Thyroid Gland Disorder Treatment Market by Type and Geography - Forecast and Analysis 2021-2025
- Published: Nov 2021
- Pages: 120
- SKU: IRTNTR45366
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The thyroid gland disorder treatment market share is expected to increase by USD 63.2 billion from 2020 to 2025, and the market's growth momentum will accelerate at a CAGR of 4.63%.
This thyroid gland disorder treatment market research report provides valuable insights on the post-COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers thyroid gland disorder treatment market segmentation by type (hypothyroidism and hyperthyroidism) and geography (North America, Europe, Asia, and ROW). The thyroid gland disorder treatment market report also offers information on several market vendors, including Abbott Laboratories, AbbVie Inc., Alvogen ehf, Amgen Inc., GlaxoSmithKline Plc, Lannett Co. Inc., Merck KGaA, Pfizer Inc., RLC Labs Inc., and Viatris Inc. among others.
What will the Thyroid Gland Disorder Treatment Market Size be During the Forecast Period?
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Thyroid Gland Disorder Treatment Market: Key Drivers, Trends, and Challenges
Based on our research output, there has been a neutral impact on the market growth during and post COVID-19 era. The rise in thyroid treatment awareness programs globally is notably driving the thyroid gland disorder treatment market growth, although factors such as high entry barrier may impede the market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the thyroid gland disorder treatment industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.
Key Thyroid Gland Disorder Treatment Market Driver
The rise in thyroid treatment awareness programs globally is one of the key factors driving the growth of the global thyroid gland disorder treatment market. Globally, about 5.5%-6% of individuals are affected by subclinical thyroid disorders. About 50% of individuals affected with thyroid disorders remain undiagnosed owing to low awareness. To increase the awareness of timely diagnosis and treatment of thyroid gland disorders, governmental and non-governmental organizations are increasingly launching campaigns that are focused on educating the people for timely detection of the preliminary symptoms that can develop into complex thyroid disorders. For instance, in January 2020, the AACE launched the UP To Here Campaign. The campaign aims to increase awareness of thyroid diseases. These camps were to educate people about the increased risk of developing a thyroid disorder, and the prevalence of the disease and focus on educating and preventing programs. Globally, every year, International Thyroid Awareness Week is celebrated in November. The above factors will increase the market growth during the forecast period.
Key Thyroid Gland Disorder Treatment Market Trend
The rising focus on emerging economies will fuel the global thyroid gland disorder treatment market growth. Globally, the thyroid gland disorder treatment market is expected to grow at a high growth rate owing to the rising prevalence of thyroid gland disorders. The market has witnessed a growing preference for thyroid therapeutics in developed as well as developing regions. The vendors are focusing on the untapped emerging economies such as the Middle East, Africa, China, and India. As of October 2020, about 10% of adults in India were affected by hypothyroidism. According to research studies, hypothyroidism is more affected in women aged 46-54 years. Therefore, many domestic and foreign vendors such as Novartis AG, Pfizer Inc., and Merck & Co., Inc., are looking to tap the high-potential emerging countries. The above factors will increase the market growth during the forecast period.
Key Thyroid Gland Disorder Treatment Market Challenge
The high entry barrier is a major challenge for the global thyroid gland disorder treatment market growth. The thyroid gland disorder treatment market has the presence of many established players, stringent regulations, and stringent compliance requirements for product commercialization, which makes it difficult for smaller companies to come up with innovative products. This sets a high entry barrier for new players. The global thyroid gland disorder treatment market is fragmented. However, the established players hold a significant share. The established players have a strong presence in the market with technologically advanced products that have a competitive advantage over other players. These established companies also have well-defined supply chains and easy access to distribution channels, which pose a challenge for newer and smaller companies to penetrate the market. However, as the products are subjected to use in critical applications, following the standard manufacturing process is imperative, where new entrants struggle to comply. Thus, owing to high entry barriers, only a small number of startup companies invest in the market, thereby hindering market growth.
This thyroid gland disorder treatment market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2021-2025.
Parent Market Analysis
Technavio categorizes the global thyroid gland disorder treatment market as a part of the pharmaceutical market within the overall healthcare industry. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the thyroid gland disorder treatment market during the forecast period.
