Thyroid Gland Disorders Treatment Market

Thyroid Gland Disorders Treatment Market (Disorders: Hypothyroidism and Hyperthyroidism) – Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2023-2031

Market Outlook 2031

  • The thyroid gland disorders treatment market size stood at US$ 2.2 Bn in 2022
  • It is expected to increase at a CAGR of 4.7% from 2023 to 2031 and reach US$ 3.3 Bn by the end of 2031

Analyst Viewpoint

Rise in demand for early detection of thyroid disorders is prompting several prominent players to develop innovative diagnostic tests. This, in turn, is projected to drive the thyroid gland disorders treatment market growth in the next few years. Growing incidence of hypothyroidism and hyperthyroidism and rising government initiatives to screen thyroid gland disorders are fueling the global market demand.

Changing lifestyles, environmental influences, and enhanced diagnostic capabilities are boosting the growth of the thyroid gland disorders treatment industry. Additionally, development of effective combination drug therapies with reduced side-effects is anticipated to fuel the market for treatment of thyroid dysfunction. Furthermore, evolving healthcare trends and advances in medical research are anticipated to offer lucrative thyroid gland disorders treatment business opportunities to drug manufacturers in the next few years.

Thyroid Gland Disorders Treatment Market

Market Introduction

Thyroid gland disorders majorly refer to medical conditions, such as hypothyroidism and hyperthyroidism, which may cause elevated or decreased levels of hormones that regulate the rate of metabolism in the body. Iodine deficiency is the most common cause of thyroid disorders. According to the National Center of Biotechnology Information, in August 2022, iodine was among the common nutrient deficiencies and is estimated to have adversely affected 35% to 45% of the global population in 2021.

According to a Statpearls article published in July 2022, more number of women aged 65 and above suffer from subclinical hyperthyroidism as compared to men; such that 0.4/1000 women and 0.1/1000 men are found battling hyperthyroidism after crossing the age of 65.

The research report on thyroid gland disorders treatment market encompasses products and services that address or treat various thyroid gland-related medical conditions. Key components of treatment include tests for accurate diagnosis and monitoring, prescription medications, and surgical interventions.

One of the major thyroid gland disorders treatment market trends is the usage of radioactive iodine (I-131) for treating hyperthyroidism. Presently, it is preferred as the very first line of treatment, as it successfully reduces quantity of thyroxin along with size of gland, as compared to surgery.

Expenses associated with thyroid medications and treatments can be substantially high. Long-term management of thyroid diseases, including prescription drugs, radioactive iodine therapy, and surgical interventions, can strain budgets of patients. Some patients may seek alternative therapies or complementary medicine, which in turn is likely to hamper the adoption of conventional thyroid dysfunction therapeutics.

Increase in Prevalence of Thyroid Disorders Boosting Thyroid Gland Disorders Treatment Market Value

According to the Lancet, more than 40% of the global population is affected by thyroid disorders. It further states that over 1 billion individuals worldwide are at the risk of iodine deficiency. Iodine deficiency is the most common cause of thyroid disease, specifically hypothyroidism or an underactive thyroid. Therefore, rise in number of patients with iodine deficiency is boosting the thyroid dysfunction intervention market.

Increase in number of approvals obtained by and diagnostics tests conducted by market players are expected to propel the thyroid gland disorders treatment market revenue in the near future. For instance, in November 2021, Bloom Diagnostics, a Switzerland-based med-tech company, introduced its Bloom Thyroid Test for helping in the detection of hypothyroidism.

Thyroid cancer is the fifth most common cancer in women in the U.S. There has been a steady rise in the incidence of thyroid cancer, globally. PTC detection, in particular, has increased by 240% in the last three decades. An in depth look at the future analysis of gobal market reveals an increasing trend in the rate of diagnostic imaging due to rise in incidence of thyroid cancer.

