertiary (hypothalamic) congenital or acquired hypothyroidism.
    • Pituitary Thyroid-Stimulating Hormone (TSH) Suppression: As an adjunct to surgery and radioiodine therapy in the management of well-differentiated thyroid cancer.
    • Thyroid Suppression Test: As a diagnostic agent in suppression tests to differentiate suspected mild hyperthyroidism or thyroid gland autonomy

Key Development:

The major players are adopting several growth strategies such as product launches, acquisitions, and collaborations, which are contributing to the growth of thyroid gland disorders therapeutics globally. For instance,

  • In January 2020, the U.S. Food and Drug Administration (FDA) approved Tepezza (teprotumumab-trow) for the treatment of adults with thyroid eye disease, a rare condition where the muscles and fatty tissues behind the eye become inflamed, causing the eyes to be pushed forward and bulge outwards (proptosis).
  • In March 2018, Eisai Co., Ltd., and Merck, known as MSD outside the US and Canada, announced that the companies a strategic collaboration for the worldwide co-development and co-commercialization of LENVIMA (lenvatinib mesylate), an orally available tyrosine kinase inhibitor discovered by Eisai.
  • In October 2017, Abbott acquired Alere Inc., a diagnostic device and service provider organization that manufactures a diagnostic screening device, ThyroTest used for the initial detection of hypothyroidism.
  • In November 2015, AbbVie introduced Good Morning Hypothyroidism (GMH), an all-inclusive program that focuses on a daily routine for managing the life-long condition of hypothyroidism.

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FAQ

What is the Growth Rate of the Thyroid Gland Disorders Therapeutics Market?

grow at a high CAGR of 3.1% during the forecasting period (2022-2029).

What Companies Are Included in the Thyroid Gland Disorders Therapeutics Market?

Abbvie Inc., GlaxoSmithKline PLC, Amgen Inc., Novartis AG, Mylan NV, Merck KGaA, Pfizer Inc., and Takeda Pharmaceutical Company Limited, among others.

What is the Impact of COVID-19?

COVID-19 impacts the entire world- wide economy by directly impacting production and demand, disrupting the supply chain and marketplace disruption.

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