Iodine is an essential trace element that is present in the thyroid hormones, thyroxine and triiodotyronine. These hormones play an important role in regulation of weight, energy levels, internal temperature, skin, hair, nail growth, metabolism and is an important part of the endocrine system. But in some cases thyroid gland is underactive i. e. it is unable to produce enough hormones due to which hypothyroidism occurs. The main cause of iodine deficiency disorder is hypothyroidism, which leads to development and metabolic problems. The adverse effects of hypothyroidism may lead to major problems such as abortion, still birth to mental and physical retardation and deafness.
The growth of global iodine deficiency drug market is driven by increase in iodine deficiency disorders, increase in awareness about iodine deficiency and also various drug launches by pharmaceutical key players. Moreover, the increase in prevalence of hypothyroidism cases in developing regions is a key factor which boosts the growth of market. Also, increase in prevalence of iodine deficiency cases in new born drives the growth of market. In addition, awareness programs across the globe by WHO, UNICEF for iodine deficiency will drive the market growth. For instance, according to WHO 2022, universal salt iodization program is introduced to combat iodine deficiency disorders across globe which fuels the growth of market.
However, side effects associated with iodine deficiency drugs and patent expiry of branded version are the restraints that decrease the growth of market. When thyroxine consumption is excess, various consequences can occur like thyroiditis, hyperthyroidism, and thyroid papillary cancer, brassy taste in the mouth, increased salivation, and gastrointestinal irritation which hinder the growth of market.
The global iodine deficiency drug market is segmented into dosage form, distribution channel and region wise. By dosage form, the market is categorized into tablets and others (softgel capsules, liquid formulations and injections). On the basis of distribution channel, the market is segregated into hospital pharmacies, drug stores & retail pharmacies, and online providers. Region wise, the market is analyzed across North America (the U. S., Canada, and Mexico), Europe (Germany, France, the UK, Italy, Spain, and rest of Europe), Asia-Pacific (Japan, China, Australia, India, South Korea, and rest of Asia-Pacific), and LAMEA (Brazil, South Africa, Saudi Arabia, and rest of LAMEA).
Major Key players that operate in the global iodine deficiency drug market are Abbott Laboratories, AbbVie Inc, Cipla Ltd, Fresenius SE & Co. KGaA (Fresenius Kabi), GlasxoSmithKline, Lupin, Macleods Pharmaceuticals, Merck KGaA, Pfizer, and Teva Pharmaceutical Industries Ltd, Inc.
The growth of global iodine deficiency drug market is driven by increase in iodine deficiency disorders, increase in awareness about iodine deficiency and also various drug launches by pharmaceutical key players. Moreover, the increase in prevalence of hypothyroidism cases in developing regions is a key factor which boosts the growth of market. Also, increase in prevalence of iodine deficiency cases in new born drives the growth of market. In addition, awareness programs across the globe by WHO, UNICEF for iodine deficiency will drive the market growth. For instance, according to WHO 2022, universal salt iodization program is introduced to combat iodine deficiency disorders across globe which fuels the growth of market.
However, side effects associated with iodine deficiency drugs and patent expiry of branded version are the restraints that decrease the growth of market. When thyroxine consumption is excess, various consequences can occur like thyroiditis, hyperthyroidism, and thyroid papillary cancer, brassy taste in the mouth, increased salivation, and gastrointestinal irritation which hinder the growth of market.
The global iodine deficiency drug market is segmented into dosage form, distribution channel and region wise. By dosage form, the market is categorized into tablets and others (softgel capsules, liquid formulations and injections). On the basis of distribution channel, the market is segregated into hospital pharmacies, drug stores & retail pharmacies, and online providers. Region wise, the market is analyzed across North America (the U. S., Canada, and Mexico), Europe (Germany, France, the UK, Italy, Spain, and rest of Europe), Asia-Pacific (Japan, China, Australia, India, South Korea, and rest of Asia-Pacific), and LAMEA (Brazil, South Africa, Saudi Arabia, and rest of LAMEA).
Major Key players that operate in the global iodine deficiency drug market are Abbott Laboratories, AbbVie Inc, Cipla Ltd, Fresenius SE & Co. KGaA (Fresenius Kabi), GlasxoSmithKline, Lupin, Macleods Pharmaceuticals, Merck KGaA, Pfizer, and Teva Pharmaceutical Industries Ltd, Inc.