Growth in Geriatric Population Propelling Thyroid Gland Disorders Treatment Market Growth

There has been a significant increase in the incidence and prevalence of thyroid disorders in the elderly population. Hypothyroidism, a condition where the thyroid gland does not produce enough thyroid hormones, occurs in 10% of females and 2% of males in patients older than 60 years.

Geriatric patients need treatment with age-conducive dosages of levothyroxine along with a long-term follow-up. This is compelling government organizations across the world to increase the awareness about timely diagnosis and treatment of thyroid gland disorders.

In January 2020, the American Association of Clinical Endocrinology (AACE) launched the ‘UP To Here Campaign’ with an aim to increase the awareness about thyroid diseases. Such awareness programs are encouraging individuals to seek effective treatment for thyroid gland disorders, which in turn is boosting market progress.

Thyroid Gland Disorders Treatment Market: Regional Insights

North America dominates the thyroid gland disorders treatment market due to growing incidences of thyroid disorders in the region. According to the Canadian Cancer Society 2022 report, close to 6,700 Canadians were diagnosed with thyroid cancer in the year 2022. As per the American Cancer Society, in 2023, an estimated 43,720 adults (12,540 men and 31,180 women) in the U.S. are likely to be diagnosed with thyroid cancer.

As per the European Society of Endocrinology, thyroid cancer is the second most frequent cancer among women in Europe. It further states that thyroid cancer has been increasing at the rate of 4% every year for the last 30 years. This is expected to drive the demand for thyroid gland disorders treatment during the forecast period.

Analysis of Key Players

The thyroid gland disorder treatment market is highly competitive due to the presence of established players and stringent regulations compliance requirements. This is making it difficult for smaller players to enter the market with innovative offerings. Merck KGaA, Pfizer, Inc., Takeda Pharmaceutical Company Ltd., Allergan, Sanofi S.A., AbbVie Inc., Lannett Company, Inc., Aspen, Novartis AG, and Mylan N.V. are the key participants of thyroid gland disorders treatment market scope.

Key Developments

  • In November 2022, Zydus Lifesciences received approval from the US FDA for marketing Levothyroxine Sodium injection to address thyroid hormone deficiency.
  • In May 2022, Eli Lilly and Company’s once-weekly GIP (glucose-dependent insulinotropic polypeptide) and GLP-1 (glucagon-like peptide-1) receptor agonist called Mounjaro (tirzepaide) injection for improving glycemic control in adults suffering from type 2 diabetes.
  • In September 2021, Exelixis Inc. received approval from the US FDA for CABOMETYZ (cabozantinib) to treat metastatic differentiated thyroid cancer (DTC).
  • In September 2020, Sandoz (a Novartis division) introduced generic ‘Fosaprepitant’ – an anti-emetic drug to prevent nausea and vomiting induced through chemotherapy.

Key players in thyroid gland disorders treatment market report have been profiled based on various parameters such as company overview, business strategies, financial overview, product portfolio, and business segments.

Thyroid Gland Disorders Treatment Market Snapshot

Attribute Detail
Market Value in 2022 (Base Year) US$ 2.2 Bn
Market Forecast Value in 2031 US$ 3.3 Bn
Growth Rate (CAGR) 4.7%
Forecast Period 2023-2031
Quantitative Units US$ Bn for Value
Market Analysis Qualitative analysis includes drivers, restraints, opportunities, key trends, key market indicators, Porter’s Five Forces analysis, value chain analysis, and SWOT analysis. Furthermore, at the regional level, the qualitative analysis includes key trends, price trends, and key supplier analysis.
Competition Landscape
  • Prominent Players – Competition Dashboard and Revenue Share Analysis, 2022
  • Company Profiles (Details – Company Overview, Sales Area/Geographical Presence, Revenue, Strategy & Business Overview)
Regions Covered
  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East & Africa
Market Segmentation
  • Disorder
    • Hypothyroidism (Levothyroxine and Liothyronine)
    • Hyperthyroidism (Imidazole and Propacil)
Companies Profiled
  • Merck KGaA
  • Pfizer, Inc.
  • Takeda Pharmaceutical Company Ltd.
  • Allergan
  • Sanofi S.A.
  • AbbVie Inc.
  • Lannett Company, Inc.
  • Aspen
  • Novartis AG
  • Mylan N.V.
Scope for Customization Available upon Request
Pricing Available upon Request

Frequently Asked Questions

How big was the thyroid gland disorders treatment market in 2022?

