Global Hashimoto’s Thyroiditis Drug Market – Industry Trends and Forecast to 2030

 Hashimoto’s Thyroiditis Drug Market Analysis and Size

In recent years, the Hashimoto’s disease market is anticipated to grow rapidly during the forecast period of 2023 to 2030. The recommended daily intake (RDI) of iodine, according to the World Health Organization (WHO), is 150 mcg per day, which is sufficient for more than 95 percent of all healthy individuals, with pregnant and lactating women requiring more. Excessive intake of iodine is the major reason that act as trigger for people who are already at the risk of Hashimoto’s disease. People with a family history of thyroid dysfunction are more likely to develop Hashimoto disease.     .                                

Data Bridge Market Research analyses that the global Hashimoto’s thyroiditis drug market which was USD 7,200.00 million in 2022, and is expected to reach USD 12,463.74 million by 2030, and is expected to undergo a CAGR of 7.10% during the forecast period of 2023 to 2030. “Capsule,” dominates the product type segment of the global Hashimoto’s thyroiditis drug market due to rising prevalence of hypothyroidism. In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Data Bridge Market Research also include depth expert analysis, patient epidemiology, pipeline analysis, pricing analysis, and regulatory framework.

Hashimoto’s Thyroiditis Drug Market Scope and Segmentation

Market Definition

Hashimoto's illness is a condition that affects the thyroid gland. Hashimoto's disease is also known as chronic lymphocytic thyroiditis, Hashimoto's thyroiditis or autoimmune thyroiditis. The thyroid gland produces hormones that regulate and maintain nearly all of the body's metabolic activities (how it converts food into energy). Hashimoto's thyroiditis is an autoimmune condition in which your immune system misidentifies your thyroid and affects it.            

Global Hashimoto’s Thyroiditis Drug Market Dynamics

Drivers

• Increasing Prevalence of Hypothyroidism

The rising prevalence of hypothyroidism is estimated to enhance the Hashimoto’s disease market's growth. When the thyroid gland is injured by the immune system, it cannot produce enough thyroid hormones to meet the body's needs, resulting in Hashimoto's hypothyroidism. Thyroid hormones control metabolism, which is the process of converting food into energy.

• Increasing Investment for Healthcare Infrastructure

Another significant factor influencing the growth rate of Hashimoto’s disease market is the rising health care expenditure which helps in improving its infrastructure. Also, various government organizations aims to improve the healthcare infrastructure by increasing funding and this will further influence the market dynamics.

• Growing number of Geriatric Population

The surging geriatric population is estimated to enhance the market's expansion during the forecast period of 2023-2030. According to the World Health Organization (WHO), the worldwide geriatric population, which was estimated to be over 524 million in 2010, is expected to increase to nearly 2 billion by 2050. Due to their compromised immune systems, geriatrics are more susceptible to get Hashimoto’s disease, further estimated to enhance the market’s growth rate.

• Surging Incidences of Autoimmune Disease

The increasing incidences of autoimmune disease is anticipated to influence the growth of Hashimoto’s disease market. Rheumatoid arthritis, lupus and type 1 diabetes are among the various autoimmune disease that increases the risk of Hashimoto’s disease and further flourish the markets growth. Furthermore, rising initiatives by public and private organizations to spread awareness and family history with thyroid diseases will expand the global Hashimoto’s thyroiditis drug market. In addition, rising radiation exposure and high consumption alcohol and alcohol will result in the expansion of global Hashimoto’s thyroiditis drug market.

 Opportunities

• Increase in the number of Research and Development Activities

Moreover, the market's growth is fueled by an increase in the number of research and development activities. This will provide beneficial opportunities for the Hashimoto’s disease market growth. Along with this, rising drug approvals and launches will further propel the market’s growth rate.

• Growing Awareness and Diagnosis

There is a growing awareness among healthcare professionals and the general population regarding thyroid disorders, including Hashimoto's thyroiditis. Improved diagnostic techniques and increased screening efforts have led to earlier detection and diagnosis of the condition. This increased awareness and diagnosis contribute to a larger patient pool and a corresponding market opportunity.

Restraints/Challenges

• Limited Treatment Options

While there are medications available for managing Hashimoto's thyroiditis, there is still a lack of specific drugs that target the underlying autoimmune process. The limited treatment options restrict the market potential and hinder the development of more effective therapies.