KEY BENEFITS FOR STAKEHOLDERS
- This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the iodine deficiency drug market analysis from 2021 to 2031 to identify the prevailing iodine deficiency drug market opportunities.
- The market research is offered along with information related to key drivers, restraints, and opportunities.
- Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
- In-depth analysis of the iodine deficiency drug market segmentation assists to determine the prevailing market opportunities.
- Major countries in each region are mapped according to their revenue contribution to the global market.
- Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
- The report includes the analysis of the regional as well as global iodine deficiency drug market trends, key players, market segments, application areas, and market growth strategies.
Key Market Segments
By Distribution Channel
- Hospital Pharmacies
- Drug stores and Retail Pharmacies
- Online Providers
By Dosage Form
- Tablets
- Others
By Region
- North America
- U. S.
- Canada
- Mexico
- Europe
- Germany
- France
- UK
- Italy
- Spain
- Rest of Europe
- Asia-Pacific
- Japan
- China
- India
- Australia
- South Korea
- Rest of Asia-Pacific
- LAMEA
- Brazil
- Saudi Arabia
- South Africa
- Rest of LAMEA
Key Market Players
- Cipla Ltd
- Abbott Laboratories
- Abbvie Inc
- Fresenius SE and Co. KGaA
- Glaxosmithkline plc
- Lupin Ltd
- Merck KGaA
- Pfizer Inc.
- Teva Pharmaceutical Industries Ltd.