The global market was valued at US$ 2.2 Bn in 2022

How is thyroid gland disorders treatment industry expected to grow during the forecast period?

It is projected to grow at a CAGR of 4.7% from 2023 to 2031

What are the key factors driving the demand for thyroid gland disorders treatment?

Increase in prevalence of thyroid disorders and growth of geriatric population

Which thyroid gland disorders treatment segment held largest share in 2022?

In terms of disorder, the hypothyroidism segment held largest share in 2022

Which region is expected to dominate the thyroid gland disorders treatment business?

North America is estimated to dominate in the next few years

Who are the key thyroid gland disorders treatment drugs manufacturers?

Merck KGaA, Pfizer, Inc., Takeda Pharmaceutical Company Ltd., Allergan, Sanofi S.A., AbbVie Inc., Lannett Company, Inc., Aspen, Novartis AG, and Mylan N.V.

    1. Executive Summary

        1.1. Market Definition and Scope

        1.2. Market Segmentation

        1.3. Key Research Objectives

        1.4. Research Highlights

    2. Assumptions and Research Methodology

    3. Executive Summary: Global Thyroid Gland Disorders Treatment Market

    4. Market Overview

        4.1. Market Segmentation

            4.1.1. Segment Definition

            4.1.2. Industry Evolution / Developments

        4.2. Overview

        4.3. Market Dynamics

            4.3.1. Drivers

            4.3.2. Restraints

            4.3.3. Opportunities

        4.4. Global Thyroid Gland Disorders Treatment Market Analysis and Forecast, 2023-2031

    5. Key Insights

        5.1. Pipeline Analysis

        5.2. List of Types of Thyroid Gland Disorder Tests

        5.3. Disorder Prevalence & Incidence Rate Globally With Key Countries

        5.4. COVID-19 Pandemic Impact on Industry

    6. Thyroid Gland Disorders Treatment Market Analysis and Forecast, by Disorder

        6.1. Introduction and Definitions

        6.2. Key Findings/Developments

        6.3. Market Value Forecast, by Disorder, 2023-2031

            6.3.1. Hypothyroidism

                6.3.1.1. Levothyroxine

                6.3.1.2. Liothyronine

            6.3.2. Hyperthyroidism

                6.3.2.1. Imidazole

                6.3.2.2. Propacil

        6.4. Market Attractiveness, by Disorder

    7. Global Thyroid Gland Disorders Treatment Market Analysis and Forecast, by Region

        7.1. Key Findings

        7.2. Market Value Forecast, by Region, 2023-2031

            7.2.1. North America

            7.2.2. Europe

            7.2.3. Asia Pacific

            7.2.4. Latin America

            7.2.5. Middle East & Africa

        7.3. Market Attractiveness, by Region

    8. North America Thyroid Gland Disorders Treatment Market Analysis and Forecast

        8.1. Introduction

            8.1.1. Key Findings

        8.2. Market Value Forecast, by Disorder, 2023-2031

            8.2.1. Hypothyroidism

                8.2.1.1. Levothyroxine

                8.2.1.2. Liothyronine

            8.2.2. Hyperthyroidism

                8.2.2.1. Imidazole

                8.2.2.2. Propacil

        8.3. Market Attractiveness, by Disorder

        8.4. Market Value Forecast, by Country, 2023–2031

            8.4.1. U.S.

            8.4.2. Canada

        8.5. Market Attractiveness Analysis

            8.5.1. By Disorder

            8.5.2. By Country

    9. Europe Thyroid Gland Disorders Treatment Market Analysis and Forecast

        9.1. Introduction

            9.1.1. Key Findings

        9.2. Market Value Forecast, by Disorder, 2023-2031

            9.2.1. Hypothyroidism

                9.2.1.1. Levothyroxine