• Adverse Effects and Safety Concerns

Some of the existing treatments for Hashimoto's thyroiditis may have side effects or safety concerns. This can lead to hesitancy among patients and healthcare professionals in using certain medications, limiting their adoption and market growth.

This  global  Hashimoto’s thyroiditis drug market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the global Hashimoto’s thyroiditis drug market Contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.

Recent Developments

• In April 2023, Horizon Therapeutics plc (Nasdaq: HZNP) today announced that the U.S. Food and Drug Administration (FDA) has approved an update to the Indications and Usage section of the TEPEZZA label to specify its use for the treatment of “Thyroid Eye Disease regardless of Thyroid Eye Disease activity or duration
• In October 2022, PledPharma AB (publ) (STO: PLED) (“PledPharma” or the “Company”) had announced that it had  entered into an agreement to acquire all outstanding shares in Rare Thyroid Therapeutics International AB (“RTT” or “Rare Thyroid Therapeutics”), a privately held drug development company with the ultra-orphan asset

Global Hashimoto’s thyroiditis Drug Market Scope

The global Hashimoto’s thyroiditis drug market is segmented on the basis of product type, diagnosis, treatment, route of administration, distribution channel and end users. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.

Product Type

• Capsule
• Tablet
• Powder

Diagnosis

• Thyroid-Stimulating Hormone Test
• Thyroxine Test
• Antithyroid Antibody Test

Treatment

• Levothyroxine
• Triiodothyronine
• Desiccated Thyroid Extract

Route of Administration

• Oral Intravenous
• Others

Distribution Channel

• Hospital Pharmacies
•  Retail Pharmacies
•  Online Pharmacies

 End User

• Hospitals
• Clinics 
• Medical Laboratories
• Others

 Global Hashimoto’s Thyroiditis Drug Market Regional Analysis/Insights

The global Hashimoto’s thyroiditis drug market is analysed and market size insights and trends are provided by country, product type, diagnosis, treatment, route of administration, distribution channel and end users as referenced above.

The countries covered in the  global  Hashimoto’s thyroiditis drug market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E., South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.

North America dominates the global Hashimoto’s thyroiditis drug market because of the strong base of healthcare facilities, strong presence of major players in the market, increases cases of autoimmune thyroid diseases and deficiency of iodine content and rising number of research activities in this region.   

Asia-Pacific is expected to witness significant growth in the global Hashimoto’s thyroiditis drug market during the forecast period of 2023 to 2030 due to the increase in government initiatives to promote awareness, rise in medical tourism, growing research activities in the region, availability of massive untapped markets, large population pool, and the growing demand for quality healthcare in the region.

The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.   

Healthcare Infrastructure Growth Installed base and New Technology Penetration

The  global Hashimoto’s thyroiditis drug market also provides you with detailed market analysis for every country growth in healthcare expenditure for capital equipment, installed base of different kind of products for global Hashimoto’s thyroiditis drug market, impact of technology using life line curves and changes in healthcare regulatory scenarios and their impact on the global Hashimoto’s thyroiditis drug market. The data is available for historic period 2015-2020.

Competitive Landscape and Global Hashimoto’s thyroiditis Drug Market Share Analysis

The global Hashimoto’s thyroiditis drug market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to global Hashimoto’s thyroiditis drug market.

Some of the major players operating in the global Hashimoto’s thyroiditis drug market are:

• GSK plc (U.K.)
• Novartis AG (Switzerland)
• Bayer AG (Germany)
• Eli Lilly and Company (U.S.)
• Merck & Co., Inc. (U.S.)
• AstraZeneca (UK)
• Johnson & Johnson Services, Inc. (U.S.)
• Cipla Inc. (U.S.)
• Abbott (U.S.)
• AbbVie Inc. (U.S.)
• Merck KGaA (Germany)
• Sun Pharmaceutical Industries Ltd. (India)
• Aurobindo Pharma (India)
• Lupin (India)
• Provell Pharmaceuticals, LLC (U.S.)
• Alvogen (U.S.)
• Piramal Enterprises Ltd. (U.S.)
• Dr. Reddy’s Laboratories Ltd. (India)
• Pfizer Inc. (U.S.)
• Fresenius Kabi AG (Germany)

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