- Macleods Pharmaceuticals Ltd
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Table of Contents
CHAPTER 1: INTRODUCTION1.1. Report description
1.2. Key market segments
1.3. Key benefits to the stakeholders
1.4. Research Methodology
1.4.1. Secondary research
1.4.2. Primary research
1.4.3. Analyst tools and models
CHAPTER 2: EXECUTIVE SUMMARY
2.1. Key findings of the study
2.2. CXO Perspective
CHAPTER 3: MARKET OVERVIEW
3.1. Market definition and scope
3.2. Key findings
3.2.1. Top investment pockets
3.3. Porter’s five forces analysis
3.4. Top player positioning
3.5. Market dynamics
3.5.1. Drivers
3.5.2. Restraints
3.5.3. Opportunities
3.6. COVID-19 Impact Analysis on the market
CHAPTER 4: IODINE DEFICIENCY DRUG MARKET, BY DOSAGE FORM
4.1 Overview
4.1.1 Market size and forecast
4.2 Tablets
4.2.1 Key market trends, growth factors and opportunities
4.2.2 Market size and forecast, by region
4.2.3 Market share analysis by country
4.3 Others
4.3.1 Key market trends, growth factors and opportunities
4.3.2 Market size and forecast, by region
4.3.3 Market share analysis by country
CHAPTER 5: IODINE DEFICIENCY DRUG MARKET, BY DISTRIBUTION CHANNEL
5.1 Overview
5.1.1 Market size and forecast
5.2 Hospital Pharmacies
5.2.1 Key market trends, growth factors and opportunities
5.2.2 Market size and forecast, by region
5.2.3 Market share analysis by country
5.3 Drug stores and Retail Pharmacies
5.3.1 Key market trends, growth factors and opportunities
5.3.2 Market size and forecast, by region
5.3.3 Market share analysis by country
5.4 Online Providers
5.4.1 Key market trends, growth factors and opportunities
5.4.2 Market size and forecast, by region
5.4.3 Market share analysis by country
CHAPTER 6: IODINE DEFICIENCY DRUG MARKET, BY REGION
6.1 Overview
6.1.1 Market size and forecast
6.2 North America
6.2.1 Key trends and opportunities
6.2.2 North America Market size and forecast, by Dosage Form
6.2.3 North America Market size and forecast, by Distribution Channel
6.2.4 North America Market size and forecast, by country
6.2.4.1 U. S.
6.2.4.1.1 Key market trends, growth factors and opportunities
6.2.4.1.2 Market size and forecast, by Dosage Form
6.2.4.1.3 Market size and forecast, by Distribution Channel
6.2.4.2 Canada
6.2.4.2.1 Key market trends, growth factors and opportunities
6.2.4.2.2 Market size and forecast, by Dosage Form
6.2.4.2.3 Market size and forecast, by Distribution Channel
6.2.4.3 Mexico
6.2.4.3.1 Key market trends, growth factors and opportunities
6.2.4.3.2 Market size and forecast, by Dosage Form
6.2.4.3.3 Market size and forecast, by Distribution Channel
6.3 Europe
6.3.1 Key trends and opportunities
6.3.2 Europe Market size and forecast, by Dosage Form
6.3.3 Europe Market size and forecast, by Distribution Channel
6.3.4 Europe Market size and forecast, by country
6.3.4.1 Germany
6.3.4.1.1 Key market trends, growth factors and opportunities
6.3.4.1.2 Market size and forecast, by Dosage Form
6.3.4.1.3 Market size and forecast, by Distribution Channel
6.3.4.2 France
6.3.4.2.1 Key market trends, growth factors and opportunities
6.3.4.2.2 Market size and forecast, by Dosage Form
6.3.4.2.3 Market size and forecast, by Distribution Channel
6.3.4.3 UK
6.3.4.3.1 Key market trends, growth factors and opportunities
6.3.4.3.2 Market size and forecast, by Dosage Form
6.3.4.3.3 Market size and forecast, by Distribution Channel
6.3.4.4 Italy
6.3.4.4.1 Key market trends, growth factors and opportunities
6.3.4.4.2 Market size and forecast, by Dosage Form
6.3.4.4.3 Market size and forecast, by Distribution Channel
6.3.4.5 Spain
6.3.4.5.1 Key market trends, growth factors and opportunities
6.3.4.5.2 Market size and forecast, by Dosage Form
6.3.4.5.3 Market size and forecast, by Distribution Channel
6.3.4.6 Rest of Europe
6.3.4.6.1 Key market trends, growth factors and opportunities
6.3.4.6.2 Market size and forecast, by Dosage Form
6.3.4.6.3 Market size and forecast, by Distribution Channel
6.4 Asia-Pacific
6.4.1 Key trends and opportunities
6.4.2 Asia-Pacific Market size and forecast, by Dosage Form
6.4.3 Asia-Pacific Market size and forecast, by Distribution Channel
6.4.4 Asia-Pacific Market size and forecast, by country
6.4.4.1 Japan
6.4.4.1.1 Key market trends, growth factors and opportunities
6.4.4.1.2 Market size and forecast, by Dosage Form
6.4.4.1.3 Market size and forecast, by Distribution Channel
6.4.4.2 China
6.4.4.2.1 Key market trends, growth factors and opportunities
6.4.4.2.2 Market size and forecast, by Dosage Form
6.4.4.2.3 Market size and forecast, by Distribution Channel
6.4.4.3 India
6.4.4.3.1 Key market trends, growth factors and opportunities
6.4.4.3.2 Market size and forecast, by Dosage Form
6.4.4.3.3 Market size and forecast, by Distribution Channel
6.4.4.4 Australia
6.4.4.4.1 Key market trends, growth factors and opportunities
6.4.4.4.2 Market size and forecast, by Dosage Form
6.4.4.4.3 Market size and forecast, by Distribution Channel