                9.2.1.2. Liothyronine

            9.2.2. Hyperthyroidism

                9.2.2.1. Imidazole

                9.2.2.2. Propacil

        9.3. Market Attractiveness, by Disorder

        9.4. Market Value Forecast, by Country/Sub-region, 2023–2031

            9.4.1. Germany

            9.4.2. U.K.

            9.4.3. France

            9.4.4. Italy

            9.4.5. Spain

            9.4.6. Rest of Europe

        9.5. Market Attractiveness Analysis

            9.5.1. By Disorder

            9.5.2. By Country/Sub-region

    10. Asia Pacific Thyroid Gland Disorders Treatment Market Analysis and Forecast

        10.1. Introduction

            10.1.1. Key Findings

        10.2. Market Value Forecast, by Disorder, 2023-2031

            10.2.1. Hypothyroidism

                10.2.1.1. Levothyroxine

                10.2.1.2. Liothyronine

            10.2.2. Hyperthyroidism

                10.2.2.1. Imidazole

                10.2.2.2. Propacil

        10.3. Market Attractiveness, by Disorder

        10.4. Market Value Forecast, by Country/Sub-region, 2023-2031

            10.4.1. China

            10.4.2. Japan

            10.4.3. India

            10.4.4. Australia & New Zealand

            10.4.5. Rest of Asia Pacific

        10.5. Market Attractiveness Analysis

            10.5.1. By Disorder

            10.5.2. By Country/Sub-region

    11. Latin America Thyroid Gland Disorders Treatment Market Analysis and Forecast

        11.1. Introduction

            11.1.1. Key Findings

        11.2. Market Value Forecast, by Disorder, 2023-2031

            11.2.1. Hypothyroidism

                11.2.1.1. Levothyroxine

                11.2.1.2. Liothyronine

            11.2.2. Hyperthyroidism

                11.2.2.1. Imidazole

                11.2.2.2. Propacil

        11.3. Market Attractiveness, by Disorder

        11.4. Market Value Forecast, by Country/Sub-region, 2023-2031

            11.4.1. Brazil

            11.4.2. Mexico

            11.4.3. Rest of Latin America

        11.5. Market Attractiveness Analysis

            11.5.1. By Disorder

            11.5.2. By Country/Sub-region

    12. Middle East & Africa Thyroid Gland Disorders Treatment Market Analysis and Forecast

        12.1. Introduction

            12.1.1. Key Findings

        12.2. Market Value Forecast, by Disorder, 2023-2031

            12.2.1. Hypothyroidism

                12.2.1.1. Levothyroxine

                12.2.1.2. Liothyronine

            12.2.2. Hyperthyroidism

                12.2.2.1. Imidazole

                12.2.2.2. Propacil

        12.3. Market Attractiveness, by Disorder

        12.4. Market Value Forecast, by Country/Sub-region, 2023-2031

            12.4.1. GCC Countries

            12.4.2. South Africa

            12.4.3. Rest of Middle East & Africa

        12.5. Market Attractiveness Analysis

            12.5.1. By Disorder

            12.5.2. By Country/Sub-region

    13. Competition Landscape

        13.1. Market Player – Competition Matrix (By Tier and Size of Companies)

        13.2. Market Share Analysis, by Company (2022)

        13.3. Company Profiles

            13.3.1. Merck KGaA

                13.3.1.1. Company Overview (HQ, Business Segments, Employee Strength)

                13.3.1.2. Disorder Portfolio

                13.3.1.3. Financial Overview

                13.3.1.4. SWOT Analysis

                13.3.1.5. Strategic Overview

            13.3.2. Pfizer, Inc.

                13.3.2.1. Company Overview (HQ, Business Segments, Employee Strength)

                13.3.2.2. Disorder Portfolio

                13.3.2.3. Financial Overview

