LONDON--(BUSINESS WIRE)--The global thyroid gland disorder treatment market is expected to grow at a CAGR of more than 3% during the forecast period, according to Technavio’s latest market research.
In this market research report, Technavio covers the market outlook and growth prospects of the global thyroid gland disorder treatment market for 2017-2021. The market is further categorized into two segments based on the type of disorder, which are hypothyroidism and hyperthyroidism.
“Globally, 750 million people suffer from thyroid disorders, among which more than half are undiagnosed. The major players in the market are introducing innovative and improved formulations and drugs using new drug-delivery technologies. The quick and easy delivery routes used by new formulations along with increased awareness are expected to increase patient compliance, thereby, fostering the market growth during the forecast period,” says Sapna Jha, a lead cardiovascular and metabolic disorders research expert from Technavio.
Technavio’s healthcare and life sciences research analysts segment the global thyroid gland disorder treatment market into the following regions:
- Americas
- EMEA
- APAC
Thyroid gland disorder treatment in the Americas
The thyroid gland disorders treatment market in the Americas is growing at a moderate pace as compared to the global market, owing to the introduction of natural extracts drugs. Associations such as American Thyroid Association (ATA) and Human Growth Foundation are involved in spreading awareness about the disorder and the available treatment options. For instance, American Association of Clinical Endocrinologists (AACE) has initiated a campaign to increase public awareness about the thyroid disorder and educate the Americans about the treatment.
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Thyroid gland disorder treatment market in EMEA
EMEA is emerging and facing challenges regarding regulatory guidelines such as rigorous analytical data to compare similarity with the approved products. However, the thyroid gland disorder treatment market in EMEA is expected to benefit from the growing incidence of hypothyroidism in key regions such as Europe.
“The rising number of individuals with hypothyroid, and increasing thyroid awareness programs contribute to this growth,” says Sapna.
For instance, in 2016, Merck Sharp & Dohme collaborated with Thyroid Federation International (TFI) for a campaign called Catching the butterflies, which detects the symptoms of thyroid disorders in children.
Thyroid gland disorder treatment market in APAC
APAC is expected to grow at a higher rate compared to EMEA and the Americas, due to the growing awareness programs through various companies. For instance, in 2015, Abbott collaborated with Indian Thyroid Society (ITS) to spread thyroid awareness in coastal Andhra Pradesh in India. The data estimated from these awareness programs suggests that one in 10 adults in India suffer from hypothyroidism, and the disease ranked ninth among other common ailments such as depression, asthma, cholesterol problem, diabetes, insomnia, and heart problems.
The top vendors in the global thyroid gland disorder treatment market as highlighted in this market research analysis are:
- Abbott
- AbbVie
- Allergan
- Merck Sharp& Dohme
- Pfizer
- RLC LABS
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