6.4.4.5 South Korea
6.4.4.5.1 Key market trends, growth factors and opportunities
6.4.4.5.2 Market size and forecast, by Dosage Form
6.4.4.5.3 Market size and forecast, by Distribution Channel
6.4.4.6 Rest of Asia-Pacific
6.4.4.6.1 Key market trends, growth factors and opportunities
6.4.4.6.2 Market size and forecast, by Dosage Form
6.4.4.6.3 Market size and forecast, by Distribution Channel
6.5 LAMEA
6.5.1 Key trends and opportunities
6.5.2 LAMEA Market size and forecast, by Dosage Form
6.5.3 LAMEA Market size and forecast, by Distribution Channel
6.5.4 LAMEA Market size and forecast, by country
6.5.4.1 Brazil
6.5.4.1.1 Key market trends, growth factors and opportunities
6.5.4.1.2 Market size and forecast, by Dosage Form
6.5.4.1.3 Market size and forecast, by Distribution Channel
6.5.4.2 Saudi Arabia
6.5.4.2.1 Key market trends, growth factors and opportunities
6.5.4.2.2 Market size and forecast, by Dosage Form
6.5.4.2.3 Market size and forecast, by Distribution Channel
6.5.4.3 South Africa
6.5.4.3.1 Key market trends, growth factors and opportunities
6.5.4.3.2 Market size and forecast, by Dosage Form
6.5.4.3.3 Market size and forecast, by Distribution Channel
6.5.4.4 Rest of LAMEA
6.5.4.4.1 Key market trends, growth factors and opportunities
6.5.4.4.2 Market size and forecast, by Dosage Form
6.5.4.4.3 Market size and forecast, by Distribution Channel
CHAPTER 7: COMPANY LANDSCAPE
7.1. Introduction
7.2. Top winning strategies
7.3. Product Mapping of Top 10 Players
7.4. Competitive Dashboard
7.5. Competitive Heatmap
7.6. Key developments
CHAPTER 8: COMPANY PROFILES
8.1 Abbott Laboratories
8.1.1 Company overview
8.1.2 Company snapshot
8.1.3 Operating business segments
8.1.4 Product portfolio
8.1.5 Business performance
8.1.6 Key strategic moves and developments
8.2 Abbvie Inc
8.2.1 Company overview
8.2.2 Company snapshot
8.2.3 Operating business segments
8.2.4 Product portfolio
8.2.5 Business performance
8.2.6 Key strategic moves and developments
8.3 Cipla Ltd
8.3.1 Company overview
8.3.2 Company snapshot
8.3.3 Operating business segments
8.3.4 Product portfolio
8.3.5 Business performance
8.3.6 Key strategic moves and developments
8.4 Fresenius SE and Co. KGaA
8.4.1 Company overview
8.4.2 Company snapshot
8.4.3 Operating business segments
8.4.4 Product portfolio
8.4.5 Business performance
8.4.6 Key strategic moves and developments
8.5 Glaxosmithkline plc
8.5.1 Company overview
8.5.2 Company snapshot
8.5.3 Operating business segments
8.5.4 Product portfolio
8.5.5 Business performance
8.5.6 Key strategic moves and developments
8.6 Lupin Ltd
8.6.1 Company overview
8.6.2 Company snapshot
8.6.3 Operating business segments
8.6.4 Product portfolio
8.6.5 Business performance
8.6.6 Key strategic moves and developments
8.7 Macleods Pharmaceuticals Ltd
8.7.1 Company overview
8.7.2 Company snapshot
8.7.3 Operating business segments
8.7.4 Product portfolio
8.7.5 Business performance
8.7.6 Key strategic moves and developments
8.8 Merck KGaA
8.8.1 Company overview
8.8.2 Company snapshot
8.8.3 Operating business segments
8.8.4 Product portfolio
8.8.5 Business performance
8.8.6 Key strategic moves and developments
8.9 Pfizer Inc.
8.9.1 Company overview
8.9.2 Company snapshot
8.9.3 Operating business segments
8.9.4 Product portfolio
8.9.5 Business performance
8.9.6 Key strategic moves and developments
8.10 Teva Pharmaceutical Industries Ltd.
8.10.1 Company overview
8.10.2 Company snapshot
8.10.3 Operating business segments
8.10.4 Product portfolio
8.10.5 Business performance
8.10.6 Key strategic moves and developments
Executive Summary
According to this report, titled, 'Iodine Deficiency Drug Market,' the iodine deficiency drug market size was valued at $3.7 billion in 2021, and is estimated to reach $6.5 billion by 2031, growing at a CAGR of 5.8% from 2022 to 2031.Iodine deficiency disorders occur when the thyroid gland doesn’t produce enough thyroid hormone which is required for the functioning of body. The main cause of iodine deficiency disorders is hypothyroidism i.e. less amount of iodine in body. Iodine is very vital element in thyroid hormones, which regulates body’s temperature, metabolism and heart rate. For instance, according to article published in National Institute of Health 2021 data, hypothyroidism has multiple adverse effects on growth and development, and is the most common cause of preventable intellectual disability in the world.
Due to hypothyroidism various growth and development problems are observed in newborn and during pregnancy which are serious problems. For instance, according to the WHO report 2022, 1.88 billion people worldwide are at risk of insufficient iodine intake and approximately one-third of the world’s population lives in areas with some iodine deficiency. Thus, recommended nutrient intake for iodine is 150 µg/day for adolescents and adults, 250 µg/day for pregnant and lactating women and 120 µg/day for children aged 6-12 years old.
