Thyroid Gland Disorder Treatment Market 2030: Addressing the Rise of Iodine Deficiency

The global thyroid gland disorder treatment market size is expected to reach USD 2.84 billion in 2030 and is projected to grow at a CAGR of 3.6% from 2024 to 2030. An increase in the prevalence of thyroid diseases around the globe is expected to drive demand for anti-thyroid drugs in the coming years. Hypothyroidism is one of the leading causes of hospitalization in U.S. Growing awareness about disease management amongst healthcare professionals and patients is another factor augmenting the market growth. There are various private and public organizations working toward spreading awareness related to disease management, such as the British Thyroid Foundation, The American Thyroid Association (ATA), and Thyroid Foundation of Canada.

Rising demand for these drugs has resulted in the development of various generic equivalents of branded drugs to treat thyroid gland disorders. Generic drug manufacturers are focusing on strategies such as new product development, distribution channel enhancement, regional expansions, and collaborations with other companies for marketing their products to gain an edge over the competition. In addition, regulatory authorities that approve generic versions of branded drugs are working to overcome delays in product approvals and enable the availability of these drugs at a lower price. This is expected to boost the market over the forecast period.

Gather more insights about the market drivers, restrains and growth of the Thyroid Gland Disorder Treatment Market

Thyroid Gland Disorder Treatment Market Size, 2024 - 2030

Thyroid Gland Disorder Treatment Market Report Highlights

  • Hypothyroidism dominated the market and accounted for a market share of 68.7% in 2023 and is expected to maintain its position throughout the forecast period. On the other hand, hyperthyroidism is expected to witness steady growth on account of the increase in the incidence of Graves’ disease
  • The oral route is the most preferred or most frequently used route of administration owing to its convenience and simplicity, which helps improve patient compliance. The market is driven by the presence of a strong pipeline of oral anti-thyroid medications
  • Wholesale distribution accounted for the largest market revenue share of 46.7% in 2023 owing to increasing spending on outpatient prescription drugs along with overall healthcare expenditure. E-commerce is expected to witness lucrative growth in the coming years
  • Asian countries, especially India and China, are expected to observe remarkable growth in the coming years
  • The market is fragmented in nature, with the presence of various large and small pharmaceutical players

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List of Key Players in the Thyroid Gland Disorder Treatment Market

  • Abbvie Inc.
  • Amgen Inc.
  • GSK Plc
  • Merck KGaA
  • Viatris Inc.
  • Novartis AG
  • Pfizer Inc.
  • Takeda Pharmaceutical Company Limited
  • Elexis Inc.
  • IBSA Pharma (IBSA Group)

About Grand View Research

Grand View Research is a full-time market research and consulting company registered in San Francisco, California. The company fully offers market reports, both customized and syndicates, based on intense data analysis. It also offers consulting services to business communities and academic institutions and helps them understand the global and business scenario to a significant extent. The company operates across multitude of domains such as Chemicals, Materials, Food and Beverages, Consumer Goods, Healthcare, and Information Technology to offer consulting services.

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