Who are the Major Thyroid Gland Disorder Treatment Market Vendors?
The report analyzes the market's competitive landscape and offers information on several market vendors, including:
- Abbott Laboratories
- AbbVie Inc.
- Alvogen ehf
- Amgen Inc.
- GlaxoSmithKline Plc
- Lannett Co. Inc.
- Merck KGaA
- Pfizer Inc.
- RLC Labs Inc.
- Viatris Inc.
This statistical study of the thyroid gland disorder treatment market encompasses successful business strategies deployed by the key vendors. The thyroid gland disorder treatment market is fragmented and the vendors are deploying organic and inorganic growth strategies to compete in the market.
Product Insights and News
- Abbott Laboratories -The company offers different types of thyroid gland disorders treatment such as Thyronorm, Thyrocab, Thyrocal D3, and others.
To make the most of the opportunities and recover from post-COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.
The thyroid gland disorder treatment market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.
Thyroid Gland Disorder Treatment Market Value Chain Analysis
Our report provides extensive information on the value chain analysis for the thyroid gland disorder treatment market, which vendors can leverage to gain a competitive advantage during the forecast period. The end-to-end understanding of the value chain is essential in profit margin optimization and evaluation of business strategies. The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period.
The value chain of the global pharmaceutical market includes the following core components:
- Inbound logistics
- Outbound logistics
- Marketing and sales
- Support activities
The report has further elucidated other innovative approaches being followed by service providers to ensure a sustainable market presence.
Which are the Key Regions for Thyroid Gland Disorder Treatment Market?
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35% of the market's growth will originate from North America during the forecast period. The US and Canada are the key markets for the thyroid gland disorder treatment market in North America. Market growth in this region will be slower than the growth of the market in regions.
The rise in thyroid treatment awareness programs globally will facilitate the thyroid gland disorder treatment market growth in North America over the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.
COVID Impact and Recovery Analysis
In 2020, the outbreak of COVID-19 affected all countries in North America, especially the US. It also had a slight negative impact on the thyroid gland disorder treatment market in the region. A rise in the number of COVID-19 cases in the first quarter of 2020 led to the imposition of partial lockdowns in several countries, including Canada and Mexico. Thus, various non-urgent treatments were given either in a limited capacity or were completely paused as per guidelines. Some scheduled treatments and clinical visits were either delayed or postponed. Hence, the adoption of thyroid gland disorder treatment declined slightly, which adversely impacted the growth of the regional market in 2020 and Q1 2021 to some extent. However, by the second half of 2020, restrictions were somewhat eased in various countries, which allowed the resumption of business activities. The relaxation of such restrictions will encourage people to go for health checkups and treatments, which will drive the growth of the thyroid gland disorder treatment market in North America during the forecast period.
What are the Revenue-generating Type Segments in the Thyroid Gland Disorder Treatment Market?
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The thyroid gland disorder treatment market share growth by the Hypothyroidism segment will be significant during the forecast period. Hypothyroidism or underactive thyroid is a condition where the thyroid gland is not able to produce a substantial amount of crucial thyroid hormones. According to the Thyroid Foundation of Canada, hypothyroidism is among the most common variety of thyroid disorders, which affects an estimated 200 million people.
This report provides an accurate prediction of the contribution of all the segments to the growth of the thyroid gland disorder treatment market size and actionable market insights on post-COVID-19 impact on each segment.
Thyroid Gland Disorder Treatment Market Scope
Growth momentum & CAGR
Accelerate at a CAGR of 4.63%
Market growth 2021-2025
$ 63.2 billion
YoY growth (%)
North America, Europe, Asia, and ROW
Performing market contribution
North America at 35%
Key consumer countries
US, Canada, Germany, China, and UK
Leading companies, Competitive strategies, Consumer engagement scope
Key companies profiled
Abbott Laboratories, AbbVie Inc., Alvogen ehf, Amgen Inc., GlaxoSmithKline Plc, Lannett Co. Inc., Merck KGaA, Pfizer Inc., RLC Labs Inc., and Viatris Inc.
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.