                13.3.2.4. SWOT Analysis

                13.3.2.5. Strategic Overview

            13.3.3. Takeda Pharmaceutical Company Ltd.

                13.3.3.1. Company Overview (HQ, Business Segments, Employee Strength)

                13.3.3.2. Disorder Portfolio

                13.3.3.3. Financial Overview

                13.3.3.4. SWOT Analysis

                13.3.3.5. Strategic Overview

            13.3.4. Allergan

                13.3.4.1. Company Overview (HQ, Business Segments, Employee Strength)

                13.3.4.2. Disorder Portfolio

                13.3.4.3. Financial Overview

                13.3.4.4. SWOT Analysis

                13.3.4.5. Strategic Overview

            13.3.5. Sanofi S.A.

                13.3.5.1. Company Overview (HQ, Business Segments, Employee Strength)

                13.3.5.2. Disorder Portfolio

                13.3.5.3. Financial Overview

                13.3.5.4. SWOT Analysis

                13.3.5.5. Strategic Overview

            13.3.6. AbbVie Inc.

                13.3.6.1. Company Overview (HQ, Business Segments, Employee Strength)

                13.3.6.2. Disorder Portfolio

                13.3.6.3. Financial Overview

                13.3.6.4. SWOT Analysis

                13.3.6.5. Strategic Overview

            13.3.7. Lannet Company, Inc.

                13.3.7.1. Company Overview (HQ, Business Segments, Employee Strength)

                13.3.7.2. Disorder Portfolio

                13.3.7.3. Financial Overview

                13.3.7.4. SWOT Analysis

                13.3.7.5. Strategic Overview

            13.3.8. Aspen

                13.3.8.1. Company Overview (HQ, Business Segments, Employee Strength)

                13.3.8.2. Disorder Portfolio

                13.3.8.3. Financial Overview

                13.3.8.4. SWOT Analysis

                13.3.8.5. Strategic Overview

    List of Tables

    Table 1: Global Thyroid Gland Disorders Treatment Market Value (US$ Mn) Forecast, by Disorder, 2023-2031

    Table 2: Global Thyroid Gland Disorders Treatment Market Value (US$ Mn) Forecast, by Region, 2023-2031

    Table 3: North America Thyroid Gland Disorders Treatment Market Value (US$ Mn) Forecast, by Country, 2023-2031

    Table 4: North America Thyroid Gland Disorders Treatment Market Value (US$ Mn) Forecast, by Disorder, 2023-2031

    Table 5: Europe Thyroid Gland Disorders Treatment Market Value (US$ Mn) Forecast, by Country/Sub-region, 2023-2031

    Table 6: Europe Thyroid Gland Disorders Treatment Market Value (US$ Mn) Forecast, by Disorder, 2023-2031

    Table 7: Asia Pacific Thyroid Gland Disorders Treatment Market Value (US$ Mn) Forecast, by Country/Sub-region, 2023-2031

    Table 8: Asia Pacific Thyroid Gland Disorders Treatment Market Value (US$ Mn) Forecast, by Disorder, 2023-2031

    Table 9: Latin America Thyroid Gland Disorders Treatment Market Value (US$ Mn) Forecast, by Country/Sub-region, 2023-2031

    Table 10: Latin America Thyroid Gland Disorders Treatment Market Value (US$ Mn) Forecast, by Disorder, 2023-2031

    Table 11: Middle East & Africa Thyroid Gland Disorders Treatment Market Value (US$ Mn) Forecast, by Country/Sub-region, 2032-2031

    Table 12: Middle East & Africa Thyroid Gland Disorders Treatment Market Value (US$ Mn) Forecast, by Disorder, 2023-2031

    List of Figures

    Figure 1: Global Thyroid Gland Disorders Treatment Market Value (US$ Mn) Forecast, 2023-2031

    Figure 2: Global Thyroid Gland Disorders Treatment Market Value Share, by Disorder, 2022

    Figure 3: Global Thyroid Gland Disorders Treatment Market Value Share Analysis, by Disorder, 2022 and 2031

