Global Hyperthyroidism Market – Industry Trends and Forecast to 2029

Hyperthyroidism Market Analysis and Size

The global hyperthyroidism market is expected to witness significant growth during the forecast period. Growing cases of autoimmune disorders such as grave’s disease drives the hyperthyroidism market. Several reasons can cause hyperthyroidism such as excess iodine, inflammation in thyroid gland, tumors in ovaries & testes, tumor of thyroid gland and other will also boost up the hyperthyroidism market. Medical advancements which involves ongoing drug discovery, and government and non-government organizational initiatives are what that boosts the market growth. COVID-19 also had a major impact on the market growth.

Data Bridge Market Research analyses a growth rate in the global hyperthyroidism market in the forecast period 2022-2029. The expected CAGR of global hyperthyroidism market is tend to be around 4% in the mentioned forecast period. The market was valued at USD 2.3 billion in 2021, and it would grow upto USD 3.15 billion by 2029. In addition to the market insights such as market value, growth rate, market segments, geographical coverage, market players, and market scenario, the market report curated by the Data Bridge Market Research team also includes in-depth expert analysis, patient epidemiology, pipeline analysis, pricing analysis, and regulatory framework.

Market Definition

Hyperthyroidism also known as overactive thyroid occurs when thyroid gland secreted too much of thyroxine hormone. During hyperthyroidism, body metabolism accelerates, causing unintentional weight disbalance and rapid or irregular heartbeat. Symptoms of hyperthyroidism includes palpitations, increased appetite, nervousness, anxiety, tremor, changes in menstrual patterns in women’s, and increased sensitivity to heat among others. It is of great importance to the healthcare sector and thus is expected to rise high in the forecast period

Report Scope and Market Segmentation

Global Hyperthyroidism Market Dynamics

Drivers

• Increased Incidence of Thyroid Disorders

Thyroid Disorders, mainly hyperthyroidism, affect 200 million people globally; in most countries, half of the population remains undiagnosed. This condition is more prevalent among women and the elderly. As per the statistics by the Thyroid Foundation of Canada in 2015, 1 in every 1700 children in Canada is affected by congenital hypothyroidism. This creates more opportunity in the market.

• Rising Demand for Oral Drugs

Oral drugs is expected to boost the market growth. The segment is expected to accelerate the global market as most products are available in capsule and tablet form and it is a very feasible route of administration.

Opportunities

• The Growing Strategic Collaborations

There has been an increase in collaborative agreements between private and public organizations that aids to spread awareness pertaining to thyroid management among healthcare professionals and patients is expected to expand the market growth. Several government organizations such as The British Thyroid Foundation, American Thyroid Association (ATA), American Academy of Otolaryngology and Thyroid Foundation of Canada are engaged in many promotional activities to create awareness regarding the disease and its treatment options.

• Increased Initiatives by Government and Market Players

The increasing number of efforts and initiatives that are being initiated by the government and major market leaders all over the world are boosting the market growth. Governments in many countries have launched several healthcare schemes, which, a patient can use for the treatment of several disorders. Furthermore, hyperthyroidism is a serious issue, becoming the reason of mortality for people worldwide each year. Thus, these policies drive the market growth.

Restraints/Challenges

• Lack of Skilled Professionals

Lack of trained professionals who are unaware of the knowledge of the treatment methods for this disease could curb the growth of the global hyperthyroidism market over a forecast period.

• Increasing Cost of Treatment

One of the primary factors that are causing a restrain to the hyperthyroidism market is the high cost of the drugs associated with the disease. There is an increasing number of people that suffer from thyroid disorders all over the world. Most of the population cannot get the optimum benefit of the treatment due to the rising cost.  

This global hyperthyroidism 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 hyperthyroidism market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.

COVID-19 Impact on Global Hyperthyroidism Market       

Considering the present scenario, COVID-19 has left an unprecedented global public health crisis that has impacted practically every business. Transition of healthcare infrastructure toward managing COVID-19 has led to drug launch cancellations and delays in clinical trials. Thyroidism is increasing irrespective of the COVID-19 situation but due to the pandemic, this was in halt.

But, in the post-pandemic era, the market is expected to flourish with the increasing upliftments of hospitals and clinics and the reduction of COVID-19 treatment methods. . 

Global Hyperthyroidism Market Scope

The global hyperthyroidism market is segmented on the basis of diagnosis, treatment, route of administration, distribution channel and end-user. 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.

Diagnosis

• Physical Examination
• Cholesterol Test
• Blood Tests
• Radioiodine Uptake Test
• Thyroid Scan
• Thyroid Ultrasound
• Others

Treatment

• Medication
• Surgery

Route of Administration

• Oral
• Parenteral
• Others

End-Users

• Hospitals
• Homecare
• Speciality Centres
• Others

Distribution Channel

• Hospital Pharmacy
• Online Pharmacy
• Retail Pharmacy

Hyperthyroidism Market Regional Analysis/Insights

The global hyperthyroidism market is analysed and market size insights and trends are provided by diagnosis, treatment, route of administration, distribution channel and end-user as referenced above.

The major countries covered in the global hyperthyroidism market report are the 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 is expected to have the highest market growth due to increasing thyroid-related diseases and initiatives taken by pharmaceutical organizations to generate novel formulation.

Asia-Pacific dominates the market due to increasing initiatives taken by the government and pharmaceutical organizations to spread awareness and presence of generic manufacturer.

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. 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.   

Competitive Landscape and Global Hyperthyroidism Market Share Analysis

The global hyperthyroidism 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 hyperthyroidism market.

Key players operating in the global hyperthyroidism market include:

• Teva Pharmaceutical Industries Ltd (Israel)
• Mylan N.V (U.S.)
• Johnsons & Johnsons Pvt Ltd (U.S.)
• F. Hoffman-La Roche Ltd. (Switzerland)
• Lilly (U.S.)
• Merck & Co., Inc. (U.S.)
• Aurobindo Pharma (India)
• CASI Pharmaceuticals Inc. (U.S.)
• ECI Pharmaceuticals (Florida)
• Bristol-Myers Squibb Company (U.S.)
• GSK plc (U.K.)

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