What are the Key Data Covered in this Thyroid Gland Disorder Treatment Market Report?
- CAGR of the market during the forecast period 2021-2025
- Detailed information on factors that will drive thyroid gland disorder treatment market growth during the next five years
- Precise estimation of the thyroid gland disorder treatment market size and its contribution to the parent market
- Accurate predictions on upcoming trends and changes in consumer behavior
- The growth of the thyroid gland disorder treatment industry across North America, Europe, Asia, and ROW
- A thorough analysis of the market's competitive landscape and detailed information on vendors
- Comprehensive details of factors that will challenge the growth of thyroid gland disorder treatment market vendors
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1 Executive Summary
2 Market Landscape
- 2.1 Market ecosystem
- Exhibit 01: Parent market
- Exhibit 02: Market characteristics
- 2.2 Value chain analysis
- Exhibit 03: Value chain analysis: Pharmaceuticals
3 Market Sizing
- 3.1 Market definition
- Exhibit 04: Offerings of vendors included in the market definition
- 3.2 Market segment analysis
- Exhibit 05: Market segments
- 3.3 Market size 2020
- 3.4 Market outlook: Forecast for 2020 - 2025
- Exhibit 06: Global - Market size and forecast 2020 - 2025 ($ million)
- Exhibit 07: Global market: Year-over-year growth 2020 - 2025 (%)
4 Five Forces Analysis
- 4.1 Five forces summary
- Exhibit 08: Five forces analysis 2020 & 2025
- 4.2 Bargaining power of buyers
- Exhibit 09: Bargaining power of buyers
- 4.3 Bargaining power of suppliers
- Exhibit 10: Bargaining power of suppliers
- 4.4 Threat of new entrants
- Exhibit 11: Threat of new entrants
- 4.5 Threat of substitutes
- Exhibit 12: Threat of substitutes
- 4.6 Threat of rivalry
- Exhibit 13: Threat of rivalry
- 4.7 Market condition
- Exhibit 14: Market condition - Five forces 2020
5 Market Segmentation by Type
- 5.1 Market segments
- Exhibit 15: Type - Market share 2020-2025 (%)
- 5.2 Comparison by Type
- Exhibit 16: Comparison by Type
- 5.3 Hypothyroidism - Market size and forecast 2020-2025
- Exhibit 17: Hypothyroidism - Market size and forecast 2020-2025 ($ million)
- Exhibit 18: Hypothyroidism - Year-over-year growth 2020-2025 (%)
- 5.4 Hyperthyroidism - Market size and forecast 2020-2025
- Exhibit 19: Hyperthyroidism - Market size and forecast 2020-2025 ($ million)
- Exhibit 20: Hyperthyroidism - Year-over-year growth 2020-2025 (%)
- 5.5 Market opportunity by Type
- Exhibit 21: Market opportunity by Type
6 Customer landscape
7 Geographic Landscape
- 7.1 Geographic segmentation
- Exhibit 23: Market share by geography 2020-2025 (%)
- 7.2 Geographic comparison
- Exhibit 24: Geographic comparison
- 7.3 North America - Market size and forecast 2020-2025
- Exhibit 25: North America - Market size and forecast 2020-2025 ($ million)
- Exhibit 26: North America - Year-over-year growth 2020-2025 (%)
- 7.4 Europe - Market size and forecast 2020-2025
- Exhibit 27: Europe - Market size and forecast 2020-2025 ($ million)
- Exhibit 28: Europe - Year-over-year growth 2020-2025 (%)
- 7.5 Asia - Market size and forecast 2020-2025
- Exhibit 29: Asia - Market size and forecast 2020-2025 ($ million)
- Exhibit 30: Asia - Year-over-year growth 2020-2025 (%)
- 7.6 ROW - Market size and forecast 2020-2025
- Exhibit 31: ROW - Market size and forecast 2020-2025 ($ million)
- Exhibit 32: ROW - Year-over-year growth 2020-2025 (%)
- 7.7 Key leading countries
- Exhibit 33: Key leading countries
- 7.8 Market opportunity by geography
- Exhibit 34: Market opportunity by geography ($ million)
8 Drivers, Challenges, and Trends
- 8.1 Market drivers
- 8.2 Market challenges
- Exhibit 35: Impact of drivers and challenges
- 8.3 Market trends
9 Vendor Landscape
- 9.1 Overview
- 9.2 Vendor landscape
- Exhibit 36: Vendor landscape
- 9.3 Landscape disruption
- Exhibit 37: Landscape disruption
- Exhibit 38: Industry risks
10 Vendor Analysis
- 10.1 Vendors covered
- Exhibit 39: Vendors covered
- 10.2 Market positioning of vendors
- Exhibit 40: Market positioning of vendors
- 10.3 Abbott Laboratories
- Exhibit 41: Abbott Laboratories - Overview
- Exhibit 42: Abbott Laboratories - Business segments
- Exhibit 43: Abbott Laboratories - Key News
- Exhibit 44: Abbott Laboratories - Key offerings
- Exhibit 45: Abbott Laboratories - Segment focus
- 10.4 AbbVie Inc.