The global iodine deficiency drug market trends which drive growth of the market include an increase in iodine deficiency disorders (IDDs) such as goiter and hypothyroidism, an increase in awareness about iodine-deficient hypothyroidism, and drug launches by key players for iodine deficiency. In developing regions, hypothyroidism cases are increasing in newborns which drive market growth. Also, countries with high population and developing regions, where iodine deficiency is a major cause will boost the growth of the iodine deficiency drug market.
Increase in awareness about Iodine deficiency disorders is the key factor expected to provide growth opportunities iodine deficiency drug market in developing countries such as China and India. Furthermore, surge in product approval & product launch strategies by the key market players such as Lupin, GSK, and Pfizer, and rise in R&D activities are anticipated to provide opportunities for the growth during iodine deficiency drug market analysis.
However, high consumption of thyroxin drug may lead to various problems, so thyroid function should be monitored in patients with iodine deficiency treatment regime. This restraints might hinder the growth of this sector during iodine deficiency drug market forecast.
Depending on dosage form, the market is bifurcated into tablets and others. The tablet segment exhibited highest revenue in 2021, and is projected to register highest CAGR during the forecast period, owing to increase in adoption of tablet dosage form for iodine deficiency treatment. In addition, increase in demand for levothyroxine tablets across developing countries leads to treat iodine deficiency disorders, further boost the iodine deficiency drug industry growth.
On the basis of distribution channel, the market is segmented into hospital pharmacies, drug stores & retail pharmacies, and online providers. The drug store & retail pharmacies segment exhibited highest iodine deficiency drug market share in 2021, owing to retail pharmacies is considered to be a standard method for iodine deficiency drug treatment and is highly favored across the globe.
Region wise, Europe had the highest iodine deficiency drug market share in 2021, and is expected to maintain its lead during the forecast period, owing to high incidences of hypothyroidism cases and rise in healthcare infrastructure. In addition, rise in drug launches for iodine deficiency and increase in awareness regarding iodine deficiency disorders, further drive the market growth in this region.
However, Asia-Pacific is expected to witness fastest CAGR during the forecast period, owing to factors such as rise in investments in manufacturing of high-quality levothyroxine drug and various healthcare plan to combat such disorders. In addition, increase in healthcare infrastructure in this region further propel the iodine deficiency drug market size.
KEY FINDINGS OF THE STUDY
- By dosage form, the tablet segment was highest contributor to the iodine deficiency drug industry in 2021.
- On the basis of distribution channel, the drug stores & retail pharmacies segment dominated the market in 2021. However, online providers is anticipated to grow at the highest CAGR of 7.5% during the forecast period
- Region wise, Europe generated the largest revenue in 2021. However, Asia-Pacific is anticipated to grow at the highest CAGR of 7.3% during the forecast period.
Companies Mentioned
- Cipla Ltd.
- Abbott Laboratories
- Abbvie Inc.
- Fresenius SE and Co. KGaA
- GlaxoSmithKline PLC
- Lupin Ltd.
- Merck KGaA
- Pfizer Inc.
- Teva Pharmaceutical Industries Ltd.
- Macleods Pharmaceuticals Ltd
Methodology
The analyst offers exhaustive research and analysis based on a wide variety of factual inputs, which largely include interviews with industry participants, reliable statistics, and regional intelligence. The in-house industry experts play an instrumental role in designing analytic tools and models, tailored to the requirements of a particular industry segment. The primary research efforts include reaching out participants through mail, tele-conversations, referrals, professional networks, and face-to-face interactions.
They are also in professional corporate relations with various companies that allow them greater flexibility for reaching out to industry participants and commentators for interviews and discussions.
They also refer to a broad array of industry sources for their secondary research, which typically include; however, not limited to:
- Company SEC filings, annual reports, company websites, broker & financial reports, and investor presentations for competitive scenario and shape of the industry
- Scientific and technical writings for product information and related preemptions
- Regional government and statistical databases for macro analysis
- Authentic news articles and other related releases for market evaluation
- Internal and external proprietary databases, key market indicators, and relevant press releases for market estimates and forecast
Furthermore, the accuracy of the data will be analyzed and validated by conducting additional primaries with various industry experts and KOLs. They also provide robust post-sales support to clients.
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