    Figure 4: Global Thyroid Gland Disorders Treatment Market Attractiveness Analysis, by Disorder, 2023–2031

    Figure 5: Global Thyroid Gland Disorders Treatment Market Value Share Analysis, by Region, 2022 and 2031

    Figure 6: Global Thyroid Gland Disorders Treatment Market Attractiveness Analysis, by Region, 2023–2031

    Figure 7: North America Thyroid Gland Disorders Treatment Market Value (US$ Mn) Forecast, 2023-2031

    Figure 8: North America Thyroid Gland Disorders Treatment Market Value Share Analysis, by Country, 2022 and 2031

    Figure 9: North America Thyroid Gland Disorders Treatment Market Attractiveness Analysis, by Country, 2023–2031

    Figure 10: North America Thyroid Gland Disorders Treatment Market Value Share Analysis, by Disorder, 2022 and 2031

    Figure 11: North America Thyroid Gland Disorders Treatment Market Attractiveness Analysis, by Disorder, 2023–2031

    Figure 12: Europe Thyroid Gland Disorders Treatment Market Value (US$ Mn) Forecast, 2023-2031

    Figure 13: Europe Thyroid Gland Disorders Treatment Market Value Share Analysis, by Country/Sub-region, 2022 and 2031

    Figure 14: Europe Thyroid Gland Disorders Treatment Market Attractiveness Analysis, by Country/Sub-region, 2023–2031

    Figure 15: Europe Thyroid Gland Disorders Treatment Market Value Share Analysis, by Disorder, 2022 and 2031

    Figure 16: Europe America Thyroid Gland Disorders Treatment Market Attractiveness Analysis, by Disorder, 2023–2031

    Figure 17: Asia Pacific Thyroid Gland Disorders Treatment Market Value (US$ Mn) Forecast, 2023-2031

    Figure 18: Asia Pacific Thyroid Gland Disorders Treatment Market Value Share Analysis, by Country/Sub-region, 2022 and 2031

    Figure 19: Asia Pacific Thyroid Gland Disorders Treatment Market Attractiveness Analysis, by Country/Sub-region, 2023–2031

    Figure 20: Asia Pacific Thyroid Gland Disorders Treatment Market Value Share Analysis, by Disorder, 2022 and 2031

    Figure 21: Asia Pacific America Thyroid Gland Disorders Treatment Market Attractiveness Analysis, by Disorder, 2023–2031

    Figure 22: Latin America Thyroid Gland Disorders Treatment Market Value (US$ Mn) Forecast, 2023-2031

    Figure 23: Latin America Thyroid Gland Disorders Treatment Market Value Share Analysis, by Country/Sub-region, 2022 and 2031

    Figure 24: Latin America Thyroid Gland Disorders Treatment Market Attractiveness Analysis, by Country/Sub-region, 2023–2031

    Figure 25: Latin America Thyroid Gland Disorders Treatment Market Value Share Analysis, by Disorder, 2022 and 2031

    Figure 26: Latin America Thyroid Gland Disorders Treatment Market Attractiveness Analysis, by Disorder, 2023–2031

    Figure 27: Middle East & Africa Thyroid Gland Disorders Treatment Market Value (US$ Mn) Forecast, 2023-2031

    Figure 28: Middle East & Africa Thyroid Gland Disorders Treatment Market Value Share Analysis, by Country/Sub-region, 2022 and 2031

    Figure 29: Middle East & Africa Thyroid Gland Disorders Treatment Market Attractiveness Analysis, by Country/Sub-region, 2023–2031

    Figure 30: Middle East & Africa America Thyroid Gland Disorders Treatment Market Value Share Analysis, by Disorder, 2023–2031

    Figure 31: Middle East & Africa America Thyroid Gland Disorders Treatment Market Attractiveness Analysis, by Disorder, 2023–2031

    Figure 32: Global Thyroid Gland Disorders Treatment Market Share Analysis, by Company (2022)

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