- Exhibit 46: AbbVie Inc. - Overview
- Exhibit 47: AbbVie Inc. - Product and service
- Exhibit 48: AbbVie Inc. - Key News
- Exhibit 49: AbbVie Inc. - Key offerings
- 10.5 Alvogen ehf
- Exhibit 50: Alvogen ehf - Overview
- Exhibit 51: Alvogen ehf - Product and service
- Exhibit 52: Alvogen ehf - Key News
- Exhibit 53: Alvogen ehf - Key offerings
- 10.6 Amgen Inc.
- Exhibit 54: Amgen Inc. - Overview
- Exhibit 55: Amgen Inc. - Business segments
- Exhibit 56: Amgen Inc. - Key News
- Exhibit 57: Amgen Inc. - Key offerings
- 10.7 GlaxoSmithKline Plc
- Exhibit 58: GlaxoSmithKline Plc - Overview
- Exhibit 59: GlaxoSmithKline Plc - Business segments
- Exhibit 60: GlaxoSmithKline Plc - Key News
- Exhibit 61: GlaxoSmithKline Plc - Key offerings
- Exhibit 62: GlaxoSmithKline Plc - Segment focus
- 10.8 Lannett Co. Inc.
- 10.9 Merck KGaA
- Exhibit 67: Merck KGaA - Overview
- Exhibit 68: Merck KGaA - Business segments
- Exhibit 69: Merck KGaA - Key News
- Exhibit 70: Merck KGaA - Key offerings
- Exhibit 71: Merck KGaA - Segment focus
- 10.10 Pfizer Inc.
- Exhibit 72: Pfizer Inc. - Overview
- Exhibit 73: Pfizer Inc. - Business segments
- Exhibit 74: Pfizer Inc. - Key offerings
- 10.11 RLC Labs Inc.
- Exhibit 75: RLC Labs Inc. - Overview
- Exhibit 76: RLC Labs Inc. - Product and service
- Exhibit 77: RLC Labs Inc. - Key offerings
- 10.12 Viatris Inc.
- Exhibit 78: Viatris Inc. - Overview
- Exhibit 79: Viatris Inc. - Business segments
- Exhibit 80: Viatris Inc. - Key offerings
- Exhibit 81: Viatris Inc. - Segment focus
- 11.1 Scope of the report
- 11.2 Currency conversion rates for US$
- Exhibit 82: Currency conversion rates for US$
- 11.3 Research methodology
- Exhibit 83: Research Methodology
- Exhibit 84: Validation techniques employed for market sizing
- Exhibit 85: Information sources
- 11.4 List of abbreviations
- Exhibit 86: List of abbreviations
Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.
- Market size and forecast
- Market segmentation
- Geographical insights
- Competitive landscape
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Frequently Asked Questions?
- Rise in thyroid treatment awareness programs globally
- Rising focus on emerging economies
Key Questions Answered
- What are the key global market and the regional market share?
- What are the revenue-generating key market segments?
- What are the key factors driving and challenging this market’s growth?
- Who are the key market vendors and their growth strategies?
- What are the latest trends influencing the growth of this market?
- What are the variables influencing the market growth in the primary regions?
- What are the factors influencing the growth of the parent market?
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